Thursday, March 23, 2006
I saw today that GM is offering a buyout to its union employees to reduce its pension and health care load. GM lost 10.6 billion last year. Sad commentary on the dangers of health care run amok, unionization and companies run by committee rather than by individuals. It is amazing to think that Toyota may well pass GM this year as the world’s largest car manufacturer. Somebody needs to slice the Gordian Knot of regulation and intrusion by the barrister/ho/entitlement complex. At what point will it all become unworkable? One of the reasons, aside from cost, that manpower is moving overseas is that there is simply less paperwork to deal with, and in the words of Ayn Rand, fewer “looters”.