according to Forbes- auto bailout

[billybob]

"Labor cost per hour, wages and benefits for hourly workers:

Ford: $70.51 ($141,020 per year)

GM: $73.26 (146,520 per year)

Chrysler: $75.86 $151,720 per year)

Toyota, Honda, Nissan (in USA) $48.00 ($96,000 per year)

According to AAUP and IES, the average annual compensation for a college professor in 2006 was $92,973 (average nationally of $73,207 plus 27% benefits)

Bottom line: The average UAW worker with a high school degree earns 57.6% more compensation than the average college professor with a PHD and 52.6% more than the average worker at Toyota, Honda, and Nissan.

Many of the analysts say the Detroit Three must be on par with Toyota and Honda to survive. This years contract, they say, must be "transformational" in reducing pensions and heath care costs. This mens UAW workers with high shool degree would have to accept compensation equal to that of the average professor with a PHD."

Very interesting reading, its either that or we bail them out over and over, thats my opinion not Forbes.

[bluffmanxx]

That's why chapter 11 makes sense. The reorganization would allow the automakers to get out of their UAW contracts. Bankruptcy does not mean liquidation.

BTW, you forgot to mention the "Job Bank" - but you put the pay differential into perspective.

If the "big 3" are allowed to continue with business as usual, any money sent to them is the same as flushing it down the drain.

[voodoo1215]

I heard Toyota U.S., pays their average employee somewhere around 15.00 an hour, but gives them a percentage bonus on Vehicles sold.

[DJQ]

Geez are you people gullible!!!


Turn off "Fix News" and Rushbo for a minute and do some thinking for yourselves...


Average UAW Pay: $28, Not $70 - Associated Content

The UAW reports, and news organizations have confirmed, that the average wage for a veteran auto worker is $28 per hour.

How did the $70 per hour myth grow roots? Conservative analysts have chosen to divide the automakers' total personnel expenses by the number of active workers. This means that $70 per hour statistic includes all pensions and benefits being paid to retirees - in other words, other people.

[ColdCase]

Geez are you people gullible!!!


Turn off "Fix News" and Rushbo for a minute and do some thinking for yourselves...


Average UAW Pay: $28, Not $70 - Associated Content

Research, brother, research!

Ask Bluffy about dat!

[Moab]

Hummm .. did these ditto heads take the time to question why the Japanese auto industry went through the same hard times we're going through .. Ooh wait they're still having problems selling their car's ..

[spaceboy761]

(speaking with the information of a GM-employed friend here) The average UAW Cost of labor is about $75/hour, but about half of that is legacy cost.

So the current employees make about $37/hour in total compensation which means salary, benefits, pensions, the whole deal. This also means that about $37/labor hour on each car goes to the benefits and pensions of retirees... that is completely unsustainable by any measure.

No amount of bailout money would help the situation unless it's tied to the restructuring of those contracts. Until those legacy costs are brought down, the companies will just continue to take on water. I have no clue how those contracts got negotiated to begin with other than to say that the UAW used the threat of a strike to get ridiculously greedy.

[spaceboy761]

Or maybe some of my old buddies can just run Ford out of town the way they did Bear Stearns, Citigroup, Lehman, AIG, Merrill, GM, and probably GE

Bloomberg.com: Exclusive



So easy, a caveman could do it.

[motherfunky]

$37 an hour? they need a raise if anything

[Moab]

(speaking with the information of a GM-employed friend here) The average UAW Cost of labor is about $75/hour, but about half of that is legacy cost.

So the current employees make about $37/hour in total compensation which means salary, benefits, pensions, the whole deal. This also means that about $37/labor hour on each car goes to the benefits and pensions of retirees... that is completely unsustainable by any measure.

No amount of bailout money would help the situation unless it's tied to the restructuring of those contracts. Until those legacy costs are brought down, the companies will just continue to take on water. I have no clue how those contracts got negotiated to begin with other than to say that the UAW used the threat of a strike to get ridiculously greedy.

I have a novel idea .. Lets raise the earnings for US workers across the board so we can keep up with the upper class in earning and spending power. The wages for the working class haven't increased with the cost of living since Reagan, some economist suggest that we the working class have actually fallen behind the earning curve.