Elon Musk Says Union Demands Will Bankrupt Ford, GM & Chrysler

Elon Musk Says Union Demands Will Bankrupt Ford, GM & Chrysler

👇👇 Buy something and support The Electric Viking Store 👇👇

Size guide and other help for the store 👇

Join as a member in The Electric Viking YouTube►

Members-only videos (see videos before anyone else)►

A great YouTube channel for toddlers and young children:

👇👇 Please donate here for Shanna (Viking's wife) if you can 👇👇

See what happened to Shanna:

The Electric Viking on other platforms:

👇 See more about me 👇

👇 My Bali trip 👇

👇 Video about My Skateboard 👇

👇 Subscribe to my kids channel 👇

See more videos about Tesla:
The Fiat 500E Abarth hot hatch costs as much as a Tesla Model 3 - worth it?

The European Union says China has subsidised Tesla to takeover Europe

Tesla Giga Shanghai launches 1-piece Giga casting for epic 40% cost reduction

Judge SLAMS lawsuit against Tesla staff, directors and Elon Musk

Huge study of Tesla batteries reveals degradation in hot VS cold climates

EV with battery 25% of Tesla Model 3 size does 2600km's on single charge

U.S. Republicans demand Tesla reveal ties with Chinese battery maker CATL

BYD patents CATL's new M3P battery in the United States

Chery’s iCar 03 all-electric offroad SUV has solar and CATL's new battery

CATL reveal new batteries for Tesla EVs that will KILL the competition

Ford's Battery Deal with CATL Faces Resistance: China & U.S. Congress Alarmed

CATL & BYD's sodium lithium batteries to be in these models this year

CATL unveils Condensed Battery for Aircraft & 1000 mile range EV's

The automaker using CATL's sodium batteries with amazing 200wh/kg

Researchers say NEW battery tech boosts EV range 10 fold

CALB says NEW battery has far higher energy density than 4680 cells

New BYD e2 electric hatchback revealed - better than the Dolphin?!

Biden will announce tough new rules on car pollution to drive EVs

Scientists unveil Solid-State battery breakthrough enabling commercialisation

Is this the first production electric car with a SOLID STATE battery?

NEW wireless battery management system are a GAME changer

NEW Sodium, Aluminum battery is 15X cheaper than sodium or lithium

#elonmusk #tesla #ford #gm #chrysler

👇 👇Reference to the news/charts & videos used in this video:

This channel may use some copyrighted materials without specific authorization of the owner; but content used here falls under the “Fair Use” Copyright Disclaimer under Section 107 of the Copyright Act 1976.

Allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

Contact us for any copyright issues. If you want a credit of any footage we are using, please let us know.

[neilmiley]

Ford and GM left Australia when the Government ended the subsidies to the industry, at the same time the Government reduced import duties on vehicles effectively ending a safety cushion for those firms (Toyota also withdrew in the same period). It happened around the time of the Global Financial Crisis when GM and Ford withdrew to consolidate and protect their US based firms. Essentially neither company invested in modern production techniques and failed to produce cars at a price-competitive level (not to mention that the vehicles they produced in Australia became less popular). Sadly the main issue was the success of the Australian economy during the GFC, the currency increased in value to the point that imported cars were far cheaper than locally produced, and no amount of wage concessions by the unions would have saved the industry.

[williammorgan]

I would like to add some details here regarding WHY UAW demands “ seem” so high.
1. Since 2008 top wage has only increased $4
2. There has been NO COLA since 2008
3. Temp workers are not truly Temps. They work 40+ hrs a week starting at $16.50. The Co can keep them classifies that way for 2 years. IF they convert to Traditional employees their max pay is $25 which takes 8 yrs to get there.
4. There are more Salary employees than UAW who receive a 3-6% raise every year like clockwork. So they have no problem giving a typical raise yearly but only if your salary.
5. Seems ppl forgot the CO were caught by the FBI as bribing prior UAW presidents to accept crappy contracts on our behalf to suppress wages/ benefits for 15 years.
6. If we had just received 3% raise yearly we would be 45% higher than 2008 wages.
7. All concessions UAW did agree to helped save the Co BILLIONS & were PROMISED to be reinstated once the Co became solvent. The Obama administration was part of the Deal. But not 1 concession has come back in 15 years 🤷‍♂️.
8. Consider the BILLIONS $$ in stock buybacks they could have used towards ANY investment in the Co & employees. By the way prior to 1980 this was illegal in the US as it was considered INSIDE TRADING..
There are so many issues, just trying to add some insight to the situation.
Ask yourself how much $$ they BIG 3 have saved since 2008 considering the few details I have laid out…

[buixote]

Oligarchs always complain when they have to pay their workers more. Plenty of malfeasance/incompetence in Management to account for business failures.

