Those “20%” raises are spread over 4 years which averages to ~5%/year, barely keeping ahead of inflation. The media throwing that out without quantifying it is a blatant attempt by the corporate press to breed animosity towards the unions and paint them as greedy.
And to help keep GM from going bankrupt they took concessions a decade ago or whatever that they never got back. Now they want back what they had and some more to account for the ridiculous inflation and corporate greed we’ve seen since then across all of corporate America. I don’t see why that’s so unreasonable.
Just wait until “the strike is hurting the holy economy” narrative gets going.
Just wait until Congress passes a bipartisan law to make it illegal for them to strike.
Yup. All Republicans and exactly enough Democrats. And complicit anti-union centrists will be like “don’t blame Manchin! Look at all the other people we agree with who he voted with!”
Surprised it already hasn’t tbh.
FTA:
If the strikes drag on, shortages could push vehicle prices higher and strain an economy already bruised by inflation.
Cue the “but I was thinking about maybe potentially kind of buying a new car next year, and this will either make it more expensive or force me to wait” BS
Note: I’m not referring to underprivileged folks whose current vehicle craps out/is stolen and they’re in desperate need of a new method of transportation. I’m talking about folks who are either in no danger of losing their only vehicle &/or can easily obtain a new one and are whining about nothing more than minor inconvenience.
And let’s not forget how embarrassing the state of public transportation is in the US. We basically pretend it doesn’t exist and is impossible to achieve, thus forcing those who live here to have access to some sort of private automobile.
“The automakers, however, say they’re facing unprecedented demands on capital as they develop and build new electric vehicles while at the same time making gas-powered cars, SUVs and trucks to pay the bills.“
GM’s full-year 2022 revenue was $156.7 billion.
Keep clutching your pearls, automakers. You disingenuous fucks.
and the government keeps giving them plenty of handouts to make the transition “easier”. fucking insane.
General Motors Co. booked $9.9 billion in net income last year, down from 2021’s $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.
GM’s comparatively strong financial performance enabled the Detroit automaker to deliver profit-sharing bonuses of $12,750 to approximately 42,300 hourly employees (total number of employees in 2022 was 167,000) - GM’s highest such profit-sharing payout. The bonuses total $500 million for the year, the company said.
https://investor.gm.com/news-releases/news-release-details/gm-reports-third-quarter-2022-results
How well do you sleep well at night after shilling for large corporations online?
“GM’s full-year 2022 revenue was $156.7 billion, net income attributable to stockholders was $9.9 billion and EBIT-adjusted was a record $14.5 billion. Results were at the high-end of the company’s revised EBIT-adjusted guidance range.”
I’m sorry, what the fuck are you talking about?
Is raw earnings data too biased for you? What point do you think im trying to make?
Remember everyone: Unions and strikes are cool, don’t let anyone tell you otherwise.
Starting in 2007, workers gave up cost-of-living raises and defined benefit pensions for new hires. Wage tiers were created as the UAW tried to help the companies avoid financial trouble ahead of and during the Great Recession. Even so, only Ford avoided government-funded bankruptcy protection.
Many say it’s time to get the concessions back because the companies are making huge profits and CEOs are raking in millions.
That’s the problem with agreements like this - workers concede because it’s an emergency type of situation, but when things get back to normal it’s never revisited. As a result, the workers have suffered the repercussions of their “emergency time concessions” for 16 years while the companies reap the benefits of their employees’ sacrifice.
This has to be successful…I feel like it will set a precedent going forward regardless of the outcome. Let’s hope it’s positive. Solidarity!
The automakers made around 5 BILLION USD in stock buybacks this last year alone.
