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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (435407)	11/18/2008 1:39:57 AM
From: i-node	Read Replies (1) \| Respond to of 1573827

I just learned that back in the early '80s GM's negotiations with the unions ended up with what's called 'job banks' where laid off employees get almost full pay for basically doing very little. Now what part of "that's stupid" did mgmt not get. Tip of the iceberg. It is stupid, but what you have to understand is these unions were so much in control of the auto plants that by the 80s management literally had no control over their own business. Years before, they could have done something about it. But the current management is just living with bad decisions made decades ago. Today's management will WELCOME the union concessions that ought to be required for any bailout to occur. They are no longer able to do it for themselves. The unions have wrecked these companies more than any other single factor.