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☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to industrials to drugs
▼ + stars: | 2023-11-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +12 min

(Anthony) Jim Cramer: There were some China statistics that showed that the consumer was doing slightly better. (David) Jim Cramer: The roadblock is that the money is at the state level. (Narayan) Jim Cramer: " Own, don't trade" is about trying to keep us in a stock that otherwise we would trade out of. (Jim) Jim Cramer: First, I think we have to remember Ford actually has a lot of money on its balance sheet — a lot of cash. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Estee Lauder, Anthony, Jim Cramer, Wynn, It's, David, I'm, Narayan, it's, Steve Jobs, John, Tom Jorden, That's, Capex, Paul, Procter, Jim Farley, Jim, Ford, Shawn Fain, Farley, Donald, Larry Culp, He's, GEHC, Eli Lily, Louis, Lilly, Zepbound, We've, Alzheimer's, tirzepatide, hasn't, Edmundo, we've, haven't, Linde, Theresa, Jim Cramer Rob Kim Organizations: Investing Club, Club, Caterpillar, Amazon, Nvidia, Apple, Web Services, Natural Resources, Exxon, Procter, Gamble, United Auto Workers, GE Healthcare, Electric, GE, General, Merck, Drug Administration, Novo Nordisk, Linde, LIN, Trust, Barrick, CNBC Locations: China, reaccelerate, GEHC

☆ Auto strikes sink US manufacturing output in October
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

Manufacturing output fell 0.7% last month, the Federal Reserve said on Thursday. Excluding motor vehicles and parts, manufacturing production edged up 0.1%. Overall industrial production dropped 0.6% in October after edging up 0.1% in September. It is now eight-tenths of a percentage point below to its 1972–2022 average. The operating rate for the manufacturing sector slipped to 77.2% from 77.8% in the prior month and is one percentage point below its long-run average.

Persons: Rebecca Cook, Detroit's, Lucia Mutikani, Paul Simao Organizations: United Auto Workers, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, Rights, UAW, Federal Reserve, Reuters, General Motors, Ford, Chrysler, Utilities, Thomson Locations: Wayne , Michigan, U.S

☆ Largest Starbucks strike in history is planned for Thursday. It shows US labor unrest isn’t over yet
▼ + stars: | 2023-11-16 | by ( Chris Isidore | Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

But the union said the limited duration strike on a key promotion day for Starbucks is important in its efforts to win their first contract at the chain. The union, Starbucks Workers United, won its first representation vote at the company in December 2021, at a store in Buffalo, New York. But many of the stores on strike remained open in past strikes, because management replaced the unionized striking workers with workers from nearby non-union stores and managers. That’s possible because of the close proximity of many Starbucks stores to one another. The union earlier this fall filed an unfair labor practice charge with the NLRB over Starbucks’ refusal to bargain around promotion days.

Persons: haven’t, Moe Mills, Mills, “, ” Mills, ” Organizations: New, New York CNN, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, CNN, National Labor Relations Board, NLRB, Red, Kaiser Permanente, Los Angeles, Teamsters, UPS, Michigan, Boeing Locations: New York, Buffalo , New York, St, Louis , Missouri, Kaiser, Detroit, East Coast

The 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 RightsDETROIT, Nov 16 (Reuters) - General Motors' (GM.N) tentative labor deal with the United Auto Workers (UAW) union has clinched ratification, making its workers the first of those at the Detroit Three automakers to approve the agreement. The UAW's GM vote tracking site shows approval of the contract leading by a 55% to 45% margin with nearly 36,000 workers having cast votes out of about 46,000 UAW-represented GM workers. Currently, about 67% of Ford workers who have voted are in favor of the UAW deal, and about 66% of Stellantis workers have so far voted in favor, according to UAW figures. Ford voting is scheduled to finish on Friday, while Stellantis is set to close next Tuesday.

Persons: Rebecca Cook, Stellantis, Tesla, David Shepardson, Ben Klayman, Lisa Shumaker Organizations: General Motors, REUTERS, Rights DETROIT, United Auto Workers, UAW, Detroit Three, Ford, Chrysler, GM, Detroit, Thomson Locations: Detroit , Michigan, U.S, Arlington , Texas, Detroit, Fairfax , Kansas, Orion , Michigan, Michigan, Washington

The walkout comes on the coffee chain's Red Cup Day event, during which Starbucks hands out free red-colored, reusable, holiday-themed cups to customers on their coffee purchases. About a dozen workers picketed outside Starbucks' Astor Place outlet at the New York University's campus chanting "no contract, no coffee" and other rhymes. Red Cup day has typically been a major driver of store traffic, with Placer.ai data showing that visits to U.S. Starbucks stores on the day last year jumped 94% over the daily average for the full year. Mary Boca, 22, Astor Place, New York barista, said she wants to see higher pay and more staff at Starbucks. Last year, workers at more than 100 U.S. company-owned Starbucks locations had held a one-day strike on Red Cup day.

