Michigan Bulletin Boards

Stay on Strike! .. Fair is Fair! Physical laborers should be compensated just as much as the ones sitting on the phone behind their desks. It's not like they can work remotely. hm.

General Motors Co. has lost $800 million in operating profit so far in the now 40-day strike by the United Auto Workers, the automaker said Tuesday, signaling mounting financial impact of the walkout.

Give the workers half of that and well .. wow!

.. The Detroit automaker estimates it will continue to lose $200 million every week the strike continues with the facilities currently under a work stoppage. The losses could increase should the union decide to expand its strike against GM.

The UAW is striking at 20 GM plants, including two assembly facilities and 18 Customer Care and Aftersales parts distribution warehouses. Workers at GM's Wentzville, Missouri, midsize truck plant have been on strike since Sept. 15, when the union's contract expired with GM and its crosstown rivals Ford Motor Co. and Stellantis NV. GM's parts warehouses were added to the strike target list on Sept. 22. The UAW on Sept. 29 added the Lansing Delta Assembly plant, home of the Chevrolet Traverse and Buick Enclave SUVs.

Uncertainty of the strike's financial effects led GM to withdraw its 2023 full-year guidance, "even though our strong underlying business fundamentals were pushing us toward the upper half of our guidance prior to any of those strike impacts," Chief Financial Officer Paul Jacobson said.

"After we've had a ratified contract, we will provide an investor update to quantify the final impact of the strike as well as costs moving forward," Jacobson said.

In the second quarter — before the UAW strike — GM estimated it would amass $12 billion to $14 billion in operating profit for all of this year, up from the $11 billion to $13 billion guidance announced during first-quarter earnings; that was an increase from a previous outlook of $10.5 billion to $12.5 billion. GM's net income for the year was expected to be $9.3 billion to $10.7 billion, up from the previous outlook of $8.4 billion to $9.9 billion.

GM had also increased its adjusted automotive free cash flow to between $7 billion and $9 billion, compared to a previous outlook of $5.5 billion to $7.5 billion. GM's third-quarter results beat Wall Street expectations on Tuesday with net income of $3 billion on revenue of $44.1 billion.

Read Complete Source Article by Detroit Free Press

Mr MiBBS wrote: ↑Tue Oct 24, 2023 5:27 am Stay on Strike! .. Fair is Fair! Physical laborers should be compensated just as much as the ones sitting on the phone behind their desks. It's not like they can work remotely. hm.

General Motors Co. has lost $800 million in operating profit so far in the now 40-day strike by the United Auto Workers, the automaker said Tuesday, signaling mounting financial impact of the walkout.

Give the workers half of that and well .. wow!

... In the second quarter — before the UAW strike — GM estimated it would amass $12 billion to $14 billion in operating profit for all of this year, up from the $11 billion to $13 billion guidance announced during first-quarter earnings; that was an increase from a previous outlook of $10.5 billion to $12.5 billion. GM's net income for the year was expected to be $9.3 billion to $10.7 billion, up from the previous outlook of $8.4 billion to $9.9 billion.

GM had also increased its adjusted automotive free cash flow to between $7 billion and $9 billion, compared to a previous outlook of $5.5 billion to $7.5 billion. GM's third-quarter results beat Wall Street expectations on Tuesday with net income of $3 billion on revenue of $44.1 billion.

I cannot agree more! .. It's huge corporations that take massive profits of billions and billions of dollars. Those CEO's and managers get paid very very good money. While the working 'slaves' barely get by with supporting a family and mortgage and CAR/Insurance/Maintenance payments. Which are all needed so the workers can continue to be slaves for multi billion dollar corporations; where the 1% gain massive paychecks.

Given the times we are in, 'trying to convert to all EV', what 'real' purpose does it serve for the auto manufacturing companies to 'need' to create a new model of each vehicle once every year? Today's technology with gas engines let them run for hundreds of thousands of miles. Why is it so necessary to create 'new' models of 'gas powered' vehicles every year then? It only drains resources when there is no real need for a new vehicle every year.

Sorta reminds me of the damn I Phone (smart phones in general) .. What is the big deal that they need to make a new phone every year? When I was 18, you could go buy a new phone from radio shack for around $30 or $50 and plug it into your wall and pay $20 a month. Now, it's hundreds of dollars, or even over a thousand dollars, to buy a phone. And they push new ones on you every year on top of monthly service charges of like $20-$60-$80 a month! .. AND, if that isn't enough already, all of these 'smart phones' require you to agree to their 'Terms of Service' to use them, while at the same time there are big privacy concerns along with it all.

Any way .. the point of it all being is .. BIG corporations bleeding the people for the 'necessities of life'. While life doesn't seem to be catching up with those monthly/yearly bills! The technology all grows year after year with better abilities and more advanced functions, but nothing gets easier for the people, it only gets harder! Just doesn't seem right at all, now does it?

Pushing all that EV tech on the people, but where's the people's E Homes? Where's the people's solar power? The government has set BILLIONS upon BILLIONS upon BILLIONS of dollars for EV charging and even Hydrogen stations. Which of course will fuel these large corporations like GM and Ford next generation EV vehicles. Which really, the US does not have the resources to supply America with brand new EV vehicles every year.

Does Biden like Tesla? No, he doesn't. He hasn't said any good things about Tesla at all. But.. just wow .. does not anyone else see what is happening? It is the people that are paying for all of this. While at the same time the people doesn't get any breaks, not even with their consumers power bill - as those energy bills are increasing!

I hear ya. Sometimes I wonder what people are doing. Are they really that busy to not pay attention to the future of their children?

Does anyone stop and think how much money 1 BILLION dollars is? It is $999,999,999 and a hundred of those non-copper zinc pennies (that really no one uses any more btw and costs more to make than what they are worth)

Now just for perspective, $999.99 MILLION dollars divided by, say, 50 States = $20 Million dollars for each state. So 1 BILLION DOLLARS would fund each state with $20 MILLION dollars for upgrades housing fixing shit, whatever ..

Now .. just think of what is happening with the United States of America sending Ukraine something of the area of over $100 BILLION dollars. More like $140 BILLION. .. Soo yeah, do that math.

I remember that woman from Hawaii that survived the forest fires saying to Biden .. "Fix your own house before you fix someone elses" .. If I could find the article I would share it, but .. that woman was one hundred dead on.

The math equals: $140 Billion divided by 50 states, you know, for upgrades, housing fixing shit, whatever .. EQUALS: $2.8 BILLION for Each State .. to fix things at our house.

.. and here we are all fussing about GM and Ford losing a measly 2 billion or so .. because they won't pay their employees right.

.. and I am sure that extra .8 BILLION for each United State could still help Ukraine.. Which equals what? $40 BILLION for Ukraine. Surely our Allies can help too. Right?

Some politics of UAW strike:

https://www.msnbc.com/rachel-maddow-sho ... rcna123014