Management as a whole is usually way overpaid, unless smart management keeps a company profitable....but unions destroy the goose that is laying their golden egg(retirement, wages, health care, social security contributions, etc) Car cost inflation is not Fords fault this time. Unions gotta be smarter if they want to keep the goose healthy.
For once I would like to see a union come up with a plan that makes a company run more efficiently, and shares the profit with the whole company. Instead of their bare tooth reactionary stance.
As the number of retirees grows over time and the number of active workers declines due to attrition and automation, the retirees eventually outnumber the active workers. Once this happens, the union’s political agenda ends up being completely at odds with not only the business fortunes of the industry, but with the personal interests of the working members as well.
The UAW leadership would be perfectly fine with a scenario where Ford doesn’t employ a single UAW member but is forced to make generous contributions to the UAW pension system.
> Management as a whole is usually way overpaid… <
Yep. In the old days a CEO made something like 40 times the salary of the average worker at his company. In 2022, Ford CEO Farley made $22,000,000. Using the 40 rule, each Ford employee should be making $550,000.
So either the Ford workers are greatly underpaid or the CEO is greatly overpaid. It’s the latter, of course.
Some argue that’s it’s just freedom in action. Ford can pay the CEO whatever they want. Well, sure. Then the union can ask for whatever it want.
Out of control greed is a terrible thing. Both the executives and the unions are infected by it, perhaps fatally.