GM cannot go on providing the level of benefits they have been, if they want to stay in the business. It's not a matter of providing fewer benefits to increase profits, it's a matter of choosing to pay benefits it can afford, or getting to a place where it cannot pay anything at all.
More Quotes from Peter Morici:
Earnings of hourly workers have been falling for the last three years. Especially for the bottom 50 percent of the population, things have not been very good. But for the top 25 percent, real incomes have been going up rapidly. It's been caviar for the rich and cake for the rest.Peter Morici
There's a myth out there that Americans can't get along without American-made cars.
Peter Morici
Business investment is increasingly the engine pulling the economy forward.
Peter Morici
Gasoline prices did rise in January. Spot prices for natural gas fell in December and January, but it is not clear how much of these markdowns filtered through to homeowners and commercial consumers.
Peter Morici
We don't give them any more market access. They won't have any more sales here, but we should have more sales there. But that deal by itself will not resolve this problem.
Peter Morici
The reality is across sectors and across regions the picture is very mixed. The auto sector is not only troubled, but becoming more troubled,
Peter Morici
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