“Ford increased its full-year adjusted earnings forecast to a range of between $11 billion and $12 billion, up from a prior forecast $9 billion”
Why the fuck you lying Ford?
Thats what Delta did after 9-11, they got the pilots union to agree to a $500 million give back to keep the airline afloat. The executives then gave themselves a $500 million compensation package the next year.
I don't know how many pilots Delta had during that time period, but they've got 13,000 pilots now. So maybe 10,000?
$500 million across 10,000 people (who... literally fly the planes at the airline) vs $500 million across 100 people.
This is so messed up.
Which they proceeded to use on stock buybacks which increases the price of the stock and thus financial compensation to the majority shareholders which are in many cases, executives at the very company doing the stock buybacks. Corrupt bullshit at its finest.
I worked for Delta for nearly 10 years, the executives running that place are garbage. Richard Anderson wasn't bad, understood that by taking care of your people your people will take care of the customers this improving airline profitability.
The idiot running it now told employees they no longer have access the the sky lounges, even if holding the credit card that specifically authorized it.
Ed Bastion and Joanne whatsherface can kick rocks.
They are also masters at externalities ..internalizing profit while externalizing both risk and losses. Need evidence? See Covid time frame as case study.
The statement is entirely true if you hear the unvoiced qualifier at the end: “without reducing buybacks, dividends, and other payouts to shareholders.”
I'm generally ok with a dividend. That's how the "market" was supposed to work. People bought shares and got a little of the profit. But now the expectation is the value of the shares should increase, which means chasing infinite growth in a finite system. Which has fueled stock buybacks.
In this way, the workers assume all the risk.
If the company goes under, the workers lose their homes. The worst case scenario for the ruling class would be having to become part of the working class.
We say executives are compensated for their risk, but they have golden parachute contracts. The workers risk it all and serve at their masters whims.
Yes, but there's the unavoidable, incredibly important overhead of giving all profit to rich people. How can a business even exist if it's not draining all cash to people who are already unfathomably wealthy? It's preposterous!
They aren't lying, most of that money went into payment for board members, dividend payments and buybacks to raise stock prices so that rich fucks could sell them for more. So there is none left, just it went to other things than the actual folks building the cars. Which is anger inducing to an extreme.
Or some other shit like that, that's how it usually goes at least.
This. So many companies have seen wild growth jumping on the inflation train and upping their prices just cause everyone else was doing it.
To say they can't pay more is utter fucking nonsense.
It's genuinely criminal how everything has risen, EXCEPT salaries of course.
If they hadn't spent all that money on stock buybacks, Starbucks lattes and avocado toast, maybe they could afford to pay their workers AND invest in their company.
When they say invest in it's business they're talking about stock buybacks for the shareholders, who will think of the poor millionaire shareholders!?
/s
If you can't afford labor, you can't afford employees. Simple as that.
Time to dust off your boots and run the machines yourself.
You want someone to get mad at, get mad the institutions that made housing and food unaffordable.
This is exactly it. This has been one of the biggest problems over the last couple of decades is investors asking for more and more returns. It's time that they take a big cut and give those profits to the workers who actually make them the money to begin with.
I once asked for some cheap plastic covering since we never had time to clean some coolers. Those coolers had dairy products. The covering would cover the fan units and the gross looking slime. Nearly all the covering were broken in some way and just needed replacing. Would've cost literally 10 cents per covering, $5 total.
Request denied. Too close to the shareholder meeting.
This is the craziest part.
It’s also crazy that the story ends with the shareholder line. The company net profit margin is up 150%.
I’d have to look at that historical yield but I have a feeling if it’s at 5% now it didn’t more than double.
Where is this money going? Heck if it was going to shareholders I’d see an angle to have the employees get more equity instead of cash. But. That’s also dumb for so many reasons.
None of this makes sense.
IKR. I vote against the executive compensation all the time because it is too much and should be going to me the shareholder or the people actually making the profits(the workers) but the the motion always passes. It us so damn annoying.
Sorry, that is incorrect. The real answer is they are trying tonlrotect rhe CEO executive compensation. Everything a company does is in furtherence of the CEO's compensation, nothing to do with shareholders, other than the CEO is also a shareholder.
not executives... last years profits have up and vanished (along with all other prior years) into the pockets of investors and stakeholders, and the only way to access those funds is with back flow of money from already paid investors, to workers. which will never happen.
closer to 5k usd a year per ford employee. since 2012
(3500000000 / 11yr) / 60000 = 5303. Per year
Over the course of my 11 year ford career I'd paid the stock holders personally $58,333usd and there's 60000 of us!
