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IPFS News Link • Business/ Commerce

Musk Warns Biden-Backed 40% UAW Pay-Hike Risks Big 3 Bankruptcy (Again)

• by Tyler Durden

Musk said while responding to our post, "They want a 40% pay raise *and* a 32-hour workweek. Sure way to drive GM, Ford, and Chrysler bankrupt in the fast lane."

The last time the automotive industry was in a crisis was when Biden was vice president. During that time, automakers received a bailout from then-President Obama.

Even the corporate press has had to admit that Tesla benefits from the union chaos in Detroit. 

Update (1335ET): 

A reporter asked Biden: "Mr. President, should the UAW get a 40% [pay] increase?"

The president responded: "Yes." 

Here is the moment when President Biden expressed agreement that the UAW's demands for a 40% pay hike over a new four-year contract with automakers should be considered.