So the UAW decided to let go of retiree health care. Wallstreet is gleeful (according to bloomberg tv this morning in the gym) because “american companies can’t afford to be in the health care business”.

I agree with them. The one thing they didn’t mention is that the reason asian and german car manufacturers can out-compete us companies is because their governments provide pensions and healthcare, not because the workers don’t have it.

If you don’t know much about workers in international shipping, here is a story that is a good start. It turns out that shipping and cruise companies around the world have figured out they don’t have to obey labor laws if they register their ships in countries that might not really have laws, per se. Liberia is a popular choice. The Bahamas also has “favorable” labor laws. More here.