The American public is headed toward an economic downturn! The UAW is planning to strike against the big three automakers Ford, General Motors, and Stellantis at midnight if their proposals are not met. They are asking for increases and guarantees in wages, job security, cost of living adjustments, profit-sharing, and adjustments for retirees. My personal feeling – it’s a lot! Then again, in comparison, the automakers’ CEOs and CFOs gave themselves a 40% pay raise and I am sure that does not include stock options they get a substantial discount.
The UAW has every right to ask for these benefits. The Ford CEO was attempting to reason out how if they gave in to the UAW demands the automakers would go under or have to lay off auto workers. Both sides are ridiculous from any perspective. Greed and insensitivity certainly define the automaker executives. Then again, the UAW is asking for far more than most private companies pay their employees in wages and benefits – and that’s relative of course to the industry they are in.
The UAW needs to consider that while their demands for a 20% wage hike, overtime, step increases, and profit-sharing (GM dished out checks totaling $12,750 for 2023) even that may not avert a strike. Many working Americans do not benefit and when needed will have to pay exorbitant car prices so that auto executives can continue to live their lavish lifestyles. American greed is running ramped nowadays in America. It extends into politics where money is not easily transparent, but power is evident.
- My fellow Americans get ready for an economic downturn and price hikes for several products including higher automobile prices in the future much higher than now. Seems that some can no longer live within reasonable means but must squeeze the life out of the working person.