No. of Recommendations: 12
No politics, just economics.
The UAW are on strike, reportedly wanting a 40% pay increase, shorter work week, better job security.
The reasoning goes: CEOs got a 40% raise, so should the workers.
OK, I do believe the CEOs are ridiculously overpaid:
Barra $29m
Farley $21m
Tavares $25m
12,700 UAW workers.
reuters.com - Uaw automakers resume labor talks stellantis hikes wage offerThe automakers have said the UAW demands could hike the current mid-$60-per-hour labor cost to more than $150 an hour. GM said on Thursday the UAW wage and benefits proposals would cost it $100 billion, while Ford's Farley said a 40% UAW wage hike would "put us out of business."Tesla and the Chinese are already taking bites at their lunch.
All big three are out of the small car market.
Ford is getting out of the small "generic" SUV market.
GM got out of hybrids (mistake, IMO. Ford are getting back into hybrids).
GM's new small SUV is built in Korea.
Ford's cheap small "car" (Maverick truck) is built in Mexico.
All 3's EV offerings are pitiful.
It all sounds very familiar to me. Take a look at the history of the British car industry...management mistakes, union demands, products that fell behind, poor quality, dead industry.
