Ford GM Stellantis UAW Strike

[q6543]

Pretty solid retirement fund for an autoworker.

I’d this in a 401k?

What data are you using to get this number?


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Ok!
I do 30% into pre-tax teshphe plus the company match.
It comes out to $2491 monthly into contributions.
I put it into S&P 500 and went with a conservative 9% annual compound rate.
You hit your 1st M year 16, 3rd M after 26.
4 M plus if you go the full 30

Like I said it’s back of the envelope but the path is there for significant WEALTH

 

[Weather Man]

General Motors this week offered what Ford offered last week... lol I don't understand how some of these writers keep their jobs.

The striking members are all ready for a deal. The non-striking members are split 50/50. Fain hasn't called for a vote since the beginning. I bet if he calls for a vote on current proposals they pass and everyone is back to work. Fain is currently the hold up.

Fain can't deliver return of traditional pension. He has to wait until no pay pain softens up his own membership.

 

[13COBRA]

Fain can't deliver return of traditional pension. He has to wait until no pay pain softens up his own membership.

His membership is ready to deal if he throws them to a vote.

 

[ford fanatic]

Ok!
I do 30% into pre-tax teshphe plus the company match.
It comes out to $2491 monthly into contributions.
I put it into S&P 500 and went with a conservative 9% annual compound rate.
You hit your 1st M year 16, 3rd M after 26.
4 M plus if you go the full 30

Like I said it’s back of the envelope but the path is there for significant WEALTH
View attachment 1813995View attachment 1813996

I assume you're over 50? If not you're capped at $22.5K.

 

[*Jay*]

Wonder how many UAW people actually maxxed out their 401K every year before all of this, anybody think that number is gonna go up after this mess is over???

 

[mysticsvt]

Finally trickled down to us at Bosch. We were off Friday and this Monday. I like it.

 

[GTSpartan]

Doesn't it get old being pissed off about everything all the time? Because that's what these unions sure like to project. Calling your employer (who actually pays you, not the union) the enemy, and going on record declaring you want to cause lasting harm to the business just seems like a poor strategy. What a way to go through life....mad all the time, and thinking your always being screwed over.

That constant, never ending negative mindset and inflammatory behavior would wear on me. Wake up mad, go to work mad, leave work mad, eat dinner with your family mad, and go to sleep mad. Repeat over and over for 30+ years. The union preys on this, and the membership just blindly goes along with it. Voice your opinion or step out of line in any way, and look out.

 

[GTSpartan]

Wonder how many UAW people actually maxxed out their 401K every year before all of this, anybody think that number is gonna go up after this mess is over???

<10% I am sure. Similar to the rest the country who have less than years salary in their retirements. No problem with a $1000/mo car payments, motorcycles, boats, ATV's, etc.

That's why they want a defined benefits program reinstated, because they don't have the discipline to save for themselves.

 

[Weather Man]

The UAW on Monday added another factory to its strike against the Detroit Three automakers, bringing the total number of workers on strike to more than 40,000.

Driving the news: Roughly 6,800 workers walked out of Stellantis' plant in Sterling Heights, Michigan, on Monday in a surprise expansion of the historic labor stoppage.

• The factory makes the Ram 1500 pickup, one of the most popular vehicles in the country and the most important model in the Stellantis lineup.
• It's the seventh assembly plant the UAW has shut down during the strike, which also includes 38 parts distribution facilities.
• The UAW blasted Stellantis' most recent offer, saying it's "the worst proposal on the table regarding wage progression, temporary worker pay and conversion to full-time, cost-of-living adjustments (COLA), and more."

 

[Mackie]

The UAW on Monday added another factory to its strike against the Detroit Three automakers, bringing the total number of workers on strike to more than 40,000.

Driving the news: Roughly 6,800 workers walked out of Stellantis' plant in Sterling Heights, Michigan, on Monday in a surprise expansion of the historic labor stoppage.

