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☆ The UAW won big against Detroit automakers. Unionizing Tesla and Toyota will be tougher
▼ + stars: | 2023-11-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

But the UAW’s ambitious plans to organize Tesla and other non-union automakers face steep odds. To grow, the UAW will need to gain a foothold at non-union automakers, which produce more than half of the cars assembled in the United States. Historically, UAW talks with the Detroit automakers have been closely watched by non-union automakers and suppliers. Anti-union companiesThe UAW will have to overcome weak protections for labor organizing in the United States and automakers’ aggressive tactics to defeat unions. It may be easier for UAW to organize Volkswagen and other European automakers like BMW and Mercedes-Benz than automakers from Asia, experts say.

Persons: Tesla, Shawn Fain, ”, Harry Katz, “, Thomas Kochan, Tesla's, Justin Sullivan, Bill Lee, Nikki Haley, Joe Biden, Kochan, ” Kochan, “ There’s, “ Fain, he’s, Harley Shaiken, Jesse Jackson, John J, Kim, Elon Musk, Musk, “ Tesla, ” Shaiken, Biden, Erica Smiley, Smiley, ‘ we’ve, won’t Organizations: New, New York CNN, United Auto Workers, Ford, General Motors, Jeep, Chrysler, Detroit automakers, UAW, American, Toyota, Hyundai, Honda, Volvo, Mercedes, BMW, Nissan, Volkswagen, Cornell University’s School of Industrial and Labor Relations, Labor, Companies, Employers, National Labor Relations Act, MIT Sloan School of Management, Getty, Workers, Benz, Tennessee Gov, Former South Carolina Gov, Environmental Defense Fund, Alabama, M University, Jackson State University, University of California, Berkley, Chicago Tribune, Tribune, Service, Tesla, National Labor Relations Board, Employees, Bloomberg, CNN, Biden Union, Union, Biden, Justice, Detroit Locations: New York, United States, California, Texas, Tesla's Fremont , California, Tennessee, Kentucky, Alabama, Volkswagen’s, Chattanooga, Michigan, Detroit, Chicago, Chattanooga , Tennessee, Asia, Europe, Tesla’s Fremont California, ”

☆ 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

☆ Current UAW demands could increase EV prices up to $5,000 — and 'torpedo' Ford and GM's business model, analyst says
▼ + stars: | 2023-09-27 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe current demands from the United Auto Workers union in their labor talks with Ford, GM, and Stellantis could make electric vehicles even more expensive, one analyst said. Ives, a prominent Tesla bull, has said that CEO Elon Musk is poised to come out the winner in the contentious Detroit labor talks. Workers can't be left behind," UAW President Shawn Fain told reporters Tuesday after President Biden's visit to a GM picket line. "We're not against a green economy, but we're against a green economy and the workers get left behind.

Persons: Dan Ives, —, Stellantis, Joe Biden, Ives, Elon Musk, Tesla, Ford, Jim Farley, Shawn Fain, Biden's, We're, It's Organizations: Ford, GM, Tesla, Service, United Auto Workers, Detroit, UAW, Musk's EV, Toyota, Honda, CNBC, Workers Locations: Detroit

☆ Strikes are often buying opportunities for GM shares, but this time could be different
▼ + stars: | 2023-09-19 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

GM, led by CEO Mary Barra, tends to be the U.S. automaker most affected by strikes, historically speaking. During past work stoppages, GM has experienced 94% of total lost worker days among the Big Three U.S. auto manufacturers, Barclays said. The trading pattern for GM shares during walkouts has been somewhat predictable. GM has so far followed this trend, with shares barely changed on the year, compared with a 15% gain for the S & P 500 . in the eventual agreement that create an amount in excess of this would likely negatively impact post-strike stock performance," Levy said.

Persons: Mary Barra, Dan Levy, Levy Organizations: Motors, Barclays, GM, Big, United Auto Workers, UAW Locations: U.S, walkouts

☆ The boss of the United Auto Workers union said Tesla workers are 'scraping to get by' so that 'greedy people like Elon Musk can build more rocket ships'
▼ + stars: | 2023-09-19 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

The United Auto Workers president Shawn Fain defended worker demands for a 40% pay increase. He appeared on CBS on Sunday saying a pay rise won't stop automakers from making "billions in profits." He also criticized Tesla CEO Elon Musk, calling him "greedy." "Most of these workers in those companies are scraping to get by so that greedy CEOs and greedy people like Elon Musk can build more rocket ships and shoot their self into outer space. AdvertisementAdvertisementIf the UAW wins on its demands for higher pay, the Detroit 3's hourly labor costs could more than double to $136 an hour, according to Wells Fargo estimates.

