Friday, November 21, 2008

More on what bargaining power imbalace produces in the US labor market

More of what's wrong with the virtually unprotected by modern (sector-wide labor agreements) third, second and first world standards American labor market:

Last year Wall Street handed out $34 billion dollars* in bonuses to their (losing) gamblers: $180,000 apiece to 180,000 gamblers -- on top of their $120,000 average gambler salaries. This year it will go down to $26 billion**!

GM has what, 266,000*** hard working assembly line employees? Earning what? Big deal!

* http://money.cnn.com/2008/11/04/news/companies/wall_street_bonuses/index.htm

** http://www.bloggingstocks.com/tag/FinanancialCrisis/

*** http://www.hoovers.com/general-motors/--ID__10640--/free-co-factsheet.xhtml

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