The Automotive Industry – It's High Points, And Pitfalls
The automotive industry used to be of of America's strongest industries, they'd buy up land and build plants all over the world, they'd put hundreds of thousands of people to work, they'd take their time and build a very high quality car.
But over the years the upper, and middle management of all of them, along with the big wonderful UAW would take them down, the UAW with it's outrageous pay for the workers at the plants, along with sweetheart retirement plans, severance packages, and lifetime health insurance.
The management was padding their pockets, and cutting corners on the cars so they could keep doing it, these people were taking home huge yearly pay checks, along with stocks in the companies, and whatever else that could finagle out of the business.
These things combined would eventually take them down, force them to down size, and file a chapter 11 to reorganize that business side of things and keep them in business, and then along comes Obama who had the wonderful I idea to socialize the private sector.
Two out of the big three bought in to the government bailout of the industry, lock, stock, and barrel, they dived in head first, and then Obama comes in and decides to help them out by paying off the UAW first, and gave the union a huge amount of GM, and Chrysler.
This should have never been done in the first place, they should have been made to stand in line just like all of the other creditors, in bankruptcy that law says that you have to pay back the secured creditors before the non-secured ones can be paid, but no in this case, the union came first.
Love that UAW, or hate it, they are a bunch of corrupt money grubbing idiots just like all of the politicians, it all just trades one evil, for another, it helps Obama's buddies in the union, and leave the other out in the cold, it illegal and never should have happened.
The union hasn't really been needed in this country since the 1950's, how many sweat shops do you know of, these were the reason for the unions to be created in the first place, and back then they were needed, now most people get paid, according to what they know.
The automotive industry could have done a lot of things to stop these events from happening, they knew that it was coming and tried to hide it, I guess they were thinking it would go away, they could have pulled all operations back in to this country, and cut the our sourcing off completely.
They could have not signed the UAW contract, and if they had to, they could move their corporate headquarters out of Detroit so they could get rid of the union, and that constant beating over the head, they could have decided not to cut corners on their car to pad their pockets.
These few things would have gone a long way toward helping them stay out of the situation that they got in to, the imports were never better built, they were cutting corners at the same time, our automotive industry just got stupid, and greedy.
Questions and Answers
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