Workers strike at all 3 Detroit automakers for bigger share of industry profits

2. Since the concessions the union made in '00 (?) there has been a two tiered pay rate system. Essentially, 1/2 the wages for new hires (was like $28/hr for vets and $15 for newbies in '00). This has caused the big 3 to lean on newbie wages and sometimes do required work 6/7 days a week for >10 hrs a shift. So the new union boss is trying to make a point that equal pay needs to come back along with work/life balance even for factory workers.

3. I did some off the cuff math, GM+Ford+Stellantis did stock buybacks of AT LEAST 9 Billion to shareholders in '22. Estimates of the current kinda crazy opening bid at 40% raises + other incidentals is a cumulative 80Billion split between the big 3 from september of '23->september of '27 so 4 years or ~20Billion a year. A big number but remember the big 3 made something like 50 billion in profit, even subtracting that stock buyback first. So effectively the union is asking for 2/5ths of profits, or 1/3rd if you add in the stock buyback.

tldr; the money is there. The big 3 offerred a 10% raise, union wants 40%. My guess is they meet somewhere around 25%. Or about a year of profits over a 4 year contract. Big 3 would be stupid not to agree they are making money hand over fist and this still leaves them plenty of room to stay nimble. In addition they are losing billions a week with this strike.

This is the UAW's way of making the same point.

Cute phrase, though maybe you can spend some time working in the mines. Most all trades are hiring. It's enlightening how different life/culture/America is, particularly underground.