{"id":37780,"date":"2023-09-18T12:56:54","date_gmt":"2023-09-18T17:56:54","guid":{"rendered":"https:\/\/www.adpulp.com\/?p=37780"},"modified":"2023-09-18T14:04:44","modified_gmt":"2023-09-18T19:04:44","slug":"united-auto-workers-is-battling-the-culture-of-corporate-greed","status":"publish","type":"post","link":"https:\/\/www.adpulp.com\/united-auto-workers-is-battling-the-culture-of-corporate-greed\/","title":{"rendered":"United Auto Workers Is Battling the Culture of &#8220;Corporate Greed&#8221;"},"content":{"rendered":"<p>American workers are tired and tired of being overlooked while struggling to make ends meet. Meanwhile, corporate profits are soaring to unheard-of heights. A<span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\">ccording to the Economic Policy Institute<\/span><\/span>, p<span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\">rofits at Ford, General Motors, and Stellantis almost doubled between 2013 and 2022, totaling $250 billion. <\/span><\/span><\/p>\n<p>Is that money trickling down to the workers in the automotive plants? Not exactly. <span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\">Over the past four years of the now-expired UAW contract CEO pay increased 40% while worker pay increased 6%.<\/span><\/span><\/p>\n<p>Let&#8217;s hear from the UAW president, Shawn Fain, for more context:<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/Z2sgkOVS_Ko?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<h2>Income Inequality Can Be Fixed<\/h2>\n<p><a href=\"https:\/\/www.npr.org\/2023\/09\/18\/1200052537\/uaw-strike-worker-job-plant-layoffs-day-4-gm-ford\">The historic autoworkers strike<\/a> kicked off with 9% of the UAW&#8217;s nearly 150,000 union members walking off their jobs. Three auto plants\u2014the General Motors assembly plant in Wentzville, Missouri, a Stellantis assembly plant in Toledo, Ohio, and part of a Ford plant in Wayne, Michigan\u2014were the first to join the picket lines.<\/p>\n<p>As of late Wednesday, Ford had proposed a 20% wage increase. General Motors had offered 18% and Stellantis 17.5%. The UAW is demanding a 36% pay increase.<\/p>\n<p>&#8220;We&#8217;ve had over 1000 demands,&#8221; said <span class=\"yt-core-attributed-string yt-core-attributed-string--white-space-pre-wrap\"><span class=\"yt-core-attributed-string--link-inherit-color\">GM CEO Mary Barra<\/span><\/span>. &#8220;I&#8217;m extremely frustrated and disappointed. We don&#8217;t need to be on strike, right now. We put a historic offer on the table.&#8221;<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/njwPfcGtq8o?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p>Fain said, &#8220;We&#8217;re not going to wreck the economy. We&#8217;re going to wreck <em>their economy<\/em> because it only works for the billionaire class. In their economy, one of our workers would have to work 400 years to earn what a CEO earns in one year.&#8221;<\/p>\n<p>I enjoy the rhetorical flourishes from Labor&#8217;s spokespersons much more than the boardroom blahs that emanate from careful corporate mouths. Yet, it&#8217;s not quite true that &#8220;their economy&#8221; only works for them. If this strike lasts for months, the entire supply chain will feel this pain directly, including thousands of non-unionized people who work in advertising and marketing.<\/p>\n<h2>Running the Numbers<\/h2>\n<p>Fain mentioned how new car<span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\"> prices are up 34% and how the American car buyer is being gouged. Let&#8217;s consider for a moment what it takes for a person to buy a new car and a house today. <\/span><\/span><\/p>\n<p><span class=\"ILfuVd\" lang=\"en\"><span class=\"hgKElc\">The average monthly car payment for new cars is <a href=\"https:\/\/www.bankrate.com\/loans\/auto-loans\/average-monthly-car-payment\/\">$716<\/a>. The average cost of car insurance is about $168 per month. There are also gas, tolls, and maintenance costs to consider, which brings the cost of owning a new car well over $1000 per month. Many households have more than one car or truck.<br \/>\n<\/span><\/span><\/p>\n<p>Additionally, housing prices are soaring along with interest rates. Ten years ago, the median cost of a home was $248,800. <a href=\"https:\/\/fred.stlouisfed.org\/series\/MSPUS\">The current median price is $416,100<\/a> and interest rates are over 7% which produces a monthly payment of about $2700\/month, depending on your local tax rates. Plus, any HOA fees, remodeling costs, monthly utilities, and maintenance.