re: UAW demands are INSANE! Automakers need to faze out the human labor component.

quote:

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defined-benefit pensions for all workers instead of 401(k) accounts, and company-financed health care in retirement.

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This part in particular is extra stupid. We have seen so many defined benefit pension plans go belly up and these people are demanding to switch over to one.

The plans can't meet their promised obligations, so they turn to the Pension Benefit Guaranty Corporation, who very clearly states that they will not cover the full pension benefit amount, but a percentage of it instead.

And if the PBGC is struggling to pay it's portion of a union worker's private pension? Never fear, the American taxpayer will be on the hook to bail them out!

American Rescue Plan Act Gave $91B to PBGC to Prop Up Private Pensions

F off UAW. You can keep your 401(k) because the American taxpayer is not interested in funding golden public OR private pensions that the majority of US workers do not enjoy.