You Can Now Listen to Fox News Articles!
Learn why I wholeheartedly support the UAW strike against the Big Three automakers (General Motors, Ford, and Stellantis).
The UAW is engaged in a crucial battle against the immense corporate greed and arrogance exhibited by senior executives in the auto industry and their Wall Street masters. It is astounding that this industry, which had to be rescued by taxpayers in 2008, is now reaping record-breaking profits. In the first six months of this year alone, the Big Three have amassed $21 billion in profits, an 80% increase from last year and a grand total of $250 billion in profits over the past decade. Meanwhile, autoworkers continue to be left behind.
Last year, Mary Barra, the CEO of General Motors, earned a staggering $29 million, a whopping 360 times more than the average GM worker. In the last nine years, her total compensation has exceeded $200 million. Carlos Taveras, the CEO of Stellantis, raked in $25 million in total compensation last year, and Jim Farley, the CEO of Ford, made $21 million – both amounts being hundreds of times higher than the average autoworker’s salary. It’s a stark contrast when the average autoworker’s wages have declined by 30% in real terms over the past two decades.
While the Big Three spent $9 billion on stock buybacks and dividends last year, the average starting wage for employees is a mere $17 an hour. Workers are even leaving the industry to seek better-paying jobs at fast-food chains like McDonald’s. I recently had the opportunity to meet with some of these autoworkers who shared their experiences. One worker revealed that they were coerced into working for 90 consecutive days, 12 hours a day, without any breaks for weekends or special family occasions. Another worker, employed as a “temp worker” for nearly seven years, was denied a car loan because her job description did not demonstrate the necessary longevity. The UAW is fighting against these absurdities.
This historic strike marks the first time the UAW is simultaneously striking against Ford, General Motors, and Stellantis, demanding fair treatment and a fair share of the record-breaking profits generated by the labor of autoworkers who have made significant financial sacrifices over the past four decades.
Key demands by the UAW include fairness in pay, seeking similar pay raises and cost-of-living adjustments offered to CEOs, as well as an end to the two-tier system that creates wage and benefit discrepancies among workers performing identical tasks. Additionally, the elimination of exploited and devalued “temporary workers” and the restoration of pensions and retiree health benefits stripped away during the 2008 Wall Street crash are crucial objectives. The UAW also advocates for the right to strike when plant closures are announced and ensuring equal wages and benefits for workers in the emerging electric vehicle battery industry.
While the corporate media commonly paints strikes as detrimental to the economy, I argue that the true negative impact lies in autoworkers who cannot afford the very products they manufacture or secure a mortgage on a modest home despite their companies enjoying record-breaking profits. How can an economy thrive when parents struggle to afford childcare and college education for their children? These are the pressing issues the UAW is striking against.
The auto industry’s condition mirrors the broader American economic landscape. The average worker’s weekly wages today, accounting for inflation, is $50 less than it was half a century ago – despite tremendous increases in productivity and CEOs earning 400 times more than their employees. Record-breaking corporate profits and lavish stock buybacks are failing to improve the economic well-being of American workers. Over 60% of workers live paycheck to paycheck and face incredible stress regarding rent, healthcare, childcare, and basic needs.
For the past 50 years, wealth distribution in America has been alarmingly skewed, with over $50 trillion shifting from the bottom 90% to the top 1%. Corporate profits have funneled into the portfolios of the wealthy elite. The UAW recognizes the urgency of addressing this issue and is advocating for the restoration of pensions and retiree health benefits that were stripped from new hires during the 2008 Wall Street crash.
This fight led by the UAW is not radical but necessary. Autoworkers, who have dedicated their labor and made immense sacrifices, deserve to share in the prosperity they have helped create. As we move towards a future focused on combating climate change through electric vehicles, the UAW emphasizes the importance of ensuring these green jobs offer fair pay and union benefits. It is time to prioritize the well-being of families and provide them with the stability they deserve.
Click here for more Fox News opinion articles.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
