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Devoish, you stated that GM workers make $26.00 an hour.  I am speaking about all the workers that UAW represents, and the hourly wage minus all the extra "stuff" you said shouldn't be included is about, according to the UAW's own 2007 numbers, 28.00.  "In 2006 a typical UAW-represented assembler at GM earned $27.81 per hour of straight-time labor."  Found @...

http://www.uaw.org/barg/07fact/fact02.php

I'm not entirely sure why you wouldn't include all the extra stuff in the pay that these emplyees get, as according to the company hiring them, it has to actually spend that much money per hour its workers are working.  I do believe that's a fair way to judge how much money a person gets paid, since, in theory, workers are supposed to have access, at least eventually, to all of their benefits.

Finally, if I were judging the strength of a company to invest in, I would want to know how it measures the impact of employee benefits into its eventual debt.

Renegotiating contracts allows not only the money paid to the employee each pay period to be renegotiated, but also the benefits, bonuses, and any extra "stuff."  I think the auto industry would be better off if forced to reevaluate its pay structure.

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