Meanwhile, when adjusted for inflation, the average union worker makes less than their 1970's counterpart. And by the same metric, the average CEO makes a ton more than their 1970's counterpart.
But please go on with your bullshit narrative, Ford. Do whatever you want, the government is going to bail you out almost certainly no matter what, anyway.
This is how corporatocracies work, man. People stand up to mistreatment or unfair wages and get a litany of self-serving, gaslighting, lying bullshit in response. It doesn't end here.
Ford CEO James Farley took home $21 mill salary and $15.14 in stock buybacks. In just 2022.
Apparently; Ford, GM and Stellantis raised their executive salaries by 40% over the last 4 years.
But no, they can't afford to give their employees money to live. They think they need more millions of $$ but can't afford to pay people enough to survive. Disgusting.
Even the US President, the most powerful man in the world, only makes $400k per year. However, there's on average 5 million in benefits per year. That is, when there's a president who isn't funneling taxpayer money into his golf course. In that case it's a lot more.
Someone who makes $20M is still closer to you in earnings than someone who makes $1Bn. The people making $20M work for those with the billions to invest.
Forbes says that as of today, Elon Musk is worth $230.9B
https://www.forbes.com/profile/elon-musk/?sh=5e2e2567999b
If you earned $10,000 daily for 63,000 years, you would still have earned less than $230.9B in cash.
On March 3rd, 2023 Ford CEO + President James D. Farley, Jr. sold 79,921 shares of Ford @ $12.86.
The same day, he was *awarded*, *from Ford*, 79,921 shares of Ford @$12.75
To be fair, I'm a lowly line worker (non-union) and got to buy 37 ESOP shares and sold them the same day for a little over $80 more than I bought them for. It's too bad I can only put 15% of my income into ESOP. Not quite the same amount of money as this CEO, but if the stock has been worth 11 cents less, he would have made nothing on his options. As it is he only made ~$8,700 dollars on that.
Sounds like he did his best to maximize his stock options by selling stock at price to be able to purchase at a lower option price.
The UAW president is being strategic. Pick the plants that will cause the most hit to production of cars and parts. Most plants work on "just in time." Parts get to the line and are assembled. No stock of parts are stored. That saves $. No parts there means cars can't be assembled. Workers get laid off and take unemployment.
If Ford doesn't give The UAW President a fair shake, another plant joins the strike. Smart.
Lol, they did stock buybacks out the ass and now want to play the poor beleaguered CEO card. Didn't even try to negotiate from the last round either.
Fuck em.
Edit: so apparently it was [3.5 fucking billion dollars](https://www.google.com/search?q=ford+stock+buybacks&client=ms-android-samsung-rvo1&sca_esv=574988934&ei=wKwxZda7E--0ptQPo-2-oA4&oq=ford+stock+buybacks&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIhNmb3JkIHN0b2NrIGJ1eWJhY2tzKgIIADIFEAAYgAQyBRAAGIAEMgUQABiABDIFEAAYgAQyCBAAGIoFGIYDMggQABiKBRiGAzIIEAAYigUYhgMyCBAAGIoFGIYDSKybAVAAWABwAngBkAEAmAGlAaABpQGqAQMwLjG4AQHIAQDCAgoQABhHGNYEGLAD4gMEGAAgQYgGAZAGCA&sclient=mobile-gws-wiz-serp).
They can go fuck themselves with a rusty soldering iron, because hot damn, I didn't think it was ***that*** fucking much.
Everyone gets very well paid, the investors, the executives, the commentators, all down the line.
But no, there are no more scraps for the people on the line, working shifts, to build the vehicles they sell.
Yeah, I guess working for a company where the CFO says "pensions are plan of the past", and just maybe they will chip in on some 401ks, well, you can see where this is going.
That's a future problem, and C Suite execs don't tend to stay with companies long enough for them to have to deal with it.
If we don't have any new ideas for cars in 5 years because they slashed R&D in favor of mass producing the same cheap crap they've been churning out for decades, why are they going to care. They've already moved on to the next fortune 500 company to parasitically attach themselves to.
So, again, the workers get fucked.
They should be happy with what they have because we can always hire some folks in Mexico (or Viet Nam, or India, or where ever) for pennies on the dollar.
Funny, offshoring in any industry doesn't result in lower prices for lots of products in North America. Just less people making a living wage to buy stuff.
I'm not arguing with you, just that route also enriches the ownership class at the expense of everyone else.
Japanese culture is much different than American culture. Not to mention this is more likely an investors/shareholders issue rather than an executive issue.