Persons: Shawn Fain, Tesla, Elon Musk, Elon, Stellantis —, Fain Organizations: United Auto Workers, CBS, Service, United Auto Workers union, Detroit, Ford, General Motors, UAW, Tesla, Toyota, Workers, GM Locations: Wall, Silicon, United States, Wells

☆ How an auto workers strike 87 years ago transformed America
▼ + stars: | 2023-09-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

The workers, members of the tiny United Automobile Workers union founded just a year prior, sought to improve brutal working conditions at mighty General Motors, the world’s largest manufacturer. The UAW’s sit-down strike across GM plants lasted 44 days. The 44-day strike birthed the United Auto Workers union. The UAW is calling its new strategy a “stand up strike,” a reference to the sit-down strike that started 87 years ago, and has launched targeted strikes at selected plants. The sit-down strike also prompted unionization and a wave of strikes in other industries.

Persons: Sheldon Dick, —, Shawn Fain, “ Shawn Fain, ”, Thomas Sugrue, GM foremen, Steven Greenhouse, Tom Watson, Frank Murphy, “, Joseph McCartin, Emily Elconin, Fain, McCartin Organizations: New, New York CNN, General Motors, Fisher, United Automobile Workers, GM, United Auto Workers, UAW, Detroit’s, Motors, Ford, New York University, American Labor, ” Strikers, Chevrolet, NY, Getty Images Police, Management, Flint police, Michigan Gov, National Guard, New York Times, Magazine, Chrysler, “ Auto, Georgetown University, Bloomberg, Getty, Unions, Current UAW Locations: New York, Flint , Michigan, America, Europe, Flint, Bettmann, Ford, Wayne , Michigan

☆ Thousands of UAW members go on strike at three key auto plants after deal deadline passes
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GMFSTLA Follow your favorite stocks CREATE FREE ACCOUNTMembers of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. For Ford, UAW President Shawn Fain said only workers in paint and final assembly will be on strike. About 12,700 workers – 5,800 at Stellantis, 3,600 at GM and 3,300 at Ford – will be on strike at the plants in total, the union said. The UAW represents about 146,000 workers across Ford, GM and Stellantis. Fain has referred to the union's plans as a "stand-up strike," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Michael Wayland, Shawn Fain, Fain, Joe Biden, Biden, Ford Organizations: United Auto Workers, CNBC DETROIT –, General Motors, Ford Motor, Ford, UAW, GM, Facebook, YouTube, Detroit automakers, Tesla, Toyota Locations: Detroit, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Stellantis, United States

☆ Ford’s former CEO has a stark warning for both the UAW and automakers
▼ + stars: | 2023-09-13 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

“The automakers can’t plead poverty,” Fields told CNN on Wednesday, noting the industry’s recent string of profitable years. [Automakers’] CEO pay went up 40%. “But I do think he’s quite misplaced in that if there’s a work stoppage… there will be lots of people hurt,” the former Ford CEO said. However, economists say a UAW strike is unlikely to cause a recession, though it would do damage to local economies and parts suppliers. You can’t fault them for trying to deal with inflation that is hurting their families,” the former Chrysler CEO said.

Persons: Mark Fields, ” Fields, “, ”, Jim Farley, Fields, CNN’s Vanessa Yurkevich, “ We’re, ” Farley, Shawn Fain, ’, ” Fain, Jake Tapper, Bob Nardelli, ” Nardelli, Goldman Sachs, “ It’s, Fain, Nardelli, Ron Gettelfinger, Ford, CNN’s Chris Isidore Organizations: New York CNN Business —, Detroit, Ford, GM, CNN, Chrysler, United Auto Workers, UAW, UPS, American Airlines, West Coast, TPG Capital, Anderson Economic Group, Big Locations: Mexico, Chihuahua

☆ ‘A spit in the face.’ Electric vehicle plans worry a Midwest auto town
▼ + stars: | 2023-09-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The first piece of steel for the Stellantis and Samsung joint venture EV battery plant is raised earlier this year. Many believe the company will decide to have other work done at the Kokomo plants, even if it no longer needs transmissions or engines. A fraction of auto plant payThe Kokomo battery plant is still more than a year away from starting production. The battery plant workers are likely to start at half that, Quirk said. Even the top wage will be nearly 30% below top wage at a UAW plant today, let alone what it could be in the upcoming contract.

