PS. I have a much better feeling about the United Auto Workers union owning 18% of GM (and 55% of Chrysler). It's what economists call "selling the store": if management and labor have trouble working together, one solution is for the managers to sell the business to the workers. See also this analysis by Daniel Gross.
To provide the retirement and health care benefits its members want, the working man will have to become "the Man." If, indeed, there is an unending war between labor and capital, with one trying continually to screw the other, then it's a Pogo moment for the United Auto Workers. They've met the enemy, and it is them.
No comments:
Post a Comment