Persons: Lindsay DeDario, Mary Boca, , New York barista, Boca, Edwin Palma Solis, Granth, Shinjini Organizations: Mobile, REUTERS, Starbucks, Workers United, NYU, Workers, U.S ., Red, Thomson Locations: Hamburg, Buffalo , New York, U.S, United States, Astor, York, , New York, Bengaluru, Arriana, New York City

☆ Stocks making the biggest moves midday: Sonos, Cisco Systems, Alibaba, Walmart and more
▼ + stars: | 2023-11-16 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Cisco Systems — Shares dropped 11.3% after the company's earnings guidance for the current quarter came out below analyst estimates, driven by a slowdown in new product orders. Children's Place — Shares of Children's Place plunged 25.8% after retailer quarterly adjusted earnings of $3.22, trailing the FactSet consensus estimate of $3.49. Walmart — Shares dropped more than 7% after the big box retailer gave disappointing guidance . Walmart said it expects adjusted earnings per share of $6.40 to $6.48 for the year, slightly lower than analysts were anticipating. Advance Auto Parts — The auto parts retailer tumbled 4% after Bank of America downgraded the stock to underperform from neutral.

Persons: Patrick Spence, Macy's, Alibaba, Williams, Children's, Piper Sandler, John David Rainey, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Pia Singh Organizations: General Motors — General Motors, United Auto Workers, Sonoma, Cisco Systems —, Cisco, Alto Networks, Palo Alto Networks, billings, Walmart, CNBC, Bank of America, Citi Locations: U.S, Sonoma

☆ GM union workers ratify UAW deal following contentious vote
▼ + stars: | 2023-11-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors union workers ratified a record deal with the United Auto Workers after a contentious final few days of voting, according to results posted Thursday morning by the union. Ratification of the deal came under doubt Wednesday morning, after seven of GM's 11 U.S. assembly plants rejected the pact. But a swing in voting results in favor of the deal, specifically at a SUV plant in Texas, gave the agreement a much needed lifeline. According to the UAW's vote tracker, the deal was supported by roughly 54% of the more than 34,700 autoworkers at GM who voted. Results are still outstanding at two smaller GM facilities representing about 1,400 hourly workers, but wouldn't be enough to offset the roughly 2,500-vote margin.

Persons: they've Organizations: DETROIT, General Motors, United Auto Workers, Detroit, GM, UAW, Ford Motor, Chrysler Locations: Texas

☆ Subaru to raise US wages after UAW deals with Detroit Three -CEO
▼ + stars: | 2023-11-16 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

Atsushi Osaki, President and CEO at Subaru, speaks during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. REUTERS/David Swanson/File Photo Acquire Licensing RightsLOS ANGELES, Nov 16 (Reuters) - Subaru (7270.T) will raise the wages of its U.S. plant workers in light of recent labor deals reached by the Detroit Three automakers and United Auto Workers (UAW), the Japanese automaker's CEO, Atsushi Osaki, told Reuters on Thursday. Non-union automakers that have raised wages for their U.S. plant workers after the UAW deals include Japan's Toyota (7203.T) and Honda (7267.T), and South Korea's Hyundai (005380.KS). UAW President Shawn Fain has said "UAW" stands for "U are welcome" in response to the rising wages at the non-union plants. Reporting by Abhirup Roy in Los Angeles; Writing by Ben Klayman; Editing by Chris Reese, Andrea Ricci and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Atsushi Osaki, David Swanson, Osaki, Joe Biden, Shawn Fain, Abhirup Roy, Ben Klayman, Chris Reese, Andrea Ricci, William Mallard Organizations: Subaru, Los Angeles Auto, REUTERS, Detroit Three, United Auto Workers, UAW, Reuters, General Motors, Ford, Chrysler, Los, Detroit, Toyota, Honda, Hyundai, Thomson Locations: Los Angeles , California, U.S, Lafayette , Indiana, Los Angeles, South

The three contracts, if approved by 146,000 union members, would dramatically raise pay for autoworkers, with increases and cost-of-living adjustments that would translate into a 33% wage gain. Top assembly plant workers would earn roughly $42 per hour when the contracts expire in April of 2028. Several smaller facilities were still voting, many of them parts warehouses or component factories where workers got big pay raises and were expected to approve the contract. Full-time temporary workers liked the large raises they received and the chance to get top union pay, he said. In the deals with all three companies, longtime workers would get 25% general raises over the life of the contracts with 11% up front.

