about this blog
- Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.
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Tom Razzoog
You commented while appearing with David Asman that auto workers made six figure incomes per year. Where do you get your facts ? The hourly rate for a production worker is approx 28.00 dollars per hour , depending on job. That is far less than "six figures". If you would like I'll send you the hourly rates so you could get your facts right . Time to find a new channel to watch , one that can get the simple facts right .
R Holbrook
It is very easy to come after the workers (middle class Americans) when things aren't going right at the Big Three. There is never any mention of the other problems they face brought on by our own government and even foreign governments. Our own government gives unfair tax breaks and incentives to the foreign automakers. The Big three spend hundreds of millions of tax dollars on parts made in this country while any parts exported to this country by the foreign automakers escape this tax. Our government grants tax free zones to the foreign automakers around their plants saving them tens of millions of dollars. Japan subsidizes their automakers by making sure that the yen stays weak against the dollar, which allows them to sell their vehicles cheaper. Everyone involved in government knows this but is afraid to do anything about it for fear of starting a trade war with Japan, the Bush administration even admitted that this is true. Japan destroyed the American Steel Industry by dumping cheap steel in the USA below the price it cost them to produce it, because their country subsidized the steel producers for all of their losses. This is a clear violation of our trade laws with Japan. The Bush administration even warned the Japanese to stop doing this but never followed through with any action. Finally why don't you compare the Big Three's CEO's pay with their counterparts from Japan, you will find it is not just 25% higher but tens maybe hundreds of times higher. Then take a look at what kind of import tax you pay when the Big Three import a car to Japan, it often increases the car price by 30% to 40%. Any way it is always easier to blame the American middle class worker because they do make an easy target for people who don't want to really investigate the problem
Charles
Theres more to this....why do you think our big 3 pays more? UNION...I talked to a union worker about 10 years ago...right before GM workers went on strick...and I ask him, "Why are you going on strick this week?" his reply...we want more money...GM is a big company they have money, and my UNION boss said...they are making big proffits and not sharing with the workers..... Now...find someone who works with Toyota, Honday, or Nissan in the USA....ask them about the unions......
Scott Bourne
Statistics are like bikinis what they reveal is fascinating what they hide is vital. What that chart does not show is the foriegn three don't hire alot of middle management. Their managers are at a ratio of 1 manager per 50 people and the big three are almost at a 5 managers to 1 person. So do be honest in actual facts here the foriegn companies tend to pay their employess better and treat them well. Notice there is no huge call for UNIONS at them. I wonder why that is? Next time before you going posting propaganda of the big 3 you might want to do more checking. I bey if you did into the so called person that did the chart had his research paid for by the big 3.
santuria orsetti
I am refering to the workers and their hefty wages and benefits. The auto workers are the working counter part to those fat cat CEOs. If sacrifices are to be made by other groups of workers, why not the auto workers? We seem to speak of them as if they are making minimum wages when in fact they (or most) earn 6 digit wages. It follows, the bridge money the auto industry is requesting will be used to pay already INFLATED wage and benefits to auto workers. I do not want to have my taxes subsidise the auto worker when I must face sacrifices. Also, I have heard about the National Security argument for keeping the auto-makers afloat. Two questions I have: Other than remembering old documentaries of tanks moving off the assembly line during WW II, do the car makers produce military equipment NOW? Also, we are in two wars. Are we not supplying our military with equipment without restructuring the auto plants? Santuria