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☆ There's no other company in aviation like ours, says AAR CEO John Holmes
▼ + stars: | 2024-04-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

There's no other company in aviation like ours, says AAR CEO John HolmesAAR Chair, President and CEO John Holmes joins 'Mad Money' host Jim Cramer to talk growth in new parts distribution, its acquisition of Triumph Group's support business and more.

Persons: John Holmes, Jim Cramer Organizations: Triumph

☆ The UAW’s deal to end the auto strike could be in trouble
▼ + stars: | 2023-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

The Ford vote in Kentucky showed 55% of the members at the Kentucky Truck plant voting against the deal. That plant went on strike with little notice on October 12, about three weeks into the strike that targeted specific plants at the company. Members at Ford’s nearby Louisville Assembly plant who belong to the same union local voted 53% in favor of the deal. A vote tracker on the UAW site shows that 65% of members at Ford who have voted so far approve of the deal. So far the vote at Stellantis has overwhelming support, with 82% of the members who have voted supporting the deal.

Persons: Mack Truck, Spokespeople, Shawn Fain, Fain, Stellantis Organizations: New, New York CNN, General Motors, Ford, GM, Kentucky, UAW, Flint, Facebook Locations: New York, Louisville , Kentucky, Flint , Michigan, Kentucky, Ford’s, Louisville, Dearborn Michigan, Stellantis, Marysville , Michigan, Detroit

☆ Canadian union Unifor begins strikes at all Stellantis facilities
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 30 (Reuters) - Canadian labor union Unifor said early on Monday it has commenced strikes at all Stellantis (STLAM.MI) facilities in the country, with more than 8,200 members staging a walkout after failing to reach a tentative agreement in labor contract talks. Chrysler-parent Stellantis said it was "extremely disappointed" with the strike action and would continue to bargain until an agreement is reached. The UAW and Stellantis reached a tentative agreement on a new labor contract on Saturday. Stellantis assembles some of its popular vehicles including the Dodge Charger, Challenger and the Chrysler Pacifica minivan in its Canadian plants.

Persons: David, Dee, Delgado, Unifor, Stellantis, Unifor's, Abinaya Vijayaraghavan, Jacqueline Wong, Edwina Gibbs Organizations: New York, REUTERS, Plant, Chrysler, United Auto Workers, UAW, Ford, General Motors, GM, Dodge, Chrysler Pacifica, Detroit, Thomson Locations: Manhattan , New York City, U.S, Brampton, Canada, United States, Bengaluru

GM said it was disappointed by the UAW strike at Spring Hill and that it still seeks "to reach an agreement as quickly as possible." Spring Hill Manufacturing, an assembly and propulsion plant, is the largest GM facility in North America with nearly 4,000 total employees. A lengthy Spring Hill strike could greatly increase the financial pain for GM, which said in a filing earlier this week that strike costs had risen to $400 million a week. Moments before employees walked out in Tennessee, the UAW said it reached a tentative labor agreement with Chrysler parent Stellantis (STLAM.MI). The UAW previously struck GM assembly plants in Missouri and Michigan as well as 18 parts distribution warehouses.

Persons: Rebecca Cook, Shawn Fain, Stellantis, ” Fain, David Shepardson, Joseph White, Cynthia Osterman Organizations: General Motors, REUTERS, United Auto Workers, UAW, GM, Ford, Manufacturing, Chrysler, Ford Motor, Thomson Locations: Detroit , Michigan, U.S, Spring Hill , Tennessee, Spring, North America, Fort Wayne , Indiana, Silao, Mexico, Bowling Green , Kentucky, Ramos Arizpe, Fairfax , Kansas, Arlington , Texas, Wentzville , Missouri, Tennessee, Missouri, Michigan

DETROIT (AP) — The United Auto Workers union has widened its strike against General Motors, the lone holdout among the three Detroit automakers, after reaching a tentative contract agreement with Jeep maker Stellantis. About 14,000 UAW workers had been on strike at two Stellantis assembly plants in Michigan and Ohio, and several parts distribution centers across the country. Workers also will get cost-of-living pay that would bring the raises to a compounded 33%, with top assembly plant workers making more than $42 per hour. Like the Ford contract, the Stellantis deal would run through April 30, 2028. Negotiations between the UAW and Stellantis had intensified Thursday, the day after the Ford deal was announced.

