The bells and whistles in that other report are basically the legacy retirement costs and health care costs.
So again, what do you propose on legacy retirement costs? Should the retired workers be punished because they worked for an old company that actually has a lot of retired workers? What's your solution here? Screw the old retirees? They gave 30 years to the company and now they should just have their retirement stolen?
Health care? Again a huge part of their health care costs are the retired workers. It was promised to them, it was part of their compensation package for 30 years. What now? Just steal it from them? After telling them for 30 years it was part of the deal?
Among the changes would be greater use of on-site medical clinics and the introduction of on-site pharmacies to combat rising health care costs. Toyota’s language regarding North American health care inflation largely echoes that of Detroit's automakers.
Health care is an issue for Toyo as well and they are providing it apparently.
Oh, one last thing.......
In the follow-up memo, Toyota pointed out that workers at Georgetown and at New United Motor Manufacturing Inc. in Fremont, Calif., which Toyota owns with GM, are the highest-paid autoworkers in the United States.