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☆ GM earnings rise more than expected
▼ + stars: | 2024-04-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

But GM said it expects its North American EV business to turn a profit in the second half of the year. That and strong demand for traditional gasoline-powered vehicles allowed it to raise its earnings forecast for the year. But the company announced a $10 billion share repurchase last fall following its labor deal with the United Auto Workers union. The fewer number of shares outstanding allowed it to report improved earnings per share, which is closely watched by investors. That resulted in adjusted earnings per share of $2.62, up 18.6%, easily topping forecasts that EPS would slip to $2.13.

Persons: Motors Organizations: New, New York CNN —, American, GM, EVs, United Auto Workers, Revenue, Fleet Locations: New York

☆ The last thing Elon Musk wants right now is barrelling toward Tesla
▼ + stars: | 2024-04-20 | by ( Nora Naughton | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

The United Auto Workers union won a critical vote at a plant in Tenessee. The union's white whale is Tesla, workers of which have never been represented by a union. The warm-up for TeslaConquering the South is just a warm-up for the big event for the UAW: Organizing Tesla. Tesla has never held a union vote at any of its US facilities. Many Tesla workers already make more per hour than their unionized counterparts.

Persons: aren't, —, Shawn Fain, Fain, Tesla, Elon Musk, Elon Organizations: United Auto Workers, Service, UAW, National Labor Relations Board, Reuters, unionizing, Detroit, Volkswagen, Mercedes, Tesla, Organizing, New York Times Locations: Tenessee, Tennessee, Chattanooga, Detroit, Alabama, Sweden

☆ UAW says Volkswagen workers vote overwhelmingly to join union, giving it groundbreaking win
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

If the union can win the right to represent workers across the broad swath of the nonunion auto plants, it could increase their leverage in future contract negotiations. Most of the nonunion auto plants are spread across the south. It is also seeking to represent workers at three American automakers making electric vehicles – Tesla, Rivian and Lucid. Many of the nonunion automakers, including Volkswagen, gave their workers similar raises in the wake of the UAW contracts. And the UAW has had little success winning the right to represent nonunion auto workers since then, until Friday’s vote.

Persons: ”, Kelcey Smith, Bill Lee Organizations: New, New York CNN, United Auto Workers, National Labor Relations Board, UAW, Volkswagen, – General Motors, Ford, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, American, Mercedes, Tennessee Gov Locations: New York, Chattanooga , Tennessee, United States, Southern, Vance , Alabama, Tuscaloosa, Volkswagen’s Chattanooga, Alabama, Georgia , Mississippi, South Carolina, Texas, American, Pennsylvania

☆ UAW union vote at Volkswagen could have big implications for US auto industry and labor’s strength in South
▼ + stars: | 2024-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

A whole lot of people who were anti-union in the past have switched.”The union vote at the Volkswagen plant will mean more than whether the 4,300 hourly workers in Chattanooga are members of the UAW or not. But he said he wants the better pay and benefits he sees workers at unionized auto plants are getting, in order to provide more for his family. Volkswagen staying neutralThe company said it is neutral in the election, only urging workers to vote however they want. That’s relatively rare in union representation elections, where management often lobbies workers to vote no at mandatory meetings, and sometimes takes action against union organizers. Bill Lee and five other Southern governors – from Alabama, Georgia, Mississippi, South Carolina and Texas – who have nonunion auto plants in their states.

Persons: Renee Berry, ”, they’re, Darrell Belcher, it’s, Berry, ” Berry, Kelcey Smith, ” Smith, “, Belcher, he’s, Mercedes –, Tesla, Wheaton, Bill Lee, –, Joe Biden, Corey Linn, Biden, He’s, ’ ” Berry Organizations: New, New York CNN, Volkswagen, United Auto Workers, UAW, unionize, ” UAW, GM, Ford, VW, “, Mercedes – BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, Cornell University’s Industrial, Labor Relations, Tennessee Republican Gov, Southern, ”, don’t Locations: New York, Chattanooga , Tennessee, Chattanooga, Tennessee, Michigan, Pennsylvania, Mexico, Germany, United States, Tuscaloosa , Alabama, Alabama , Georgia , Mississippi, South Carolina, Texas

☆ Time’s 100 Most Influential People: Five icons you should know from the 2024 list
▼ + stars: | 2024-04-18 | by ( Leah Asmelash | ) edition.cnn.com time to read: +7 min

