UAW Contract Expiration

Hilarious Fain is ripping on CEO pay when he's making $350k+/year with no skin the game other than being a front man for labor.
 
GM announced that the strike cost them $800 million so far. That is $1000 less yearly bonus per UAW member based on the current bonus plan. Every billion they lose is another $1000 out of members pockets. For no reason that I can tell either - they seem to have a great offer on the table but Fain doesn't seem to want to settle.

-Geoff
 
wrath said:
Which would you choose... 1,000 now or 10,000 a year in perpetuity starting next contract?
Click to expand...

I am not really sure how your math works. You are saying they are going to get another $10,000 on top of what is on the table now? So the math you are saying is $40k over the next four years on top of the current offer. That is roughly $10k a year, or around $4.81 an hour. To get that, the starting return to work pay would have to be roughly a 25% bump instead of the 10% being offered now. Not saying it is impossible, but it seems like a stretch.

Let's do some more math:

- On strike they get $500 a week. If they normally make $32 an hour (I am ballparking, I think it is like $32 something so my number will be a bit low). Working 40 hours, that is $1280 a week. So they are losing $780 a week by being on strike.
- If they approved the contract, they would get an instant 10% bump, so that $780 a week is really $858 that they aren't making. Because if they went back today, they would get the 10% instantly according to the offer.
- Every month the strike continues, they make $858 x 4 less, or $3432 a month.
- Three months on strike, and that $10,000 signing bonus that is sitting on the table right now isn't even breaking even (and we are half way there already for a lot of workers).
- If you put them at 48 hours, which is quite common, it starts getting even more ridiculous. That adds 8 hours x $48 an hour $384 a week, or $1536 a month. That means a striking worker is missing out on $4968 a month!
- Add in the lost profit sharing of $1000 a month, and the average UAW worker is losing $5968 a month.

That's just math. Congrats to Fain on the long strike. He's still getting paid though, while the hard working guys on the line are losing six grand a month. I hope they get a great offer, but I am not sure they are going to do good enough incrementally here to ever make up for Fain's ego.

-Geoff
 
Last edited:
WhiteHawk said:
I am not really sure how your math works. You are saying they are going to get another $10,000 on top of what is on the table now? So the math you are saying is $40k over the next four years on top of the current offer. That is roughly $10k a year, or around $4.81 an hour. To get that, the starting return to work pay would have to be roughly a 25% bump instead of the 10% being offered now. Not saying it is impossible, but it seems like a stretch.

Let's do some more math:

- On strike they get $500 a week. If they normally make $32 an hour (I am ballparking, I think it is like $32 something so my number will be a bit low). Working 40 hours, that is $1280 a week. So they are losing $780 a week by being on strike.
- If they approved the contract, they would get an instant 10% bump, so that $780 a week is really $858 that they aren't making. Because if they went back today, they would get the 10% instantly according to the offer.
- Every month the strike continues, they make $858 x 4 less, or $3432 a month.
- Three months on strike, and that $10,000 signing bonus that is sitting on the table right now isn't even breaking even (and we are half way there already for a lot of workers).
- If you put them at 48 hours, which is quite common, it starts getting even more ridiculous. That adds 8 hours x $48 an hour $384 a week, or $1536 a month. That means a striking worker is missing out on $4968 a month!
- Add in the lost profit sharing of $1000 a month, and the average UAW worker is losing $5968 a month.

That's just math. Congrats to Fain on the long strike. He's still getting paid though, while the hard working guys on the line are losing six grand a month. I hope they get a great offer, but I am not sure they are going to do good enough incrementally here to ever make up for Fain's ego.

-Geoff
Click to expand...

I am a UAW employee and completely agree with what you wrote. I like what my company has publicly offered but I do not know what the real negatives are because Fain hasn't said. I'm sure it has something to do with job security and the use of TPT workers. I wish he would elaborate though.
 
capone said:
I am a UAW employee and completely agree with what you wrote. I like what my company has publicly offered but I do not know what the real negatives are because Fain hasn't said. I'm sure it has something to do with job security and the use of TPT workers. I wish he would elaborate though.
Click to expand...

I think it is not just you, it is the Big 3 CEO's too, wondering what it will take.

