UAW wins 25% salary increase at GM Ultium plant

[Rydfree]

McDonalds pays more.

I think the problem lies here. I got a egg McMuffin this morning and it had no egg on it .

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[Tricky Mike]

non value adding plant

But that describes every GM plant for me.

 

[PrepVet]

But that describes every GM plant for me.

LOL. I do not care for GM either, but my super cheap Korean made GM has been great. I don't mean to wear my SJW medals on my chest or anything, but my Chrysler product was made in Mexico and my GM, as I said, was made in Korea. The Fords were made in the people's republic of michigan.

 

[new to bronco]

Base Bronco has gone up nearly $10k already, imagine what it's gonna be in a few more years.

Base has been killed, so now you have to move up in trim if you want a bronco

 

[Shazamalingo]

Buwahahahahahaha. Now that’s funny.

I guess? What is curious is that the more people laugh, the more my investments are worth. It's a different take on the old laughing all the way to the bank adage!

 

[PrepVet]

I guess? What is curious is that the more people laugh, the more my investments are worth. It's a different take on the old laughing all the way to the bank adage!

Only if their is an ROI, there isn't one. The Detroit Three can't get out of their own way. So this is a justified and literal laugh at them.

 

[Shazamalingo]

Only if their is an ROI, there isn't one. The Detroit Three can't get out of their own way. So this is a justified and literal laugh at them.

I agree that the big 3 aren’t nimble here. But it will make money in the long run. And that’s what equities take into account. And that’s why investors are making a ton.

 

[PrepVet]

I agree that the big 3 aren’t nimble here. But it will make money in the long run. And that’s what equities take into account. And that’s why investors are making a ton.

Again that is a false statement. There is no money to be made with these batteries. All electric cars are fine short commuter cars and fun toys, but they simply cannot replace all cars. They are going to be a stopgap means of propulsion for a niche amount of car buyers. This plant is only able to come close to getting over the break even point if they are using an economy of scale. One they have absolutely no path to. It's simple economics.

 

[Brsox]

Their requested pay raise is to be spread over 4 years. It's still huge but not as huge as claims imply.

How is that huge? Spread over 4 years, it's 6.25% per year. Inflation was running around 8% annually recently, and we all know it was A LOT higher than that. The rate the Govt gives excludes food and energy. The real rate of inflation was probably around 50%. Anyone who has bought groceries over the last few years knows that groceries have tripled in price. Gasoline has doubled, automobiles are up at least 50%. Home prices are up at least 50%. A 25% raise spread over 4 years doesn't even keep up with the real cost of living.

 

[Dog]

GM increased salaries by 25 % at its Ohio ultium battery plant! A big win for the UAW! The UAW is asking for an across the board 40% increase in salaries for members in current contract negotiations. Saddle up buckaroos !

A big win? The 25% "raise" is simply taking starting pay from $16 to $20 an hour. If I were the UAW I wouldn't be using this as a win, when unrepresented workers can work at Target or McDonalds for more money - without paying dues

 

[Shazamalingo]

Again that is a false statement. There is no money to be made with these batteries. All electric cars are fine short commuter cars and fun toys, but they simply cannot replace all cars. They are going to be a stopgap means of propulsion for a niche amount of car buyers. This plant is only able to come close to getting over the break even point if they are using an economy of scale. One they have absolutely no path to. It's simple economics.

Love this take. Keeps the money rolling in.

 

[Brsox]

A big win? The 25% "raise" is simply taking starting pay from $16 to $20 an hour. If I were the UAW I wouldn't be using this as a win, when unrepresented workers can work at Target or McDonalds for more money - without paying dues

Exactly. Building cars is back breaking work. The local CVS pays $20 an hour to work a register. The auto manufacturers are taking in record profits while paying slave wages.

 

[PrepVet]

Love this take. Keeps the money rolling in.

If it keeps the money "rolling in" then that money is from complete idiots (so the government and people paying mark ups on Broncos). But I don't understand how people can have such a narrow and uneducated view on economics and electric cars. Buying into a myth to feel good is not a fact nor a sound economic path.

 

[PrepVet]

Exactly. Building cars is back breaking work. The local CVS pays $20 an hour to work a register. The auto manufacturers are taking in record profits while paying slave wages.

Actual slaves would like to have a word. hahahahahahahahaha

 

[TripleB]

I agree that the big 3 aren’t nimble here. But it will make money in the long run. And that’s what equities take into account. And that’s why investors are making a ton.

Tesla and the Chinese EV makers will continue to take share from the legacy autos. They will continue to drive cost down. They are the only ones that make money on EVs. EVs are rapidly taking auto share globally (2020 4%, 2022 14% and going). Legacy autos are handcuffed by outside suppliers, unions and dealers. Most legacy autos will die. The rest will consolidate just to stay alive.

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