TIME released its list of the 100 Most Influential People for 2024 on Wednesday. The annual list, which asks cultural and political icons to highlight the changemakers of the past year, features dozens of athletes, entertainers, artists and politicians. Beninese music legend Angélique Kidjo wrote about Nigerian artist Burna Boy, who in turn wrote about rapper 21 Savage. Shawn Fain, UAW PresidentPresident Joe Biden wrote about Shawn Fain, president of the United Auto Workers, for TIME. Mohammed Abed/AFP/Getty ImagesAt just 25 years of age, Motaz Azaiza is the youngest person on this year’s TIME list.

Persons: Alex Rodriguez, Patrick Mahomes, Amy Poehler, Maya Rudolph, Raquel Willis, Elliot Page, Angélique Kidjo, Burna Boy, Taraji P, Henson, Coleman Domingo, Shawn Fain, Joe Biden, Tom Williams, ” Fain, Biden, “, —, Fain, ” Biden, Motaz Azaiza, Yasmeen Serhan, Mohammed Abed, Azaiza, Instagram, ” Serhan, CNN —, ” Azaiza, ” Jenni Hermoso, Jenni Hermoso, Mana Shim, Fran Santiago, Luis Rubiales, Hermoso’s, Rubiales, Hermoso, “ Hermoso, ” Shim, Sakshi Malik, Nisha Pahuja, Brij Bhushan Sharan Singh, Manish Rajput, Malik, Singh, ” Malik, Bhushan Sharan Singh’s, ”, Yulia Navalnaya, Russia’s, Alexei Navalny, Kamala Harris, Monika Skolimowska, Alexey Navalny, Putin, “ Putin, Navalnaya, “ Navalnaya, ” Harris Organizations: CNN, TIME, United Auto Workers, UAW, Toyota, Honda, Hyundai, Getty, “, UEFA Women's Nations League, UEFA, Spanish Women’s National Team, FIFA, Wrestling Federation of India, India Today, Delhi Locations: Dua Lipa, Gaza, AFP, Palestinian, Spanish, American, Indian, Rio ., Europe, Berlin, Paris, Hague, ”, Russian, Russia

☆ UAW reaches milestone in filing for a union vote at second nonunion auto plant
▼ + stars: | 2024-04-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

But while that VW plant has had two votes before this, the Mercedes plant has never reached the threshold of union support that resulted in an election being held. An election at the Mercedes plant has yet to be confirmed by the National Labor Relations Board, which oversees such votes, let alone scheduled. While the UAW has filed for a vote at Mercedes’ Alabama plant, it has yet to file for a vote at its plant in Charleston, South Carolina. A high-profile union organizing vote at an Amazon warehouse in nearby Bessemer, Alabama was defeated in a close vote in 2021. And management of the non-union automakers is likely to fight union organizing efforts.

Persons: Mercedes, ” Organizations: New, New York CNN, United Auto Workers, UAW, Volkswagen, VW, National Labor Relations Board, Benz, International, General Motors, Ford, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, GM Locations: New York, Alabama, Chattanooga , Tennessee, VW Chattanooga, Vance , Alabama, Tuscaloosa, Mexico, Edmunds, Tennessee, Mercedes ’ Alabama, Charleston , South Carolina, Bessemer , Alabama

☆ Lawsuit says Atlantic City casino workers are exposed to harmful secondhand smoke
▼ + stars: | 2024-04-05 | by ( Ramishah Maruf | Jeff Winter | ) edition.cnn.com time to read: +4 min

New York CNN —Smoky, hazy gambling floors have long been part of the Atlantic City casino experience for some people. Phil Murphy and the state’s health commissioner claiming that a loophole in state law exposes casino workers to health problems from secondhand smoke. Casino workers have long been advocating for protections under the 2006 smoke-free law, but progress has been snagged for years in the New Jersey legislature. But somehow, our casino workers have been asked to roll the dice,” UAW President Shawn Fain said at a press conference Friday. The casino workers have faced “death, severe physical illness, severe mental, physical and emotional distress, pain and suffering, anxiety, and stress,” the lawsuit said.