Persons: Keith Crowell, didn’t, ” Crowell, “, Shawn Fain, Joe Biden Organizations: DETROIT, United Auto Workers, General Motors, Big, GM, Ford, Dodge, Workers, Chrysler, UAW, Biden Locations: Stellantis, Lansing , Michigan, Arlington , Texas, Wentzville , Missouri, Lansing Delta Township , Michigan, Spring Hill , Tennessee, Arlington, Detroit

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco, California, U.S., September 26, 2018. In an email to staff seen by Reuters, Cruise CEO Kyle Vogt said the company will re-evaluate the employee equity program in light of the suspension, which "pushed out our commercialization and revenue generation timelines." The regulator said Cruise had not initially disclosed all video footage of an Oct. 2 accident where Cruise's car dragged a pedestrian in San Francisco. The unlisted Cruise unit last year introduced the equity program under which current and former employees can sell their vested equity to GM and other investors every quarter. Asked about the Thursday's email from Vogt, a Cruise spokesperson said, "GM and Cruise are working together on what competitive compensation packages at Cruise will look like going forward."

Persons: Heather Somerville, Kyle Vogt, Cruise, Sam Abuelsamid, Vogt, Hyunjoo Jin, Greg Bensinger, David Shepardson, Jonathan Oatis, Matthew Lewis, Daniel Wallis Organizations: General Motors Corp, REUTERS, General Motors, GM, Reuters, Cruise, California Department of Motor Vehicles, United Auto Workers, UAW, Thomson Locations: San Francisco , California, U.S, California, San Francisco, California , Arizona, Washington

☆ GM rank and file ratify labor deal, ending threat of a renewed strike
▼ + stars: | 2023-11-16 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +5 min

The final results from all the UAW members at GM were posted on the union’s Web site Thursday morning. If workers had rejected the deal, it could have brought about a resumption of the strikes at the company. Neither the union nor any of the companies had any immediate comment on the vote results, the final vote at GM, or preliminary votes at the other two automakers. Teamster members voted 86% in favor of that union’s deal with UPS in July. Others said that the union could achieve even better deals if members voted no.

Persons: Mack Truck, Mack Trucks, Shawn Fain, Fain Organizations: New, New York CNN, United Auto Workers, General Motors, UAW, GM, Ford, Jeep, Dodge, Chrysler, Teamster, UPS, Kaiser Permanente, Facebook Locations: New York, Arlington , Texas, Lansing Delta, Michigan

Circuit Court of Appeals threw out a 3-2 decision issued last year by the National Labor Relations Board, which had said Tesla couldn’t prohibit union attire. The court opinion noted that Tesla allowed workers to affix “any number or size” of pro-union stickers to company-issued clothing. “We may have concluded differently had Tesla prohibited union insignia," read the opinion issued Tuesday by a unanimous panel of three 5th Circuit judges. The opinion comes as the 5th Circuit prepares for arguments in another union-related matter involving Tesla, NLRB and the assembly plant in Fremont, California. But that order was vacated after the full 5th Circuit, currently with 16 full-time judges, voted to hear the matter.

Persons: Tesla, didn't, ”, Jerry Smith, Elon Musk, Musk, Smith, Ronald Reagan, Leslie Southwick, George W ., Stephen Higginson, Barack Obama Organizations: ORLEANS, United Auto Workers, U.S, Circuit, National Labor Relations Board, Associated Press, UAW, NLRB, Twitter Locations: California, Fremont , California

☆ GM's labor deal with UAW union on verge of ratification
▼ + stars: | 2023-11-15 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsNov 15 (Reuters) - General Motors' (GM.N) tentative labor deal with the United Auto Workers (UAW) union closed in on ratification as the votes were counted on Wednesday. This would mark the first ratification of a deal, which runs through April 2028, with one of the Detroit Three automakers. The Arlington plant, with about 5,000 UAW members, has the most of any GM plant. Only nine facilities are still listed without vote totals on the UAW vote tracker, including GM's Lockport, New York, components plant with about 1,200 members. Currently, about 66% of Ford workers who have voted are in favor of the UAW deal, and about 72% of Stellantis workers have so far voted in favor, according to UAW figures.

