Elephant in the room
My wife and I both find it oddly soothing to listen to the BBC World Service , but the Beeb blew it this morning with a discussion of the latest cutbacks at Ford . Asked why the cuts are coming now, the reporter opined Ford needed to get back to the basics, selling cars that people want to buy. Well, yes, that's certainly part of it, but there was no mention whatsoever of the health plan, the retirement plan, and the retirees' health plan — the "legacy costs." (What a delicious euphemism. Who came up with that?) The Beeb's international audience missed out on a vital and basic insight into why Detroit's having so much trouble these days.