Persons: ”, Erik Gordon, Ford, Stellantis, Shawn Fain, ” “ Everybody’s, Larry Montgomery, John Rutherford, Spring Hill didn’t, Fain, “, ” Fain, Rich Boyer, Gordon, Bruce Baumhower, Baumhower, Jermaine Antwine, Bajak, John Raby, Corey Williams, Haleluya Organizations: DETROIT, United Auto Workers, General Motors, Detroit, UAW, GMC Acadia, Cadillac, University of Michigan, GM, Ford, ” UAW, Workers, Toyota, Tesla, Jeep, Hollywood Locations: Hill , Tennessee, North America, Texas , Michigan, Missouri, Tennessee, Belvidere , Illinois, Spring Hill, Stelantis, Michigan, Ohio, Stellantis, Belvidere, Trenton , Michigan, Toledo , Ohio, Sterling Heights , Michigan, Pontiac , Michigan, Boston, Charleston , West Virginia, Jersey City , New Jersey

☆ Cornel West’s Improvisational Run for President: ‘It’s Jazz All the Way Down’
▼ + stars: | 2023-10-27 | by ( Charles Homans | More About Charles Homans | ) www.nytimes.com time to read: +1 min

“Watch that truck!” he called out, holding up a United Auto Workers sign. A dump truck blew past, the spray from its wheels momentarily knocking Mr. West back on his feet and further soaking his already damp suit. But then President Biden announced that he, too, would be going to Michigan, a crucial swing state, on the same day. Still, Mr. West seemed determined to make the best of this Siberia of solidarity. “That’s it!” he shouted, fist raised, after the dump truck driver let out a low blast on his horn.

Persons: Cornel West, West, Biden Organizations: “, United Auto Workers, Michigan Locations: New York’s Rockland County, Michigan, Tappan , N.Y, Siberia

☆ What’s next for the auto strikes
▼ + stars: | 2023-10-26 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

But the strike at the company isn’t quite over, and there’s no immediate end in sight for the strikes at General Motors and Stellantis. And pay increases will be even greater for some workers who were being paid at a lower pay tier. Generally union members do not return to work when a tentative agreement is reached until after a ratification vote is concluded. The Mack Trucks deal also had double-digit pay hikes of 10% immediately and 20% over the four-year life of that contract. But it didn’t have the COLA or some of the other gains the union achieved in the deal at Ford.

Persons: “, Ford, Isaiah Goddard, He’s, ”, Chuck Browning, Shawn Fain, “ We’re, John Deere, Mack Trucks, Fain, John Lawler Organizations: New, New York CNN, Ford, General Motors, United Auto Workers, Chrysler, CNN, UAW, Stellantis, GM, Management, Fortune, EV Locations: New York, Ypsilanti , Michigan, Ford

☆ G.M. Profit Down 7% in Strike-Affected Quarter
▼ + stars: | 2023-10-24 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

said the strike had lowered its earnings before interest and taxes by about $200 million in the final weeks of the third quarter, and by about $600 million since the fourth quarter started on Oct. 1. The automaker also estimated that the strike could cost it $200 million a week going forward. gave the union a contract offer that included a 23 percent increase in wages over four years. wage from $32 an hour to more than $40. At that wage, an employee working 40 hours a week would earn about $84,000 a year, not including extra pay for overtime or profit-sharing bonuses, which have topped $10,000 in the past two years.

Persons: Motors, “, ’, Paul Jacobson, G.M Organizations: United Automobile Workers

New York CNN —The United Auto Workers union sent 6,800 Stellantis employees to the picket line Monday morning in a surprise, targeted strike at the company’s Ram truck facility. The Sterling Heights Assembly Plant is Stellantis’ “largest plant and biggest moneymaker,” UAW said in a statement Monday. The first was at Ford on October 11, when the UAW went on strike at that automaker’s largest plant, the Kentucky Truck Plant in Louisville. Expanding strikeThere are now more than 40,000 UAW members on strike as it enters its sixth week, with 14,600 on now on strike at Stellantis, joining the 16,600 on strike at Ford and 9,200 on strike at GM. But the union has stopped short of having all 145,000 members at the three companies all be on strike.

