Labor unions are notoriously short-sighted. The UAW years ago demanded and got exceedingly costly contracts with the Big Three with such absurdities as full pay for laid off workers and six-figure compensation for forklift drivers. The firms are now struggling to remain competitive with labor costs that are far higher than those of their Japanese rivals. This article discusses the situation brilliantly.
The unholy alliance of Big Business and Big Labor now wants to have the taxpayers rescue the companies. Anyone want to pay for the greed of the UAW and the spinelessness of Big Three management?