I think that is true. Take a look at what happened to General Motors just the other day. Market forces are affecting the wages and working conditions of many employees across the country. As there's more and more unemployment, there's going to be a lot more pressure on a downward level of compensation. And it should be fairly applied on the way down, just as it should be fairly applied on the way up.
On May 28th, 2009. See this statement in context.