“And yet there is nothing inherently unsustainable about employing a high-priced, unionized workforce”
When I read that, I burst out laughing. This guy is a real idiot.
Well, the real problem with the Big 3 and the unions which have hogtied them is that not only do they pay well while they are actually working (which I don’t mind) but they also give workers overly generous pension plans as well. That’s why the Big 3 are so close to bankruptcy. They are paying for more retirement benefits than employee benefits. That’s what has to stop.
That's true if you are a monopoly.