portfolio.com - 11/21/2008
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You might expect it from right-leaning commentators like Will Wilkinson . You wouldn't expect it from someone like Mark Perry , who lives in Flint, Michigan . And you certainly wouldn't expect to see it in the New York Times, from the likes of Andrew Ross Sorkin . But all of them are ...
portfolio.com - 11/19/2008
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portfolio.com —
You might expect it from right-leaning commentators like
Will Wilkinson . You wouldn't expect it from someone...
like Mark Perry , who lives in Flint, Michigan . And you certainly wouldn't expect to see it in the New York Times, from the likes of Andrew ...
(more)
The Return of the $70 Per Hour Meme
portfolio.com - 11/22/2008
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portfolio.com —
Tim Geithner has an important article in the
FT today, headlined " We can reduce risk in...
the financial system ". He's entirely right, and his proposals are entirely sensible. Geithner was one of many regulators who warned about the credit bubble while ...
(more)
Geithner's Plan to Revamp Global Financial Regulation - ...
portfolio.com - 11/21/2008
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portfolio.com —
Richard Baldwin of VoxEU gives us a sneak
preview of a new article by Jon Danielsson: In...
this crisis, the strength of a bank's balance sheet is of little consequence. What matters is the explicit or implicit guarantee provided by the state to the ...
(more)
Who Would Bail Out Switzerland's Banks? - Finance Blog - ...
Comments
Blog Reactions
How much is a detroit autoworker really worth?
Megan McArdle —
... Felix Salmon argues that this figure for GM's labor costs is deceptive. Sort of, but it's actually quite apt at showing the core problem with GM. ...
Low Budget
Unqualified Offerings —
... the “$70/hour” figure some are bandying about for UAW compensation at the Big Three, arguing that the figure is “deceptive. Sort of, but it’s actually quite apt at showing the core problem with GM.” You get the figure as follows, per Felix Salmon : The average GM assembly-line worker makes about $28 per hour in wages, and I can assure you that GM is not paying $42 an hour in health insurance and pension plan contributions. Rather, the $70 per hour figure (or $73 an hour, or whatever) is a ridiculous number obtained by adding up GM’s total labor, health, and pension costs, ...
Seeking the Wisdom of the Crowd
Obsidian Wings —
... and Salmon, who say $28). Basically, to get to $70, you have to add in retiree health care. And so here's the part I don't understand: ...
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