Topic: Newsmax
From a Dec. 3 Newsmax column by E. Ralph Hostetter:
Auto execs’ agreeing to nominal pay and forgoing perks won’t translate until much long term unless they address their main systemic problem: labor unions.
Using GM as an example, labor costs, including wages and benefits, have been $73.26 an hour, so a 40-hour week paid the GM worker $2,938 a week, including all benefits.
In fact, autoworkers do not make "$73.26 an hour" or "$2,938 a week," as Hostetter claims. That figure includes not only future retirement benefits for current workers, but also benefits paid to current retirees.
Hostetter has a history of making false and misleading claims.
Posted by Terry K.
at 2:37 PM EST