Persons: ”, Stellantis, Fain, Anderson Organizations: New, New York CNN, United Auto Workers, Sterling, Sterling Heights Assembly, ” UAW, Dodge, Chrysler, Ford, General Motors, UAW, Kentucky, Plant, Fiat Chrysler, European, PSA Group, “, ” CNN, GM, Big, Anderson Economic Locations: New York, Sterling Heights, Detroit, Sterling Heights , Michigan, United States, Mexico, Warren , Michigan, Sterling, Louisville, Stellantis, Ford, Europe

DETROIT (AP) — United Auto Workers union President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as movement was reported with General Motors. The union's strikes at targeted plants at each company began on Sept. 15 and are nearing the start of their sixth week. A person briefed on the talks says the union is exchanging offers with GM and will meet again Friday with the company. The strikes started with one assembly plant from each company after contracts expired at 11:59 p.m. Sept. 14. The union later added the parts warehouses, then one assembly plant each from Ford and GM.

Persons: Shawn Fain, Fain, they’re, Gerald Johnson, ” Johnson, Ford, Stellantis Organizations: DETROIT, United Auto Workers, General Motors, GM, UAW, Ford, Equipment Market Association, Los Angeles Auto Show, CES Locations: America, Louisville , Kentucky, Kentucky

☆ Autoworkers in Canada OK deal with GM
▼ + stars: | 2023-10-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

Members of Unifor, the Canadian union that represents 4,300 workers at GM, voted 80% in favor of the new deal, which gives them base-wage increases of nearly 20% during the life of the deal and improves their pensions. Had the GM rank and file of Unifor voted down the tentative deal, the union was prepared to immediately resume the strike. Unifor members in three Ontario cities went on strike at GM just after the deadline at 11:59 p.m. Monday. We did that.”“Nothing worthwhile is ever easy – and labor negotiations are no exception,” Marissa West, president and managing director of GM Canada, said in a statement. The two deals in Canada stand in contrast to the strike against the US operations of GM, Ford and Stellantis.

Persons: New York CNN —, Unifor, Mack Trucks, ”, Lana Payne, “, ” Marissa West, we’ve, ” Unifor, Shawn Fain Organizations: New, New York CNN, General Motors, Unifor, GM, Ford, United Auto Workers, GM Canada, Canada, North American, Jeep, Dodge, Chrysler, UAW Locations: New York, Canada, Ontario, “, Stellantis

☆ Canadian autoworkers union Unifor ratifies GM labor deal
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

The Canadian union, which represents about 4,300 workers at GM in these talks, said 80.5% of its members at facilities in Oshawa, St. Catharines and Woodstock voted in favor of the deal. The deal with GM followed the pattern set with Ford Motor (F.N), which settled with Unifor last month. In the United States, about 9,200 members of the United Auto Workers (UAW) union have affected two GM assembly plants and 18 parts distribution centers. GM also has furloughed about 2,300 U.S. workers due to the impact of the UAW strike. Unifor has used the "pattern bargaining" approach in its talks, reaching a deal first with Ford and then picking GM as the second bargaining target.

Persons: Claude Robitaille, Unifor, Shivansh Tiwary, Nathan Gomes, Mrinmay Dey, Ben Klayman, Matthew Lewis, Diane Craft, Sandra Maler Organizations: Chevrolet Silverado, General, REUTERS, General Motors, Canadian, GM, Woodstock, Ford Motor, United Auto Workers, UAW, Ford, Chrysler, Thomson Locations: Oshawa, Oshawa , Ontario, Canada, United States, St, Catharines, Ingersoll , Ontario, Bengaluru

[1/4] Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsOSHAWA, Ontario, Oct 10 (Reuters) - General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities. The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike.

Persons: Mark Blinch, Unifor, Lana Payne, Payne, we’re, Darrell Colley, Stellantis, Arlyn McAdorey, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis, David Gregorio Our Organizations: General Motors, REUTERS, Rights, Ford Motor, Workers, GM, Ford, United Auto Workers, UAW, Deutsche Bank, Chrysler, Unions, Thomson Locations: Oshawa, Rights OSHAWA, Ontario, U.S, United States, Oshawa , Ontario, Bengaluru, Washington

Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. Unifor said it would go on strike at GM's Oshawa assembly complex, St. Catharines powertrain plant and the Woodstock parts distribution center, all in Ontario. Members at the CAMI Assembly Plant in Ingersoll, Ontario, are not on strike because they are covered by a separate agreement. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. The UAW has struck two GM assembly plants in the United States and 18 parts distribution centers.

