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Pay Cuts vs Bailouts (3/21/12)

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  1. dodge2:52
  2. GM0:29, 0:48, 1:53
  3. Fiat 5003:19
  4. Jessica Caldwell4:30
  5. Steven Rattner1:18
  6. tough guy3:15
  7. reduced compensation0:10
  8. Auto Workers Union1:37

Wed, 21 Mar 2012|

Canada urged to tie automaker aid to wage cuts, GM says consolidating global ad agencies will save billions, and automakers go on a man hunt.


Automatically Generated Transcript (may not be 100% accurate)

We are arguing that there's some room there there's -- there for auto workers -- to provide more of the incentives for investment. In the form of reduced compensation. Waging war. A new perspective on the big auto bailouts. Hello everyone I'm Tom -- back. The 2009 rescues of GM and Chrysler. Not only fell on the American people but also -- taxpayers of Canada and the Ontario province. At a new report examining Canada's role in the side. May raise eyebrows among that nation's auto workers. It's is helping out GM and Chrysler was a good idea but any continuing support for the industry. Must come with that condition. Wage cuts at the plants. We do things that workers in the automotive industry are earning a significant premium above the competitive level and therefore there is some scope but there for them to make some concessions. The report by the institute for research on public policy. Is reminiscent of this comment last December but former US cars are Steven Rattner. You could make an argument we should try to -- -- a bit more we should've maybe asked the creditors give a bit more we should have maybe. Ask the UAW to give a bit more we did not ask one active UAW member to take it cut their cash wages. According to Toronto's globe and mail newspaper the Canadian Auto Workers Union is under pressure from the Detroit three. To eliminate annual wage increases and replace them with pay based on company profits. And GM says it will save. -- billion dollars over five years but sharply consolidating. Its marketing and advertising agencies worldwide. An amount would represent an average 400 million dollars a year or 10% of GM's annual ad budget. Not all of the savings from the consolidation will float to the bottom line -- some what will be plowed back into the marketing budget we managed. You know ten brands globally as part of an effort spearheaded by a marketing chief Jolie -- GM has been planning to consolidate nearly all creative -- duties for Chevrolet. To just a few major agencies. GM now expected to announce its decision within days. Here's a question for you when you think about medley vehicle what comes to mind. A Ford F 150. A Chevy Corvette. Few years back dodge aired this mess. It I'll put my underwear in the basket. And because I do this. You can even buy dodges grand caravan RT. A K eight the man band its website shows some tough guy checking email. But what about smaller cars like the Fiat 500. The brand is employed supermodel. Even bad boy actor Charlie Sheen racing through -- -- a 500 -- -- -- -- I love being under house arrest. Following it for good thing here. Fiat also featuring a new spot with two dude who gets stuck minding your baby because it was girls' night out. It's a great savings. This -- deal. In February Fiat had its best sales month since its launch. We can take it a step further with the UW's redesigned two door -- Since its launch in September. Bloomberg reports 43%. Of US buyers have bad man up from 29%. A year earlier. The car redesigned with a more angular sporty look to attract men. An ad shows a guy driving a vehicle getting lots of high fives including one from an attractive woman. But crafting a car that appeals to everyone can be a challenge. Jessica Caldwell of Edmunds dot com telling Bloomberg quote. Girls don't mind driving mass killing cars I don't think it works the other way around. When the car is labeled a chicks are a lot of guys don't feel comfortable drive. So women men what do you think does it matter if you're right it's perceived as more feminine or masculine. Please email -- he wore back Crain dot com we'll share your responses. -- a future show. Thanks so much for watching everyone. We'll see you back here tomorrow.

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