STLA - Stand Up Not Out: UAW's Strike Imminent — Union President Shawn Fain Just Rattled The Big 3's Cage | Benzinga
The United Auto Workers (UAW) President Shawn Fain sent a resounding warning to Big 3 automakers Ford Motor Co (NYSE: F), General Motors Co (NYSE: GM) and Stellantis NV (NYSE: STLA), signaling an imminent strike is on the horizon if the union's demands aren't met.
Addressing UAW union members via livestream on Wednesday, Fain spoke about the contrast between the rising profits of automakers and the stagnant wages of workers, condemning what he perceives as corporate greed at the expense of hardworking Americans.
"In just four years, Big Three profits have soared 65% — and auto workers wages are up a mere six percent," Fain noted, underlining the widening gap.
He argued that doubling worker wages wouldn't dent the automakers' enormous profits, pointing out the billions spent on stock buybacks and lavish payouts to Wall Street.
"If they have money for Wall Street, they sure as hell have money for the workers who make the product,” Fain said.
Of the negotiations, he shared the ...