"That last figure accounts for the biggest difference between labor costs of the Big Two and a Half and those of the "transplants," as foreign carmakers with manufacturing facilities on U.S. soil are called. Ford, in material it submitted to Congress for hearings this month (see "Congressional Submission Appendix (PPT)"), estimated the transplants' legacy costs at about $3 per hour, a number that has less to do with the level of benefits paid than it does with the fact that the transplants don't have many retirees yet, according to economist Kristin Dziczek of the Center for Automotive Research.
The Ford chart also estimates that, as a result of a historic 2007 labor agreement with the UAW, the legacy costs of the U.S. automakers are expected to fall ? to about $3 per hour. That's because the deal calls for a new voluntary employee beneficiary association (or VEBA), a seldom-used 100-year-old tax loophole. A VEBA is a tax-exempt trust that can be used to fund almost any sort of employee benefit, but they are most commonly used to pay for health care expenses."
There's no such thing as a pretty good aligator wrestler.
I have got to see it happen. If they are using a tax loophole it might be possible. Still the legacy costs over all are more because of the number of retirees with the big three over the foreign auto makers.
Damn unions ruin everything. We all know they are the ones that come up with long term business plans and marketing and engineering decisions. Heck, the unions run the world!!!!!!!!!!!!!!!!!!!!!!!!
May they all perish and let management take over the assembly lines. We all know that they need to get a blister from something other than a golf club.
Jacob Schlottke---Gone too soon, and the world is a little less bright because of it. RIP, brother.
One, two, Evans is coming for you...
Thank you for admitting that labor contributed something to the enterprise. As for the specter of wages, aren't creditors paid interest, not to mention whatever other perks come with that status? In other words, I presume they've already rec'd something for their contributions too. As for future expectations, the workers had them too, not the least their pensions, which are not included in their wages. Priority of payments are a separate matter. I just had to comment in the face of the usual disingenous argument--the implication that workers contributed nothing and are entitled to nothing, whereas the creditors, the poor creditors, are somehow getting the shaft because of the dirty union that put the CEOs on the floor until they submitted to their demands.