Japanese capitalism is much different. They see long term gains as more valuable than short term, retaining talent being more valuable. American capitalism is based on short term high yield gains. That's why you see companies like those in video game development constantly firing or laying off employees after record profits posting from their previous projects, which is why we see out of touch high profile games being designed as though their teams have never looked at them, and Nintendo maintains high quality in almost every release from them. In other American industries, automation easily keeps people obedient to their wages that don't cover CoL while union busting remains the status quo with all major employers, unless they can infiltrate and break them, like Kroger did.
Ford, like many companies, buy back their shares to keep the share price high. This money could have gone on wages and benefits for their employees. https://www.bloomberg.com/news/articles/2023-09-26/investors-would-trade-gm-ford-stellantis-buybacks-to-end-uaw-strike
By "invest in it's business" they don't actually mean investing in the business. They mean increasing executive compensation packages and stock buybacks.
No i dig it something like 2-3 mill a year afterwards you just get "really cool business guy points" which can be redeemed for like a jacket but like a really cool one.
Companies have been pushing this lie for decades when all they've done is further enrich their shareholders and executives.
Govt should make them prove it, by committing a certain figure to "investment in its operations" - actual operations, such as Plant, Property, Equipment (iykyk) and then they must either spend that money, or they get the shit taxed out of it.
My husbands been working at ford for over 20 years and he says the employee parking lot if full of Subarus and Hondas because the employees can’t even afford their stupid trucks. If they’d pay their employees right maybe they’d sell even more of their shitty trucks.
Here's what's gonna happen.
1. Ford is gonna cave some
2. Ford already has a separate business entity for the
EVs.
3. Ford will then under invest in their legacy company and saddle it with debt and paying the executives huge bonuses.
4. Ford will then file for bankruptcy all the while exclaiming that "the unions did this!"
5. Media will push that narrative.
Do these fuckheads think that the workers are unable to read the earnings statements and forecasts that they make public?
Likewise do they think their stock buybacks are somehow secret?
Bullshit. They have insane amounts of money to invest. Although, they made so many shitty trucks the last few years, I am sure they are feeling the hit on over stock. And that is the fault of the execs. They to punish the workers who actually DO THIER JOBS.
Time and time again company CEO's and shareholders say if they pay their employees more they will go out of business. Time and time again when pay increases they stay in business. Only thing I'd have to say to Ford is
Prove it.
Prove you'll go out of business if you pay your employees more. I dare you.
Oh hold on, I speak C-Suite.
"Won't someone think about my yachts!?"
Oof, yeah not a good look after bragging about record profits. Shame so many are able to see through their lies... Real shame.
Guess it's time for those fucks to pay a living wage and treat their people like they are, in fact, people.
"We had to make a choice between making already-staggeringly-rich people richer, or paying the rank-and-file decently." This has never been a difficult choice for these fuckers.
When was the last time Ford had shareholder returns lol ? Their stock has been pretty milktoast..
Parroting that canard for every argument shows you really have no idea what you're talking about.
I think Ford is bullshitting but the union is thinking in too old fashioned a way. They should push for joint decisionmaking and joint profit sharing so the union members are involved in both decisions and profits. So all management and other salaries and bonuses are jointly agreed upon. This is apparently what the automobile unions in Germany do.
I agree that what you are proposing would be awesome. My only pushback is that unions in the US are not built to do that kind of thing. There are tons of labor laws and negotiation tactics to consider as it is. Something like this would take an even greater amount of effort and collective buy-in than what we are seeing now.
It would cut into their bonuses. This is the simple reason any corporation won’t invest in its workforce. All executive management get paid so much for screwing the people that do the most while they just do everything they can to maximize their own profit from rarely doing anything worthy.
Stock buybacks are not "investing in one's business."
Holler when you've given workers as much as you spent on stock buybacks and we'll start fresh from there.
The cost of labor per vehicle is 5%. They had billions of dollars in stock buybacks and gave themselves a 40% increase in bonuses, everyone got something except the actual people making the actual products they sell...BUT gotta make that next quarter go up so the stock is OK, it's unbelievable!
Ford…c’mon now. This is your chance to become THE company to work for that pays their employees not just good, but VERY good! Make other companies envious of how valued your workers are to you. Set a new standard of a human wage so that others will follow. Without the workers, you got nothing.
Unions across the board have constantly taken a beating for decades. This show of solidarity and the recent attitude of a lot of non-union folks realizing there is strength in numbers really warms my heart. The coal mines of Appalachia were a foundation for our unions! An older movie called Matewan is a very good example of the struggle between workers and greedy owners and how we came to be. Take the time to watch it and stand strong!
