[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Male Passenger Disappointed After Another Flight Ends Without A Stewardess Frantically Asking If Anyone Can Land The Plane

Could the Rapid Growth of AI Boost Gold Demand?

LOOK AT MY ASS!

Elon Musk Responds As British Government "Summons" Him To 'Disinformation' Hearing

MSNBC Contributor Panics Over Trump Nominating Bondi For AG: Dangerous Because Shes Competent

House passes dangerous bill that targets nonprofits, pro-Palestine groups

Navy Will Sideline 17 Support Vessels to Ease Strain on Civilian Mariners

Israel carries out field executions, massacres in north Gaza

AOC votes to back Israel Lobby's bogus anti-Semitism definition

Biden to launch ICE mobile app, further disrupting Trump's mass deportation plan: Report

Panic at Mar-a-Lago: How the Fake Press Pool Fueled Global Fear Until X Set the Record Straight

Donald Trumps Nominee for the FCC Will Remove DEI as a Priority of the Agency

Stealing JFK's Body

Trump plans to revive Keystone XL pipeline to solidify U.S. energy independence

ASHEVILLE UPDATE: Bodies Being Stacked in Warehouses & Children Being Taken Away

American news is mostly written by Israeli lobbyists pushing Zionist agenda

Biden's Missile Crisis

British Operation Kiss kill Instantly Skripals Has Failed to Kill But Succeeded at Covering Up, Almost

NASA chooses SpaceX and Blue Origin to deliver rover, astronaut base to the moon

The Female Fantasy Exposed: Why Women Love Toxic Love Stories

United States will NOT comply with the ICC arrest warrant for Prime Minister Netanyahu:

Mississippi’s GDP Beats France: A Shocking Look at Economic Policy Failures (Per Capita)

White House Refuses to Recognize US Responsibility for Escalation of Conflict in Ukraine

MAKE EDUCATION GREAT AGAIN!!

They will burn it with a "Peresvet" or shoot it down with a "hypersound"

NY Times: Could Trumps Return Pose a Threat to Climate and Weather Data?

Apples new AI-powered Siri?

Pepe Escobar: The BRICS Spirit Is Alive And Well In South Africa

Trump Can Stop WW III By Helping Kamala Make History

About that ICBM Russia just launched on Dnipro


ObamaNation
See other ObamaNation Articles

Title: UAW Demands "Largest Pay Hike In Recent Memory" From Big Three Over 'Bidenflation'
Source: zerohedge
URL Source: https://www.zerohedge.com/political ... ry-big-three-over-bidenflation
Published: Aug 4, 2023
Author: Tyler Durden
Post Date: 2023-08-04 13:23:14 by Esso
Keywords: None
Views: 215
Comments: 1

Expectations for the United Auto Workers and Detroit's Big Three automakers to finalize a new labor contract before the current labor pact expires in mid-September soured on Thursday evening when the union demanded 40% pay hikes for its workers over four years.

Bloomberg reported that the new demands are part of UAW's opening proposals in contract talks with General Motors Co., Ford Motor Co., and Stellantis NV. The union's current labor agreement with the automakers expires on Sept. 14.

[Tweet]

The Detroit-based union has 150,000 workers producing Chevrolets, Fords, and Jeeps, called for an automatic 20% general wage increase upon ratification of a new contract "to offset the severe impact of inflation" over the last two years of negative real wage growth, according to a write-up obtained by The Detroit News.

The Detroit News described the new proposal as "the largest pay increase in recent memory."

Following this, the union asked for 5% wage increases every year for the duration of the agreement, which extends through 2027. This would mean the top wage for workers would be around $47 per hour, nearing the $49 mark recently achieved in a tentative agreement by the International Brotherhood of Teamsters with United Parcel Service Inc.

On Tuesday, UAW President Shawn Fain revealed an overview of the "members' demands" that called for "double-digit" wage increases. He also suggested the union would secure a 32-hour work week.

"Big Three CEOs saw their pay spike 40% on average over the last four years.

"We know our members are worth the same and more," Fain said on Tuesday during a Facebook live stream event.

Then on Thursday, in response to Fain's comments, GM said the company expects to increase wages but said the union was asking too much.

"The breadth and scope of the presidential demands, at face value, would threaten our ability to do what's right for the long-term benefit of the team," the company said in the statement.

Marick Masters, a business professor at Wayne State University, called the new proposal "audacious" but "probably out of line with what the conventional expectations were."

"The UAW has embarked on an ambitious campaign to reclaim what they believe is lost ground and to reinstate prior economic conditions that were considered during the Great Recession and bankruptcy era.

"And this is a part of their new bargain, new philosophy toward a just and fair transition to electrification, and that requires higher wages, more job security and the reinstatement of certain benefits that were made in the past.

"This is a new reality, and the question is whether in this new reality they can find a path for a bold agenda of the UAW that enables the companies to remain competitive. That is an extremely difficult task."

Meanwhile, Ford, GM, and Stellantis have plowed billions of dollars into electric-vehicle plants and battery-making facilities. Ford recently announced that its EV venture would lose more than a billion dollars amid price wars with Tesla this year.

Automakers have historically resisted significant pay increases, especially this unusually large one. All eyes are on UAW and Big Three as the contract deadline looms.


Poster Comment:

"40% pay hikes for its workers over four years."

They'll still be underwater if they get it. They'd need at least a 100% to break even.(1 image)

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Esso (#0)

They will get it too, because Biden is here to help the Unions, just like they helped him get elected.

"Call Me Ishmael" -Ishmael, A character from the book "Moby Dick" 1851. "Call Me Fishmeal" -Osama Bin Laden, A character created by the CIA, and the world's Hide And Seek Champion 2001-2011. -Tommythemadartist

TommyTheMadArtist  posted on  2023-08-04   14:51:24 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]