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☆ Musk's Boring Company screwed up a Las Vegas dig, causing a public transit system to shut down temporarily: report
▼ + stars: | 2024-04-13 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

Elon Musk's the Boring Company is in the process of expanding its tunnel system under Las Vegas. Fortune reported the company mistakenly exposed the base of pillars that support the Vegas monorail. The monorail was temporarily shut down and the company was issued violations, Fortune reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Boring Company opened a 1.7-mile tunnel project in 2021 to transport passengers beneath the Las Vegas Convention Center in Teslas.

Persons: Elon, Fortune, —, Elon Musk Organizations: Boring, Las Vegas, Service, Company, Elon, Vegas, Fortune, The Boring Company, Vegas Convention, Business Locations: Las, Las Vegas, Clark County, Teslas, Vegas

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Workers at Elon Musk's Boring Company have reportedly faced chemical burns from sludge while building tunnels
▼ + stars: | 2024-02-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Some workers at The Boring Company experienced injuries including chemical burns, Bloomberg reported. AdvertisementSome workers at The Boring Company have dealt with chemical burns and close-call accidents during the construction of the Las Vegas tunnel system, according to a recent report from Bloomberg. Bloomberg reported that OSHA fined The Boring Company $112,504 last fall after it found eight "serious" violations. A spokesperson from The Boring Company did not respond to requests for comment from Business Insider or Bloomberg. The Las Vegas tunnel is used to ferry people back and forth on Teslas from the Las Vegas Convention Center to other nearby attractions.

Persons: —, Musk Organizations: The Boring Company, Bloomberg, OSHA, Boring, Service, The, Company, Las, Conventions, Resorts, Occupational Safety, Health Administration, The Boring, Business, Las Vegas Convention, SpaceX Locations: Las Vegas, Hawthorne , California, Vegas

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ I went to Las Vegas for the first time. Here are 6 things that were worth it and one I'd skip next time.
▼ + stars: | 2023-11-30 | by ( Cheyenne M. Davis | ) www.businessinsider.com time to read: +1 min

Vegas is one of the best cities I've ever attended a convention in. There were great community vibes at the Vegas TwitchCon. Gabe Ginsberg/Getty ImagesA large chunk of my trip was spent attending TwitchCon Las Vegas at the Las Vegas Convention Center. Beyond this year's TwitchCon, the Las Vegas Convention Center hosts several events throughout the year, from tradeshows to concerts. The venue is also home to the Vegas Loop, where I rode in a Tesla to other parts of the center via the neon-lit tunnels.

Persons: Gabe Ginsberg, Twitch, Espe Symone, Nicki Mirage Organizations: Vegas, TwitchCon Las, Las Vegas Convention, Las Vegas Convention Center Locations: TwitchCon Las Vegas, tradeshows, Vegas

☆ US lawmakers seek probe of Chinese drone maker Autel Robotics
▼ + stars: | 2023-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

An Autel Robotics Dragonfish Pro drone, with an 18-mile range, is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. REUTERS/Steve Marcus/File Photo Acquire Licensing RightsWASHINGTON, Nov 30 (Reuters) - A bipartisan group of 11 U.S. House lawmakers on Thursday asked the Biden administration to investigate and potentially sanction Chinese drone maker Autel Robotics, citing national security concerns. The Pentagon said it would respond to the lawmakers' letter. Another signer of the letter, Republican Representative Elise Stefanik, said, "Autel drones made in Communist China present an unacceptable national security risk and should not be allowed to operate in America." Over 50% of drones sold in the United States are made by DJI, and they are the most popular drones in use by public safety agencies, Republican lawmakers said earlier this year.