Persons: Rebecca Cook, Stellantis, Tesla, David Shepardson, Ben Klayman, Matthew Lewis Organizations: General Motors, REUTERS, United Auto Workers, UAW, Detroit, Detroit Three, Ford, GM's, GM, Thomson Locations: Detroit , Michigan, U.S, Arlington , Texas, Arlington, Fort Wayne , Indiana, , Missouri, GM's Lansing Grand, Lansing Delta, Detroit, Fairfax , Kansas, Orion , Michigan, Lockport , New York, Michigan, Washington

Service centers - facilities that play a crucial role in supplying manufacturing companies nearly finished steel products - had paused purchases ahead of the United Auto Workers (UAW) union's coordinated strike against the Detroit automakers. However, many of them were soon forced to place large orders as stocks ran low and operations resumed at the carmakers. Reuters Graphics Reuters GraphicsThe automotive segment makes up about 25% of the total U.S. sheet demand, with about 65% of that attributable to the Big Three Detroit automakers in any given year, CRU data showed. Nucor Corp (NUE.N) has raised HRC prices to $950/st while U.S. Steel (X.N) recently announced a $100/st price increase, without specifying a final rate. Meanwhile, automakers stare at higher costs for a key raw material if prices extend their upward trajectory for longer.

Persons: union's, Ryan McKinley, Morgan, Philip Gibbs, Gordon Lee Johnson, Ananta Agarwal, Nathan Gomes, Arpan Varghese, Sriraj Organizations: Detroit Three, CRU Group . Service, United Auto Workers, UAW, Detroit, CRU, Reuters Graphics Reuters, Big Three Detroit, Cleveland Cliffs, HRC, Nucor Corp, U.S . Steel, KeyBanc, GLJ Research, Thomson Locations: Bengaluru

☆ GM workers at big Texas plant approve UAW deal, boosting chances of passage
▼ + stars: | 2023-11-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The UAW's GM vote tracking site currently shows approval of the contract leading by a 52% to 48% margin with about 22,150 workers having cast votes out of about 46,000 UAW-represented GM workers. That total does not include Arlington, which has about 5,000 UAW members, the most of any GM plant. Workers at other GM plants have voted against the deal, including 60% of workers at its Fort Wayne, Indiana truck plant, 53% at its Wentzville, Missouri plant, and 58% of workers at GM's Lansing Grand River plant. Currently, about 66% of Ford workers that have voted are in favor of the UAW deal; about 79% of Stellantis workers have so far voted in favor, according to UAW figures.

Persons: Rebecca Cook, Shawn Fain, Tesla, David Shepardson Organizations: General Motors, REUTERS, United Auto Workers, Detroit automakers, UAW, GM, Ford, Detroit, GM's, Capitol, Thomson Locations: Detroit , Michigan, U.S, Arlington , Texas, Arlington, Fort Wayne , Indiana, , Missouri, GM's Lansing Grand, Lockport , New York, Michigan

☆ Several GM Factories Reject UAW Deal, Putting Pact on Shaky Ground
▼ + stars: | 2023-11-15 | by ( Nora Eckert | Mike Colias | ) www.wsj.com time to read: 1 min

United Auto Workers members and supporters on a Michigan picket line in September. Photo: Emily Elconin/Bloomberg NewsA majority of United Auto Workers members at several General Motors factories voted against a proposed labor agreement, jeopardizing a tentative contract that both union leaders and GM have called historic. About 68% of workers at GM’s factory in Spring Hill, Tenn., voted down the tentative deal, the union posted on its website Tuesday. A majority of workers at a GM plant in Flint, Mich., and an engine plant in suburban Detroit rejected it.

Persons: Emily Elconin, jeopardizing Organizations: United Auto Workers, Bloomberg, General Motors, GM Locations: Michigan, GM’s, Spring Hill, Tenn, Flint, Mich, Detroit

DETROIT (AP) — Voting on a tentative contract agreement between General Motors and the United Auto Workers union that ended a six-week strike against the company appears too close to call after the latest tallies at several GM factories were announced Wednesday. However a factory in Arlington, Texas, with about 5,000 workers voted more than 60% to approve the deal in tallies announced Wednesday. In most cases the vote tallies ranged from 55% to around 60% against the contract. But in Arlington, production workers voted 60.4% in favor and nearly 65% of skilled trades workers approved the deal, making the tally tight. The union's vote tracker shows that 79.7% voted in favor with many large factories yet to finish.