Persons: Phil Murphy, Murphy, Kaitlan Baston, New Jersey —, Shawn Fain, Matt Rourke, ”, smokin, Bill Organizations: New, New York CNN, Atlantic City, United Auto Workers, New Jersey Gov, Act, Workers, United Auto Workers union, Caesars, Tropicana, statehouse, New Jersey Health Department, New Jersey News, ’ Rights, Bally’s, CNN, Caesars Atlantic City, Caesars Entertainment Locations: New York, New Jersey, Bally’s, Trenton , NJ, City, Middletown , New Jersey, Atlantic, Pall

☆ What investors should know about the U.S. easing vehicle emissions rules
▼ + stars: | 2024-03-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024. The new Environmental Protection Agency rules released Wednesday aim to cut tailpipe emissions by 49% between model years 2027 and 2032. The EPA set a target for EVs to make up at least 35% of new vehicle sales by 2032. The EPA's new strategy for cutting tailpipe emissions doesn't focus only on EVs. The EPA's percentage targets for EV adoption are not mandates but expectations for how automakers could meet the emissions regulations.

Persons: Joe Biden, Saul Loeb, Biden, Emmanuel Rosner, Mary Barra, Ngan, John Bozzella, Stocks, Tesla, weren't, Chelsea Hodgkins, Martin Viecha, Chris Kapsch, Morgan Stanley, Adam Jonas Organizations: United Auto Workers, Marriott Marquis, Washington , D.C, AFP, Getty, DETROIT, Environmental Protection Agency, EPA, EV, Detroit Automotive, Wall Street, Detroit, General Motors, Ford Motor, Chrysler, capex, Deutsche Bank, Chevrolet Silverado, Huntington Place Convention, Afp, Alliance for Automotive Innovation, United Auto Workers union, UAW, Toyota, Public Citizen, Sierra Club, Democratic, GM, Ford Locations: Washington ,, Detroit , Michigan, U.S, Detroit, Michigan

☆ EPA issues new auto rules aimed at cutting carbon emissions, boosting electric vehicles and hybrids
▼ + stars: | 2024-03-20 | by ( ) www.cnbc.com time to read: +8 min

Kevin Lamarque | ReutersThe Biden administration announced new automobile emissions standards Wednesday that officials called the most ambitious plan ever to cut planet-warming emissions from passenger vehicles. The rules come as sales of electric vehicles, which are needed to meet the standards, have begun to slow. The agency is finalizing the rule as sales of clean vehicles, including plug-in hybrid and fully electric vehicles, hit record highs last year. At the same time, the Democratic president needs cooperation from the auto industry and political support from auto workers, a key political voting bloc. White House press secretary Karine Jean-Pierre said Tuesday that White House officials "don't have any concerns" about the final EPA rule.

Persons: Joe Biden, Kevin Lamarque, Michael Regan, Regan, Biden, Karine Jean, Pierre, ″, we're, Manish Bapna, Amanda Leland, Dan Becker, Donald Trump, Becker, Trump, Biden's Organizations: Detroit Auto, Reuters, Biden, Environmental Protection Agency, EPA, Democratic, United Auto Workers union, White, Natural Resources Defense, Environmental Defense Fund, Center for Biological Diversity Locations: America, Detroit , Michigan, EVs, Detroit, China

☆ Biden administration softens EV mileage rule in a win for automakers
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +6 min

The original Biden administration proposal would have lowered such "petroleum-equivalent fuel economy" ratings for EVs by 72% in 2027. The industry cheered the Energy Department announcement. Automakers, auto dealers and the UAW called the original EPA plan unrealistic. The National Resources Defense Council (NRDC) and Sierra Club had urged EV mileage rating reductions after the Energy Department left them unchanged for two decades. "The automakers' free ride is over," he said, adding that changes "will curtail automakers' use of phantom credits they used to keep selling gas-guzzlers."

Persons: Biden, Joe Biden's, Donald Trump, John Bozella, Tesla, Pete Huffman Organizations: Detroit, Biden, Department of Energy, Reuters, U.S, Republican, Energy Department, Ford, Alliance, Automotive, United Auto Workers, General Motors, Chrysler, Traffic, Environmental Protection Agency, EPA, Toyota, Honda, Hyundai, GM, Volkswagen, UAW, National Resources Defense Council, Sierra Club, Energy Locations: New York City, United States, Michigan, fleetwide, U.S, NRDC

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

The union has come close to representing workers at the VW plant in two previous elections. Some prominent Tennessee Republican politicians had urged workers to vote against the union during both campaigns. The year after the 2014 vote failed, 160 Chattanooga maintenance workers won a vote to form a smaller union, but Volkswagen refused to bargain. In November, VW gave workers an 11% pay raise at the plant, but the union says VW's pay still lags behind Detroit automakers. Top assembly plant workers in Chattanooga make $32.40 per hour, VW said.

