This morning America will wake to the news that its own government will not save its domestic car industry. The decision by the Senate last night to veto the proposed short-term rescue package raises the very real possibility of both General Motors and Chrysler going out of business before the end of the year.
The Union of Auto Workers (UAW) effectively scuppered the rescue by refusing to accept a pay cut in 2009, which would put its 250,000 members on a par with equivalent workers in Japanese-owned car factories where unions play no part. This is not insultingly low pay, merely less than they currently earn.
Read Article