[lbo-talk] The tragedy of the UAW in three acts

Michael Pollak mpollak at panix.com
Tue Dec 23 23:24:29 PST 2008


http://www.balloon-juice.com/?p=14260

THE TRAGEDY OF THE AMERICAN AUTOMOBILE INDUSTRY:A Play in Three Acts

Dramatis Personae

BIG THREE, a manufacturer of automobiles

UAW, Big Three's employee

MITT ROMNEY, an idiot

ACT ONE

BIG THREE: I have plans to build automobiles, but I need labor to do

so!

UAW: I will labor for you if you will pay me $40 per hour.

BIG THREE: I will not pay you $40 per hour.

UAW: But I need to save for my inevitible retirement, and any health

concerns that may arise.

BIG THREE: I will pay you $30 per hour, plus a generous pension of

guaranteed payments and health care upon your retirement.

UAW: Then I agree to work for you!

ACT TWO

UAW: I am building cars for you, as I have promised to do!

BIG THREE: I am designing terrible cars that few people want to buy!

Also, rather than save for UAW's inevitible retirement when I will

have to pay him the generous pension of guaranteed payments and

health care that I promised, I am spending that money under the

dubious assumption that my future revenues will be sufficient to

meet those obligations.

ACT THREE

UAW: I have fulfilled my end of the deal by building the automobiles

that you have asked me to build.

BIG THREE: Oh no! I am undone! My automobiles are no longer

competitive due to my years of poor planning and poor judgment!

MITT ROMNEY: This is all UAW's fault!

Discuss.



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