My guess is that he is still fighting tiers. I think the OEM's should just give in on them. They went 80 years or whatever without them. If you do the math (which I love doing), the amount the tiers save is really small. If like 20% of your workforce is on a lower tier, and they make 10% less on average (it goes from 20% to 0%), it is literally like a 2% labor savings. When you are offering 25% total, just offer 23% and get rid of tiers. Same cost!

But yea, shutting down the big money plants hurts everybody, not just the CEOs. Nothing to do but sit and wait I guess.

-Geoff
 
If Fain was making $500 a week this strike would have ended by now. I know quite a few couples where both husband/wife or boyfriend/girlfriend are picketing together. Families are suffering and Fain is getting his money.
 
I lost faith the moment it wasn't about all workers making the same money if this contract does not get rid of the tiered system
 
It was a rhetorical question. The strike is about the future versus a couple bucks in your pocket today. I'm going to ignore the math part because while it was a valiant effort it forgot about deductions.


My employer is a fortune 500 company in which half its workforce is union and half is not. The union has a contract tied to CPI for compensation. If the CPI is higher, they get that for an adjustment each year. So they are dead even with inflation versus 2019, whereas us salaried folk are about 18% behind. The officers of the company, including the CEO, gave themselves on average a 15% raise... this year alone. My employer chose to reduce our sick pay to 90% for the salaried folks... guess what the union is? Did I mention the union also has higher 401k company contributions?
 
wrath said:
It was a rhetorical question. The strike is about the future versus a couple bucks in your pocket today. I'm going to ignore the math part because while it was a valiant effort it forgot about deductions.


My employer is a fortune 500 company in which half its workforce is union and half is not. The union has a contract tied to CPI for compensation. If the CPI is higher, they get that for an adjustment each year. So they are dead even with inflation versus 2019, whereas us salaried folk are about 18% behind. The officers of the company, including the CEO, gave themselves on average a 15% raise... this year alone. My employer chose to reduce our sick pay to 90% for the salaried folks... guess what the union is? Did I mention the union also has higher 401k company contributions?
Click to expand...

Does your employer pay you with an after tax salary? Deductions will be pretty comparable across all those numbers (just 30ish% less). Apples to apples is pre-tax pay which is the math I did. The longer this strike goes, the harder it will be to break even. That was the point of the math. You want a number on $6000 pre tax per month? Probably about $1000 a week less in their pocket.

I am not sure what Fain is doing for you either. Do you think that Fain shutting down the Big 3 is somehow going to change things for you? If anything, what Fain is doing is hurting a lot of hardworking people - many will never get back to even. Until he gets a contract signed, he has helped exactly ZERO people, and once signed it will only be 150k UAW members. A lot of noble talk, but that is all it is.

Sounds like you are getting a bit of a raw deal - time to work on your resume! Seriously!

-Geoff
 
Are you sure? lol

[FONT=&quot]The union's strike fund, estimated at $825 million, provides the money for <g-bubble jscontroller="QVaUhf" data-ci="" data-du="200" data-tp="5" jsaction="R9S7w:VqIRre;" jsshadow="">strike pay</g-bubble>. The UAW noted online Thursday: "Strike assistance pay is available after the eighth day of the strike.[/FONT][FONT=&quot]Sep 15, 2023[/FONT]
 
Krazybones said:
Are you sure? lol

[FONT="]The union's strike fund, estimated at [COLOR=#040C28]$825 million[/COLOR], provides the money for <g-bubble jscontroller="QVaUhf" data-ci="" data-du="200" data-tp="5" jsaction="R9S7w:VqIRre;" jsshadow="">strike pay</g-bubble>. The UAW noted online Thursday: "Strike assistance pay is available after the eighth day of the strike.[/FONT][/COLOR][COLOR=#70757A][FONT="]Sep 15, 2023[/FONT]
Click to expand...

Math time! If the whole UAW went out, it is $500 a week times 150,000 or $75 million a week. That is around 11 weeks based on the strike fund. With 50,000 people out (ballpark to current), that is $25 million a week, so they could do 33 weeks.

-Geoff
 
WhiteHawk said:
Math time! If the whole UAW went out, it is $500 a week times 150,000 or $75 million a week. That is around 11 weeks based on the strike fund. With 50,000 people out (ballpark to current), that is $25 million a week, so they could do 33 weeks.

-Geoff
Click to expand...


You forgot how much was embezzled :secret:
 
You must log in or register to reply here.
Back
Top