The unions make all the difference in U.S. auto industry

While Detroit is treading water to save its future, there’s an importance piece to its ability to float: the unions. Auto workers, the backbone of the industry, are trying to walk the line between earning a living wage and earning a wage at all. They are in the tough position of having to negotiate with the automakers about salaries, benefits, and pensions against the backdrop of a flailing indusry. With the bailout deadline of March 31st looming, we turn to Peter Morici, professor at the University of Maryland School of Business and former chief economist at the U.S. International Trade Commission, joins us to discuss wages at U.S. car companies versus their counterparts at Japanese car factories here in America.