[filhodarosa]

Musk is speaking to his own employees. He’s saying “don’t unionize”

[downsthompson]

Mary Barra makes 362 times as much as the average worker at GM whose labor costs represent 5% of the value of a vehicle. Her ‘performance based salary’ is based on one metric- stock price - which she and her board members artificially inflate with billions in stock buy backs which do little for the long term health of GM. Maybe wealthy CEO s should start looking in the first when it comes to cutting outrageous costs.

[makshima]

One possible incentive for Musk to make his statements against unions is because if union shops pay more, it puts pressure on non-union shops to offer comparable compensation. I'm not suggesting that a 40% wage increase and 32 work week is viable, just offering a suggestion as to Musk's motivation.

[grahamcampbell]

Mr Evans, you need to evaluate the unions demands against recent management pay increases of 40% and billions of dollars spent by the board on stock buy backs. Ford have been very profitable and have squandered billions on greed driven directors salary increases and stock buy backs that directly benefit directors compensation. This has been one way traffic, now Ford’s board paint the union as radical for demanding a fair share of the profits made in recent years.

Just look at union wages and pensions before 2008. The union sacrificed a lot when management asked them to. Look at the sacrifices made by workers in 2008 to keep Ford operating. Those sacrifices have not been made up or made whole since then. Management have screwed the Ford workers and complicit union bosses let them do it. Now new union leadership is fighting for what should have been demanded a decade ago. The fact is the workers have been screwed since 2008. The management have taken advantage of the workers and have not properly paid them. This strike, these demands haven’t just emerged, these demands have grown due to management greed and mismanagement.

[JohnHerminghaus]

The unions are correct about the excessive salaries pais to executives.

[eddiegardner]

The bottom line is that they have to be able to make cars that the public want and can afford to buy. If they don't, they will soon disappear as businesses.

[carrisr]

Really hard to argue that GM can't afford to pay workers more when they have been funneling huge profits into stock buybacks. Especially when those workers have not had even cost of living increases since 2008! If these (the same goes for most large US companies) really wanted to stay in business long term they would worry more about stake-holder (employees, customers, etc.) value rather than stock value. But these CEO's and shareholders only care about short-term profits so they pump and dump.

[colinplaisance]

The 40% wage increase seems high, but the wage of the a GM line worker is basically the minimum wage in Australia.

[brianolson]

The only thing that will bankrupt the automakers is the greed of the management

[DileepaRanawake]

Workers deserve higher wages. It’s unethical for ceos to earn that much when others earn just a fraction. If Farley or other ceos want to earn that much they need to make businesses that can pay people more. I think the 10x rule of ceos not getting more than 10x the lowest paid worker is a reasonable baseline.

Definitely don’t want legacy automakers to go bankrupt and want evs to succeed but worker exploitation is not the way.

[swanvictor]

Sam, hope your family are doing well. Just a small point about something you said about American car factory workers and what they earn: No, Sam, they DON'T get PAID $200 - 300, 000 a year!
The average take home pay for a line worker at Ford and GM (that is, what they actually get paid into their bank accounts!) is around $65, 000 (Averaged). The high figures you have seen quoted, $200, 000 per worker, is the COST for the Employer, due to Taxes, State and National, Insurances, Pension funds, Legal Costs BUT ABOVE COSTS!! Because of the INSAME policy in the USA of NOT having Socialized Heal Care, then the Employer has to foot the bill!
Always amazes me that the USA, "Land of the Free" 'Champion of Capitalism' will ONLY give Bail-Outs from the Tax-payer to Corporations but refuses to give Health Care to its population! Socialism for Corporations, Capitalism for the people!

[stevematthews]

When auto workers are demanding a 40% pay raise, they're talking about workers making not much above minimum wage. Unfortunately, American workers are competing with workers in countries that don't make the American hourly wage in a day.

[live_first]

The same thing happened to the British car industry. British Leyland went from having 40% of the british car market to 0 in 30 years due to conflict with the unions reducing profits for investment, damaging the reliability of the cars and the reputation of the company and complicating management. I remember speaking to 2 union stewards in the 60s and thinking then that the company was finished unless attitudes changed. Now the MG brand name is succesful again but the cars are made in China by SAIC.

[Fitforacting]

I hope they wake up. I don’t want the legacy automakers to go bankrupt. I just want them to make good EV’s and stop the mark ups

[altonmckenzie]

If they are not making profits why is he being paid 16 million?

[scruffy]

We can't raise your pay, it'll bankrupt us. But, our pay is justifiable.

[LongDefiant]

No he's wrong. Companies need to bring their spending back into line. Stop the stock buybacks, stop the dividends, stop the obscene executive compensation.