More UAW workers bankrupt - 09/18/05

Detroit News: Bankruptcies are up for auto workers.



The Detroit News paints an increase in bankruptcy as caused largely by decreasing overtime combined with a failure to cut lavish lifestyles. The analysis seems superficial though. The article states:

The Detroit News reviewed 88 Chapter 7 and Chapter 13 bankruptcy cases filed by UAW Legal Services in the past six months. Of those, 23 were active autoworkers who didn't appear to have catastrophic medical bills based on the creditors listed.


Ok, twenty-three of eighty-eight were active autoworkers without major medical creditors. What about the other sixty-five? An analysis of bankruptcy filings that draws conclusions based on a fourth of the sample is not really persuasive.

More UAW workers bankrupt - 09/18/05