401k Maze » Big Three Bailout makes no cents http://401kmaze.com Helping you through the maze of investing! Fri, 18 Dec 2009 17:16:40 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 The big 3 bailout makes no cents, why not give each employee $40,000? http://401kmaze.com/the-big-3-bailout-makes-no-cents-why-not-give-each-employee-40000/ http://401kmaze.com/the-big-3-bailout-makes-no-cents-why-not-give-each-employee-40000/#comments Fri, 14 Nov 2008 17:47:23 +0000 Mark http://401kmaze.com/?p=166
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    • ]]>     In my previous article, I wrote why helping these failing companies is a recipe for disaster and how giving them money hurts everyone more than simply allowing them to fail. However, if the determination by congress is made to help the Big three auto companies with a bailout, for the sake of keeping the jobs, tell me why it wouldn’t make more sense to just give that money to the employees rather than the company?

    Let’s break this down: Between the big 3 automakers there are an estimated 628,699 employees working at these companies. The request is to give these guys 25 billion dollars (25,000,000,000) in aid. This equates to roughly $39,675 per employee, right at the average annual income for all Full time workers between the age of 25-64 in the US per the census bureau.

    With money to hold them over for at least year, they could surely find equal paying jobs in other, more efficient and effective industries.


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