Biden accuses Big Three automakers of making 'record profits' that must be 'shared fairly' with UAW strikers

FOX Business ^ | September 15, 2023 | By Chris Pandolfo

[Oldeconomybuyer]

President Biden on Friday delivered brief remarks on the United Auto Workers strike that began Thursday night, accusing auto companies of refusing to share their profits with workers.

In a televised statement, Biden said the Big Three automakers were making "record profits" that "have not been shared fairly, in my view, with workers."

"No one wants a strike," Biden said. "But I respect workers' right to use their options under the collective bargaining system. Autoworkers sacrificed so much to keep the industry alive and strong, especially through the economic crisis and the pandemic. Workers deserve a fair share of the benefits they helped create for an enterprise."

The president spoke for fewer than five minutes and did not take questions from the press. He called for the strike to be resolved with "record contracts" for UAW workers to match "record corporate profits."

"The bottom line is that autoworkers helped create America's middle class. They deserve a contract that sustains them in the middle class," Biden said.

[Elsie]

...Biden said the Big Three automakers were making "record profits" that "have not been shared fairly, in my view, with workers."

Thereby pissing off the OWNERS of these auto companies:

the SHAREHOLDERS!!!

[Elsie]

... in my view...

Your classic Corvette has increased in value.

Sell it and SHARE the profits with the autounions.

[Elsie]

...it’s so you...

[21twelve]

“...where they basically hang out and read or sleep. He said one guy has done this for 8 years.”

Yes - I read about that years ago. I believe they were supposed to be “career learning centers”. A big lunch room or conference room where the autoworkers could learn knew trades.

Except they spent their time watching TV, playing cards, reading books, etc.

One car maker got tired of that, and while they offered on-line learning in other trades, along with trade books, etc. they did not allow the workers to bring in recreational items such as cards, novels, food, etc.

The workers were getting their usual salary the entire time.

Years ago the Boeing factories went on strike over health care. It was a huge thing. But the media never said specifically what it was. But that the workers should get good health care just like the owners, etc.

The main sticking point was they wanted to have the worker’s pay a $5 dollar (yes $5.00) co-pay instead of no co-pay for doctor visits. At the time I was paying (private insurance, work for myself) $25 a visit co-pay, and then get charged more later on depending on the services.

Now with the affordable health care act and state provided insurance I pay $50 copay!

[Svartalfiar]

Profits are for owners. Workers should get paid based on the value of what they do, not on some arbitrary whim.

Well, to be fair, the value of what they do IS the revenue/profit!

[Svartalfiar]

Workers on the line make as much as, if not more, than a degreed engineer.

One of my buddies from an old Guard unit worked at GM. Their old pay scale (maybe 10 years ago), he was making about $40 an hour base rate.

[Svartalfiar]

Don’t forget cops and firefighters game overtime in last few years before retirement to goose their retirement pay which is usually based on high 3-5yrs.

I've never understood that. What idiot in management first thought to base retirement pay on anything other than the base pay rate? And almost every company/gov does that too. OT should be a side benefit that has no bearing on your pension or such.

[Graybeard58]

For example, once all 2024 products go off warranty

~~~~~~~~~~~~~~~~~~~~

My 2017 Toyota Highlander has a bumper to bumper life time warranty. Not only for me but if I pass the car onto one of my children the warranty will remain in effect for that child too.

[Graybeard58]

2016 not 2017.

[Graybeard58]

2016 not 2017.

[OHPatriot]

That’s language in the contract. The union lawyers are pretty slick. Contract language is forever. At some point the union exploited this loophole. They will NEVER vote to give that perk up.

[luvie]

How very communistic of him.

[luvie]

[dfwgator]

A fair share is defined in the bargaining process, anyone outside of the two parties involved saying what’s a fair share is foolish.

As I always read in those airplane magazines, "You don't get what you deserve, you get what you negotiate."

[noiseman]

The employees already received their “fair share” when the company paid them the amount they agreed to in the previous contract. What these communists want (as they always do) is more than their fair share; they want to take what others have earned as well. None of their arguments hold water. Their role at the company is transactional; they agreed to sell a certain amount of their labor for a certain price. Once that transaction has occurred, both sides have fulfilled their obligations, period. Just because the executives at the company have a different agreement is no business of theirs. And if they think they are owed some portion of the profits of the company, then they need to risk their own capital by investing in the company, and fortunately for them there is a way to do that. We call it “buying stock” in the company.

I’m retired now, but when I was still working I had a conversation with an entitled millennial who I supervised. He was constantly whining about deserving more, using exactly the same logic as the UAW. When I calmly explained that his pay arrangement was purely transactional, and that the organization owed him nothing more, he would whine and complain, but I could tell that it sparked a realization of the truth in him, even though he didn’t want to admit it.

If you can get them to stop being driven by their emotions for a moment, and instead just think logically, they start to get it, even if they don’t want to. Just ask them things like, if they pay someone to repair their car then why shouldn’t that mechanic also be able to demand a share of their paycheck? Clearly, they depend upon their car to work, so without the mechanic’s labor they wouldn’t even be able to make a living, right? Turn their own illogic against them and they are left with no argument other than pure, childish, “because I want it.”

[sit-rep]

lol

[Elsie]

Well, to be fair, the value of what they do IS the revenue/profit!

How the pendulum swings!

The workers tend to think that THEY are the owners.

Why does this only seem to affect 'workers' at LARGE businesses?

If they tried this at a small one, they'd be out the door and replaced SO fast...

[Elsie]

Granpa; what did you do back in the 80’s?

Well, I was an air traffic controller for a while...

[Elsie]

GREED is an emotion?

[dinodino]

Well, plus, American cars mostly suck.