Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
GM got 47 billion dollars via the stock swap and never repaid it.
So a 100 day strike should roughly cover that.
Looks like meat involuntary profit sharing is back on the menu, boys!
These companies have been doing so good lately with everyone only wanting trucks and SUV’s as there is insane markup on those types of vehicles. The companies can afford to pass along some of those profits to their workers.
Trucks and SUVs are popular. But people do want economy cars-- they've just stopped selling them. These larger vehicles classify as light trucks and don't have the same fuel economy and emissions regulations as reasonably-sized cars. It's a big scam.
People don’t want domestic economy cars. People who like domestic brands want trucks and SUV’s. People who want economy cars will pretty much only look at Honda/Toyota and both those manufacturers still make economy vehicles.
I have never once seen someone online recommend a ford focus or Chevy cruze to anyone. It’s always a carolla/Camry or civic/accord.
I really thought as a kid that a good quarter for a company meant a good quarter for its employees.
The Big Three have profit sharing. From 2022 profits, GM employees received $12,750. Ford employees get $1,000 per $1 billion in North American pretax profit. Stellantis employees got $14,760.
This is part of the ploy to continue that: get the employees to get pay from the union to carry signs for a few weeks. In the mean time they can sell what inventory they have at full price instead of discounts, and when inventory gets low enough they settle the contract and make more cars. there is probably some at GM who is looking at inventory levels (all those cars made in 2021 that didn't get chips), and will make an unreasonable demand if it looks like the contract is close to being settled.
This is why Just in Time is good: it forces companies to treat their people well so they are able to work when there is need.
Seems like it they're that valuable, they deserve a raise and better benefits.
Why is it always framed as the employees costing money? Employers that come to agreeable terms don't cost the economy money.
Seriously, I'm a Capitalist (and a Classical Liberal) but why do these articles always talk about how much a labor action is going to cost a company but they never talk about how much the ongoing actions of the company have cost labor?
Because then anyone who criticizes how workers get hosed can be met with "YOU JUST WANT TO COLLAPSE THE HOLY ECONOMY!!!!"
That would defeat the purpose of stoking fear.
Corporate greed could cost them $5 billion in just 10 days.
If they collaborated with the auto workers, there wouldn't be an issue.
As a car salesman, this will cost me some money. As a guy who believes everyone should be in a union and have a goodpaying job, go get it boys. Shut it down for as long as it takes.
I hope basically everyone goes on strike. The workers don't even need to have any grievances, I just think it would be cool.
Alright, let's do this.
Could cost a lot less if companies weren't shitheads, just saying.
I sure hope it does
Good
Too bad so sad
It's OK, we'll all pay for it somehow.
Good! Solidarity with workers!
The union backed Biden against then-President Trump in 2020, but it announced in May it would withhold its endorsement.
(That quote is from another story, because the CNBC site was being weird. https://thehill.com/business/4152444-5-things-to-know-about-a-possible-uaw-strike/)
I’m on the side of the workers, of course, but this pisses me off.
Guess you should treat your workers better then.