Word: nonunionism
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Meanwhile, Chrysler plans to cut 25% of its 18,000 nonunion salaried workforce before Christmas. In an e-mail to employees, Nardelli said the layoffs would be handled as humanely as possible as he urged employees to retire or accept buyouts. Cash for the buyouts will apparently come from the $11 billion in reserves the company had on hand at the end of the summer. "The combination of troubled financial markets, difficult credit, volatile commodity prices, the housing crisis and declining consumer confidence continue to weigh on the economy," Nardelli said...
...Ohio, even good news has dark shadows. The local Whirlpool plant employs about 4,000 people and produces 23,000 clothes dryers per day, but it's nonunion. "It takes a while before you're making $30,000 a year there," Hughes told me. "Hard for us to give mortgages to people making so little." But it's not hard for predatory lenders. The mayor of Marion, Scott Schertzer, told me that "we've gone from 57 foreclosures 10 years ago to more than 500 last year...
...first time, told me after the church service. His wife Kim joined us and said Bob had been a salaried worker at AK Steel, "and the union was a big problem there. They worked at not working." Eventually there was a lockout-and AK Steel reorganized itself as a nonunion shop. "They're making big profits now," Bob said. "You wonder why there can't be some middle ground" between the old-fashioned, inflexible unions and "the ceos selling out these companies, shipping jobs overseas...
...lost $2,311, according to Harbour Consulting. For starters, the transplants, generally with reputations for higher quality than American brands, don't offer the deep discounts that U.S. makers employ. And foreign manufacturers don't carry the legacy costs that drag U.S. companies down. Workers at foreign companies' nonunion shops make roughly the same in wages and benefits as unionized employees in Detroit. But Asian and European firms, with younger workforces in the U.S., aren't saddled with crippling pension and health-care obligations. GM spends $1,525 per vehicle in the U.S. on health care, compared with...
...other 19 years of his employment history came courtesy of Union Pacific's board of directors, which included Vice President Dick Cheney. And then there's Leo Mullin, the former chairman and CEO of Delta Air Lines. Under Mullin's stewardship, Delta killed the defined-benefit pension of its nonunion workers and replaced it with a less generous plan. Now, little more than a year after he retired, the airline is in bankruptcy and can dump its pension obligations. But you need not fret about Mullin. On his way out the door, he picked up a $16 million retirement package...