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December 15, 2005
GM Flattens Workers
General Motors announced today that it was no longer going to contribute to worker 401K plans. This is another in a list of decisions by large corporations to withdraw benefits to their employees. Workers won benefits in many companies year's ago during a conttentious period with management. I know I have read accounts and watched movies, both fictional and documentaries, like North Country, of terrible work conditions, wages and living conditions. Workers earned a better life by fighting for what they believed they deserved, which was a share of the profits from their work.
The tide has turned. The economy, according to the Bush Administration is growing well, yet the desparity between rich and poor, or rich and middle class, is growing faster. Big business finds an administration that is clearly on its side. It is making more and more decisions which leave its employees struggling to meet their financial obligations. Power is now on their side and they are using it to gain more and more of what they want, money. They are scoring so much these days that workers are basically playing in another league, the minor leagues.
I have written about GM before. It has to be one of the worst run businesses in the country. I can only think of a couple of their cars which I would even consider buying. They fight innovation at almost every opportunity. They drag their feet on any safety regulations, eternally complaining about costs to consumers whenever they testify before Congress. They do the same thing about environmental regulations. Most of their designs stink too. And now they have financial problems. What a surprise. I can easily run that company better than those yo-yos.
Posted by Chip Spear at December 15, 2005 3:14 PM