Plus what benefits?


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Posted by Chris Case [75.36.32.16] on Tuesday, August 21, 2012 at 11:30:42 :

In Reply to: : New Process Gear moved to Mexico posted by dc [96.39.166.175] on Tuesday, August 21, 2012 at 09:57:22 :

The benefit packages are whats killing 'American' auto production. Not just the amount, but the fact that the defined benefit plans are unfunded, so this year the corps have to pay out to ALL surviving retiress from this years profits. And they can't just raise prices amongst the UAW monopoly, rising tides float all boats, because the 'foreign ' makers are competing. The newcomer foreign makers like Toyota, Honda, etc, are using defined contribution plans. No billions of dollars in pension obligations from years past, only this years. Pay for one hours work, put x amount into the pension. This payday.

The Big Three / UAW business model can't work anymore.



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