Persons: “, ”, Gary Quirk, Quirk, epitomize, Stellantis —, Adam Nelson, Shawn Fain, Denny Butler, Chris Isidore, Todd Dunsmore, EVs, Philip Kline, Daniel Acker, Joe, Biden, Butler, —, Kline, ” Quirk, it’s, won’t, that’s, Dunsmore, “ I’ve Organizations: Indiana CNN, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Big, —, Motors, Ford, EV, Local, CNN Kokomo, Kokomo, EVs, Employees, Bloomberg, Getty, General Motors, GM, LG, Workers, aren’t Locations: Kokomo, Indiana, Kokomo , Indiana, Midwest, Indianapolis, South Bend, Stellantis, ”, —, Ohio, North America

☆ The 4 key reasons why the UAW could strike GM, Ford and Stellantis this week
▼ + stars: | 2023-09-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

He admits the union’s demands are “ambitious” but he insists they’re justified given the automakers’ strong profits in recent years. The automakers have balked at most of the union’s demands, according to the UAW. RaisesThe union demands an immediate 20% raise, and then four additional raises of 5% each. The UAW wants a return of traditional pension payment plans and retiree health care for all UAW members. GM put the cost of the six-week strike by the UAW in 2019 at $2.9 billion.

Persons: Shawn Fain, they’re, Fain, ”, Wheaton, It’s, Patrick Anderson, Anderson, ” Anderson, “, ” Wheaton, Cornell’s Wheaton, ’, What’s, Gavin Strassel, Walter Reuther Organizations: New, New York CNN, United Auto Workers, UAW, Ford, Jeep, Dodge, Chrysler, Cornell University’s, Industrial and Labor Relations, GM, Anderson Economic Group, Pensions, Workers, Big Three, Anderson Economic, Walter, Walter Reuther Library, Wayne State University, Hollywood Locations: New York, Buffalo, Michigan, Wheaton, Belvidere , Illinois, Stellantis, Ohio, Detroit

☆ One of the last Club names reports earnings after the bell. Here's where Jim Cramer is on the stock
▼ + stars: | 2023-09-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Marc Benioff, We'll, Meta, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Apple, Google, UAW, Meta, Wall Street, Nvidia, Microsoft, Oracle, Citi, Oracle Cloud Infrastructure, Deutsche Bank Locations: China, San Francisco

☆ New EV battery plant fuels labor tensions as UAW strike looms deadline
▼ + stars: | 2023-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Stellantis and Samsung SDI announced plans Monday for another EV battery plant joint venture to open in 2027. Four major EV battery plants have opened in recent years and 19 more are planned with Monday’s announcement, according to the UAW. An aerial view of the Stellantis and Samsung Battery Plant construction site in Kokomo, Indiana. Those talks will have to be focused on the wages and benefits for the current UAW members. By comparison, UAW members with top seniority at a Big Three factory get $32.32 an hour, plus an annual bonus and profit sharing.

Persons: New York CNN — Stellantis, Shawn Fain, Stellantis, BEV, Kent Nishimura, ”, it’s, Fain, He’s, “, ” Stellantis Organizations: New, New York CNN, Samsung SDI, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, General Motors, Ford, UAW, don’t, GM, Fiat Chrysler, PSA Group, Peugeot, Opel, Vauxhall, Samsung Battery, Los Angeles Times, Samsung, Big, LG, SK, CNN, ICE Locations: New York, United States, Europe, Kokomo , Indiana, Warren Ohio, Korean, Kokomo

☆ Auto industry braces for contentious contract talks as UAW formally kicks off bargaining
▼ + stars: | 2023-07-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.

Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, —, Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan

DETROIT, April 21 (Reuters) - United Auto Workers union President Shawn Fain said on Friday there is "no excuse" for Detroit's automakers to set up electric vehicle operations and ventures that are not unionized. Detroit automakers have set up several U.S. joint venture battery factories that are not covered by their current agreements with the UAW. Fain said workers at joint venture battery plants should earn higher wages than production workers at older Detroit Three factories. "I look forward to bring that work under the UAW," Fain said. The UAW president said workers displaced as factories dedicated to combustion vehicle technology lose work should have a right to get jobs at joint venture factories.

☆ How one GM auto plant's UAW union workforce is learning to make EVs
▼ + stars: | 2022-10-16 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

The Orion plant, in operation since 1983, was beginning to transition from making a variety of internal combustion engine (ICE) vehicles to EVs. "We started slowly introducing the Bolt on the assembly line," he said, a process that can take up to a year while working out the bugs. There's specialized training required for all the assembly workers on how to deal with those potentially dangerous connections in a safe manner, he said. In essence, "it takes more of an electrician than it does a mechanic" to assemble an EV, Brown said.. The recently upgraded center houses manufacturing laboratory facilities that simulate steps along the assembly line, including robotics and sheet metal fabrication.

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