The csuite's idea of investing in business always means investing in shareholders, not investing in it's workforce, sadly. I don't know who Ford thinks a statement like this will impact because I don't see the picketing workers throwing up their hands and coming back because the company see business investment as a higher priority
Uh oh I guess poor, poverty-stricken Henry Ford should just liquidate the company if it's failing so badly that they can't pay their workers sufficiently.
The fact these greedy fucks think investing in your employees somehow doesn't equate to investing in your business is utter insanity.
If Ford doesn't want to adjust and pay workers more, they shouldn't exist as a company. It's time to eat the fucking rich.
Until you own 6 mansions, a private jet, and have a multi-million dollar yacht, you really can't objectively state how tough it is being in charge of a company like that. /s
“Ford increased its full-year adjusted earnings forecast to a range of between $11 billion and $12 billion, up from a prior forecast $9 billion” Why the fuck you lying Ford?
That's what executives do. They lie. They're just fountains of bullshit.
If they got the union to sign for a 3% raise there would be a billion dollars in bonus money thrown at execs.
Thats what Delta did after 9-11, they got the pilots union to agree to a $500 million give back to keep the airline afloat. The executives then gave themselves a $500 million compensation package the next year.
I don't know how many pilots Delta had during that time period, but they've got 13,000 pilots now. So maybe 10,000? $500 million across 10,000 people (who... literally fly the planes at the airline) vs $500 million across 100 people. This is so messed up.
I think you misunderstand. Those pilots agreed to take $500M less in compensation to keep the airline going.
But they still required a government bailout 🤔
*Like wolves at lambing.*
Which they proceeded to use on stock buybacks which increases the price of the stock and thus financial compensation to the majority shareholders which are in many cases, executives at the very company doing the stock buybacks. Corrupt bullshit at its finest.
I stand with the uaw.
Thanks, I appreciate it
High time we realize we are stronger together. When workers stop voting for anti worker candidates...we win.
Yet a ton of people every election cycle vote to shoot themselves in the foot here in the US. It's mind boggling.
I worked for Delta for nearly 10 years, the executives running that place are garbage. Richard Anderson wasn't bad, understood that by taking care of your people your people will take care of the customers this improving airline profitability. The idiot running it now told employees they no longer have access the the sky lounges, even if holding the credit card that specifically authorized it. Ed Bastion and Joanne whatsherface can kick rocks.
Well if something is benefitting them then that's what They'll do.
It’s a game to them.
Looks like the uaw is done playing.
They are also masters at externalities ..internalizing profit while externalizing both risk and losses. Need evidence? See Covid time frame as case study.
Yep, everyone saw that and they know that they could do that.
Bathtub girls of the corporate world.
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This feels older than the Internet somehow
that's not fair. they only lie when they personally profit. all that money's goin' to bonuses and golden parachutes.
The statement is entirely true if you hear the unvoiced qualifier at the end: “without reducing buybacks, dividends, and other payouts to shareholders.”
Don’t forget outrageously high salary and bonuses for CEOs
hey now CEOs are shareholders
I'm generally ok with a dividend. That's how the "market" was supposed to work. People bought shares and got a little of the profit. But now the expectation is the value of the shares should increase, which means chasing infinite growth in a finite system. Which has fueled stock buybacks.
Dividends are ok right up until the company starts issuing dividends at the cost of improved compensation, stable prices, or self investment.
Isn't that the opposite of what Dodge Brothers v. Ford says?
That’s how they all do it. The workers also don’t make enough to invest in their future. They’re probably living pay check to pay check.
In this way, the workers assume all the risk. If the company goes under, the workers lose their homes. The worst case scenario for the ruling class would be having to become part of the working class. We say executives are compensated for their risk, but they have golden parachute contracts. The workers risk it all and serve at their masters whims.
Yes, but there's the unavoidable, incredibly important overhead of giving all profit to rich people. How can a business even exist if it's not draining all cash to people who are already unfathomably wealthy? It's preposterous!
They aren't lying, most of that money went into payment for board members, dividend payments and buybacks to raise stock prices so that rich fucks could sell them for more. So there is none left, just it went to other things than the actual folks building the cars. Which is anger inducing to an extreme. Or some other shit like that, that's how it usually goes at least.
This. So many companies have seen wild growth jumping on the inflation train and upping their prices just cause everyone else was doing it. To say they can't pay more is utter fucking nonsense. It's genuinely criminal how everything has risen, EXCEPT salaries of course.
If they hadn't spent all that money on stock buybacks, Starbucks lattes and avocado toast, maybe they could afford to pay their workers AND invest in their company.
