[lbo-talk] Junkyard dog hits Motown

Russell Grinker grinker at mweb.co.za
Wed May 16 07:27:13 PDT 2007

There's a long and sordid history of labour movement attempts to buy up rust bucket engineering and car companies in an attempt to save jobs. There was the infamous Triumph Meriden workers' coop in Coventry that tried to run the bankrupt Triumph works and failed. It seems clear that what capital can't succeed in doing under market conditions is hardly a job for labour. Coop members ultimately just end up cutting their own wages and conditions until things go belly up anyway.

Back on the subject of why American car companies are moribund: did they not go the same way as old Brit industry, preferring to play the financial markets rather than innovate? Interestingly, here in SA, GM's cutting edge products are all Korean (and compact) these days. You hardly see a large American car or pickup (apart from Daimler Chrysler's Jeeps and a few Mpvs - but their factory is in the town where I live). Japanese and Korean SUVs and pickups have however got much bigger. Long gone are the days of huge farmers in tiny Nissan 1400 pickups. And now cheap Indian-made vehicles, including their own SUVs, are starting to make inroads here.

-----Original Message----- From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org] On Behalf Of Wojtek Sokolowski Sent: 16 May 2007 04:01 PM To: lbo-talk at lbo-talk.org Subject: Re: [lbo-talk] Junkyard dog hits Motown


I really don't know what I'd do were I in their shoes. I've never gotten a good answer out of labor radicals, who can't get more specific than "resist!"

[WS:] Yeah, the radicals seem to be stuck in a rut. But if you want out of the box thinking - why did not the union buy the share of the damned thing? It was sold cheaply. Or bargain for stock options - which would give them at least some say about company policy - or at least more than making a ruckus in the streets.


___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk

More information about the lbo-talk mailing list