Persons: Steve Marcus, Biden, Mike Gallagher, Raja Krishnamoorthi, Autel, Elise Stefanik, Gallagher, Krishnamoorthi, David Shepardson, Chris Reese, Mark Porter Organizations: Las Vegas Convention, REUTERS, Rights, House, Republican, Commerce , Defense, Treasury, Autel Robotics, Technology, Robotics, China's People’s Liberation Army, PLA, Pentagon, Commerce, Commerce Department, U.S . Interior Department, Thomson Locations: Las Vegas , Nevada, U.S, House China, Communist China, America, China, Xinjiang, Ukraine, The U.S, United States

☆ From Sin City to Sports Central: How Las Vegas is betting big on a lucrative industry
▼ + stars: | 2023-11-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But for many decades, the NFL and other leagues opposed having sport franchises in Las Vegas, most likely due to the city’s deeply rooted gambling industry. “Vegas fans tend to be sports fans, too, and sports have helped us expand the customer base that are willing to consider Las Vegas,” Hill said. And during the past two years, Las Vegas and other tourist-centric cities have benefitted from consumers’ post-pandemic splurges on experiences and travel versus goods. The Las Vegas Strip can be seen outside the lanai doors at Allegiant Stadium during a game on October 15, 2023, in Las Vegas, Nevada. Ethan Miller/Getty Images/FILEAs the pandemic wore on, construction continued on expanding the Las Vegas Convention Center as well as the Raiders’ Allegiant Stadium, among other projects.

Persons: ”, Andrew Woods, ” Woods, Woods, Roger Goodell —, ” Goodell, John Fisher, Steve Hill, ” Hill, Ethan Miller Organizations: Minneapolis CNN, Athletics, NCAA, NFL Pro Bowls, NBA, MLS, Center for Business, Economic Research, University of Nevada, Sunday’s, Las Vegas, Prix, UNLV’s Lee Business School, NFL, National Hockey League, Oakland Raiders, Major League Baseball, Oakland Athletics, Las Vegas Convention, Visitors Authority, UNLV, “ Entertainment Capital, Sports, Entertainment Capital, Las, Nevada Gaming Control, Getty, Las Vegas Convention Center, Raiders Locations: Minneapolis, Las Vegas, Vegas, Bellagio, Clark County , Nevada, Covid, United States, Las Vegas , Nevada

☆ Chipmaker NXP forecasts profit above estimates on resilient auto, industrial
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Steve Marcus/File Photo Acquire Licensing RightsNov 6 (Reuters) - Chipmaker NXP Semiconductors (NXPI.O) forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. NXP in September said automotive demand was "pretty good" across all its markets, including China, which contributes about 30% to the chipmaker's total revenue. However, NXP CEO Kurt Sievers said the company's communication infrastructure business performed "slightly below expectations" in the third quarter. The company forecast adjusted current quarter revenue in the range of $3.30 billion and $3.50 billion, compared to analysts' estimate of $3.43 billion, per LSEG data. Revenue in the third quarter was $3.43 billion, compared with estimates of $3.40 billion.

Persons: Steve Marcus, Kurt Sievers, NXP, Chavi Mehta, Krishna Chandra Organizations: Semiconductors, Electronics, Las Vegas Convention, REUTERS, Wall, NXP, Apple, Revenue, Nasdaq, Thomson Locations: Las Vegas , Nevada, U.S, China, Eindhoven, Netherlands, Bengaluru

A VinFast VF8 electric SUV is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. If fulfilled, Europe would become VinFast's biggest overseas market this year. The company had shipped about 2,100 EVs earlier this year to the United States. Should the EU probe conclude that punitive duties on China-made EVs are warranted, VinFast could find its cars are more competitively priced. VinFast, which is part of Vietnamese conglomerate Vingroup (VIC.HM), was formed in 2017 and began making EVs in 2021 after dropping its manufacturing of cars with internal combustion engines.