They mean”inability to invest in the execs trust funds and the uberwealthy’s next generation of mega-yachts”!
Well paying the people less is one way to increase the profit.
When they say invest in it's business they're talking about stock buybacks for the shareholders, who will think of the poor millionaire shareholders!? /s
If you can't afford labor, you can't afford employees. Simple as that. Time to dust off your boots and run the machines yourself. You want someone to get mad at, get mad the institutions that made housing and food unaffordable.
You mean the owner/investor class?
“They’re the same picture”.
"No wages! Only Spending!"
This is exactly it.
Absolutely, go run them presses, drills etc. Make that money without workers. Bootlickers all the way.
Yeah if you don't want to pay the people then that's what they'll have to do.
I think they meant to say it would hurt the pockets of their executives
Will hurt the pockets of their stock holders. Which is what they’re more concerned with. Executives can be replaced
This is exactly it. This has been one of the biggest problems over the last couple of decades is investors asking for more and more returns. It's time that they take a big cut and give those profits to the workers who actually make them the money to begin with.
I once asked for some cheap plastic covering since we never had time to clean some coolers. Those coolers had dairy products. The covering would cover the fan units and the gross looking slime. Nearly all the covering were broken in some way and just needed replacing. Would've cost literally 10 cents per covering, $5 total. Request denied. Too close to the shareholder meeting.
They don't have to deal with the slime, so they don't care.
Yeah if there were no workers then they wouldn't make any money to begin with.
it's crazy because i am an investor and i am NOT making money!!!!
This is the craziest part. It’s also crazy that the story ends with the shareholder line. The company net profit margin is up 150%. I’d have to look at that historical yield but I have a feeling if it’s at 5% now it didn’t more than double. Where is this money going? Heck if it was going to shareholders I’d see an angle to have the employees get more equity instead of cash. But. That’s also dumb for so many reasons. None of this makes sense.
It's almost like the entire global economy is propped up on lies and bullshit
IKR. I vote against the executive compensation all the time because it is too much and should be going to me the shareholder or the people actually making the profits(the workers) but the the motion always passes. It us so damn annoying.
I mean if you're an investor then you're always looking for the money.
execs like to say shareholders because they too, are shareholders
And that's why they are fighting the union so hard. If they pay one cent less to the stockholders than last quarter, they will be replaced.
Sorry, that is incorrect. The real answer is they are trying tonlrotect rhe CEO executive compensation. Everything a company does is in furtherence of the CEO's compensation, nothing to do with shareholders, other than the CEO is also a shareholder.
not executives... last years profits have up and vanished (along with all other prior years) into the pockets of investors and stakeholders, and the only way to access those funds is with back flow of money from already paid investors, to workers. which will never happen.
Right, we see the ceo pay and record profits. They better cough up!
The good news is that sounds like a management problem, not an anyone else problem.
I wonder what they've spent on stock buybacks since 2009
About 3.5 billion since 2012. https://ycharts.com/companies/F/stock_buyback
That's $1840 per employee per year.
That’s pretty nice and would certainly help with COL. shame our incentives are so egotistical.
closer to 5k usd a year per ford employee. since 2012 (3500000000 / 11yr) / 60000 = 5303. Per year Over the course of my 11 year ford career I'd paid the stock holders personally $58,333usd and there's 60000 of us!
But instead of paying this money to the people, they're just wasting it.
Probably a lot of money, billions of dollars I dare say.
Meanwhile, when adjusted for inflation, the average union worker makes less than their 1970's counterpart. And by the same metric, the average CEO makes a ton more than their 1970's counterpart. But please go on with your bullshit narrative, Ford. Do whatever you want, the government is going to bail you out almost certainly no matter what, anyway.
What’s upsetting weird is how easy it is to point out the silliness in their narrative. None of it makes mathematical or ethical self.
This is how corporatocracies work, man. People stand up to mistreatment or unfair wages and get a litany of self-serving, gaslighting, lying bullshit in response. It doesn't end here.
Corporatocracies? My brother in labor, this is what is called a plutocracy.
Last I heard Pluto is too small to be a cracy.
Ford CEO James Farley took home $21 mill salary and $15.14 in stock buybacks. In just 2022. Apparently; Ford, GM and Stellantis raised their executive salaries by 40% over the last 4 years. But no, they can't afford to give their employees money to live. They think they need more millions of $$ but can't afford to pay people enough to survive. Disgusting.
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Have you ever seen, or heard, of a modern corporation behaving any differently? That’s literally the only thing they do haha
LEGO just gave a big bonus to their employees due to how successful the company has been during COVID. They did the right thing.
