Wanna know why Ford and GM lost billions this quarter while Toyota posted a tiny profit? University of Michigan at Flint professor of economics Dr. Mark Perry provides this graphic:
Also of note, according to the Department of Labor, the hourly compensation costs for all employees in manufacturing is $29.60. It’s a wonder Detroit has lasted this long.
Mind the Gap
Posted in Enterprise and Free Markets
[slideshow_deploy]
2 Responses to Mind the Gap
Leave a Reply
Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.
Pingback: A Picture is Worth Twenty Five Billion Dollars | The Sundries Shack
When you look at this it is no wonder the big 3 are in trouble. There again the uaw has priced itself out of a job. It is time the union went by the wayside.The auto workers need to start building a quality product at an affordable price and America will buy it. How many employees come to work and are under the influence of something and then try to build a vehicle??????The union protects them so they can not be fired.