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Magic and pensions
SCSUScholars —
... I bring this up in the context of Felix Salmon's post on the use of $70 or $73 per hour as a number to represent the cost of an hour of labor in producing an American automobile: ...
Microblog 2008-11-19
Overlawyered —
Some backers of big national service plan say better roll it out now before the crisis atmosphere passes [Welch, Reason "Hit and Run"]
Sorry ma’am, if hubby’s policy excludes coverage for injury to family members, you can’t blame him as “uninsured motorist” [The Briefcase, Ohio]
Much-cited “$70/hr” figure for GM labor costs misleading: covers army of retirees, not just current workers [Salmon]
Thoughts on alleged inability of GM to get debtor-in-possession financing for a Chapter 11 ...
About Those Auto Worker Wages...
Daily Kos —
... get too generous a benefits package--he may want to ruminate on this fact: only cars built in the US have built-in health insurance costs, because other cars are built in places like Japan or Germany that provide health insurance to all citizens, or they're built in places like Mexico or Brazil where the workforces are non-union and don't receive health care. Which brings us to Kyl's lie. DKos diarist Inky99 was on this bs the other day, and discovered this debunking of Kyl's $73 per hour claim: The average GM assembly-line ...
I Wish I Could Be Thankful For $70/Hour Pay For Auto Workers
DownWithTyranny! —
... would come to nearly twice his or her wages. (Talk about gold-plated coverage!) Instead, each active worker is getting benefits equal only to a fraction of that--probably around $10 per hour, according to estimates from the International Motor Vehicle Program. The number only gets to $70 an hour if you include the cost of benefits for retirees-- in other words, the cost of benefits for other people. One of the few people to grasp this was Portfolio.com's Felix Salmon. As he noted yesterday, the claim that workers are getting $70 an hour in compensation is just "not ...
