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Will Lee Iacocca Be Invited to the Next Chrysler Pot-Smoking Party?

By: Todd M. Schoenberger

What ever happened to investigative journalism?  Rarely is it that our local news stations offer a dirt-diggin’ story that results in life changing events for those involved, and maybe even for those watching.  Now it seems all we hear about is the routine traffic accident or vacant warehouse fire; which is only entertaining when video is involved.

So when you hear about a top-notch breakthrough story like the one from WJBK Fox 2 in Detroit, you simply smile and remind yourself that journalism isn’t quite dead yet (even though the likes of Sean Hannity and Glenn Beck would have you thinking otherwise).

If you’re a loyal viewer of non-Fox/News Corp networks, then you probably haven’t heard about the Studio 54 Chrysler Party.  ABC, NBC, CBS and CNN have chosen to ignore it, probably for reasons to do with competitiveness rather than withholding information.  Nevertheless, subscribers to this newsletter have routinely informed me they depend on this column for topics that are absent from the evening news; and I so hate to disappoint.

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The story out of Detroit is about a group of unionized workers from a Chrysler plant partying like its 1999.  Only, this crew is stuck in a shift, making Grand Cherokees and its not even 11 in the morning.  The group is videotaped—over a ten day period—drinking tall-boy cans of beer, booze and smoking a few doobies along the way.

If you didn’t know these clowns were responsible for building cars and surviving on taxpayer-funded bailout money, you would probably laugh.  I suppose the stress of making $52-bucks an hour and having “Cadillac”-health insurance coverage is enough to push anyone to the bottle.  Or, maybe the group is just stressed knowing their beloved Lions are facing another winless year.

But before you get all crazed and say these men can do whatever they want on their break, let me just remind you that the Chrysler Employee Manual specifically says its workers cannot be inebriated while on the job.  That kind of throws a wrench into their defense.

This is what should make everyone mad, though: The workers involved were suspended, without pay, but not terminated.  Their union, the UAW, simply told them to go home for the timebeing.  Can you possibly fathom what would happen if the same group worked for a non-union private sector company?  Think they would only be suspended?

It’s clear as day the two best places to be employed—right now—is with unionized companies and the federal government.  With President Obama loving the unions more than a Five Guys cheeseburger, you will 1) make way more money than a non-union private sector employee; 2) have the best health coverage money can buy (Chrysler’s plan costs $20,000, non-union private sector coverage averages $8,000); 3) be permanently employed with no repercussions for misgivings or stupid choices; and 4) never have to worry about performance, productivity, or results.

Accountability is not even close to entering the vernacular of the common union member employed in this country.  Think Chrysler isn’t a target right now?  Every ambulance chaser in the land probably has a list of Chrysler owners; just waiting for something to go wrong.  And, who’s going to bail them out then?  That’s right—the guy who didn’t receive an invitation to the party.

PROGRAMMING NOTE:

Todd M. Schoenberger will be appearing live for a special one-hour program with Cheryl Casone on the Fox Business Network this Wednesday, September 29th, from 12:00 to 1:00pm, ET.  We’ll be discussing a wide-range of topics about personal finance, taxes, the midterm elections and sports.  Be sure to tune-in!

, San Antonio City Buzz Examiner

Todd M. Schoenberger is a seasoned financial professional with nearly eighteen years of experience consisting of career stops with Merrill Lynch, Legg Mason Wood Walker, T. Rowe Price and USAA Investment Management Co. He is now a Managing Director with LandColt Trading, LLC and a frequent...

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