He was the lead adviser for the Obama administration when the government bailed out auto companies in 2009. Now, he is weighing in on the union strikes against the big 3 American automakers.
host Ailsa Chang on Friday, Rattner shared how he thinks these organizing efforts might play out.Look, it's normal in negotiations for the party that's trying to get something to ask for more than they expect to get, or could possibly get. And it's equally normal for the other side of that bargain to start with relatively low proposals and work their way up. That's all totally normal.
But they've also asked, for example, to have the old style defined benefit pension plans — that I think very few employers offer to new workers anymore — restored. And so, if the Detroit companies have an excessively high burden of wage costs, or fringe benefit costs, then they can't compete. They lose car sales. Ultimately, the workers lose jobs and the jobs move to these other places.I think that gap is unconscionable and it exists, but these companies are not outliers. This is the trend that we see all across American business.
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