Remember when we were told that the average retired city worker in Detroit was receiving a pension of no more than $19,000 a year? Well, it turns out that was only sort of accurate. In fact, when there was extra money in the pension system, it was paid out in the form of “bonuses to…
Tag: Detroit
What’s up with Detroit ?
By now only the willfully ignorant do not know that UAW members make $73 an hour, or rather the labor costs at Ford, GM, and Chrysler come out to roughly that figure, thanks to lavish benefits for retirees on top of an approximate $50 an hour wage for actual workers, comparable to non-union auto workers’…
Alan Vanneman has a heart of gold
To prove it, I’m linking to one of the noirest, if not bêtest, of my bête noirs, the Weekly Standard, to bring you Irwin Stelzer’s words of wisdom re the economics and the politics of the auto industry. Bottom line: Let GM go Chapter 11, and provide government backing for GM warranties. “Throw in government…