DonR101395
... but in their defense they did offer to hire any current employee who was willing to move to Mexico $4 an hour to do the same job they were currently doing.
Also, in their defense, at today's rate 4 US Dollars = 43.73264 Mexican Pesos per hour which is a pretty good wage there.
People forget the exchange rates when they equate the dollar to other countries which use the real, or peso, or pound, etc. The purchasing power of 43 pesos will get you more in Mexico than 4 dollars will buy you here. As an example:
A dozen tortillas at Safeway is about $1.35. In Mexico, that same dozen tortillas is about 2 pesos.
1.35 US Dollar = 14.75977 Mexican Peso
2 Mexican Peso = 0.18301 US Dollar
SOURCE
One can retire quite comfortably in Mexico on nothing but their Social Security payments.
Yours is a common story of the unbending ways of the unions. Remember when Chrysler Corp was facing bankruptcy and asked for a government bailout (which they repaid 7 years early; but no one remembers that fact)? The unions told Chrysler that if they did not get the increase they were demanding they would go on strike. Chrysler had sought for the unions to take a pay cut for a specified time to allow Chrysler to recover.
Lee Iacocca told the unions "If the workers go on strike we will lock the gates behind them and file Chapter 7 bankruptcy and that will spell the end of the Chrysler Corporation." The unions said "Lee, baby, we were only spoofin'." and they took the pay cut.
Iacocca, in a brilliant move, reintroduced the convertible automobile -- for which the buying public was starving -- and the rest, as they say, is history. Later CEOs made several wrong decisions in the purchase of other faltering auto companies thereby taking on their burden as well and Chrysler is, this day, in deep financial trouble.
