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UE-GE National Contract Negotiations • Online Flier #1

We're Overdue for

Substantial
Wage Increases!

When it comes to inequality of wealth and income among its people, the U.S. has the dubious distinction of being a world leader. GE workers understand this well. While GE sets profit records year after year, we’re having a hard time maintaining our living standards. And while our productivity has never been higher, many GE workers are struggling to make ends meet. Next time the Company talks about paying "competitive" wages, they should be reminded of some facts:

FACT

GE workers will realize only about a 2% increase per year in real wages over the term of this Contract. Only unusually low levels of inflation kept it from being much less. And any GE workers laid off for only one week per year had their entire wage increase wiped out. Add in GE’s outrageous medical cost shifting and we’re barely treading water.

FACT

Meanwhile each GE worker on average produced over $44,000 in clear profits forthe Company last year, up over 50% from just five years ago! No other real or imagined GE competitor comes close to this astounding number.

FACT

GE’s net profits of over $14 Billion last year comes out to an after tax "wage" for the Company of over $1.6 Million an hour, 24 hours a day, 365 days a year.

FACT

If GE divided up just $1 Billion among workers represented by a union in the Coordinated Bargaining Committee (CBC), everyone would get a check for over $34,000. But of course GE has other ideas. In the past two years alone, they’ve spent $35 Billion just buying up other companies.

FACT

Based on his 2002 compensation, it will take Jeff Immelt less than 7 hours to make what the average GE hourly worker earns in a year.

FACT

The recession that GE has been crying about is a product of working people not having enough purchasing power to buy the goods and services needed to spur the economy. Higher wages for GE workers is not only good for us, it’s good for the country.

We Need Substantial
General Wage Increases in
Each Year of the Contract!

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United Electrical, Radio and Machine Workers of America (UE)

One Gateway Center • Pittsburgh, PA 15222 • 412-471-8919
www.ranknfile-ue.org

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