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

Post by amrocha » Tue, Sep 19, 2023, 5:55 AM UTC

WkndTriathlete wrote: post #452

acdha wrote: post #438

Earlier quoted context omitted.

I agree but would phrase it differently: C-level stress is often self-created – gotta have a bigger mansion, longer yacht, hotter trophy wife, etc. than my frat buddies - whereas many of their employees’ stress is externally-driven - hoping the car doesn’t break and cost you a job, worrying that the cost and time of a return to office mandate will take a big chunk of what’s left of your margin after inflation, etc. I…

I'm married to an exec and I can tell you both that (a) The stress is very real, and (b) It's not self-created, it arises due to the responsibility and magnitude of decision-making coupled with having to deal with other execs that are promoted beyond their ability yet somehow still have absolute faith in their ability to lead and execute despite their limited experience, worldview, or both, and (c) It seems to be abo…

Post by TrackerFF » Tue, Sep 19, 2023, 7:52 AM UTC

grecy wrote: post #376

meindnoch wrote: post #79

"Obviously, CEOs should be the highest-paid person in an enterprise" Hold on there chap! How is this obvious?

For a fun thought experiment: If the CEO go on strike and don't come to work for a month, how many cars will not be built, and how money will the company lose? If the union factory workers go on strike and don't come to work for a month, how many cars will not be built, and how much money will the company lose? Therefore, who is actually more important to the earnings and success of the company?

Post by apexalpha » Tue, Sep 19, 2023, 8:16 AM UTC

bufferoverflow wrote: post #512

seanmcdirmid wrote: post #507

Just wondering, but are any of the American car companies doing well besides Tesla? Every year they seem more irrelevant, even Texans will buy Japanese pickup trucks these days. I just don’t see them rich enough to pay their CEO or workers 40% raises, and that increase is just going to be temporary as their business become less viable and layoffs or insolvency follows.

Best-selling cars in the US are • Ford F-series(F-150 being the most popular car in the US) • Chevy Silverado • RAM Pickup • Tesla Model Y • Toyota Rav4 • Honda CRV • Toyota Camry • GMC Sierra • Nissan Rogue • Jeep Grand Cherokee So 6 out of 10 are American.

Post by lifeisstillgood » Tue, Sep 19, 2023, 8:42 AM UTC

logicchains wrote: post #348

brutusborn wrote: post #116

Earlier quoted context omitted.

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

With the complete end of the gold standard in the 1970s, the government/fed's been free to create as much USD as it wants. The benefit of newly created money goes to those who spend it first (it's essentially a wealth transfer from those who get it last to those who get it first), and it's the banking/financial system that generally gets first dibs on this newly created money. This means there's a continuous, persist…

Post by smugma » Tue, Sep 19, 2023, 9:47 AM UTC

IG_Semmelweiss wrote: post #414

mplewis wrote: post #230

Earlier quoted context omitted.

All of these things are good for workers, their quality of life, and the quality of their work, and American workers deserve those things.

Defined benefit plans?? The only defined benefit plan left is social security , which is fast going into insolvency in exactly a decade, and where it will automatically be cut 25% once that happens!