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

cnbc.com

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

#571

Post by astrange »

r00fus wrote: post #566
astrange wrote: post #205

Earlier quoted context omitted.

That hasn't been true for ~13 years now, Congress's healthcare comes from ACA exchanges.

While this is true, they do get 72% of the premiums paid for by the USG, as well as numerous perks like free onsite visits from OAP etc. Not unlike some large employers.

I remember I was reading a subreddit for actually rich people (/r/fatFIRE) and there was a thread about concierge doctors; everything about the service sounded worse than FAANG health benefits I've used. (Which does include an onsite doctor's office.)

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

#572

Post by astrange »

sib wrote: post #561
astrange wrote: post #463

Earlier quoted context omitted.

Most people with skills are only really capable of working at competing companies.

Really?? I've lived and worked in Massachusetts and Washington, both states with very strong support for non-competes, prior to living in California, and, as a skilled worker (bachelors and masters degrees in computer science, mba, many years experience in tech) I've not had trouble working in many companies that don't compete with each other. And even in companies that do, as long as I wasn't working in directly com…

I mean, I'm in California so my employer can't prevent me from taking a competing job, but the contract does cover starting a business in your free time and they definitely seem to think doing anything on a computer competes with them.

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

#573

Post by astrange »

somsak2 wrote: post #486
astrange wrote: post #137

Earlier quoted context omitted.

They don't, but the important point is: > 2. only rich people will run in the election. Which is not true unless you think AOC is rich. It's not unheard of that congresspeople sleep in their office i.e. are homeless because DC rent is high. https://www.npr.org/2022/12/09/1141635119/the-first-gen-z-me...

> congresspeople sleep in their office i.e. are homeless because DC rent is high any source for this? your link just mentions a representative who has bad credit, it never claims he is homeless.

It's in the second half of the article.

> Dozens of members of Congress have even turned their Capitol Hill offices into their makeshift apartments.

https://nypost.com/2018/05/01/these-politicians-are-sleeping...

Of course, sometimes they're just weird and like it. Mitt Romney lives in a small apartment and only watches TV for fun and he's a multimillionaire.

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

#574

Post by astrange »

ramranch wrote: post #361
MichaelDickens wrote: post #266

Earlier quoted context omitted.

$1.5 million is approximately $0 in comparison to the originally-quoted $110 million—it's less than 2% of the original amount.

You don't spend a percentage, you spend a fixed amount. $1.5 million is enough to live in a nice house, eat what you want, send your kids to nice schools, Aruba in the summer and Aspen in the winter, and still have enough to buy a very fast car. It's easier to focus on EV once you live this life.

Everyone read that as $1.5 million in salary but I didn't mean to say he got that every year. He got it once.

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

#575

Post by astrange »

WalterBright wrote: post #433
Per_Bothner wrote: post #295

Earlier quoted context omitted.

That is true. Elon Musk has greatly affected the stock price of the Company Formerly Known as Twitter.

Since Musk took it private, the stock price is not known.

It has public shareholders like Fidelity, so they do report what they value it at. I don't remember what it is, but it's at least 1/3 marked down.

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

#576

Post by Jensson »

r00fus wrote: post #557
MuffinFlavored wrote: post #332

Earlier quoted context omitted.

serious question: say everyone you described gets a 20% raise what do you think will happen to the cost of goods? what companies do you think are operating with enough margin that they can just afford a 20% rise in their payroll costs?

Did you realize that only 5% of the cost of the vehicle is from labor? So essentially car prices would rise 1%. Sounds acceptable to me.

There is way more than 5% of the cost from labor, you are missing all the extra costs from the parts they buy from other companies. There are way more laborers working on the cars than what the car companies employ themselves, the small number of workers still working at the car companies now try to leverage that but it is unfair to give all the value of the cars to them rather than share it evenly across the industry. And when shared evenly there wont be much left.

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

#577

Post by Minor49er »

lolinder wrote: post #201
Minor49er wrote: post #139

Earlier quoted context omitted.

When picking candidates for employment, why would an employer choose someone who is willing to work five days over someone willing to only work four? A stressed-out employee who is at work is going to outperform a well-rested employee who isn't present

Because their union insists that all their members get a 4-day work week or you don't get any workers at all. This is what unions are for: standing up for workers' rights when the employer would otherwise be incentivized to pursue the short-term gains from exploitation.

Or the workers can go to an employer without a union, work 5 days a week, and see a greater return on the amount of work that they're putting out since they're having 20% more output than the competition without having to pay union dues

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

#578

Post by Minor49er »

pm90 wrote: post #384
Minor49er wrote: post #139

Earlier quoted context omitted.

When picking candidates for employment, why would an employer choose someone who is willing to work five days over someone willing to only work four? A stressed-out employee who is at work is going to outperform a well-rested employee who isn't present

> A stressed-out employee who is at work is going to outperform a well-rested employee who isn't present Citation needed. There is no hard evidence for this belief. In fact, and especially for creative jobs, employees that are well rested and happy will contribute more than stressed out plebe barely getting by.

You ask me for a citation, then make an even more specific claim without providing definitions or a citation yourself?

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

#579

Post by lazzlazzlazz »

nerdponx wrote: post #103
lazzlazzlazz wrote: post #63

I don't follow why workers' pay should increase at the same rate as their CEOs' pay. They're subject to entirely different labor markets with accompanying risks, opportunity costs, supply, demand, cost of replacement, etc.

"Should" is a loaded word here. Market equilibrium is not always the best thing for society as a whole, morally or practically.

I agree — but deliberately breaking the market equilibrium almost always seems to be hysterically worse!

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

#580

Post by l33t7332273 »

MuffinFlavored wrote: post #322
l33t7332273 wrote: post #111

Earlier quoted context omitted.

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

which automaker had record profits, when? all of their stocks are underperforming the index poorly on a 5 year timeframe

Stock price is not profit.
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