Middle-class elimination marches on.
"The average hourly wage at Visteon's plants will drop from $38 to $17, Johnston said, and the number of UAW-covered hourly employees will drop from 17,400 to 5,000 at the remaining 36 Visteon manufacturing plants."
The immediate argument Repugnicans give to an article like this is: (a) they're just parts monkeys, they don't deserve $38/hour; and (b) obviously the company is failing, sacrifices have to be made.
Of course, who deserves what pay is only acceptable debate when it concerns the middle class. CEO pay is off-limits. Managerial pay is never described as hurting the business, only the grunts on the line producing products to sell "hurt" the business.
And whad'd'ya know:
Ailing Visteon gives new president a $3 million bonus - 5/24/05
"Struggling auto parts maker Visteon Corp., in an unusual move, will pay its new president and chief operating officer Donald Stebbins a $3 million signing bonus if he stays with the company for three years.
Stebbins also will receive an $850,000 annual salary.
...
'You have to pay market price for senior executives,' said David Cole, head of the Center for Automotive Research in Ann Arbor. Stebbins, 47, was lured from rival Lear Corp."
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