Persons: —, we'll, Yolanda Peoples Organizations: DETROIT, United Auto Workers, Workers, National Labor Relations Board, UAW, Detroit automakers, Tesla, Nissan, Mercedes, Benz, Hyundai, Kia, Toyota, Honda, VW, NLRB, Volkswagen, Tennessee Republican, General Motors, Ford, Detroit Locations: Chattanooga , Tennessee, Chattanooga, Tennessee, Mercedes, Vance , Alabama, Tuscaloosa, Alabama

☆ Minnesota unions plan to wage simultaneous strikes
▼ + stars: | 2024-03-05 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Nearly 10,000 workers from a coalition of separate unions, working for a diverse group of employers, are planning a series of coordinated strikes in Minnesota this week and next. These kind of collective strikes are common and somewhat easier in Europe, where union membership is more widespread and unions can strike in support of other unions, even if their own contracts have expired. He’s gone on strike twice before, but those were both one-day strikes that he and the union knew would be over quickly. The fact that multiple unions plan to strike together in Minnesota is giving members more confidence, according to Jamie Gully, president of SEIU Healthcare Minnesota and Iowa. He said he hopes that if these negotiations prove successful, unions elsewhere in the country will use the same strategy.

Persons: Paul, ”, AJ Lange, Greg Nammacher, George Mullins, “, He’s, “ I’m, Mullins, Jamie Gully, Stellantis Organizations: New, New York CNN, Union, ’ International Union of North America, City, SEIU Local, Target, CNN, Labor Department, Bureau of Labor Statistics, Cornell University’s School of Industrial and Labor Relations, SEIU Healthcare, United Auto Workers, General Motors, Ford Locations: New York, Minnesota, St, Minneapolis, Europe, America, SEIU Healthcare Minnesota, Iowa

☆ Many workers believe pensions are key to achieving the American Dream. But getting those plans back isn't easy
▼ + stars: | 2024-03-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

watch nowMore than three-quarters of Americans, 77%, say the unavailability of pensions is making it harder to achieve the American Dream, according to a new report from the National Institute on Retirement Security. With the shift from pensions to 401(k)s, the responsibility for saving for retirement has transferred from employers to workers. "When not managed properly, defined benefit plans can end up like Ponzi schemes," Greszler said at Wednesday's Senate hearing. Neither Social Security nor multiemployer pensions can pay benefits as promised, she noted. To shore up Social Security, the average American household would have to pay at least $3,000 per year more in taxes, money that would better be invested in personal accounts, Greszler argued.

Persons: Rebecca Cook, Sara Schambers, Schambers, Teresa Ghilarducci, Ghilarducci, Rachel Greszler, Greszler, Sen, Bill Cassidy Organizations: United Auto Workers, Sterling Heights Assembly, Reuters, Ford, Washington , D.C, UAW, National Institute on Retirement Security, Pensions, Finance, Security, Workers, The New School for Social Research, The Heritage Foundation, Senate, Social Security Locations: Sterling Heights, Sterling Heights , Michigan, Washington ,, New

☆ How Hyundai Motor Group became the world's third-largest automaker
▼ + stars: | 2024-02-29 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

Hyundai Motor Group is the world's third-largest automaker in the world by volume — but it wasn't always so. The three auto brands in the automaker's stable — Hyundai, Kia and Genesis — are nipping at the heels of well-established competitors, and winning an ever-growing list of industry awards. Tesla still dominates the electric vehicle industry, but Hyundai Motor Group is the second best-selling EV manufacturer in the U.S."On the electrification side, Hyundai has done a really great job," said Sam Abuelsamid, principal research analyst at Guidehouse Insights. "I think Hyundai Motor Group isn't a car company," said Jose Munoz, the global president and chief operating officer at Hyundai. Watch the video to learn more about how Hyundai became the third-largest global automaker.

