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?
IPE @ UNC
IPE@UNC is a group blog maintained by faculty and graduate students in the Department of Political Science at the University of North Carolina at Chapel Hill. The opinions expressed on these pages are our own, and have nothing to do with UNC.
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Tuesday, November 11, 2008
What's Good for GM is Good for America, Right?
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