ST Alpha - "Easy; the banks aren't run by unions who vote heavily democratic." (Reading a Post)

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In response to "Ok, I have a dumb question about this whole deal. I'm trying to figure out how a $700 bil bailout of the banks who've proven" by Jim

Easy; the banks aren't run by unions who vote heavily democratic.

Posted by Will Hunting (aka JoeMetz) Dec 12 '08, 06:54

watch the spin here; the GOP is hanging the unions (justifiably in some cases) out to dry.

If bankrupt, companies can re-do contracts and break the backs of the union.

Remember, this is a union that for years had janitors making starting salaries of 50k+

for 50k a year, you could hire 4 people at minimum wage to do that job.

Responses:

And would 4 people making minimum wage have the same economic impact in terms of consumer spending as the one making $50k? - znufrii Dec 12, 07:04 14
- If the company is going broke for spending issues, and 1 person can do 100% of the work, getting that done for 25% of cost is a huge savings. - Will Hunting Dec 12, 07:06 9
  - I understand what you're saying completely, but your argument is missing the forest for the trees. - znufrii Dec 12, 07:09 5
    - I'm not even bothering with the wider economic issues here or I'd be mentioning the millions of suppliers who depend on Detroit for their jobs. - Will Hunting Dec 12, 07:12 4
      - okay, so we kick the unions out, and cut everyone's pay by 2/3rds. - znufrii Dec 12, 07:19 3
        
        Maybe GM and them don't need 15billion every 2-3 months to remain in business. - Will Hunting Dec 12, 07:20 2
        
        so they can keep churning out trucks that nobody wants to buy? - znufrii Dec 12, 07:24 1
        
        obviously they have to change that as well. -- nm - loosilu Dec 12, 07:32
  - this is legit, IMO. -- nm - loosilu Dec 12, 07:07 2
    - I'm a fan of unions when they're not asininely stupid. - Will Hunting Dec 12, 07:08 1
      - to clarify, I don't disagree with your point, I just don't think you're presenting a very compelling argument in favor of it. -- nm - znufrii Dec 12, 07:10
- who is making minimum wage here? the bank workers or hte auto workers? -- nm - loosilu Dec 12, 07:04 3
  - Will's illustration of one janitor making $50k/year, when you could hire four people at minimum wage to do the same. -- nm - znufrii Dec 12, 07:05 2
    - sorry, too early for me. ;) -- nm - loosilu Dec 12, 07:06
    - all because of the evil unions, you see... -- nm - znufrii Dec 12, 07:06
You are 100% correct...this trouble with deal is all about the unions...I'm willing to bet, no matter what they gave up, it wouldn't have mattered - The Calico Cat Coalition Dec 12, 06:59 1
- also... I think the general public has less to lose from GM going down than from losing their house. -- nm - loosilu Dec 12, 07:07

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Easy; the banks aren't run by unions who vote heavily democratic.

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