United Auto Workers (UAW) President, Ron Gettelfinger on the role of his union in the current financial tailspin of domestic automakers, Ford, GM and Chrysler. Gettelfinger claims that the union is willing to put their wages and benefits out on the table to negotiate with the management of those companies to save the businesses, but the Believability Meter doubts his sincerity. There is widespread speculation that the costs per vehicle of the union members' wages and benefits, significantly higher than other American employees at competing foreign factories, are largely to blame for the inability of the Big Three to get out of the red. Gettelfinger denies those claims and says that what they are demanding from the federal government is not a bailout, although the Believability Meter would seem to disagree. Are labor unions distorting the market and doing more harm than good these day?

The content presented on this website is provided for entertainment and
general informational purposes only and is not to be regarded as investment
advice.  Investing involves risk, and you are encouraged to obtain
professional financial advice when investing.