Ford GM Stellantis UAW Strike

[Double"O"]

CEOs pay doesn't necessarily need to reflect on the pay of any of the other employees.

Truth

 

[Relaxed Chaos]

Guess who will pay for all this bullshit?

EV buyers? Lulz

 

[1995COBRA-R]

I don't think so.

I think he's being extra to show he's pro membership, unlike his predecessor.

What are you saying?

Do you think Fain will solve this massive UAW attack on Ford buyers?

I am just a possible Ford buyer and say the UAW is trying to kill us dead in the water on price.

We have other options like here in GA, AL, and SC. We are more conservative and like the $100K/year wage rate.

 

[13COBRA]

What are you saying?

Do you think Fain will solve this massive UAW attack on Ford buyers?

I am just a possible Ford buyer and say the UAW is trying to kill us dead in the water on price.

We have other options like here in GA, AL, and SC. We are more conservative and like the $100K/year wage rate.

Set the crack pipe down before your start posting next time.

 

[VRYALT3R3D]

Jim's annual compensation is $21M.

Herbert Diess, CEO of the VAG is $11.1M

Akio Toyoda, CEO of Toyota, $4.6M

Natarajan Chandrasekaran, CEO of Tata (Land Rover, Aston Martin, Jaguar) $13M

Toshihiro Mibe, Honda, $3.8M

Oliver Zipse, BMW, $11M


See where I'm going with this?

The CEO's pay is determined by the Board of Directors. Unless you are a shareholder, it is none of your business.

 

[JimCSHO]

Of that annual salary, how does it break down? How much is cash in other words, and how much is stock? CEO's often receive company stock as part of their pay, so they have an incentive to keep the company stock value up - which of course keeps people investing in the company so it can continue.
If you are going to compare then you have to compare similar items. The guys on the line building Mustangs aren't getting company stock in their pay, they are getting cash.

 

[Corbic]

The CEO's pay is determined by the Board of Directors. Unless you are a shareholder, it is none of your business.

Unless your executive management labor wages are none of your business.

See how that works?

 

[MG0h3]

If Jim took a $1 salary instead of his $21 million. It would net each worker a $121 a year raise, which is just under 6 cents a hour. (per google they have 173,000 workers)

They have 57000 union employees if the innerwebs is right.

Down to a 1 million salary would give them $350 a year.




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[MG0h3]

Jim is one man in the top. The entire leadership group is going to be making double their rivals as well...

Then shock... your rivals are more profitable and agile.

Can't complain about UAW being Fords downfall compared to Non-Union Toyota and not also look at Ford's leadership and management and compare it to Toyota's as well.

It doesn’t matter. You could cut all their pay to zero, and it wouldn’t even come close to what the UAW is asking.

Let’s say the average pay of the union worker is 50k.

We know that’s low.

40% increase would be 20k a year.

Times 57000 employees….

1,140,000,000.00

1.14 billion.


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[MG0h3]

Unless your executive management labor wages are none of your business.

See how that works?

Getting kinda snarky here Corbic

We’ve done math for you.

See how that works? Or doesn’t work, in the case of the UAW ask.


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[q6543]

Well I was wrong and got sent home on strike at 11pm
I suppose I was too optimistic believing they were close on a tentative

Fwiw I thought ford was floating good offers… not enough for some I guess.

Hopefully it doesn’t last long.

 

[triple-s]

Looks like I'm never getting a motor for my truck now been at the dealer 4 months just waiting since they are on backorder.

 

[Corbic]

Getting kinda snarky here Corbic

We’ve done math for you.

See how that works? Or doesn’t work, in the case of the UAW ask.

Did I ever make the argument that his pay should be cut and given to them?

You don't think a UAW worker is worth $70k, why should someone think he's worth $21M?

Plenty of other highly skilled and accomplished CEOs making a fraction of what he does.

Do you really think if Ford posted his job for $8M, they wouldn't be able to find anyone in this entire world as equally able to replace him... in about 5 minutes?

I do not like or support the UAW. I hate them almost as much as I hate Government Unions. I dealt with UAW Local 5 for 12 years. I'm aware of the bullshit and stupidity.

However, I do empathize (understand) with the workers. Since 2018 we've had hyper inflation while they've been locked in their stagnated wages. Vehicle prices have literally ****ing doubled and Ford premium products are getting +20k ADMs. Ford's getting 9 billion from the government and building $300k Hyper Mustangs while these guys can't even buy a Ford Focus anymore. They want a cut of this shit and keep up as well.

I personally do not like Jim Farley and the direction he has taken Ford.

Also, for context since everyone is crying about a 40% union raise.

And in 2020, Ford CEO Jim Farley brought home a total of $11.8 million, which was a 41 percent increase over his 2019 compensation, prior to taking over as the automaker’s CEO. That total consists of a $1.4 million base salary, $5.1 million in stock awards, and around $4.2 million in other awards.

