Professor Mark J. Perry's Blog for Economics and Finance
The NY Times has an article today about 81,000 of the highest-paid blue-collar workers in the world who took buyouts from GM, Ford and Chrysler, in the largest exodus of workers from a single American industry in decades.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
1 Comments:
Thanks for the link to the article. I can understand a lot of the messages the former workers are sending. I’m somewhat of a fanatic on the need for change, educational achievement, and preparing for an alternative career. Why would anyone want to count on one company or on government for their entire livelihood and future security? I think the article inspired me to work a lot harder on my LSAT preparation.
On another note, as a UAW leader on many teams, I see a lot of good things happening in the factories that are still operating. For example, in the past, management just worked all the skilled trades’ people on Saturday and Sunday--they found work to keep everyone busy, or just let them sit and wait for something to come up. Now, my planned maintenance teams have to cost-justify work and build a business case for every bit of overtime. We also, as stated in the article, send a lot of work out to save costs. So, we are getting better at the game; however, as we get better, our competition is, too. In the end, the customer wins—that’s the way it should be. As stated elsewhere in this blog, “Competition breeds competence!”
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