Tuesday, November 11, 2008

What's Good for GM is Good for America, Right?

. Tuesday, November 11, 2008

Update: My estimates of wages are not far off, but I just found more complete estimates here.

239,341: The number of people employed by the "big three" auto companies
$25 billion: the amount of money US taxpayers have loaned to the big three.
$x billion: The amount of additional money Nancy Pelosi, Harry Reid, and PE Obama would like to loan to the big three.
$104,453 + 4178x: The amount of government lending per current big three job.
$29,376: Annual salary for entry level worker under 2007 UAW contract (excluding benefits and bonuses).
$58,500: Annual salary for experienced worker under 2007 UAW contract.

So, if my math is correct, what we propose to offer as a bridge loan could pay all big three workers their entire wage for two full years. And then what?

One last number:
113,000: The number of people employed in the US by foreign auto companies. Do they get a handout too?


What's Good for GM is Good for America, Right?
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