Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

cnbc.com

Post reply on HN
Print view View original

111–120 of 611 posts

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#111

Post by l33t7332273 »

dmitrygr wrote: post #16
endisneigh wrote: post #4

40% over 4 years isn't as crazy (especially when you consider that they had some concessions back in '08). typical clickbait when you consider this is a high value for negotiation and they're likely looking for anywhere between 20-30% over 4 years when it's all said and done. barely above inflation YoY.

> they're likely looking for anywhere between 20-30% over 4 years when it's all said and done. TFA conveniently points out to you that 20% has been offered to them and was rejected.

Good. As it should be. Record profits deserve record contracts.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#112

Post by [deleted] »

skyyler wrote: post #81
cj wrote: post #44

Earlier quoted context omitted.

IMO an equation like that would be fine as long as you made it possible for CEOs of larger companies to make more money than CEOs of small and medium sized companies. There’s a job market for C-Suite employees (whether we care to admit it or not). At a certain point you won’t get qualified candidates if you can’t reward them enough, same as engineers or any other role. The answer for how much CEOs should be paid is t…

Well that's simple, larger companies that want to pay their CEO more can pay their lowest paid employees more.

[deleted]

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#113

Post by astrange »

lnxg33k1 wrote: post #89
hinkley wrote: post #58

Earlier quoted context omitted.

THEY ALREADY DO Nobody said the multiple has to be 5. It could be whatever the current ratio for Singapore is.

I am always suprised at how people think that elected official then have to get bribes in order to survive like its a doctor prescription, and how it seems that when they do we can’t do anything about it ffs

They mostly don't, people just like being cynical.

Though, legislators don't have individual power to take action to be worth giving specific bribes to; what may happen is that if someone is friendly to your business, you want to keep them motivated to keep re-running for Congress and do the awful annoying job of being a legislator, when they could instead quit and go back to industry or retire on the beach or whatever.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#114

Post by outside1234 »

vel0city wrote: post #78
astrange wrote: post #38

Earlier quoted context omitted.

It depends how they're counting. There was an example in Money Stuff this week where a CEO got a pay package "worth $110 million". It's actually made of stock options that vest if the share price went above $150, but the expected value was $110 million so that's what was reported. …But the share price only reached $66. So in fact he was paid zero, and he quit. (Well, $1.5 million in cash.) https://www.wsj.com/busines…

> paid zero > paid $1.5 million in cash These are two wildly different things.

Yes - that is serious tails I win heads you lose sort of numbers

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#115

Post by bugglebeetle »

Alupis wrote: post #74

Settle in for a wild propaganda-filled fall season. Between UAW Strike, SWG Strike, barely avoided UPS Strike, and probably a few I'm leaving out, we're going to be inundated with half truths, misdirection, selective statistics and even the occasional outright lie. UAW opening demand isn't just a 40% pay hike - but also a four day workweek (when combined is ~70% increase in pay). Nobody expects for UAW to get everyth…

I’ve worked with “c-suiters” and in an auto parts factory. In no instance did the former work harder than the latter and in some instances the “c-suiters” were far below a factory worker in terms of ability and intelligence. I have, however, never met an auto worker that was born into a rich or well-connected family, which seems to be the primary differentiator between the two groups.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#116

Post by brutusborn »

version_five wrote: post #61
thechao wrote: post #19

Earlier quoted context omitted.

They've become 14.6x more efficient at ... what? Increasing their pay? C'mon.

Like it or not, they've become more efficient at maximizing shareholder returns. 1978 to present included all sorts of financial shenanigans designed to turn a company from the old school "return on assets" model to a financial vehicle that profits on the spread between it's revenue stream and financing costs. I think it's shit too, but the job turned from running a company go making money appear, and the pay went wi…

Any idea why this change occurred?

I know it’s probably multifaceted, but my first thought was that increasing inflation since the 70s has meant that there is an incentive to have as much debt as possible, the hope being that it will be inflated away

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#117

Post by kelseyfrog »

version_five wrote: post #61
thechao wrote: post #19

Earlier quoted context omitted.

They've become 14.6x more efficient at ... what? Increasing their pay? C'mon.

Like it or not, they've become more efficient at maximizing shareholder returns. 1978 to present included all sorts of financial shenanigans designed to turn a company from the old school "return on assets" model to a financial vehicle that profits on the spread between it's revenue stream and financing costs. I think it's shit too, but the job turned from running a company go making money appear, and the pay went wi…

Genuine question, have you tried hating the game and observed the response? I'm curious if your experience has been the same as mine?

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#118

Post by nerdponx »

sokoloff wrote: post #35
jonathankoren wrote: post #5

It’s important to note the workers made huge concessions in 2008 that saved the companies from bankruptcy. Over the years they’ve seen stagnant wage growth, while the execs got solid gold toilets. Even with 40% increase (inevitably spread out over many years), theyd barely be back to where the would have been without the concessions.

Arguably, without the 2008 concessions, they'd be out of a job entirely.

All the more reason why they ought to get a little back at this point.

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#119

Post by clipsy »

ARandomerDude wrote: post #22

Next year’s headline: Auto Makers Hike Prices 40%, Leaving Buyers Stranded

Amazing how the people who are so "concerned" that raising working class wages will result in higher prices never seem to consider that outsize executive compensation, massive stock buybacks, etc are responsible for higher prices. Almost like they aren't concerned with the prices at all!

Re: Striking auto workers want a 40% pay increase–the same rate their CEOs’ pay grew

#120

Post by cplusplusfellow »

supertrope wrote: post #18
cplusplusfellow wrote: post #2

Whereabouts should we purchase land in Mexico? Needs to be near the new factories that'll go in next year.

Companies and individuals do not make decisions based on posturing or their pet peeves. If a company has not outsourced a plant already for cost savings there are reasons for still keeping that operation in the US.

Are you aware of the cost implications that may exist by them keeping the plants here?

Maybe that article linked would help you understand the structural cost implications that are proposed.

Post reply on HN