Persons: Mark Blinch, Unifor, Wells Fargo, Wells, Lana Payne, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis Organizations: General Motors, REUTERS, General, GM, St, Chevrolet, Chevrolet Silverado, GM North America, Ford Motor, Unifor, United Auto Workers, UAW, Deutsche Bank, Ford, Chrysler, Unions, Thomson Locations: Oshawa, Canada, U.S, St, Catharines, Woodstock, Ontario, St . Catharines, CAMI, Ingersoll , Ontario, United States, Bengaluru, Washington

The walkout by workers came after Canadian union Unifor said GM was "stubbornly refusing" to match the contract the labor union reached with Ford Motor (F.N), which offered wage increases of up to 25% in Canada. The walkout adds to the headache faced by the automaker in the U.S. where it is racking up millions of dollars in losses per week due to the United Auto Workers (UAW) strike that started Sept. 15. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike. At the Oshawa plant, workers build Chevrolet Silverado trucks, one of GM's most profitable models, while the plant's stamping operations supply various parts for GM North America.

Persons: Mark Blinch, Unifor, Lana Payne, Wells Fargo, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Jamie Freed, Arun Koyyur, Mark Potter Organizations: General Motors, REUTERS, General, Ford Motor, GM, Detroit Three, Unifor, United Auto Workers, UAW, Deutsche Bank, St, Chevrolet, Chevrolet Silverado, GM North America, Oshawa, Catharines, Ford, Chrysler, Thomson Locations: Oshawa, Canada, U.S, United States, St, Catharines, Woodstock, CAMI, Ingersoll , Ontario, St . Catharines, Bengaluru, Washington

Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. GM has lost 34,176 vehicles of production since the start of the UAW strike in September, according to an estimate by Deutsche Bank. At the Oshawa plant, workers build light- and heavy-duty Chevrolet Silverado trucks, one of GM's most profitable models, while the plant's stamping operations supply various parts for GM North America. Unifor has used the "pattern bargaining" approach in its talks, reaching a deal first with Ford and then expecting GM and Stellantis to match. Unifor represents about 18,000 workers at the Canadian facilities of Ford, GM and Chrysler parent Stellantis (STLAM.MI).

Persons: Mark Blinch, GM, Lana Payne, Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed, Arun Koyyur Organizations: General Motors, REUTERS, General, U.S, Ford Motor, GM, Detroit Three, Unifor, United Auto Workers, UAW, Deutsche Bank, St, Chevrolet, Chevrolet Silverado, GM North America, Ford, Chrysler, Unions, Thomson Locations: Oshawa, Canada, U.S, St, Catharines, Woodstock, CAMI, Ingersoll , Ontario, St . Catharines, Bengaluru

☆ Canadian autoworkers go on strike at GM plants
▼ + stars: | 2023-10-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

But the plants that are on strike could affect GM’s US operations, because its engines and transmissions are used in vehicles built here. GM already is dealing with a strike by the United Auto Workers union at two of its US assembly plants and a strike of 18 parts distribution centers across 20 states. The UAW is also on strike against plants at GM rivals Ford and Stellantis, which builds cars under the Jeep, Ram, Dodge and Chrysler names. GM had already disclosed that it lost $200 million in the first two weeks of the UAW strike, which began on September 15. The UAW remained on strike at the GM plants where its members had already walked out.