And the dude has since 2020 had a 100% salary increase while the UAW has been stuck with a 3% increase.

I'd like to see what the labor cost % of a new F150 is these days. I bet they number has shrank since 2010 dramatically.

So I "Get It".

I'm not about to picket for them or cheer them on, but I'm also not about to crab bucket the auto workers either.

They help pay my salary more than Jim does.

 

[Corbic]

Of that annual salary, how does it break down? How much is cash in other words, and how much is stock? CEO's often receive company stock as part of their pay, so they have an incentive to keep the company stock value up - which of course keeps people investing in the company so it can continue.
If you are going to compare then you have to compare similar items. The guys on the line building Mustangs aren't getting company stock in their pay, they are getting cash.

Except that's exactly what these numbers are for the unions as well. Ford leadership likes to throw around "oh they have up to $115k a year in compensation just to tighten seat bolts" while the UAW does the opposite and says they only make $26/hr.


Truth is in the middle. Ford is adding in healthcare and vacation time, sick days, bonus opportunity, overtime, premium pay, swing shift, third shift, holiday pay, seniority or skilled trade bonuses, $1 managers (team leads), production bonuses, safety bonus, wellness program costs, etc. to get to these 90-110k numbers.

Now while you would think performance bonuses and stock options would drive positive behaviors, a lot of time it leads to toxic leadership.

Oh, I get a $2M bonus if stocks clear $150/share? Okay, let's move the revenue margins growth to 11% from 9.5% by laying off 500 people and holding salary increase to 2%.

Oh, I need to hold cash flow and rev cogs? Okay, let's not fund that $3M 2 year site refurbishment project that will ultimately yield 20% increase in productivity because I don't want the $3M hit this quarter.

This is why US companies are often hyper focused on quarterly numbers and lack long term 5-10 year strategies.

 

[Corbic]

Here is the 2021 Numbers for Ford's leadership btw.

FORD MOTOR CO Executive Salaries & Other Compensation | Salary.com

Salary, bonuses, stock options, stock awards and other compensation information for top executives at FORD MOTOR CO.

www1.salary.com

$73M for the 5 Officers (total)
$8.8M for the Board of Directors (cash)

 

[MG0h3]

Did I ever make the argument that his pay should be cut and given to them?

You don't think a UAW worker is worth $70k, why should someone think he's worth $21M?

Plenty of other highly skilled and accomplished CEOs making a fraction of what he does.

Do you really think if Ford posted his job for $8M, they wouldn't be able to find anyone in this entire world as equally able to replace him... in about 5 minutes?

I do not like or support the UAW. I hate them almost as much as I hate Government Unions. I dealt with UAW Local 5 for 12 years. I'm aware of the bullshit and stupidity.

However, I do empathize (understand) with the workers. Since 2018 we've had hyper inflation while they've been locked in their stagnated wages. Vehicle prices have literally ****ing doubled and Ford premium products are getting +20k ADMs. Ford's getting 9 billion from the government and building $300k Hyper Mustangs while these guys can't even buy a Ford Focus anymore. They want a cut of this shit and keep up as well.

I personally do not like Jim Farley and the direction he has taken Ford.

Also, for context since everyone is crying about a 40% union raise.





And the dude has since 2020 had a 100% salary increase while the UAW has been stuck with a 3% increase.

I'd like to see what the labor cost % of a new F150 is these days. I bet they number has shrank since 2010 dramatically.

So I "Get It".

I'm not about to picket for them or cheer them on, but I'm also not about to crab bucket the auto workers either.

They help pay my salary more than Jim does.

Actually look up the 2019 contract.

Got 10% is raises plus a bunch of other stuff through 23’.

I never said they weren’t worth 70k. But this sounds like more of an activist battle that one based in reality.

What if the CEO takes a 50% pay cut. Will the UAW take the same pay cut?


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[specracer]

Well I was wrong and got sent home on strike at 11pm
I suppose I was too optimistic believing they were close on a tentative

Fwiw I thought ford was floating good offers… not enough for some I guess.

Hopefully it doesn’t last long.

Sorry to read this.

 

[VRYALT3R3D]

I personally do not like Jim Farley and the direction he has taken Ford.

And the dude has since 2020 had a 100% salary increase while the UAW has been stuck with a 3% increase.

He is managing a multi-billion dollar company that sells vehicles in different continents.

You are complaining that vehicles have become more expensive...the entire market has gone up in price. There is no business reason to not follow that.

p.s. UAW workers getting a massive increase in pay also contributes to inflation.

 

[Weather Man]

Tesla (NASDAQ:TSLA) - which is not represented by a union in the U.S. - is emerging as a potential winner amid all the drama. Gene Munster, managing partner at Deepwater Asset Management, noted that the Big Three pay their workers 38% more than Tesla (TSLA) and that gap is likely to widen if labor talks are fruitful.

 

[Deceptive]

Make UAW workers need bread lines.


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