I have to admit, the guy has balls.
Why a millionaire wants autoworkers to take a pay cut | Motoramic - Yahoo! Autos
The former head of the Obama administration's auto task force says he should have pushed the United Auto Workers for steeper sacrifices in the General Motors bailout, including wage cuts. The people earning $9 a hour in a suburban Detroit GM plant would disagree.
Roughly 900 workers at the top tier, the most senior UAW workers, make $29 an hour, a rate unchanged since 2008. Another 500 or so UAW workers are paid about $16 an hour a rate, adjusted for inflation, equal to the famed $5 a day Henry Ford started paying his workers in 1914.
And at the bottom scale are 200-odd workers technically employed by an outside supplier but who work in the plant moving parts to the assembly line, jobs once done by GM workers paid $29 an hour. The contractors' pay: $9 an hour with no health care, a rate which over a year's work would leave them below the poverty level for a family of four.
The UAW wants to move tier two workers up in the coming years, while all three Detroit automakers expect to expand the number of workers being paid the lower wage.
Why a millionaire wants autoworkers to take a pay cut | Motoramic - Yahoo! Autos