Persons: “, ” Unifor, Shawn Fain Organizations: New, New York CNN, General Motors, Ford, Silverado, GM’s, United Auto Workers, UAW, GM, Jeep, Dodge, Chrysler, EV Locations: New York, Canada, Oshawa , Ontario, St . Catharines , Ontario, GM’s CAMI, Ingersoll , Ontario, Flint , Michigan, Fort Wayne , Indiana

☆ General Motors reaches deal with Canadian autoworkers hours after union initiates strikes
▼ + stars: | 2023-10-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — General Motors has reached a tentative agreement for nearly 4,300 Canadian autoworkers after the union representing those workers called a national strike early Tuesday. Canadian union Unifor said Tuesday afternoon the "strike actions are on hold to allow the membership to vote on the tentative agreement." Unifor initiated a national strike after the sides failed to reach a deal by an 11:59 p.m. Monday deadline. The Canadian engine plant marked a major concern for the automaker, which also is facing U.S. strikes by the United Auto Workers union. Unifor said the tentative deal with GM follows a ratified agreement reached last month with Ford Motor.

Persons: Rob Nimigon, Unifor, Lana Payne Organizations: Chevrolet Silverado, General, DETROIT —, Motors, Chevrolet, General Motors, United Auto Workers, GM, Ford Motor, Ford Locations: Oshawa, Oshawa , Ontario, Canada, DETROIT, U.S

☆ Canadian union Unifor strikes at GM after contract talks fail
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

GM was disappointed about being unable to reach a deal at this time but will continue to negotiate with Unifor, the automaker said in a statement. Unifor represents about 18,000 workers at the Canadian facilities of the Detroit Three automakers, which also include Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). Unifor last month ratified a new three-year contract with Ford that offered wage increases of up to 25% to more than 5,600 workers at its Canadian facilities. Unifor said last week that GM was "resisting" a number of important elements of its agreement with Ford. The union had chosen the company as its second bargaining target of the Detroit Three automakers after Ford.

Persons: Mark Blinch, Unifor, Lana Payne, Mack Trucks, Jason Gale, ” Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed Organizations: General Motors, REUTERS, General, North, Unifor, Detroit Three, Ford, Chrysler, United Auto Workers, UAW, Volvo Group, Detroit, Thomson Locations: Oshawa, St, Catharines, Woodstock, United States, Canada, Ontario, Bengaluru

TORONTO (AP) — Auto workers walked off the job at three General Motors facilities in Canada early Tuesday after failing to reach agreement with the automaker. Their union, Unifor, represents more than 4,200 workers at the plants. They had warned they would begin a strike if no agreement was struck with GM by midnight local time. Workers at Ford of Canada ratified a new deal late last month that raises base hourly pay for production workers by almost 20% over three years. Unifor had earlier avoided going on strike against the Detroit automakers, unlike its U.S. counterpart, the United Auto Workers.

Persons: ”, Lana Payne, General Motors, ” Payne, ” Jennifer Wright, Payne, Unifor Organizations: TORONTO, — Auto, General, GM, Ford, General Motors Corp, Unifor, Oshawa Assembly, Operations, Catharines Propulsion Plant, Woodstock, Distribution, Workers, Canada, Detroit, ., United Auto Workers Locations: Canada, St, Catharines, Oshawa , Ontario, CAMI, Ingersoll , Ontario

☆ GM expands strike layoffs by nearly 200 workers
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 9 (Reuters) - General Motors (GM.N) on Monday said it was laying off nearly 200 additional workers due to the United Auto Workers strike, adding a sixth impacted plant. The Detroit automaker last week said about 2,100 workers had been impacted by the strike of two of its assembly plants in Missouri and Michigan and 18 parts distribution centers. GM on Monday said about 2,300 workers are now impacted, including 70 layoffs at its Lansing, Michigan, stamping plant and about 70 additional layoffs at a Toledo, Ohio, plant. GM said workers are not expected to return until the strike is resolved.

Persons: Rebecca Cook, David Shepardson, Mark Porter Organizations: General Motors, REUTERS, United Auto Workers, Detroit, GM, Thomson Locations: Detroit , Michigan, U.S, Missouri, Michigan, Lansing , Michigan, Toledo , Ohio

New York CNN —The United Auto Workers (UAW) says its members have voted to reject a tentative agreement with Mack Trucks and will go on strike Monday. Stephen Roy, president of Mack Trucks, was quoted by Reuters as saying he was “surprised and disappointed” that the union had chosen to strike. CNN has reached out to Mack Trucks for comment. Mack Trucks is one of the major US makers of heavy duty and medium duty trucks, with deliveries of 27,000 in 2022 and 16,000 for the first half of 2023. Rejecting dealsIt has become more common in recent years for rank-and-file union members to vote down tentative labor agreements reached by their union leadership.

