Quote from nutmeg:
Let me ask you this.
If the Fed orders you to increase fuel economy of an auto at the expense of an increasing wage for your employee's, Either or, not both.
I wonder how Henry Ford's pay model would have survived in today's regulatory environment?
Now if we bitch about the union pay scale, who will buy the product?
Who can afford a new Ford P/U (mfg list maybe 40k) making 12- 15 dollars an hour?
And that's ultimately why we've had 60-72 month teaser rates and "subprime" auto loans for years now.