re: Buying a new car need the OT'S advice

quote:

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Thousands of laid-off auto workers get paid $31 an hour to sit around and do nothing all year under a controversial program that could continue even if American taxpayers bail out the American auto industry.

The program, called "Jobs Banks," has been around for 24 years.

thanks to a deal struck in 1984 between the United Auto Workers and the Big Three carmakers.

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quote:

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https://www.autonews.com/article/20140127/OEM/301279990/the-end-of-the-jobs-bank-a-symbol-of-excess
The end of the Jobs Bank, a symbol of excess
January 27, 2014

The UAW agreed to end the Jobs Bank five years ago this month to help General Motors and Chrysler meet the terms of the initial government loans they received before filing for bankruptcy protection.

At its peak around 2006, some 15,000 workers were in the Jobs Bank, costing GM, Ford and Chrysler billions of dollars.

The Jobs Bank allowed workers to receive 95 percent of their pay while on layoff.

The Jobs Bank actually was an idea proposed by GM to the UAW during contract talks.

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