| I was reading the other day someone who claimed to have "insider knowledge" assert that a forklift operator in a GM plant earns upwards of $110,000 a year. Yeah, I know, it's ridiculous. Meanwhile, members of the credentialed media have scaled that back somewhat ... to $70,000. The problem? GM, which negotiated the four-year deal that serves as a template for UAW deals with Chrysler and Ford, says its total hourly labor costs dropped 6 percent this year from pre-contract levels, from $73.26 in 2006 to around $69 per hour. The new cost includes laborers' wages of $29.78 per hour, plus benefits, pensions and the cost of providing health care to more than 432,000 GM retirees, GM spokesman Tony Sapienza said.
This is the legacy cost stuff we keep hearing about, and not about someone getting paid $70 an hour. You'll notice that buried in the paragraph is the real wage -- about $30 an hour. When you add in benefits, it still comes nowhere close to $70 an hour. |