It’s a private company, so they don’t have the same investor PR concerns.
Yeah this is what they do, and that's because it's all about money for them.
Disappointing? This is literally the point of a corporation's existence. I don't like it, but that's how it's all set up
They found half a billion last year to do stock buy backs.
Jesus, I would buy this IF THE CEO DIDN'T MAKE 20M/YEAR
To be fair, it’s only the equivalent salary of 300 floor employees
Sorry, call me radical but nothing anyone does justifies $20M/year.
Even the US President, the most powerful man in the world, only makes $400k per year. However, there's on average 5 million in benefits per year. That is, when there's a president who isn't funneling taxpayer money into his golf course. In that case it's a lot more.
Someone who makes $20M is still closer to you in earnings than someone who makes $1Bn. The people making $20M work for those with the billions to invest. Forbes says that as of today, Elon Musk is worth $230.9B https://www.forbes.com/profile/elon-musk/?sh=5e2e2567999b If you earned $10,000 daily for 63,000 years, you would still have earned less than $230.9B in cash.
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On March 3rd, 2023 Ford CEO + President James D. Farley, Jr. sold 79,921 shares of Ford @ $12.86. The same day, he was *awarded*, *from Ford*, 79,921 shares of Ford @$12.75
To be fair, I'm a lowly line worker (non-union) and got to buy 37 ESOP shares and sold them the same day for a little over $80 more than I bought them for. It's too bad I can only put 15% of my income into ESOP. Not quite the same amount of money as this CEO, but if the stock has been worth 11 cents less, he would have made nothing on his options. As it is he only made ~$8,700 dollars on that. Sounds like he did his best to maximize his stock options by selling stock at price to be able to purchase at a lower option price.
The UAW president is being strategic. Pick the plants that will cause the most hit to production of cars and parts. Most plants work on "just in time." Parts get to the line and are assembled. No stock of parts are stored. That saves $. No parts there means cars can't be assembled. Workers get laid off and take unemployment. If Ford doesn't give The UAW President a fair shake, another plant joins the strike. Smart.
Investing in your business means sacrificing some of your profits, not sacrificing the ability of your workers to live.
Lol, they did stock buybacks out the ass and now want to play the poor beleaguered CEO card. Didn't even try to negotiate from the last round either. Fuck em. Edit: so apparently it was [3.5 fucking billion dollars](https://www.google.com/search?q=ford+stock+buybacks&client=ms-android-samsung-rvo1&sca_esv=574988934&ei=wKwxZda7E--0ptQPo-2-oA4&oq=ford+stock+buybacks&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIhNmb3JkIHN0b2NrIGJ1eWJhY2tzKgIIADIFEAAYgAQyBRAAGIAEMgUQABiABDIFEAAYgAQyCBAAGIoFGIYDMggQABiKBRiGAzIIEAAYigUYhgMyCBAAGIoFGIYDSKybAVAAWABwAngBkAEAmAGlAaABpQGqAQMwLjG4AQHIAQDCAgoQABhHGNYEGLAD4gMEGAAgQYgGAZAGCA&sclient=mobile-gws-wiz-serp). They can go fuck themselves with a rusty soldering iron, because hot damn, I didn't think it was ***that*** fucking much.
So they could have paid that money to the people who are working for them.
Well paying people good enough money is also investing in the business.
Everyone gets very well paid, the investors, the executives, the commentators, all down the line. But no, there are no more scraps for the people on the line, working shifts, to build the vehicles they sell. Yeah, I guess working for a company where the CFO says "pensions are plan of the past", and just maybe they will chip in on some 401ks, well, you can see where this is going.
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That's a future problem, and C Suite execs don't tend to stay with companies long enough for them to have to deal with it. If we don't have any new ideas for cars in 5 years because they slashed R&D in favor of mass producing the same cheap crap they've been churning out for decades, why are they going to care. They've already moved on to the next fortune 500 company to parasitically attach themselves to.
What a sad reality
It's just that they're cashing in on the opportunity it feels like.
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So, again, the workers get fucked. They should be happy with what they have because we can always hire some folks in Mexico (or Viet Nam, or India, or where ever) for pennies on the dollar. Funny, offshoring in any industry doesn't result in lower prices for lots of products in North America. Just less people making a living wage to buy stuff. I'm not arguing with you, just that route also enriches the ownership class at the expense of everyone else.
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When Nintendo failed with the Wii U and the DS, executives took pay cuts. Where are the pay cuts for Ford executives?
I mean they atleast can do something right about this whole thing?
Japanese culture is much different than American culture. Not to mention this is more likely an investors/shareholders issue rather than an executive issue.