Persons: Steve Marcus, Thuy, Inovev, VinFast, Phuong Nguyen, Francesco Guarascio, Miral Organizations: Las Vegas Convention, REUTERS, Rights, Reuters, European Union, Nasdaq, EU, Thomson Locations: Las Vegas , Nevada, U.S, Rights HANOI, Europe, France, Germany, Netherlands, VinFast's, Vietnam, United States, Israel, China, Indonesia, India, East, Africa, Latin America

☆ Textron announces option to sell up to 1,500 Cessna Citation aircraft to NetJets
▼ + stars: | 2023-09-20 | by ( Mehr Bedi | ) www.reuters.com time to read: +1 min

A worker cleans a NetJets booth on the trade show floor, in preparation for the NBAA Business Aviation Convention & Exhibition at the Las Vegas Convention Center, in Las Vegas, Nevada, U.S., October 11, 2021. REUTERS/Steve Marcus Acquire Licensing RightsSept 20 (Reuters) - Textron Aviation (TXT.N) and NetJets on Wednesday signed an agreement which would give the private jet firm owned by Berkshire Hathaway an option to buy up to 1,500 additional Cessna Citation business jets over the next 15 years. The deal for Cessna Citation business jets, which are designed, produced and delivered by Textron, could be valued at approximately $30 billion, according to analysts at Jefferies. The deal extends NetJets' existing fleet agreement and includes options for an increasing number of aircraft each year, allowing it to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. Deliveries of the Citation Ascend are expected to begin in 2025 when the aircraft, currently under development, is expected to enter into service.

Persons: Steve Marcus, Berkshire Hathaway, Mehr Bedi, Shilpi Majumdar Organizations: NBAA Business Aviation Convention, Las Vegas Convention, REUTERS, Textron Aviation, Wednesday, Berkshire, Cessna Citation, Textron, Jefferies, Cessna, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ VinFast’s volatile stock has an easy, painful fix
▼ + stars: | 2023-08-30 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

On Tuesday the Vietnamese nascent electric-car maker’s shares capped a flighty first fortnight as a publicly traded company by tumbling 44%. Yet the unprofitable manufacturer still sports a racy $107 billion market capitalisation courtesy of the previous eightfold rocketing of its stock since its merger with a blank cheque company in mid-August. Even with the wild swings, the stock trades almost five times higher than what already looked like a punchy valuation when the merger was announced in May. Granted, VinFast might not be desperate for cash – parent Vingroup (VIC.HM) and Vuong injected $2.5 billion in April. Absent a rapid rise in car sales, though, VinFast’s zippy valuation is heading for more crashes anyway.

Persons: Steve Marcus, David Mansfield, Le Thi, –, Pham Nhat Vuong, Vuong, it’s, VinFast, Una Galani, Thomas Shum Organizations: VinFast Global, Las Vegas Convention, REUTERS, Rights MELBOURNE, Reuters, VinFast Auto, Finance, Vietnam’s, Ford, GM, Thomson Locations: Las Vegas , Nevada, U.S

☆ Is this a leaked video of Tesla's rumored futuristic self-driving passenger pod? You be the judge.
▼ + stars: | 2023-07-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A Las Vegas content creator shared a video that says shows a prototype vehicle from The Boring Company. The leaked video appears to show a steering wheel with Tesla's insignia. Courtesy of Jacob OrthOrth's video looks roughly similar to early renderings of autonomous pods that The Boring Company shared in 2018. Since 2018, Musk has had little to say about The Boring Company's people-mover, but the billionaire has been known to announce surprise products every once and while. Representatives for Tesla and The Boring Company did not respond to a request for comment ahead of publication.

Persons: Elon Musk, Jacob Orth, Orth, he's, Tesla, Jacob Orth Orth's, Musk Organizations: Boring Company, Twitter, Las Vegas Convention Center, YouTube, Elon Musk's EV, The Boring, Tesla Locations: Vegas, Hawthorne , California

☆ Peloton will offer safety guard for recalled Tread+ treadmill
▼ + stars: | 2023-05-18 | by ( Natasha Piñon | ) www.cnbc.com time to read: +2 min

Maggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada. Peloton said Thursday that it would release a rear safety guard for its Tread+ treadmill, working with the U.S. Consumer Product Safety Commission. The Tread+ treadmill has been at the heart of safety concerns surrounding Peloton in recent years. Sales for the treadmill have been halted since a young child died under a Tread+ treadmill in 2021. The safety guard will be offered free of charge to people who own a Tread+ treadmill, the company said in a release.

