UAW strike and car prices

I've seen a few replies in this thread with people saying that the executive pay issue is overblown or even a red herring, and if you strictly focus on CEO pay it's understandable why you might think that, however CEO pay is just the gleaming tip of the executive & upper management pay iceberg. Remember the infamous "productivity/pay gap" graph?

Now check this one out:

And this one:

/

Remember that productivity is measured as a grand total of pay, so the productivity/pay gap isn't really that at all, it's just a gap that shows how median pay is lagging behind the total. It's basically just an income inequality graph. And notice that the top %1 line often spikes while the others dip or stagnate, most notably how it falls while the lower incomes rise in the mid-late 90s and reaches a high plateau while other incomes are notably flat in the 2000s. So it's not an issue of just a relative handful of Fortune 500 CEOs drawing these ever-increasing massive paychecks, it's at least 5% of the population.

In reply to mtn :

Ok, but aren't THOSE decisions up to the IRS?

Mndsm said:

Streetwiseguy said:

To sum up, then-  People are greedy,  people are jealous of things other people have, and people dismiss the requirements and abilities of other people, no matter their socio-economic position.

Cool.

This. 

 

 

I disagree, our CTO and founder of the company literally owns a Hawaiiain island. An entire island. He purchased a home on the coast of Florida just to tear it down. He could have given everyone in the company a $2k bonus for what he paid for a property to destroy. 

I'm not saying he owes me or the employees anything, but lets be honest about worker pay vs CEO pay. 

I realize some of you are going to use the mistake thread against me, but that's not the point. 

In reply to z31maniac :

That's part of the problem. That isn't necessarily a description of his PAY, it's a description of your PERCEPTION of his pay. 
 

He may have paid for those extravagances with 20 years of earnings. Or a recent inheritance. Or he may have gone deeply into debt. Or had partners involved.

We make judgements on people based on what we see as differences, when we really don't know what the actual differences are. 
 

It may also be a very large gap. That may be a problem, or it may not. 
 

In reply to GameboyRMH :

And what are you doing to try and become an executive vs a worker?

SV reX said:

In reply to mtn :

Ok, but aren't THOSE decisions up to the IRS?

No those decisions are not up to the IRS. It is up to our congresscritters. The IRS just enforces it. 

In reply to mtn :

Ok, but not in control of the companies, the CEOs, or the workers.

z31maniac said:

Mndsm said:

Streetwiseguy said:

To sum up, then-  People are greedy,  people are jealous of things other people have, and people dismiss the requirements and abilities of other people, no matter their socio-economic position.

Cool.

This. 

 

 

I disagree, our CTO and founder of the company literally owns a Hawaiiain island. An entire island. He purchased a home on the coast of Florida just to tear it down. He could have given everyone in the company a $2k bonus for what he paid for a property to destroy. 

I'm not saying he owes me or the employees anything, but lets be honest about worker pay vs CEO pay. 

I realize some of you are going to use the mistake thread against me, but that's not the point. 

Nah- my agreement wasn't even about that, nor do I know what the mistake thread is. All I am going to say before I berkeley back off to my deadly deadly vipers is- rarely does altruism come with promises of profit, no matter what side it's on. Ain't nobody got someone elses best interests in mind when there's cash on the table. 

In reply to Steve_Jones :

Why would I point out the problem if I aimed to benefit from it?

GameboyRMH said:

In reply to Steve_Jones :

Why would I point out the problem if I aimed to benefit from it?

So just like the other thread, you're not doing anything to move up the ladder. You're just looking at those above you and saying it's not fair. 
 

Move the lego. 

SV reX said:

In reply to z31maniac :

That's part of the problem. That isn't necessarily a description of his PAY, it's a description of your PERCEPTION of his pay. 
 

He may have paid for those extravagances with 20 years of earnings. Or a recent inheritance. Or he may have gone deeply into debt. Or had partners involved.

We make judgements on people based on what we see as differences, when we really don't know what the actual differences are. 
 

It may also be a very large gap. That may be a problem, or it may not. 
 

 

To be fair, he is literally like the 4th wealthiest person in the world with a net worth of $146 billion. When you see your particular company see double digit rises in revenue and profit, yet no one receives raises......I see that as an issue. 

This is not jealousy or anything like that, it's like Office Space. What is the motivation to make the company more profitable and valuable if the people who contribute that work don't get to share in the increased value?

Steve_Jones said:

GameboyRMH said:

In reply to Steve_Jones :

Why would I point out the problem if I aimed to benefit from it?

So just like the other thread, you're not doing anything to move up the ladder. You're just looking at those above you and saying it's not fair. 
 

Move the lego. 

I love that people have voted this down. The truth hurts. 

z31maniac said:

This is not jealousy or anything like that, it's like Office Space. What is the motivation to make the company more profitable and valuable if the people who contribute that work don't get to share in the increased value?

They do, though. Just for example, $10k in 2021, $12k in 2022 from GM alone.

Can anyone quantify taking the bonus away from execs and giving it to the union employees?  If all bonuses were capped at 10% of salary and the rest was distributed to the workers how much would they each get?  

In reply to porschenut :

As previously noted, Ford's CEO Farley has a salary of $1.7 million, and a bonus package of about $18 million. 
 

If the $16 million was split among Ford's 186,000 workers, it would be $86 each.  If it was split among Ford's 56,000 UAW auto workers in the US, it would be $285.

Instead, they got $12,750 each in profit sharing in 2022 (at GM)

In reply to z31maniac :

What is the motivation to make the company more profitable and valuable if the people who contribute that work don't get to share in the increased value?

I totally agree with this sentiment.  I don't think it has anything to do with whether the boss owns an island.

Auto manufacturers DO share profits.  In record amounts. (noted above)

SV reX said:

In reply to porschenut :

As previously noted, Ford's CEO Farley has a salary of $1.7 million, and a bonus package of about $18 million. 
 

If the $16 million was split among Ford's 186,000 workers, it would be $86 each.  If it was split among Ford's 56,000 UAW auto workers in the US, it would be $285.

Instead, they got $12,750 each in profit sharing in 2022 (at GM)

And just to keep it all in one company, Ford employees got a bit over $9k last year in profit sharing.

In reply to Tom_Spangler (Forum Supporter) :

I wonder if that was the auto workers, or all employees...

SV reX said:

In reply to Tom_Spangler (Forum Supporter) :

I wonder if that was the auto workers, or all employees...

When I was a salaried, non-management employee at Ford, I got basically the same profit-sharing check as the union folks did.

Tom_Spangler (Forum Supporter) said:

z31maniac said:

This is not jealousy or anything like that, it's like Office Space. What is the motivation to make the company more profitable and valuable if the people who contribute that work don't get to share in the increased value?

They do, though. Just for example, $10k in 2021, $12k in 2022 from GM alone.

Yes, my particular example was where I work. I should have made that more clear and to be fair, not completely germane to the current discussion.