Sunday, June 24, 2007

This doesn't look good

(the big auto parts maker) is set to close or sell off all but 8 of it's 29 plants. We all knew this was coming earlier but it 's still not an easy pill to swallow. The thing that irritates me is the fact that hourly wage workers are having their wages cut by nearly $10 an hour while I'm sure the CEO's and the CFO's and the rest of management won't suffer one iota. The buy out that will cover 17000 workers doesn't look that great either. They'll get $105,000 over 3 years. I'm guessing that's a little over two years salary for how many years of work? The article doesn't mention if they can keep their medical.

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