• The factory makes the Ram 1500 pickup, one of the most popular vehicles in the country and the most important model in the Stellantis lineup.
• It's the seventh assembly plant the UAW has shut down during the strike, which also includes 38 parts distribution facilities.
• The UAW blasted Stellantis' most recent offer, saying it's "the worst proposal on the table regarding wage progression, temporary worker pay and conversion to full-time, cost-of-living adjustments (COLA), and more."

Strangely STLA stock was up on the day. Also strangely, Stellantis' market cap is almost 50% higher than GM's market cap currently.

 

[Weather Man]

The United Auto Workers (UAW) union, representing more than 46,000 members across the country, has extended its strike to a General Motors (GM) truck plant in Arlington, Texas. This comes after GM reported a robust third-quarter profit of $3.1 billion, sparking union claims that the company's strong profits should equate to a fair share for the workers. The strike at the Arlington plant, a critical GM facility that produces highly profitable large SUVs, punctuates nearly six weeks of strikes at other GM facilities.

 

[q6543]

I hope this accelerates a tentative.

 

[Deceptive]

Poor babies that can’t talk to other grownups by themselves.

Make the UAW need breadlines.


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[mysticsvt]

Finally trickled down to us at Bosch. We were off Friday and this Monday. I like it.

Well, just got back today and just told we have another 4 day weekend. Definitely gonna run out of vacation...lol.

 

[13COBRA]

Lowering their goals...

 

[svtfocus2cobra]

If the manufacturers feel they have made goo, fair offers then they should stop negotiating and wait it out. I imagine it us brutal on business but when you tell the UAW there will be no more negotiations after a rejection of all previous offers then I feel like it will then fall on Fain as the workers try to live on $500/week. They're going to be pissed when they find out Fain burned all the bridges.

I think that makes the most sense but I'm sure there has been many examples of that in the past that backfired.

 

[02reaper]

If the manufacturers feel they have made goo, fair offers then they should stop negotiating and wait it out. I imagine it us brutal on business but when you tell the UAW there will be no more negotiations after a rejection of all previous offers then I feel like it will then fall on Fain as the workers try to live on $500/week. They're going to be pissed when they find out Fain burned all the bridges.

I think that makes the most sense but I'm sure there has been many examples of that in the past that backfired.

I totally agree with this. If auto makers have stated that's all they can do, then they need to stick to what they said. If they don't that leaves them open to you lied, you said that's all you can give, but you have more....Lets just see how much more you have. I would make it a point though, to keep them on strike until the UAW burned through all their money, and past that.

 

[GTSpartan]

Given that all prior offers have been rejected without a vote, the big 3 strategy should now be to hold to the current economic package in terms of total $ and that's it. Tell the UAW they can allocate it as they best see fit, but this is the pot of money they have to work with. Not a penny more.

Time to get back to work.

 

[q6543]

Very interested to see who lands a tentative 1st.

Back of the envelope math from GMs quarter yesterday is the company PROFITS $5,000 per employee, per week.

That’s quite a bit of wiggle room.
And not based of revenue…but profit.

Fain is right… the money is there.

 

[Rb0891]

Very interested to see who lands a tentative 1st.

Back of the envelope math from GMs quarter yesterday is the company PROFITS $5,000 per employee, per week.

That’s quite a bit of wiggle room.
And not based of revenue…but profit.

Fain is right… the money is there.

A seemingly reasonable take until you start thinking about it more. Is that the profit attributable to the UAW workers products? Do non-UAW employees that are also responsible for this profit get to share in this as well? Does everyone worldwide get to share in this profit sharing? Do they have to give back if there is a loss in the future?

I really don't care as I assume the leaders of these companies are a bunch of greedy d-bags, but I am tired of all the whiny bitches in the world. Don't like the pay of your job. Ok, go get another one like everyone else. JFC there are so many whiny little bitches in this world.