That’s Right Nate

Thoughts from a right thinker.

Toyota Latest Union Victim

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While the rest of the country is dealing with a huge recession, the United Auto Worker members continue to ride high on the gravy train oblivious to the harm that a luxurious lifestyle that includes health care and retirement pay causes others.  Word now is that Toyota is the latest victim of UAW greed posting their worst year since 1938 losing 1.7 billion dollars in the process.

The tough times are hitting us far faster, wider and deeper than expected,” Toyota President Katsuaki Watanabe told a gloomy news conference at the company’s Nagoya headquarters. “This is an unprecedented crisis requiring urgent action.”  With even Toyota struggling to keep up with the union’s escalating demands what hope do Ford, Chrysler, and General Motors have.

The biggest thing killing the car companies are so called legacy costs.  These refer to things like health care and retirement plans.  Henry Ford had a great health care plan–you come into work or you don’t get paid.  You’d be amazed at how rarely his workers let a broken leg or other ailment keep him off the job.  Ford didn’t believe in retirement plans either.  If you were young enough to be out of a nursing home, you’re young enough to weld.  It is only when we return to these great American values that the car companies will have a chance to survive.

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Written by thatsrightnate

December 22, 2008 at 8:07 pm

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