Wednesday, November 10, 2010

Interesting Tidbit in GM's Quarterly Report

"GM has reduced U.S. hourly labor costs to an estimated $5 billion this year, from $16 billion in 2005, Chief Financial Officer Chris Liddell said in the roadshow presentation. " (Full article here.) An $11 billion dollar swing in labor costs...that's how much the UAW chiselled out of shareholders' hides annually before they went on to get the taxpayers to bailout their pensions.


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