News for hackers. Stuff that matters.

A comment on G.M. Strike: 50k Union Workers Walk Out Over Wages and Idled Plants. Parent comment

Re:G.M. Strike: 50k Union Workers Walk Out Over Wages and Id... by _edo on Monday September 16, 2019 @01:24PM (#20986426)
By sharing in losses I mean losing money in absolute terms, that's what happens to owners. Owners don't just make less money in bad times, they lose money. Workers may lose money relative to what they think they would make otherwise, but they still make money.

Accepting the risk of losses is why owners have a legitimate claim to the profits. Workers take a guaranteed paycheck which shelters them from losses in bad years and forfeits their claim to profits in good.

[ Parent | on HN ]
Re:G.M. Strike: 50k Union Workers Walk Out Over Wages and Id... by Tomte on Monday September 16, 2019 @01:31PM (#20986513)
> Workers take a guaranteed paycheck which shelters them from losses in bad years

It's just great when workers accept pay-cuts in bad times, just for people like you claiming that this is just normal, no loss, and certainly no reason to restore their paycheck when good times are returning.

[ Parent | on HN ]