If you're not clear on why the United Auto Workers union went on strike against General Motors, Ford and Chrysler's Stellantis this morning, look no further than today's CNN interview with "frustrated" GM CEO Mary Barra.
As the highest paid CEO of the Big Three, making nearly $30 million a year (to the average GM worker's 30 bucks an hour), she somehow figures everyone else should be happy receiving only a fraction of the 34% pay increase that she has received. Because, as she explains it, she's the high-"performance" boss, and everything the company makes trickles down from her.
But when asked by CNN's Vanessa Yurkevich how such a pay discrepancy is fair, she won't answer the question (because how could she?), instead trying to sell her "competitive offer on the table" talking point. (See video below, posted by Jordan.)
Yurkevich: "You've seen a 34% pay increase in your salary, you make almost $30 million. Why should your workers not get the same type of pay increases that you're getting?
Barra: "Well, if you look at compensation — 92% of it is based on my performance of the company. … We have profit sharing, so when the company does well, everyone does well. For the last several years, that's resulted in record profit-sharing for our representative employees. … We think we have a very competitive offer on the table."
Yurkevich: But if you're getting a 34% pay increase over four years, and you're offering 20% to employees right now, do you think that's fair?
Barra: Well I think when you look at the overall structure, and the fact that 92% is based on performance … I think we've got a very compelling offer on the table." Yes, for her that is.
Front page thumbnail image: CNN
