.RBReich: GM is betraying the American worker. And Trump is hanging them out to dry | Opinion
As the General Motors strike enters its second week, nearly 50,000 workers continue to demand what they see as their fair share of its profits and an end to layoffs. What's happened to GM's workers is a microcosm of what's happened to the American worker.
The corporation came roaring back. Over the past three years, it's made $35 billion in North America.Last year, it assigned its new Chevrolet Blazer, a sport utility vehicle that had been made in the United States, to a Mexican plant, while announcing it would lay off 18,000 American workers. Some of this largesse has gone into the pockets of GM executives. Chairman and CEO Mary Barra raked in a compensation package worth almost $22 million last year.
Amazon CEO Jeff Bezos signed the same statement. Last week, Amazon-owned Whole Foods announced it would be cutting medical benefits for its entire part-time workforce—at a total savings of about what Bezos probably makes in two hours.Profits now constitute a larger portion of national income, and wages a lower portion, than at any time since World War II. These profits are generating higher share prices and higher executive pay, resulting in wider inequality.
America's shift from farm to factory was accompanied by decades of bloody labor conflict. The subsequent shift from factory to office and other service jobs created further social upheaval.
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