UAW Negotiators Ready To Seize A Cut Of Record Automaker Profits

The timing could be better.

Less than two weeks into national contract bargaining with the United Auto Workers, Detroit’s automakers each confirm a profit-margin bonanza that is likely to sharpen union pitches to share the wealth — chiefly because there’s so much of it.

General Motors Co. delivered a blistering 10.5 percent margin in North America. Ford Motor Co. topped 11 percent. And, Thursday, Fiat Chrysler Automobiles NV reported margins of 7.7 percent, reaching targets it officially did not expect to hit for several more years.

“We need to be very careful not to fall in love with these numbers in terms of what the machine can do at all times,” CEO Sergio Marchionne cautioned analysts in a call from London. “The objective for us is to close that gap” separating FCA from GM and Ford “and close it as quickly as we can.”

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MDarringer - 7/31/2015 1:39:27 PM

-1 Boost

Greedy money grabbing bullies.

TheSteve - 7/31/2015 2:07:41 PM

+1 Boost

I'm not sure how the UAW is thinking...

- We deserve part of the profits when the going is good (but none of the losses when things god badly, and we also want job security, regardless)

- Get what you can while you can get it, 'cuz we sure won't be able to play this card during the next bailouts

- We *always* want more money, benefits, and security. This is just an opportune time to feed our greed, so we can accuse the other guys of being greedy if they don't give in.

- Bite the hand that feeds you? Hell yeah! That's the way you get more feed!

As you can see, I don't have a soft spot in my heart for unions or union mentality. For you unionized readers who are pissed at the way I think (but have a hard time using words to present a compelling counterpoint), that's what the down-arrow is for, below this post.

MDarringer - 7/31/2015 4:00:29 PM

0 Boost

I up arrowed you, which will no doubt cause a flood of down arrows.

The union should be giving concessions to make company profits bigger and exchange THAT for an agreement not to send jobs overseas or to Mexico and to actually increase production here.

gkearns56 - 8/1/2015 7:11:44 AM

-1 Boost

My IDIOT brother worked for Ford Motor Company and the UAW for over 30 years. "As long as I get my iron out; that's all I care about" is what he would always say. NO wonder they have quality issues and reliability concerns. I NEVER bought a Ford product even though I could have gotten Family discounts n products. I side with my sisters who one works at Audi/VW and other at BMW technical center. I use their family plans.

When he was still working he would get: "Profit Sharing raises; C.O.L.A increases, side bonuses (which equated to around $10,000-$12,000 a year along in this).

Unions were good during the sweatshop days; those days are LONG gone because the government has many safety guidelines that must be followed including OSHA - so they don't have to worry about long hours or safety as a primary issue like the older days. Additionally that is one reason why the UAW union vehicles cost MORE per car to build, than a NON union plant.

They are a bunch of UAW dinosaurs!!

skytop - 8/3/2015 3:39:49 AM

+1 Boost

Didn't car companies learn anything from how the endless greed of the UAW destroyed GM????