Strike??? Thoughts, insights, predictions.

[Blackcar]

Gen-Z are in the workforce now. Why do they even need to work at all to earn a salary? Companies should just pay them for being alive.

You know eighter we raised them, or our children did and spent time at dinner table with us.
If this statement is even true.

 

[MajorFatal]

Interesting. No strike expansion and this bit in Post.
"Fain said GM “has now agreed in writing to place their electric battery manufacturing under our national master agreement,” a step he called a major win. Fain said GM’s decision was prompted by the union’s threat to expand the strike to an additional GM factory in Arlington, Tex., that makes some of the company’s most popular and profitable SUVs, including the Chevy Tahoe and Suburban, and Cadillac Escalade"

 

[Polo08816]

Interesting. No strike expansion and this bit in Post.
"Fain said GM “has now agreed in writing to place their electric battery manufacturing under our national master agreement,” a step he called a major win. Fain said GM’s decision was prompted by the union’s threat to expand the strike to an additional GM factory in Arlington, Tex., that makes some of the company’s most popular and profitable SUVs, including the Chevy Tahoe and Suburban, and Cadillac Escalade"

It's been said... what if they will win the battle but lose the war when the Big 3 can no longer be competitive against import and Tesla's profit margins due to Big 3 labor costs.

 

[the 18th letter]

It's been said... what if they will win the battle but lose the war when the Big 3 can no longer be competitive against import and Tesla's profit margins due to Big 3 labor costs.

The Big 3 CEO salaries vs import CEO salaries also effect that profit margin.

 

[MajorFatal]

It's been said... what if they will win the battle but lose the war when the Big 3 can no longer be competitive against import and Tesla's profit margins due to Big 3 labor costs.

Yeah, Assembly line labor costs run about 8-10% of final finished cost. Record salaries to everyone else in Big3, 3+years of record profits kinda make that pearlclutching doom/gloom argument seem weak for THIS time/place.

 

[Shoester36]

It's been said... what if they will win the battle but lose the war when the Big 3 can no longer be competitive against import and Tesla's profit margins due to Big 3 labor costs.

That doesn't make any sense to me. GM had $21B in Gross Profit, and $9B in Net Income last year. There are ~46,000 UAW workers at GM making an average of $28/hr...40% increase is $40/hr, so an increase of $12/hr/worker. That for a full-time person at 2,080 hours that comes out to a total labor increase of $1.1B.

So you whack off a billion to pay labor more and they are still netting $8B. Those profits are insane.

GM doesn't need to pass that 'loss' of $1B on to the customer, they are still netting insane amounts of money.

 

[Steebu]

Um … that 1 billion in lost revenue lowers the stock price which in turn lowers the executives’ pay … how dare you suggest the hard working Mary Barra lower her salary from $29 million a year to $22 million. That’s a 25% pay cut you heartless monster.

 

[TollKeeper]

Um … that 1 billion in lost revenue lowers the stock price which in turn lowers the executives’ pay … how dare you suggest the hard working Mary Barra lower her salary from $29 million a year to $22 million. That’s a 25% pay cut you heartless monster.

This made me think of an episode from south park..

 

[gooffeyguy]

But think of how much more the union makes off the members when they make more!

 

[randeez]

But think of how much more the union makes off the members when they make more!

they gotta eat too

 

[DuraYuk]

That doesn't make any sense to me. GM had $21B in Gross Profit, and $9B in Net Income last year. There are ~46,000 UAW workers at GM making an average of $28/hr...40% increase is $40/hr, so an increase of $12/hr/worker. That for a full-time person at 2,080 hours that comes out to a total labor increase of $1.1B.

So you whack off a billion to pay labor more and they are still netting $8B. Those profits are insane.

GM doesn't need to pass that 'loss' of $1B on to the customer, they are still netting insane amounts of money.

Shhhhhh your making too much sense. This is the same argument for raising minimum wage. It won't have a negative affect on anyone since all these corps make billions in profit.

But we are trained to hate each other instead of corporations who run this place.

 

[mb1500]

Labor does not cost the employer 1:1 ratio with wages, but nice try. Even if they wanted to increase their unionized American labor cost by ~12% of their global net income (using your figure of 9B and 1.1B) they might not have enough left over for the failed EV push and other social justice projects.

If only they would pay their fair share and cows would stop farting I could go to sleep at night…

 

[Sparksalot]

If only they would pay their fair share and cows would stop farting I could go to sleep at night…

 

[gooffeyguy]

Ever since McDonald's raised their starting wage to $15, I pay a lot more for a happy meal, lol

 

[DuraYuk]

Ever since McDonald's raised their starting wage to $15, I pay a lot more for a happy meal, lol

I think a big Mac cost .45 cents when they first came out. Equivalent to 4.05 today. Really not too far off what an actual big Mac costs. https://www.cnbc.com/2023/03/20/mcdonalds-big-mac-prices-state-by-state.html

 

[Fless]

I think a big Mac cost .45 cents when they first came out.

Hard to believe they cost less than a penny. (".45 cents")

 

[89Suburban]

In the end it's all BULL_ShITE and doesn't matter.

 

[mrrairai]

Ever since McDonald's raised their starting wage to $15, I pay a lot more for a happy meal, lol

Prices increased even when minimum wage stayed stagnant for years. So this argument is invalid. Bottom line is that corporation raised prices and made more profits while still paying the workers less.

 

[Shoester36]

Labor does not cost the employer 1:1 ratio with wages, but nice try. Even if they wanted to increase their unionized American labor cost by ~12% of their global net income (using your figure of 9B and 1.1B) they might not have enough left over for the failed EV push and other social justice projects.

If only they would pay their fair share and cows would stop farting I could go to sleep at night…

You're right...at the large corporation that I work for it's essentially 2x the base salary for all of the taxes, fringes, burdens, general & administrative costs, etc. So double my number to $2B and they are down to $7B in net profit. How will the company ever survive and afford to innovate when they only net $7B in one year?

 

[DuraYuk]

You're right...at the large corporation that I work for it's essentially 2x the base salary for all of the taxes, fringes, burdens, general & administrative costs, etc. So double my number to $2B and they are down to $7B in net profit. How will the company ever survive and afford to innovate when they only net $7B in one year?

Yup. What's crazy is when you have a motivated and happy workforce it elevates everything else too for the better.