Skip to comments.UAW justifies wage demands by pointing to CEO pay raises. So how high were they?
Posted on 09/18/2023 5:24:36 PM PDT by ChicagoConservative27
NEW YORK -- It’s been a central argument for the United Auto Workers union: If Detroit's three automakers raised CEO pay by 40% over the past four years, workers should get similar raises.
UAW President Shawn Fain has repeatedly cited the figure, contrasting it with the 6% pay raises autoworkers have received since their last contract in 2019. He opened negotiations with a demand for a similar 40% wage increase over four years, along with the return of pensions and cost of living increases. The UAW has since lowered its demand to a 36% wage increase but the two sides remain far apart in contract talks, triggering a strike.
(Excerpt) Read more at abcnews.go.com ...
One cannot expect the average worker to be reasonable while all the top executives behave like greedy, out-of-control bastards.
Greed (by the worker or by the executive) is a major factor in the destruction of American industry. A pox on both their houses.
CEO salary is a dropping the bucket.“
It is but that is not how they look at it. I have been around these guys a number of times. They think if the CEO gets a big raise they are owed one. Not they should get one they OWED one and they will bleed a company and not give it a second thought.
Thou shall not covet. Exodus 20:17.
The CEO lives, sleeps, eats, drinks the business. They work a minimum of 10 hour days.
They rarely are really off when on vacation.
They can be called to testify before Congress, brought up on possible charges, etc.
They have to be able to absorb and comprehend vast amounts of information and know the right decisions to make.
If they make the wrong call the business may go under.
If a line worker installs a part wrong that can be fixed rather quickly.
That being said, I normally don't begrudge CEOs what they make. But sometimes their salaries/bonuses are a bit out of line when the company losses money.
One year we were told the raise budget wasn't much...around 1%. The boss got a 20% bonus/raise. Didn't go over well.
There is zero relationship between CEO compensation and a hourly wage. None. This is simply fodder.
That’s correct. But whoever gave their CEO’s that big of raises, are mentally incompetent. Over these last years!? Cra-cra!
Pretty poor contract if they’ve only got a 6% raise since 2019 as well.
What’s their leverage?
There are other car manufacturers to pick from so….Many people do not even notice there’s a strike on in Hollywood.
I hate unions for so many reasons but that does not mean just like a broken clock that they can not be right from time to time.
This is the USA, the land where it’s not a crime to make a butt load of money especially if it’s made honestly. If the rank and file don’t like their hourly wage, their benefits, they should elect better union leadership, but don’t try to vilify the CEOs, the owners, or perhaps their services would be better used in the food service or housekeeping industries.
It would be fun if the companies started dropping the salaries and bonuses of the uaw union leaders.
Seems like the best solution would be for the CEO to take a substantial pay cut.
I don’t know the details, but it seems unlikely the companies could afford to pay the workers 40% more. It seems like that would raise the price of the cars way beyond what very many people would pay.
$10 million of CEO money divided by 150,000 UAW workers === $66.66 a YEAR for each UAW worker.
MATH IS HARD-—I KNOW
Not even beer $$$ for Saturday watching football
They have no clue that they really don’t have leverage. Another one was Hostess they had to go bankrupt escape the unsustainable union work rules.
I worked at American Motors in 59’60 years.
Ex husband worked there, also.
BIG joke was to leave a glass Coca cola bottle INSIDE the driver’s door.
Would rattle-—then NOT.
Those morons thought it was a big joke.
Didn’t impress me one little bit.
Granted, the CEO takes all the heat, is responsible for decisions that can make or break the company and is on call 24/7 and all the etceteras.
But the are not worth 20+ million per year. No one is. They’ve crossed the line into elite-hood. Recently here on FR was thread about the Ford CEO being a wokester over this EV crapola.
And I’m not in love with the unions either. It’s all a part of the system that’s about to make America collapse big time.
It’s all a matter of supply and demand. The pool of available workers for assembly line jobs is far bigger than the talent pool for Fortune 500 CEOs.
GET A BETTER EDUCATION RATHER THAN PUTTING NUTS ON BOLTS OVER & OVER AGAIN.
IT takes some planning-—IT takes sacrifice, but it can be worth it.
I went back to NIGHT school 12 years after graduating high school. Took Accounting classes—2 nights/ 5 hours of class a week. Ratio of 5 hours of homework for every class hour==25 hours of homework minimum. It took me 4 years to take every accounting class they had, and I still was working full time & overtime. MY boss shoved me into school, so he only scheduled my overtime on the nights when I DID NOT have class.
I didn’t have a social life for that time period-—but I got 4.0 in all my classes. In high school, we were graded on the 100 scale. The accounting classes were graded on “THE CURVE”, I had NEVER even heard of such.
Another student & myself got consistent 99-98 scores. WE WERE THE CURVE. Other students didn’t like us much-—but so what-—I was there to have better education & to make more money and to have valuable skills.
4 years after my last class, I became SELF-EMPLOYED doing bookkeeping for small businesses-—and stayed self employed until my last client retired in 2022. I did HIS books for 53 years.
I OWN ALL MY PROPERTY—VEHICLES—HORSES—PERSONAL ITEMS.
Net worth over $400,000—no mortgage or car payments.
Too many people can gripe about someone else making MORE money-—but MORE EDUCATION==MORE WORTH TO AN EMPLOYER== MORE MONEY. NO UNION DUES, either.
These CEOs are not entrepreneurs. Even if they suck, boards will retire them with big golden parachutes tied to NDAs and noncompete agreements.
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