We all know how Ford, much to the chagrin of the Obama Administration,declined the taxpayer funded bailout boondoggle, and thus be under the thumb of BO and the Unions. Instead, they did what any corporation in trouble would do - namely tighten their belts, shed unprofitable lines and delivering products the public wanted. You would think that this would make Ford's employees happy since they averted disaster and increased both sales and profits. I'm sure that would be the case if Ford was a non-union workplace, but alas, they are not. The UAW apparently can't stand the fact that management at Ford did what the stakeholders paid them to do and came out of the recession in flying colors. This from Fortune Magazine (emphasis mine):
"Ford is the most likely to get whacked, because Ford is doing the best of the three companies," says a U.S.-based executive of a foreign automaker. "Mulally got the fattest pay package. And don't forget, the government saved Chrysler and GM, in part for the sake of the union, so it would be ungrateful, if not incredibly self-destructive, for UAW to put the squeeze on those two."
GM's stock will never exceed what the taxpayer's paid for it. Secured bond holder's got screwed in the deal in favor of the Unions and now GM makes cars that nobody wants. Sounds like a good business plan to me. Whereas Ford busted their tail getting their house in order, kept their obligations to the Unions. And now, in gratitude, the Union threatens to go on strike:
But all that success may now bring Ford some serious pain. The Big Three are hurtling towards a September 14 contract expiration with the United Auto Workers (UAW). For the first time, GM and Chrysler are protected against UAW strikes thanks to agreements stemming from the government's $100 billion bailout, bankruptcy and reorganization of the two automakers in 2009. Ford is not. (Its union workers rejected a ballot initiative granting it a similar exemption the same year.)
Absolutely perfect. They can't go after GM or Chrysler so let's get Ford. Okay, Ford does the right thing, not only for the shareholders, but for their Union workers as well. And how do these numbskulls repay the company - Why by striking of course! Idiots.
These morons jumped the shark years ago, and just the optics of a strike after what Ford went thought to stay solvent (much less increase profit by 13% during a recession) will do more damage to the UAW image than anything else. Oh, and by the way, these ungrateful ingrates make more than other auto maker employees as well. This from the same article:
Ford says its labor costs, including benefits, are about $58 an hour, 16 percent more than the going rate at Toyota's and other U.S. transplants.
Just a quick reality check. A Volkswagen plant recently opened up in Chattanooga where 80,000 workers applied for a few thousand (non-union) jobs. So knock yourselves out fellas, make yourselves even more irrelevant than you already are. There are a lot of folks out there who would love to have a job, even one paying a bit less than you're making now.