Persons: William Barnett, Tesla, Sam Abuelsamid, They've, Jose Munoz Organizations: Hyundai Motor, Hyundai, Kia, American, Stanford Graduate School of Business, Guidehouse, United Auto Workers Locations: America, U.S, Singapore

☆ Biden and Trump win Michigan primaries
▼ + stars: | 2024-02-27 | by ( Eric Bradner | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden and former President Donald Trump won their respective parties’ primaries in Michigan on Tuesday. “We demand President Biden to take action now – bring a permanent ceasefire,” said Layla Elabed, the campaign manager for the group. The Michigan primary was moved up near the front of the Democratic presidential nominating calendar this year. Biden defeated Trump in Michigan by about 150,000 votes four years later. After Democrats, who control the state Legislature and the governor’s office, moved the Michigan primary to February 27 despite the Republican opposition, the RNC and Michigan GOP came up with the hybrid model.

Persons: Joe Biden, Donald Trump, Biden, Trump’s, Nikki Haley’s, “, ”, Rashida Tlaib, Andy Levin, Vermont Sen, Bernie Sanders ’, Sanders, Layla Elabed, ” Biden, ” Elabed, It’s, Gretchen Whitmer, you’ve, Trump, —, Pete Hoekstra, Kristina Karamo, Hoekstra, CNN’s Arit John, Dianne Gallagher, Jeff Zeleny Organizations: CNN, Democratic, South Carolina Gov, Muslim, Michigan Rep, America, Trump, Michigan, White House, Biden, Israel, Michigan —, United Auto Workers, UAW, Michigan GOP, Michigan Republicans, Republican, Committee, RNC Locations: Michigan, Gaza, Vermont, Iowa, New Hampshire, Dearborn, United States, Palestinian American, — demoting Iowa, South Carolina, Nevada, Netherlands, Grand Rapids, Detroit

☆ What to watch for in the Michigan presidential primaries
▼ + stars: | 2024-02-27 | by ( Gregory Krieg | Eric Bradner | ) edition.cnn.com time to read: +10 min

“This is not an anti-Biden campaign,” Layla Elabed, a leader of the Listen to Michigan campaign, told CNN. Here’s what to watch for in Michigan:The first ballot test of Biden’s Israel strategyJust how committed are Michigan Democrats to Biden? Republicans opposed an earlier Michigan primary, and it violated Republican National Committee rules limiting which states can hold contests before March 1. After Democrats who control the legislature and the governor’s office moved the Michigan primary to February 27 despite GOP opposition, the RNC and Michigan GOP came up with the hybrid model. Tests for Biden, Trump in key stateThe drama within both the Democratic and Republican contests is playing out in one of the nation’s most important presidential swing states.

Persons: Joe Biden’s, Israel –, Health –, Israel, Biden, Donald Trump, Hillary Clinton, uncommitted, ” Layla Elabed, “, It’s, ”, Nikki Haley, Trump, –, Haley, Benjamin Netanyahu’s, Netanyahu, Abdullah Hammoud, Joe Biden, Franklin Delano Roosevelt, ” Hammoud, Biden –, ” Biden, Seth Meyers, “ We’re, it’s, —, Pete Hoekstra, Kristina Karamo, Hoekstra, Gretchen Whitmer Organizations: CNN, Hamas, Health, Biden, Republican, Trump, South Carolina Gov, Republicans ’, GOP, Michigan Democrats, Gaza’s Ministry of Health, United Nations, White, Dearborn, New York Times, ” Movement, ” CNN, Michigan Republican, Michigan, Republicans, Committee, RNC, Michigan GOP, Democratic, United Auto Workers, Black Locations: Michigan, Gaza, Dearborn, South Carolina, Israel, United States, Trump, — demoting Iowa, New Hampshire, Nevada, Grand Rapids, Detroit, Pennsylvania, Wisconsin

☆ A look into Michigan’s economic prospects as automotive jobs see a decline
▼ + stars: | 2024-02-27 | by ( Chris Isidore | Tami Luhby | ) edition.cnn.com time to read: +11 min

Jobs in the state’s auto plants, parts factories and corporate offices shrank by 35% since 1990, according to figures from the Bureau of Labor Statistics. And those jobs make up only 3.7% of the jobs in the state, roughly half what it was in 1990. Some of the auto jobs disappeared because of automation. “But it is still the cornerstone of the Southeast Michigan economy. The categories understate the importance.”But other segments of the Michigan economy now rival autos.

