[lbo-talk] That was then... But this is now

[Leigh Meyers]

*Then:*
[...]
Ninety-one years ago Henry Ford shocked corporate America by abruptly announcing that he would roughly double his workers' average wages to $US5 a day. For the first time, many Ford line workers could afford the Model Ts they were assembling. 
[...]

*Now:*
[...]
Delphi, a division of GM until 1999, is seeking to cut pay for its 34,000 unionised workers by as much as two-thirds, to as little as $US10 an hour. One union local pointed out in a letter to its members that at those wages, they could no longer afford to buy the new cars that contained the parts they produce. 
"You couldn't even afford the gas," said Douglas Fraser, the former president of the UAW...
[...]

http://leighmdotnet.blogspot.com/2005/10/sydney-morning-herald-auto-parts.html

Leigh
www.leighm.net

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