Tuesday, January 10, 2006
Our Newest Op Ed
- By Michael M. Bates
On this date in 1914, Henry Ford made history once again. The auto manufacturer established an unheard of $5.00 a day minimum wage in his factories.
Former Chrysler chairman Lee Iacocca, also known as I-ka-zizzle in a TV commercial in which he plays straight man to the redoubtable artiste Mr. Snoop Dogg, wrote in Time Magazine that Ford "shocked the world with what probably stands as his greatest contribution ever: the $5-a-day minimum-wage scheme. The average wage in the auto industry then was $2.34 for a 9-hr. shift. Ford not only doubled that, he also shaved an hour off the workday."
Whether that was Henry's greatest contribution is questionable. Less uncertain is what his primary motivation was in raising employee wages and reducing work hours. ....................
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