Persons: Mack Trucks, “ I’m, Mack, Shawn Fain, Stephen Roy, ”, China’s Geely, Fain, Joe Biden, John Deere Organizations: New, New York CNN, United Auto Workers, UAW, Twitter, Reuters, International UAW, UAW Mack Truck Council, CNN, Sweden’s Volvo Group, Volvo, Big Three, —, Motors, Ford, Jeep, Dodge, Chrysler, FedEx, Mack, Cornell University School of Industrial and Labor Relations, Kaiser Permanente Locations: New York

☆ UAW says it scored a major concession from GM and will not expand its Big Three strike Friday
▼ + stars: | 2023-10-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

GM agreed to have the workers at its future EV battery plants be covered by the national labor agreement governing other UAW members at GM, Fain said, after the UAW threated an expansion of the strike to a GM plant in Arlington, Texas, that assembles the company’s full-sized SUVs. GM has in the past insisted that workers in battery facilities are not GM employees, since the plants are run by joint ventures it has with Asian battery companies. Then on September 29 the UAW declined to expand the strike against Stellantis, once again citing progress in talks, but added a strike against one assembly plant each at GM and Ford. The union has said all along it stood ready to expand the strike to increase pressure on the companies. Fain described the Arlington plant “GM’s biggest money maker.”“It was that threat that brought GM to the table,” he said.

Persons: Shawn Fain, Ford, Fain, ”, GM, ” Fain, “, we’re, “ It’s, “ We’ve, it’s, Cadillac Escalade Organizations: New, New York CNN — United Auto Workers, General Motors, GM, EVs, UAW, “, Workers, EV, Ford, Stellantis, Chevrolet, GMC Yukon, Cadillac Locations: New York, Arlington , Texas, Suburban, Arlington

UAW President Shawn Fain plans to update the union's 150,000 members at Ford, General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI) on Friday, a person briefed on the union's plans said. In addition to Ford, talks with Chrysler parent Stellantis (STLAM.MI) and other automakers and the UAW have been active in recent days, sources said. Ford Chief Financial Officer John Lawler said Friday the automaker's retirement offer would assure UAW workers could retire with $1 million in savings. The targeted strike against the Detroit Three automakers began on Sept. 15 and is now in its 20th day. Rival Ford Motor (F.N) secured a $4 billion line of credit in August, ahead of the Sept. 14 UAW contract expiration.

Persons: Rebecca Cook, Shawn Fain, Fain, Ford, Stellantis, John Lawler, Paul Jacobson, JP Morgan, Joe White, David Shepardson, Mark Porter, Nick Zieminski, Matthew Lewis, Anna Driver Organizations: General Motors, REUTERS, Rights, United Auto Workers, Ford, Detroit Three, Wednesday, UAW, Chrysler, Detroit automakers, GM, CNBC, Citibank, Chevrolet, GMC, GMC Yukon, Cadillac, Motor Equipment Manufacturers Association, Thomson Locations: Detroit , Michigan, U.S, Wentzville , Missouri, Kansas, Ohio, Indiana, Detroit

The strike cost at GM reflects 16 days in which production was stopped at one GM assembly plant, a mid-size pickup truck and van factory in Wentzville, Missouri. The UAW ordered a strike at a GM SUV assembly plant in Lansing, Michigan, on Sept. 29. Against that backdrop, GM said in a securities filing that it has locked in a new, $6-billion line of credit through October 2024. The additional liquidity will require GM to maintain at least $4 billion in global liquidity and $2 billion in U.S. liquidity. Rival Ford Motor (F.N) secured a new $4 billion line of credit in August.

Persons: Rebecca Cook, JP Morgan, Ford, Joe White, David Shepardson, Mark Porter, Nick Zieminski Organizations: General Motors, REUTERS, Rights, Wednesday, United Auto Workers, Detroit Three, GM, UAW, Citibank, Chevrolet, GMC, GMC Yukon, Cadillac, Ford, Thomson Locations: Detroit , Michigan, U.S, Wentzville , Missouri, Lansing , Michigan, Fairfax , Kansas, Kansas, Ohio, Indiana

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