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To: ViperChick Secret Agent 006.9 who wrote (46450)	6/21/1998 3:26:00 PM
From: Jack T. Pearson	Respond to of 58727

Lisa, Thank you for posting the link to the Galbraith interview. It is frightening to have so much money in the market and yet agree with his observations. Jack

To: ViperChick Secret Agent 006.9 who wrote (46450)	6/21/1998 4:20:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 58727

The Galbraith article is interesting and sobering at the same time. Thanks for posting it.

To: ViperChick Secret Agent 006.9 who wrote (46450)	6/21/1998 6:20:00 PM
From: MtnMan	Read Replies (1) \| Respond to of 58727

From your GM article "Are we going to support our country or are we going to globalize?" said a (GM) Delphi (plant) striker who asked not to be identified. "Shouldn't there be political forces to protect our interests? Why are we having to stand up alone for everything?" I understand the emotion, but it's happening with or without them. Then again, is the desire for political intervention any different than Ruben buying Yen?.... -Neal

To: ViperChick Secret Agent 006.9 who wrote (46450)	6/21/1998 8:07:00 PM
From: Vitas	Read Replies (1) \| Respond to of 58727

Lisa, Galbraith has been predicting a "major adjustment" for at least a decade. He's a scholar - reads too many books, is in love with the intrigue of theory, and is a typical regressive liberal; look at the obvious and devise an obvious solution, which is of course, most of the time, obviously wrong. Vitas

To: ViperChick Secret Agent 006.9 who wrote (46450)	6/21/1998 8:42:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 58727

Excellent article, lisa -- the crux of the matter: GM said it stopped the improvements [for new equipment at the Flint metal-stamping plant] at $120 million [its contract with the Local 659 union called for $300 million.] Hackworth, the GM executive responsible for car manufacturing, said the company stopped when it was clear the union would fall short on its obligations. The contract with Local 659 required it to curb outmoded work rules, especially in a plant area where 1,500 workers make cradles that support truck and large-car engines. Workers in the cradle area are paid under an old plan that compensates them for each part they make. A worker can produce the minimum number of parts in five or six hours. Then, to keep the machinery churning out parts, the company has to pay workers overtime. Wages for the typical stamping plant worker reached $69,000 last year and GM said it paid another $21,000 in benefits. [well, what's new: an auto worker's union with excessively unreasonable demands, which far outstrip what other private sector manufacturing employees in the US expect or get.] Hackworth said the old compensation plan forces the plant to run excess overtime, including $33 million worth last year, one reason the plant lost $50 million. When the union refused to dismantle the work rules, GM decided it couldn't go forward and install a press in a plant with barriers to improving productivity. ----------- Fire 'em all.