[VRM]

Wes,
Unfortunately the numbers are realistic.

GM and Toyota pay their current people about the same. GM tends to be a dollar or two per hour higher, but that margin does not account for the huge difference.

GM has 500,000 or so past employees that they cover some or all of their healthcare for. This adds a lot to the cost of making a vehicle, and is an expense that Toyota is not dealing with.
Toyota also has a LOT less plants and runs them over capacity (overtime for workers) as opposed to GM that runs at less than 100%. GM also has more than twice the manager level employees as Toyota.

GMs business model works great when you have no competition and have 40% market share like they did in the '40s.

Steve