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Southern Strategy for Industry Restructure | WaPo | 12 Dec 2008

An eleventh-hour effort to salvage a proposed $14 billion rescue plan for the auto industry collapsed late last night as Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers, killing the legislative plan and threatening America's carmakers with bankruptcy. ...

Sen. Bob Corker (Tenn.), the lead GOP negotiator, said the sides were on the brink of a deal on the amendment he had offered. Representatives from the United Auto Workers -- who were present for most of the negotiations -- would not agree to a specific date, Corker said.

"We offered any day -- any day -- in 2009," Corker said. ...

Corker -- a freshman senator who a few years ago was mayor of Chattanooga -- was a strong opponent of the House plan to save the automakers. He and other Republicans had revolted against the earlier plan because they thought it did not go far enough in forcing contracts on the UAW. GM officials have told Congress, for instance, that under the most recent contract, labor costs would be about $62* per hour in 2010 -- $30 per hour in wages and slightly more than that in benefits to current workers and retirees. That's about $14 per hour more than at Toyota's U.S. plants.

Senate cloture front to automotive bill, ROLL CALL
is extension of AMT credits. Note twelve no-votes, thirteen including Obama. Apparently, Mr Kerry was at Poznan.

House ROLL CALL.
HR 7321 reportedly differs with draft Senate bill.

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*That number is a composite, promoted by GM, of selected union wages, averaged, plus employer pension obligations and benefits expenses for both current and retired union employees. That number is down from $70/hr due to UAW challenge to its accuracy in recent months. Granted, the "Smart Car/Smart Grid" implications of Volkswagon's investment in TN aren't readily available. But I'm thinking that I had better investigate the issue of foreign automaker "alliances" in the US.

Diversity is the key to economic and political evolution.

by Cat on Fri Dec 12th, 2008 at 11:55:04 AM EST
[ Parent ]
Gee, $30 an hour. 60 Grand. A third gone to fed/state taxes, so 40 grand. A couple grand a month for a house, plus property taxes and paint, so now they have 15 grand for food, car, insurance, school expenses, that huge two week vacation, a little vig for the local church...man, they must be livin' large.

No wonder those fuckin' millionaire Senators are after their middle-class lifestyle.

What are they thinking? Who's gonna buy their stupid products if they are paid like slaves.

I wish I was still living over there so that I can leave.

Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Fri Dec 12th, 2008 at 12:16:13 PM EST
[ Parent ]

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