GM is announcing profits today for the first time in a decade. The last time they announced profits, Chris Cross was telling me to Jump, Jump.
So what to do with $4.7 billion? Well, you could repay the US taxpayer, who still owns 61% of GM. Since the US government is having problems with its own accounts, a little check from GM would be great.
Or you could pay your 45,000 workers a $4,300 bonus and give incentives of 4 to 16 percent to 26,000 salaried workers.
This is what is killing the little guy and why the Wisconsin revolution is as future telling as the Middle Eastern one. 1) People hate that the little guy, the taxpayer, is getting the short end once again. And this time 2) it can weakly be attributed to unions, since the GM payouts are contractually obliged.
As a Democrat, I’ll be the first one to stand up and shout out that there needs to be a united force standing up for workers rights. But as a taxpayer and an American wanting our country to prosper, I’m leery of the collective bargainer whose demands well exceed the average Joe.
The Wisconsin debate and the GM press release illustrate the same forces in action. Powerful business lobbies and union driven employee lobbies are fighting for the last pieces of pie left in America. Whoever wins, you can be guaranteed they’ll be no slice for you and I.
