Big 3 Bailout died because of... The UAW!
In a not at all surprising turn of events, the reason that the bailout fell through was the UAW, which like most unions seems to believe that it is better to kill off the industry that employs you rather than take a wage cut. Idiots.
At 7pm last night Senate Republicans were in closed door session with the UAW. The Democrats were in, the Big 3 were in, everyone was ready to go, except the UAW. Part of the bill called for the UAW to cut wages so that they matched the wages paid to workers in non UAW factories (i.e. Toyota, Honda, Hyundai, Nissan etc.) They refused, offering only to cut wages after their current contract expires in 2011. Yeah, thats real helpful.
The crappy part is, the UAW might be rewarded for their idiocy, as the automakers might get their bailout from TARP - which may not come with the wage-cut strings attached.
My hatred of unions knows no bounds.
At 7pm last night Senate Republicans were in closed door session with the UAW. The Democrats were in, the Big 3 were in, everyone was ready to go, except the UAW. Part of the bill called for the UAW to cut wages so that they matched the wages paid to workers in non UAW factories (i.e. Toyota, Honda, Hyundai, Nissan etc.) They refused, offering only to cut wages after their current contract expires in 2011. Yeah, thats real helpful.
The crappy part is, the UAW might be rewarded for their idiocy, as the automakers might get their bailout from TARP - which may not come with the wage-cut strings attached.
My hatred of unions knows no bounds.
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