Toyota, Honda and Nissan come in at around $48 an hour w/benefits, whereas, the Big 3 Automakers come in at $73 an hour w/ benefits. I am using only statistics and figures for U.S. plants.
If you allow unions to extort your company and drive labor costs up 50% more than the competition, you deserve to go bankrupt. I am against any bailout and especially if unions are not going to leave the game. When the financial sector bailout became a reality, my first thought was, “where will it end?”.
Everyone has their hand out now and the line will get longer as time passes.
“Toyota, Honda and Nissan come in at around $48 an hour w/benefits,..”
Sure. I have read articles that their labor cost is starting to increase quickly. At this time they have no legacy costs in the US, when people start retiring that will change.
“the Big 3 Automakers come in at $73 an hour w/ benefits.”
With benefits plus LEGACY costs, that is the rub that is missing. Keep in mind that the big 3 have more retirees than actual employees by a ration of something like 2 or 3 to 1.
I didn’t support the previous bailout and I don’t support an auto bailout. However, I want the discussion to revolve around facts.