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Arguably, without the 2008 concessions, they'd be out of a job entirely.
by sokoloff 3y ago
Arguably, without the 2008 concessions, they'd be out of a job entirely.
- thriftwy 3y agoOr maybe they would already be employed at a better place paying more and using their labor with greater leverage. I believe that workers and non-CS engineers are horribly underpaid around the world. They are underpaid in the US's Aerospace, they are underpaid in Russia's military industrial complex and they are also underpaid in China which actually supplies the stuff that everybody uses. Don't doubt they are also underpaid in Japan and Korea.
- jonathankoren 3y ago>Or maybe they would already be employed at a better place paying more and using their labor with greater leverage. I mean this in all seriousness. What in the past 50 years of deindustrialization makes you think that that as even a possibility? Sure, it’s the Econ 101 textbook answer. “Creative destruction” and all that jazz. But in reality, how has that actually played out?
- nerdponx 3y agoAll the more reason why they ought to get a little back at this point.
- TheCoelacanth 3y agoAnd the shareholders would be out of their investment.
- astrange 3y agoDidn't the shareholders lose everything when the government nationalized the car companies in 2008? That may just have been GM.
- sgerenser 3y agoShareholders at Chrysler at GM already were out their entire investment. “Old GM” went bankrupt, the current corporate entity known as GM only existed since 2009.
- ceejayoz 3y agoSame for the CEOs, though.