Workers at auto parts maker Delphi Corp. will be asked this week to take a two-thirds pay cut. It’s one of the most drastic wage concessions ever sought from unionized employees.
Workers at General Motors Corp., meanwhile, tentatively agreed on
Monday to absorb billions of dollars in healthcare costs. Ford Motor
Co. and DaimlerChrysler employees are certain to face similar demands.
Are the managements of these companies also taking comparable pay and
benefits cuts? Well of course they aren’t. The elites continue to get
wealthy as the workers get shafted. The system of predatory capitalism
we live under insists that companies continually find cheaper ways of
doing things, paying as little as they can, which hurts everyone except
for the privileged few on top who continue to amass wealth.