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And they spend a few BILLION each year on retirement benefits too.
It's the reason that cars now cost as much as houses. When I was a kid, a brand new car was $1500 to $5000 (I'm talking chevy's and ford's...not Rolls Royces)
But the unsustainable union contracts these car companies have signed over the years has raised the price of vehicles so high that the average person HAS to finance a vehicle because only the top incomes in the country can really afford to just walk in and pay cash.
But boy..when you do pay cash it is SO sweet! During the 2000's I financed my Prowler, corvette, 2 harley trucks, and a Hummer. And of course it was stacks and stacks of paperwork and the tense negotiations in the Finance office a the dealership.
But I bought my 4 door Jeep Wrangler with cash. I practically named my price, wrote them a check and drove off. Now THAT was cool. I even have video screens, custom wheels, custom sound, etc. But the average person can't just write a $27,000 check
It's just insane.
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