A New York Times Op-Ed contributor paints a stark picture of General Motors and lays the blame for the impending failure squarely at the feet of outlandish union pension and health care benefits.
The title of his book: “While America Aged: How Pension Debts Ruined General Motors, Stopped the N.Y.C. Subways, Bankrupted San Diego and Loom as the Next Financial Crisis.”
There is still time to keep Kentucky from becoming a sad epilogue to this train wreck, but we are off to a bad start.
Thursday, July 10, 2008
What kind of car does Jody Richards drive?
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5 comments:
You should take a poll from the legislators in KY and see exactly what kind of vehicle they primarily drive and where it is built? That would say a lot about each person's loyalty to the state and nation.
Well said David, and excellent comparison.
Anyone operating without blinders knows that the unions destroyed Detroit, them and their liberal friends they helped elect to Congress who overregulated industry!
Hye Anon 11:54, my loyalty to my nation is second to none, but when it comes to supporting American car manufacturers where union members contribute heavily and very actively and sometimes racidcally and violently to the election of leftists, I have no problem supporting Toyota, thank you very much!
The unions blew it for the workers in Detroit and the workers blew it by allowing unions to be so leftist politically oriented, contrary to the beliefs and values of most union members.
No sympathy here, sadness yes, but no sympathy. They are sleeping in the bed they made!
The state of Kentucky stands at the crossroads at the begininng of this new century. It currently has in place a tax structure, one of the many unfortunate products of an Old Constitution that not only economically oppresses the poorest and neediest citizens, but also denies the children of these families a minimum opportunity to seek a better life.
Untill THE PEOPLE DEMAND IT Kentucky will become a 3rd World economy quicker than most believe.
dash
As will the entire nation dash, which is part of the planned destruction of America. Read "Financial Terrorism".
The problem is not the union. It is organization leadership. The union agenda and playbook are clear and consistent - they are going to maximize wages & benefits for members at the least expenditure of effort. Leadership always has an option to absorb short term pressure for long term benefit. Unfortunately, leadership in the state government and the legislature are conflicted to avoid short term pain just like the auto execs. Our public servants get the pensions they don't want to change and need union and state worker votes to keep their unaccountable positions even though the state can't afford it. No pain, no gain. Taxpayers will feel the real pain unless leadership finds some courage.
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