We’ve all heard that the unions gave up HUGE concessions in the “Fiat buys Chrysler patronage bailout.
This from the Kaus Files…
**– Here’s a WSJ news story on what the UAW seems to have actually given up: 1) Suspended cost-of-living adjustements; 2) Overtime only after 40 hours a week of work.[That wasn't the rule already?] 3) No Easter Monday holiday in 2010 and 2011.” Some additional concessions in this AP report: 4) “The union also agreed to consolidate nonskilled labor job classifications into a team concept at all factories.” [You mean unskilled workers were separated into different classifications before?] 5). Performance and Christmas bonuses suspended for two years. 6) In what seems like the only major cut, retirees will lose dental and vision benefits, at least temporarily. … The 2015 contract will also go to binding arbitration if no deal is reached. I don’t know if this is a “concession” or a protection. … Most significantly, there is apparently no reduction in current UAW workers’ high basic wage rate of near $30/hour. See also “Hourly Employees Spared Painful Cuts in Chrysler Bankruptcy“.
Every last one of them ought to be put out of work, along with their awful management. There was a 20% overcapacity in auto production BEFORE the downturn. Let the weakest companies die. Let their workers feel the brunt of their Union’s greed.