If they hadn't gotten such good retirement benefits, they would have gotten even more money up front.
Before the Japanese arrived on the scene, these contracts made perfect sense from the management's point of view, because American car companies were making money hand over fist. When competition from Japan became serious, such contracts still made sense, because they would rather pay later than pay now. And, well, "later" has arrived.
Before the Japanese arrived on the scene, these contracts made perfect sense from the management's point of view, because American car companies were making money hand over fist. When competition from Japan became serious, such contracts still made sense, because they would rather pay later than pay now. And, well, "later" has arrived.