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...Such comparisons are not unfounded. Like GM, JAL is teetering on the brink of failure and has been forced to extract huge concessions from its employees to stay in business. So far, retired workers have been asked to accept half their pension payments; the airline also plans to cut 14% of the workforce (about 6,800 jobs) over the next three years and to suspend or reduce tens of international and domestic routes. That's not enough, however. JAL reportedly needs more than $1 billion just to continue services into next year. So Nishimatsu has been forced...
...about $1 billion last quarter and projects a loss of about $700 million for this fiscal year. With nowhere else to turn, JAL CEO Haruka Nishimatsu this week met with Transport Minister Seiji Maehara to discuss a government bailout, inviting unflattering comparisons between the Japanese airline and American carmaker GM...
...average American. In 1947 and '48 the union even offered to cut wages if the Big Three would reduce the price of their cars. But by the early 1980s, the UAW had entered into a nakedly self-interested pact with the auto companies. After the union's president joined GM's chief congressional lobbyist to defeat a tougher mileage standard in 1990, the lobbyist declared that "we would not have won without the UAW." It was, he said, "one of the proudest days of my life...
...members - that game required two players, and the automakers knew only how to say yes. But the union leadership's fatal mistake was insisting that workers with comparable skills and comparable seniority be paid comparable wages, irrespective of who employed them. If a machinist at a prosperous GM deserved $25 an hour, so did a machinist who worked for a barely profitable Chrysler or for a just-holding-its-own supplier plant that made axles or wheels or windshield wipers...
...adaptable model. The fuel-cell technology that dazzled me at the GM Tech Center is less about autos than it is about energy - energy, as hydrogen, that exists in every molecule of water. What's to stop us now from turning Detroit - its highly trained engineering talent, its skilled and unskilled workforce desperate for employment, its underutilized production facilities - into the Arsenal of the Renewable Energy Future...