During the recent UAW Town Hall event President Shawn Fain made the point that the Detroit 3 automakers can afford to restore pay and benefits lost during the Great Recession. It is well known that talk is cheap so how did he prove that these companies can’t claim poverty with a straight face?
He stated that GM, Ford, and Stellantis have reported profits of almost a quarter of a trillion dollars, that’s $250 billion in the last ten years! Can you picture how much money that is? The graphic below may help. Put it this way, the Detroit 3’s profits during the last ten years could of bought every NHL, NBA, and MLB team and still have $50 billion dollars! Do you think they will go broke if they don’t have substandard wage tiers or include cost of living allowances (COLA)? You can watch the entire Town Hall by clicking here.