Persons: –, Stellantis, Jeff Kowalsky, Patrick Anderson, “ I’m, ” Anderson, Brian Peters, Peters, ” Peters, Anderson, Bill Pugliano, Gretchen Whitmer, Whitmer, there’s, ”, Monique Stanton, Stanton, ” Stanton, Matthew Hatcher, Donald Trump, Joe Biden Organizations: New, New York CNN, Republican, Democratic, Bureau of Labor Statistics, Motors, Ford, Fiat Chrysler —, GM, Fiat Chrysler, Getty, Anderson Economic Group, Michigan Center for Data, Michigan Health & Hospital Association, Health, Big, Chrysler, United Auto Workers, General Motors, North, Gov, Census, ICE, Michigan, Michigan League, Public, Missouri Economic Research, Information, Fox News, Democrats, Shoppers, Bloomberg, Washington Post, Monmouth University Locations: New York, Michigan, Mexico, Southern, Edmunds, Dearborn , Michigan, AFP, Southeast Michigan, Lansing , Michigan, North America, Marshall , Michigan, Florida, Texas, Illinois, California, Living, Somerset, Troy , Michigan

☆ Joe Biden wins Michigan Democratic primary, NBC projects
▼ + stars: | 2024-02-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

President Joe Biden has won the Michigan Democratic presidential primary, NBC News projects. The incumbent president's victory was widely anticipated in the key swing state due to an uncompetitive Democratic field and Biden's successful Michigan track record. In 2020, Biden also won the primary and general election in Michigan. Despite Biden's attempted rivals, his win in Michigan solidifies the going message that the Democratic primary is all but over. Before Michigan, Biden locked up a landslide victory in South Carolina's Democratic primary and before that, an unofficial win in New Hampshire via write-in votes.

Persons: Joe Biden, George Merrelli, Biden, Dean Phillips, Phillips, Biden's, Donald Trump Organizations: autoworkers, United Auto Workers, UAW, George, George Merrelli Technical Training, Michigan Democratic, NBC, Democratic, Democratic National Committee, Biden, Michigan, House Rep, Before Michigan, South Locations: Warren, Detroit, Michigan, U.S, Gaza, Biden's, Before, New Hampshire

☆ China, Xi Jinping Plan to Crush Elon Musk, Tesla, and the US EV Industry
▼ + stars: | 2024-02-25 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

If China EV Inc. were allowed to enter the US today or next year, the legacies would be gutted." The year Musk tittered at the idea of Chinese EVs overtaking Tesla, the country produced only 5,000 electric cars. It has more trade barrier protection from a China Auto Inc. onslaught, but it may not work forever. AdvertisementWe want to maintain an auto industry in the US — that's essential for jobs, national security, and for other sectors of the economy. Sure, Chinese EV makers are lean and mean, but they've never had to deal with international markets before.

Persons: Elon Musk, Warren Buffett, Le, haven't, carmakers, Jim Farley, Tesla, Xi, Andy Wong, Xi Jinping, Li Auto, BYD, Trump, Mary Lovely, Joe Biden's, Biden, it's, Lovely, they've Organizations: Tesla, Bloomberg TV, America's, GM, Ford, Sino, EV, China EV Inc, ascendance, Chery, US, Chinese Communist Party, CCP, Companies, SAIC, Energy Department, China Auto Inc, Peterson Institute, United Auto Workers, White, Auto Locations: Chinese, China, Beijing, Japan, Europe, North America, Brussels, Washington, Hungary, Mexico, Canada, America

DETROIT (AP) — The United Auto Workers union is threatening to go on strike next week at Ford Motor Co.'s largest and most profitable factory in a dispute over local contract language. The union said Friday that nearly 9,000 workers at the Kentucky Truck Plant in Louisville will strike on Feb. 23 if the local contract dispute is not resolved. If there's a strike, it would be the second time the union has walked out at the sprawling factory in the past year. In October, UAW workers shut down the plant during national contract negotiations that ended with large raises for employees. The union says that workers have been without a local contract for five months.