<\/p>\n<p>The median salary in the US is <a href=\"https:\/\/finance.yahoo.com\/news\/average-salary-state-us-152311356.html\">$89,000 per year<\/a>\u2014half of the population earns less than this amount, while the other half earns more than the median figure. If you make $87,000 a year and live in Texas (which has no state income tax), your net pay will be $68,437 per year or $5,703 per month.<\/p>\n<p>When a family has two car payments and a median house payment to make, it&#8217;s more than $5K per month out the door before they eat, go to a movie, or do anything else.<\/p>\n<p>According to employment website ZipRecruiter, the average UAW compensation is \u200b$25\u200b per hour or \u200b$52,771\u200b per year. At that rate, it would be hard to afford a new 2024 GMC Sierra 1500 AT4, which costs $78,200 without a lot of add-ons. Monthly payments on the new truck would be $1395\/month, considering a $1000 down payment, a 72-month term, and a 9% rate.<\/p>\n<h2>Plus, Toys! Don&#8217;t Forget the Toys<\/h2>\n<p>&#8220;Tow hitches of the world, prepare for glory.&#8221; Provided that you&#8217;re able to afford a new truck, the assumption in GMC&#8217;s advertising is you&#8217;ll use it to tow your very expensive toys.<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/xOiUFZvjKzU?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p>The boat featured in the GMC ad is right off the showroom floor and has three new outboard motors. I can&#8217;t tell which brand of motor they are, or which brand of boat, but new 300-horsepower Mercury outboard motors go for <a href=\"https:\/\/www.boatspecialists.com\/mercury-300hp-white-verado-outboard-300cxxl\/?sku=Verado%20300CXXL%20Cold,%20MPN:%2013000077A&amp;gclid=CjwKCAjw6p-oBhAYEiwAgg2PgrmnXCIF5irfmOT4R5eLKfAIgluPXffpyaT3y28Q8NMFrhh9p4nK1RoCiAYQAvD_BwE\">$34,300 each<\/a> (not including the cost of the propellors). Now, you just need the boat, the gas, the insurance, and so on. Here&#8217;s a used 2021 Boston Whaler for <a href=\"https:\/\/www.boattrader.com\/boat\/2021-boston-whaler-280-outrage-8907005\/\">$279,500<\/a>. The advertised package costs a half million dollars, give or take a few grand.<\/p>\n<p>To bring it back around to the strike and the income inequality at the center of it, the union&#8217;s request for a 36 percent pay increase, if provided, would boost the average UAW worker&#8217;s pay\u200b by $18,997\u2014still well below the national mean of $89,000 and not nearly enough money to afford the new cars and trucks that they manufacture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American workers are tired and tired of being overlooked while struggling to make ends meet. Meanwhile, corporate profits are soaring to unheard-of heights. According to the Economic Policy Institute, profits at Ford, General Motors, and Stellantis almost doubled between 2013 and 2022, totaling $250 billion. Is that money trickling down to the workers in the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":37781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149,170,141,49,161,343,16,12],"tags":[],"class_list":{"0":"post-37780","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advocacy","8":"category-car-account","9":"category-compensation","10":"category-economic-indicators","11":"category-industry-analysis","12":"category-labor-unions","13":"category-pr","14":"category-resistance","15":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United Auto Workers Is Battling the Culture of &quot;Corporate Greed&quot; - Adpulp<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.adpulp.com\/united-auto-workers-is-battling-the-culture-of-corporate-greed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Auto Workers Is Battling the Culture of &quot;Corporate Greed&quot; - Adpulp\" \/>\n<meta property=\"og:description\" content=\"American workers are tired and tired of being overlooked while struggling to make ends meet. Meanwhile, corporate profits are soaring to unheard-of heights. According to the Economic Policy Institute, profits at Ford, General Motors, and Stellantis almost doubled between 2013 and 2022, totaling $250 billion. 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