Saturday, November 15, 2008

Mike Conaway, Twenty Five Years Short of a Century

Representative Mike Conaway, R-TX diagnosed Wall Street investment houses needed taxpayer bailout money. He voted for the $700 billion rescue, after initially voting against it. But he draws the line at helping America's flagging auto manufacturers.

Instead, he wants the free market to race to the lowest common denominator on worker pay and benefits. The problem with big auto in the professional accountant's mind? The Abilene Reporter News wrote:

U.S. Rep. Mike Conaway, R-Midland, said the consequences of the financial failure of the big three would be huge.

"But I'm not convinced that any further help by the federal government, or the federal taxpayers more importantly, will address the core issues those companies have," said Conaway, who represents the 11th Congressional District.

They have employment costs resulting from 100 years of union-driven pay, he said.

A century of union driven pay? Really, Mike should consider history, the written kind vs. a Republican "reality creating" version.

The first production line came from Henry Ford. It began in 1913. Ford voluntarily paid his workers twice the prevailing rate to stimulate demand for his product.

The first union for auto workers came in 1935.

Mike's about 25 years short of a century, but what's new for the CPA?

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