Persons: Jim Farley, Farley, Ford Organizations: DETROIT, United Auto Workers, Ford Motor Co, Kentucky, Plant, UAW, Ford, Lincoln, General Motors, U.S, Rivals General Motors Locations: Louisville, New York, U.S, Mexico

☆ Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called "Detroit Three" automakers hampered production in the group's North American profit epicenter. Adjusted operating income (AOI) came in at 10.2 billion euros ($10.96 billion) for the July to December period, down from 11.3 billion euros for the same period in 2022. Stellantis reported in late October that labor strikes by the United Auto Workers union, which ran for six weeks from Sept. 15 and also targeted General Motors and Ford Motor , cost the company $3.2 billion in revenue through October.

Persons: Kaleb Delfine, Bryan Broecker, Michael Gatto, James Triplett, Stellantis Organizations: United Auto Workers, Jeep, Global, Reuters, Stellantis, United Auto Workers union, Motors, Ford Motor Locations: Toledo , Ohio, American, Europe, North America

☆ A traditional automaker just turned a profit on EVs
▼ + stars: | 2024-02-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Electric vehicles are finally turning a profit for Stellantis, CEO Carlos Tavares said Thursday, and, in contrast to some rivals, it will not cut back on producing EVs. The announcement marks an important milestone for electric vehicles and for traditional automakers, which have struggled to make money on EVs even as demand has grown. Ford, the only company to break out results separately for electric and traditional vehicles, reported that it lost $4.7 billion in EVs last year, or more than $40,000 per vehicle. But he said that EVs, while profitable, are still not as profitable as traditional gas-powered vehicles. That includes profit sharing for about 38,000 United Auto Workers union members at an average of $13,860, down from $14,760 a year earlier.

Persons: Carlos Tavares, ”, Tesla, Traveras, Stellantis Organizations: New, New York CNN —, Fiat Chrysler, PSA Group, Ford, GM, General Motors, Jeep, Chrysler, Dodge, United Auto Workers, UAW Locations: New York, Detroit, EVs, Europe, Paris

☆ Delta paying $1.4 billion in profit sharing payments to employees
▼ + stars: | 2024-02-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Delta Air Lines is paying out $1.4 billion in profit sharing, more than double what it paid employees a year ago. The payout is up 146% from the profit sharing payment of a year earlier, and well above the $108 million for 2021. This is the second largest profit sharing payout by Delta, trailing only the record $1.6 billion it paid for 2019. But there are union contracts that include profit sharing payments, including the pilots at Delta, who get the same profit sharing formula as the nonunion employees, as well as some unionized employees at other airlines. The average profit sharing payment came to about $14,000 for Delta employees.

Organizations: New, New York CNN — Delta Air Lines, Delta, Association of, Management, Unions, United Auto Workers, General Motors, UAW, Ford Locations: New York

☆ Boeing Disaster Proves Americans Businesses Greedy Mentality Is Broken
▼ + stars: | 2024-02-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

They expose decades of American corporate philosophy gone awry. A good American company isn’t just a vehicle for financial returns; it is first and foremost an employer, a contributor to economic and/or technological innovation, and a source of US power. But it’s clear that what Boeing — and the entire American corporate body politic — needs is nothing short of a philosophical counterrevolution. Over these three decades of plenty for Boeing’s shareholders, the company’s staff was asked to penny-pinch. Boeing’s stock cratered, and France’s Airbus , a rival once colloquially known as “Scare Bus,” started to eat the American company’s lunch .

Persons: it’s, could’ve, William Lazonick, “, It’s, won’t, William McGee, T.A, Wilson, Frank Shrontz, Max, Peter Robison, —, ”, Dave Calhoun, we’ve, Scott Kirby, hasn’t, “ We’re, Lazonick, wasn’t, Milton Friedman, Michael Jensen, Jensen, nary, Jack Welch, Welch, Wall, ” Lazonick, We’ve, Mary Barra, ” McGee Organizations: Alaska Airlines, Boeing, Investments, University of Massachusetts, ”, NASA, Airbus, Alaska Airlines Max, Wall, United Airlines, Federal Aviation Administration, CNBC, Washington, University of Chicago, Electric, Wall Street, GE, Dow Jones, Securities and Exchange Commission, Reality Labs, Deutsche Bank, Business, General Motors, United Auto Workers, Companies, GM, & $ Locations: Washington, America

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