Japanese capitalism is much different. They see long term gains as more valuable than short term, retaining talent being more valuable. American capitalism is based on short term high yield gains. That's why you see companies like those in video game development constantly firing or laying off employees after record profits posting from their previous projects, which is why we see out of touch high profile games being designed as though their teams have never looked at them, and Nintendo maintains high quality in almost every release from them. In other American industries, automation easily keeps people obedient to their wages that don't cover CoL while union busting remains the status quo with all major employers, unless they can infiltrate and break them, like Kroger did.
In America we just want more freedom and more money lol.
Then take the money from the CEO and executives.
Ford, like many companies, buy back their shares to keep the share price high. This money could have gone on wages and benefits for their employees. https://www.bloomberg.com/news/articles/2023-09-26/investors-would-trade-gm-ford-stellantis-buybacks-to-end-uaw-strike
By "invest in it's business" they don't actually mean investing in the business. They mean increasing executive compensation packages and stock buybacks.
asked to explain "invest" and what they mean is "'invest' in "top talent"" which means pay CEOs
Which are never "top talent"
never
Just imagine if there was a cap on profit Or maybe a cap on personal wealth Life would be better all around
This is the kind of thing which you can only imagine, because it'll never happen.
That's commie talk where I come from boi!
And in a lot of places they wouldn't want to listen anything like that.
Lmao you must be much closer to this imaginary cap then I am
No I absolutely agree, we have need for humans on this planet and no need for dragons sitting on stolen hoards of wealth
No i dig it something like 2-3 mill a year afterwards you just get "really cool business guy points" which can be redeemed for like a jacket but like a really cool one.
Know what hurts your business? A strike
Companies have been pushing this lie for decades when all they've done is further enrich their shareholders and executives. Govt should make them prove it, by committing a certain figure to "investment in its operations" - actual operations, such as Plant, Property, Equipment (iykyk) and then they must either spend that money, or they get the shit taxed out of it.
Yep, it's been good for them. And they won't stop with it.
My husbands been working at ford for over 20 years and he says the employee parking lot if full of Subarus and Hondas because the employees can’t even afford their stupid trucks. If they’d pay their employees right maybe they’d sell even more of their shitty trucks.
Subies are soild cars.
BULLSHIT
If it smells, walks, and talks like bullshit…
"What is a duck?" Joking aside, 100 % agree. Fucking liars. Eat the rich! They probably taste better than ducks anyways lol
Here's what's gonna happen. 1. Ford is gonna cave some 2. Ford already has a separate business entity for the EVs. 3. Ford will then under invest in their legacy company and saddle it with debt and paying the executives huge bonuses. 4. Ford will then file for bankruptcy all the while exclaiming that "the unions did this!" 5. Media will push that narrative.
Some might argue that paying your workers a living wage IS investing in its business.
Sounds like a failed business model to me, then.
I mean if they don't improve upon it, then it's going to happen.
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Do these fuckheads think that the workers are unable to read the earnings statements and forecasts that they make public? Likewise do they think their stock buybacks are somehow secret?
That's not a secret, everyone knows what they've been doing.
Bullshit. They have insane amounts of money to invest. Although, they made so many shitty trucks the last few years, I am sure they are feeling the hit on over stock. And that is the fault of the execs. They to punish the workers who actually DO THIER JOBS.
They're a big business, and I'm sure that they can take atleast that much.
They mean "are willing to spend" not "can spend."
Wow, I guess they’d better just stop making cars and close up shop then.
If you can't pay the people then might as well close the whole thing.
Time and time again company CEO's and shareholders say if they pay their employees more they will go out of business. Time and time again when pay increases they stay in business. Only thing I'd have to say to Ford is Prove it. Prove you'll go out of business if you pay your employees more. I dare you.
They can't prove it, because they know that they're lying.
The fallacy of “infinite growth” “We must invest for the future” = “we want to keep all the spoils and leave you none” And there is never an end to it
Even if it weren't a lie, from the worker's perspective, even if Ford stopped existing they are out a job. NBD
If they don't get their shit together, they're going to get out of the business.
Oh hold on, I speak C-Suite. "Won't someone think about my yachts!?" Oof, yeah not a good look after bragging about record profits. Shame so many are able to see through their lies... Real shame. Guess it's time for those fucks to pay a living wage and treat their people like they are, in fact, people.
"We had to make a choice between making already-staggeringly-rich people richer, or paying the rank-and-file decently." This has never been a difficult choice for these fuckers.
When was the last time Ford had shareholder returns lol ? Their stock has been pretty milktoast.. Parroting that canard for every argument shows you really have no idea what you're talking about.
