auto bailout negotiations fail in senate, page-72

Stupidity that the decision was down to wages. Don't they understand that these people will be out of a job, nevermind a wage cut? The difference in wages is $0.12 per hour!!! Republicans are clueless. We definitely haven't heard that last of this, something will be done over the next 3 days.

He and other Republicans said wages and benefits for employees of Detroit‘s Big Three should be renegotiated to bring them in line with those paid by Japanese carmakers Toyota, Honda and Nissan in the United States.

Hourly wages for UAW workers at GM factories are about equal to those paid by Toyota Motor Corp. at its older U.S. factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota says it pays about $30 per hour. But the unionized factories have far higher benefit costs.

GM says its total hourly labor costs are now $69, including wages, pensions and health care for active workers, plus the pension and health care costs of more than 432,000 retirees and spouses. Toyota says its total costs are around $48. The Japanese automaker has far fewer retirees and its pension and health care benefits are not as rich as those paid to UAW workers.