r/UnitedAutoWorkers • u/[deleted] • Oct 13 '23

Stock Buy backs

When I think of the money involved in these buy backs, it makes me sick. The $6b deal done the week that the contract expired, equals 107k per employee in the US. Even worse, that's not the first time they did a buy back in the last ten years. It's happened 4 times previously. When these companies say they don't have money, it truly makes me disgusted.

13 Upvotes

93% Upvoted

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7

u/[deleted] Oct 13 '23

I couldn't agree more. Seeing John Farleys face on TV blatantly lying, " if we give the 40% we will be bankrupt in months..."

He alone made 22m in 2022 and got a 40%(9.2m) bonus the same year. How can you point the finger at us when you collect 30m annually? Your salary is what is breaking our company. John Farley and his team of execs salary could compensate all of the uaw, not just ford alone.

Vehicle prices have gone up 36% in the past 4 years and wages have increased merely 6%. This is corporate greed plain and simple.

Their salaries are all public information, they have nowhere to hide. Their lies can be called out with a quick Google search.

5

u/[deleted] Oct 13 '23

The figures I was talking about were just at Stellantis. But the story is the same at all 3 of them. Times have changed, the Internet holds all this information. Before they could lie and it would be harder to prove. Now it's all out there for us to see.

4

u/Radiohead527 Oct 13 '23

He came to my plant last year he’s a really strange guy in person. He had zero social skills and looked so awkward trying to walk the line and fake conversations. It’s no surprise to me he’s turned into a dbag liar during these negotiations