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Jackson County, AL | As others have said, they paid off the first loan with money from a second loan, Chrysler even worse, Ford was essentially forced to take a loan which was better than the bailout. UAW and gov't put pressure on Ford to take the money or else, even though they felt they could make it with a plan of their own. In the end fighting the UAW and gov't in the economy they were facing was worse than the forced loan since they didn't have a chunk of stock handed to the UAW like the other two. Toyota is highly attractive due to the NON-UNION labor used to build them here. Engine assembly is less than an hour from here and their workers speak highly of their quality control (drop a bolt on the floor and it goes to scrap). I like the idea of putting union labor in a situation that would encourage them to take a different mode of action. In the early 2000s around $2500.00 of every vehicle GM built went to employee salary and benefits and it was nearly unsustainable then, much less now. | |
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No more GM or Chrysler for me...