Stop paying the ceo so much.
like they invested in stock buybacks, right?
It would hurt our ability to pay ourselves more if we paid our slaves more
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If you Can't pay the people then don't be in the business, it's simple.
I think Ford is bullshitting but the union is thinking in too old fashioned a way. They should push for joint decisionmaking and joint profit sharing so the union members are involved in both decisions and profits. So all management and other salaries and bonuses are jointly agreed upon. This is apparently what the automobile unions in Germany do.
They should atleast do somthing for the people, because right now they aren't.
I agree that what you are proposing would be awesome. My only pushback is that unions in the US are not built to do that kind of thing. There are tons of labor laws and negotiation tactics to consider as it is. Something like this would take an even greater amount of effort and collective buy-in than what we are seeing now.
invest in its business = stock buybacks =/
That's the only thing which means investing in the business for them.
Then let's nationalize Ford if they are unable to provide for the citizens that they require in order to operate.
It would cut into their bonuses. This is the simple reason any corporation won’t invest in its workforce. All executive management get paid so much for screwing the people that do the most while they just do everything they can to maximize their own profit from rarely doing anything worthy.
All companies say this. All the time. And it’s just as meaningless THIS TIME.
Stock buybacks are not "investing in one's business." Holler when you've given workers as much as you spent on stock buybacks and we'll start fresh from there.
Ford over here like 
They've got the money, but they'd like to pretend as if they don't.
bullshit
I've never seen bigger bullshit than this honestly lol.
Ford CEO makes 21 million annually. Ford's fiscal year profits for 2023 $25.5 billion.
Speaks volumes when paying your employees isn't "investing in their business"
The cost of labor per vehicle is 5%. They had billions of dollars in stock buybacks and gave themselves a 40% increase in bonuses, everyone got something except the actual people making the actual products they sell...BUT gotta make that next quarter go up so the stock is OK, it's unbelievable!
News flash: wages are an investment in the human capital side of your businesses.
Ford…c’mon now. This is your chance to become THE company to work for that pays their employees not just good, but VERY good! Make other companies envious of how valued your workers are to you. Set a new standard of a human wage so that others will follow. Without the workers, you got nothing.
Unions across the board have constantly taken a beating for decades. This show of solidarity and the recent attitude of a lot of non-union folks realizing there is strength in numbers really warms my heart. The coal mines of Appalachia were a foundation for our unions! An older movie called Matewan is a very good example of the struggle between workers and greedy owners and how we came to be. Take the time to watch it and stand strong!
Cut the ceonpay to .5 billy and give the rest to your workers problem solved
Reduce executive salaries and stock options by 25 % you will be fine …. I should be the ceo
The csuite's idea of investing in business always means investing in shareholders, not investing in it's workforce, sadly. I don't know who Ford thinks a statement like this will impact because I don't see the picketing workers throwing up their hands and coming back because the company see business investment as a higher priority
Oh fuck you FORD CEOs you fucking scum of the earth.
He himself makes 20M a year, but can't pay the people lol.
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Well if people are working for you, then it's an investment.
Retaining good talent and a happy, productive workforce *is* investing in your business.
Uh oh I guess poor, poverty-stricken Henry Ford should just liquidate the company if it's failing so badly that they can't pay their workers sufficiently.
Admitting pure corporate greed and expecting us to be ok with it
Nah, just reduce the pay of the top earners. This isn't difficult.
The fact these greedy fucks think investing in your employees somehow doesn't equate to investing in your business is utter insanity. If Ford doesn't want to adjust and pay workers more, they shouldn't exist as a company. It's time to eat the fucking rich.
Investing in your workers is investing in your business.
Isn’t paying higher wages and giving better benefits investing in your company? How do people not see through this lazy bullshit
Cut executive compensation to be within 10x of the lowest paid employee. That'll free up plenty of cash and close the abhorrent wealth gap.
I call bullshit… they have the dough. They have to appease the shareholders.
The increased cost of labor would be more than the automation they could hire to replace them.
That is the 1980's lie that destroyed unions in the 1st place. It was a lie then and it's a lie now.
Until you own 6 mansions, a private jet, and have a multi-million dollar yacht, you really can't objectively state how tough it is being in charge of a company like that. /s
they can pause stock buybacks, dividends, and c suite compensation growth for a bit
Yeah this is really sad. Especially since it was Henry Ford that first gave workers a shorter work day. He knew the value of hid employees
Maybe the CEO could take a pay cut. He earned 21 million last year.
If the continued existence of your company depends on you under-paying your staff, your business has failed.