Should the big 3 be bailed out?

[Brian Minkin]

Some facts to stir further discussion on the original topic.

The UAW contract that they say is full of concessions is not exactly so.  In this contract new union members will work at wages competitive with non union plants such as Toyota.  These people will make about $35 an hour including all benifits.  Current union members however are paid $76 and hour including benefits and are not taking a cut to save the industry.  Yes they have given back a little in the cost of health care and other benefits, but the biggest piece of the pie which is the hourly pay of current members certainly does not help the big 3 sell competitive products and make a healthly profit margin.