☆ Elon Musk's Tesla tunnels are a 'fake alternative' to solve traffic but if he made them for subways we'd all be better off, expert says
▼ + stars: | 2023-05-08 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +7 min

A journalist argues that Musk could use The Boring Company to make public transportation cheaper. This includes solving traffic by moving transportation underground through car tunnels or building a successful hyperloop. And Musk has often been explicit that traditional public transportation options, like subways, would not be a part of his vision. The Boring Company has also put its controversial hyperloop plans to the side. The Boring Company did not immediately respond to Insider's request for comment.

☆ In race for efficient EVs, Mercedes taps F1 team to keep up with Tesla
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +6 min

In this article MBG-FF Follow your favorite stocks CREATE FREE ACCOUNTLewis Hamilton of Great Britain drives the Mercedes AMG Petronas F1 Team W13 on race day during the 2023 Australian Grand Prix at Albert Park on April 2, 2023 in Melbourne. But Mercedes' F1 collaboration to build more efficient EVs faster is unprecedented because it embeds that racing mindset and technological expertise directly in product development. After decades of leadership in combustion-engine technology, legacy carmakers like Mercedes have lagged Tesla in electric vehicles. Mercedes' F1 team can help it get back in the race, said Steven Merkt, head of transportation solutions at TE Connectivity , a major autos supplier. Last year, Mercedes unveiled its EQXX concept car, a super-efficient EV capable of a range of more than 1,200 km (745 miles), which was jointly developed with the German premium carmaker's F1 team in England.

☆ Inside the Wild World of Celebrity Keynote Speakers: Drugs, Alcohol
▼ + stars: | 2023-04-23 | by ( David Kushner | ) www.businessinsider.com time to read: +31 min

"I never saw myself as a speaker, let alone a motivational speaker," Leonard tells me while his assistant irons his jeans. 'When I ramble," Hunter told me, "hit me in the leg!" Every plane had been grounded, including the one stuck on the tarmac with an increasingly inebriated Hunter Thompson trapped inside. But by far the most all-consuming task was booking gigs for Hunter Thompson. Just before a debate with G. Gordon Liddy at Brown University, Hunter demanded that Betsy Berg, whom I now worked alongside at GTN, score him some crystal meth.

☆ Inside Peloton's rapid rise and bitter fall — and its attempt at a comeback
▼ + stars: | 2023-02-19 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +9 min

"It felt like nothing could get in the way of all that," said a former engineer who attended the party. For this report, CNBC spoke with 16 current and former Peloton employees, the majority of whom declined to be identified because they are not permitted to speak publicly about the company. Foley, meanwhile, spoke briefly with CNBC by phone, saying that while Peloton's stock has fallen, the company has not. Peloton's stock price was slowly sliding down, and employees began to panic as they saw their paper wealth evaporate. By June 30, the end of Peloton's fiscal year, the company's full-year net loss ballooned to $2.83 billion.

☆ Infrastructure innovation derailed: How Facebook's failed plan to turn a century-old railway into a commuter bridge may serve as a warning for The Boring Company
▼ + stars: | 2023-01-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Elon Musk's tunnel infrastructure company has completed just one known project. While reporters and consumers immediately questioned whether Musk was serious about creating The Boring Company, early progress on its development silenced critics for several years. It's unclear whether The Boring Company will submit additional bids for tunnel projects in the future or complete the scheduled additions to the Vegas Loop. Despite its failed plan to materialize the Dumbarton Rail Bridge project, Facebook has continued massive infrastructure undertakings, largely in the form of submarine cable acquisition and development. Representatives for Facebook and The Boring Company did not immediately respond to Insider's requests for comment.

