We're Overdue for |
Substantial
Wage Increases!
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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, were 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 GEs outrageous medical cost shifting and were barely
treading water.
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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.
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FACT |
GEs 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.
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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, theyve spent $35 Billion just buying up other companies.
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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.
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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, its
good for the country.
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We Need Substantial
General Wage Increases in
Each Year of the Contract!
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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