After announcing a surprise strike against (F) -) Ford's highly profitable Kentucky Truck plant Wednesday, United Auto Workers president Shawn Fain addressed union members Friday morning. Though Fain did not announce any new standup strikes against the Detroit Three — General Motors (GM) -), Stellantis (STLA) -) and Ford — he said that, after a month of ongoing strikes with little progress, the union is changing its strategy.
"We're entering a new phase of this fight, and it demands a new approach," Fain said. "We're done waiting until Fridays to escalate our strike. Today, we're not announcing expansion of our strike, but we are prepared at anytime to call on more locals to stand up and walk out."
Related: Jim Cramer has a blunt warning for Detroit Three amid ongoing auto strikes
On the heels of Ford saying that it is "at the limit" of what it can offer to workers, Fain said that the union, still locked in negotiation, is now looking for one thing: a deal.
"There's only one rule," Fain said. "Pony up."
The union is seeking 40% wage increases, cost of living adjustments, better benefits and the elimination of tiers, among other things. While automakers have provided what they have called record offers, including roughly 20% wage hikes, the Detroit Three have been relatively stagnant in other areas.
Ford's most recent counteroffer featured a 23%-26% wage increase and cost of living, among other benefits. But it wasn't enough to stop the strikes.
The cause, Fain said, of workers' high expectations for what promises to be a historic deal is a decline in the living standards of the average worker amid stagnant wages and rising inflation, a result of "overflowing corporate bank accounts."
"What's truly dangerous is to continue to allow inequality to spiral out of control. What's dangerous is to let the ultra rich get richer, while the working class falls further behind," Fain said. "What's dangerous is the way companies and politicians kick workers power down, gut our unions and rigged our economy.
"Unless employers start coming to their senses, unless we start to see real gains in our contracts that match the gains we've seen on Wall Street, then I predict there are gonna be a lot more strikes on the horizon."
Related: Why Ford will lose $150 million per week after latest UAW escalation
In the midst of this, Fain, according to records reviewed by Fox Business, is among the top earners in his home state. The union president earned $187,259 a year leading UAW training programs and $160,130 annually in his prior role as the UAW's administration assistant, pegging his full salary at around $347,389.
As the union's new president, Fain's current union salary has likely been hoisted above $200,000.
Union members actively on strike are paid $500 per week by the UAW in strike assistance.
The UAW did not immediately respond to a request for comment.
Fain's latest announcements comes days after the Mack Trucks Workers Rank-and-File Committee posted an open letter demanding an "all-out strike" immediately. The letter additionally requested an increase in strike assistance to $750.
"To assist in paying workers for this struggle, all unessential members of the UAW apparatus should be removed and the pay of all UAW officials, including yourself, should be reduced to the same level as strikers," the letter reads.
It is unclear if Fain and other UAW officials have taken pay cuts during the strike.
Roughly 34,000 workers, about 23% of the UAW's members, are actively striking the Detroit Three.
Shares of Ford began to slump Oct. 11, a trend that has continued through Oct. 13.
