Tag: auto bailout

disaster capitalism financial crisis The Corporation US economy
January 4, 2009

Labour Costs and the Auto Bailouts

One of the central issues that materialize when people talk about the bailouts for the auto industry is the high cost of labour.  Apparently, the Big 3 pay the average worker $73 per hour, but we should all know this is only kind of true. (Of course, when brokerages, banks and insurance companies are bailed out, no one asks why certain traders and executives continue […]

disaster capitalism financial crisis The Corporation
November 25, 2008

GM Doing Really Well … Somewhere Else

Executives of the auto industry are embarassing themselves as they go to Capitol Hill with cap in hand asking for handouts.  They talk of financial crisis, economic meltdown and no demand for their gas guzzling trucks and SUVs. They couldn’t see it coming. But somehow, their international operations do exceptionally well.  Full story here . There are a lot of reasons to be suspicious about […]

disaster capitalism financial crisis Politics The Corporation
November 20, 2008

GM: The Ultimate Robin Hood? Or Scammer?

Some people are questioning the decisions of GM executives to fly in their Jetstreams to Washington to whine about how broke the North American company is, but are few people even aware that GM is planning on spending more than $1 billion in Brazil on a manufacturing plant? They just earned a resounding NO from me.  Let’s try to aggregate that though and send a […]