In addition, he noted, the automakers are poised to release a slew of new electric vehicles that would be delayed by a strike. job market and the companies’ outsize profits have given Fain leverage in negotiations. Marick Masters, a business professor at Wayne State University in Detroit, suggested that the strong U.S. As for Ford, Fain asserted that its response, by rejecting most of the union’s demands, “insults our very worth.”Īll three automakers have countered that the union’s charges are baseless and that they’re seeking a fair deal that would allow them to invest in the future. Last week, the union filed charges of unfair labor practices against Stellantis and GM, which it said have yet to offer counterproposals. During a 40-day UAW strike in 2019, GM alone lost $3.6 billion. On the other hand, if a strike lasted even just 10 days, it would cost the three automakers nearly a billion dollars, the Anderson Economic Group has calculated. It could strike all three, though doing so could deplete the union’s strike fund in under three months. The UAW hasn’t said whether it will select one target automaker. So, too, have Canadian auto workers, whose contracts end four days later and who have designated Ford as their target. UAW members have voted overwhelmingly to authorize its leaders to call a strike.
The majority of our members do not get a pension nowadays. “They get out-of-control salaries,” he said. Speaking last month to Ford workers at a plant in Louisville, Kentucky, Fain complained about one standard for the corporate class and another for ordinary workers. The CEOs of all three major automakers earn multiple millions in annual compensation. They’ve collectively posted net income of $164 billion over the past decade, $20 billion of it this year. Over the past decade, the Detroit Three have emerged as robust profit-makers.
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