The latest doom-and-gloom, sturm-and-drang, sky-is-falling angst from the analysts comes regarding the Detroit automakers cutting costs by issuing golden parachutes to skilled laborers with 30 and 40 years of experience. Combined by the lack of vocational training and apprenticeships in schools these days and compounded by high training costs, the number-crunchers are worried that it could be ouchy for the Three. That said, it also offers Motown corporations a chance to restructure in a more flexible way that could ultimately help them compete with the foreign onslaught. Just for giggles, we're wondering how this would play in Bill O'Reilly's No-Spin Zone.
Buyouts drain Big 3 brain power [Detroit News]
Related:
GM, UAW Reveal Details of Agreement for Health-Care Cuts [Internal]