That is $769K and change for each job. Or enought for each "worker" to buy a 100k house and get 50K a year for 13 years or their $13/hr for 24 years. Hell, I'll take that.
There are a lot to variables in play, but I'll hold the applause until after a couple of years running. Even if, the place might still go under. Didn't hear a lot of chatter about customers in the article. Material peice of a business plan is that if customers don't buy you go broke. Maybe this is part of GE's discussion but much like with the Volt, I'm not hearing it.
FYI $13.00hr is just over 1/2 the average wage in the US. After income taxes SSI, sales tax, yatty yatty, you are talking poverty level for just one person working with a family of 4. A single person could finance a car on it though.
While a firm capitalist, I am convinced that there is probably some level of government interaction that is good. But do the math on this one and it has "insane" written all over it. A billion dollars to create poverty level jobs? Really?
So if all goes well, and you work all your life at one of those jobs, you can expect to die poor. Wage cropping action. And yet, it is better than millions of Americans are doing right now.
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