☆ The CEO of Elon Musk's Boring Company who reportedly slept at Twitter HQ with his wife and baby once owned a bar called 'Thomas Foolery'
▼ + stars: | 2022-12-24 | by ( Aaron Holmes | Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk's Boring Company aims to build a network of road tunnels under major cities. Davis reportedly slept at Twitter HQ with his wife and baby after Elon Musk sought his help. Musk also owns The Boring Company, which has built a reputation for offbeat stunts. Before working for Musk, Davis founded a frozen yogurt shop and a bar that accepts bitcoin, among other ventures. Boring Company has faced scrutiny, especially in Chicago and Las Vegas, where it aimed to build its first tunnels.

☆ Former senior execs say Elon Musk's Boring Company is struggling to retain staff amid culture of long working hours
▼ + stars: | 2022-11-29 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk's The Boring Company has struggled to retain employees, former execs told the WSJ. They said Boring Company staff have to work long hours and weekends, similar to Musk's other firms. Staff at The Boring Company are known to work long hours and weekends, the former executives said. Tesla and SpaceX workers have described grueling working conditions to meet Musk's company goals. The Boring Company didn't immediately respond to Insider's request for comment made outside of normal US operating hours.

☆ Stellantis looks to India for affordable EVs for Europe
▼ + stars: | 2022-11-24 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

NEW DELHI, Nov 24 (Reuters) - Fiat parent Stellantis (STLA.MI) has concluded it can't currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. "So far, Europe is unable to make affordable EVs. Stellantis is investing heavily in EVs and plans to produce dozens in the coming decade, but Tavares warned last month that affordable battery EVs were between five and six years away. The power that is best placed to leverage this opportunity is obviously India," Tavares said. The carmaker plans to launch its first EV in India - an electric model of its Citroen C3 compact car - early next year.

☆ Tesla heads to court to defend Elon Musk’s pay
▼ + stars: | 2022-11-14 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Tesla headed to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on Earth. Even in the rarified air of CEO pay, Musk’s compensation plan stood apart. The Tornetta complaint alleges that the board of directors that created Musk’s compensation plan lacked sufficient independence from him. “This is a huge package,” Hayn said of the compensation plan. Tesla leadershipHayn noted that Musk’s close relationships with the board members could be problematic for Tesla in the case.

☆ Elon Musk heads to court over Tesla pay that made him the world’s richest person
▼ + stars: | 2022-11-13 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Tesla and CEO Elon Musk will spend this week in court to defend the massive compensation package that helped make him the world’s richest man. The week-long trial in Delaware Court of Chancery will examine the 2018 compensation plan that the automaker’s board of directors created for Musk. Even in the rarified air of CEO pay, Musk’s compensation plan stood apart. The Tornetta complaint alleges that the board of directors that created Musk’s compensation plan lacked sufficient independence from him. “This is a huge package,” Hayn said of the compensation plan.

☆ The Fed's fight against inflation could cost the US 1.2 million jobs
▼ + stars: | 2022-09-23 | by ( Alicia Wallace | Cnn Business | ) edition.cnn.com time to read: +7 min

Assuming no change in the labor force, that would mean around 1.2 million more people will be unemployed. "And it's really, at this point, like telling the tide not to come in -- to expect the labor market to soften." As the unemployment rate rises, workers lose bargaining power for higher wages and households pull back on spending. Powell has said that prolonged and entrenched high inflation would be even worse than moderate increases in the unemployment rate. "If we want to set ourselves up, light the way to another period of a very strong labor market, we have got to get inflation behind us.

☆ Mexican union calls for U.S. probe into alleged labor abuses at Panasonic plant
▼ + stars: | 2022-04-18 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +4 min

"They were given a contract they didn't even know about," Moreno said of the Panasonic deal with rival union SIAMARM. The dispute at Panasonic grew out of a vote last year in which workers rejected their union contract. Labor authorities then scheduled a vote April 21-22 for workers to choose between two other unions vying to take over the contract - SNITIS and SIAMARM. However, SNITIS says Panasonic signed a contract with SIAMARM ahead of the April election and began to withhold union dues from worker paychecks. SIAMARM, part of one of Mexico's biggest labor groups, the Confederation of Mexican Workers (CTM), could not be reached for comment.

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