Post Number: 1189
|Posted on Tuesday, March 20, 2007 - 7:51 am: || |
http://news.yahoo.com/s/nm/200 70319/ts_nm/usa_subprime_detro it_dc
Post Number: 1566
|Posted on Tuesday, March 20, 2007 - 8:13 am: || |
They are having a field day at Fark bashing Detroit.
Post Number: 434
|Posted on Tuesday, March 20, 2007 - 8:29 am: || |
I do agree with this statement though:
Also, I had a lot of sympathy for GM's healthcare liabilities until I crunched the numbers and realized that their recent increases to their executive pension package would have paid for those liabilities for almost 2 decades. Besides the companies are the ones that agreed to those packages and for selfish reasons. Rather than give the workers a raise back then, they promised to take care of them medically now. They got more profits back then and pushed off a liability until today. They knew this was coming and could have invested/bought annuities back them to fund this, but they didn't; preferring to declare fat dividends and executive raises.
Don't blame the Unions because GM management is comprised enitrely of short-sighted dumbasses