GM

[TGRR]

Originally Posted by sycamore

I'm not the biggest union fan, but based on what I've read and seen, the UAW is not really much of a problem in this situation. The job bank thing...yeah, that seems ridiculous, but that's gone now, if I'm not mistaken. GM was more than willing to pay what the UAW wanted and could afford it at the time. The members work hard; they deserve to make good money...it's not like they're making bazillions.

And it's easy to pick on the costs that the unions bring when those similar costs are covered by the government in Japan, Germany, etc.

Problem is, the union was too stiff-necked to bend the necessary amount when things got tough.

In the end, they - collectively - were dumb, and Adam Smith's "invisible hand" has come along to punish them for their stupidity.