Persons: hasn't, General Motors, Tony Totty, ”, “ Organizations: DETROIT, General Motors, United Auto Workers, General, Local, GM, UAW, Detroit Locations: Arlington , Texas, Fort Wayne , Indiana, Wentzville , Missouri, Lansing Delta Township, Lansing Grand River, Michigan, Toledo , Ohio, Arlington, Ford, Toledo, Detroit

☆ GM-UAW deal in jeopardy as voting goes down to the wire
▼ + stars: | 2023-11-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

United Auto Workers (UAW) members strike at a General Motors assembly plant that builds the U.S. automaker's full-size sport utility vehicles, in another expansion of the strike in Arlington, Texas, October 24, 2023. DETROIT – Voting is going down to the wire on a tentative deal between the United Auto Workers and General Motors after roughly six weeks of labor strikes. A majority of UAW members at several major GM plants have voted against the pact, in most cases with a result of between 55% and 60% against. As of Wednesday morning, the UAW had not updated its vote tracker for GM to reflect several plants that voted against the deal. If the GM deal is voted down, UAW President Shawn Fain and other union leaders will need to decide how to proceed and secure a better deal for GM's union workers.

Persons: It's, Mack Trucks, Shawn Fain, Fain, Stellantis, Joe Biden Organizations: United Auto Workers, UAW, General Motors, DETROIT, Detroit automakers, Ford Motor, workforces, GM, Buick, Chevrolet, Workers, Fiat Chrysler, Ford, U.S Locations: Arlington , Texas, Michigan, Kansas, Kentucky, Missouri, Indiana

☆ Here’s a rapid-fire update on all 35 stocks in our portfolio, including a new industrial
▼ + stars: | 2023-11-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. In a diversified stock portfolio, Jim said there's always room for high-quality companies like P & G, which also has a track record of raising its dividend. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.

Persons: Jim Cramer's, Jim, Bausch, That's, Dupont De Nemours, Dupont, Danaher, Walt Disney, Estee Lauder, Locker, Vimal Kapur, we're, We've, we've, Linde, Eli Lilly, Eli, hasn't, Mark Zuckerberg, Meta's, Zuckerberg, Morgan Stanley, Morgan Stanley's, Ted Pick, James Gorman, he's, there's, Patience, Stanley Black, Decker, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Amazon Web Services, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Coterra Energy, Disney, Eaton Corp, Emerson, Ford, Union Auto Workers, GE Healthcare Technologies, General Electric, GE, Management, Google, YouTube, Honeywell International, Honeywell, Linde, LIN, Reality Labs, Microsoft, Nvidia, U.S, Oracle, Palo Alto Networks, Procter & Gamble, Starbucks, Constellation Brands, Corona, Modelo, Stanley, TJX, Wynn Resorts, WYNN, Trust Locations: China, India, Salesforce's, redeploy

Companies Tesla Inc FollowNov 15 (Reuters) - Tesla Inc (TSLA.O) did not violate U.S. labor law by prohibiting workers at its flagship Fremont, California, assembly plant from wearing pro-union t-shirts, a federal appeals court has ruled. The electric vehicle maker adopted its uniform policy in 2017 amid an organizing campaign by the United Auto Workers union (UAW). President Joe Biden said last week that he supported the union's efforts to organize workers at Tesla and Toyota. Tesla's "team wear" policy required employees to wear black shirts imprinted with the Tesla logo. A three-judge 5th Circuit panel in March had affirmed the labor board's decision.

Persons: Tesla, Joe Biden, Elon Musk, tweeting, Daniel Wiessner, Nick Zieminski Organizations: Tesla, Tesla Inc, Circuit, Appeals, National Labor Relations Board, NLRB, United Auto Workers union, UAW, U.S, Detroit Three, Toyota, Thomson Locations: Fremont , California, New Orleans, Albany , New York

☆ US retail sales dip; producer prices post biggest drop in 3-1/2 years
▼ + stars: | 2023-11-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Economists polled by Reuters had forecast retail sales would fall 0.3%. Excluding automobiles, gasoline, building materials and food services, retail sales rose 0.2% in October. Data for September was revised up to show these so-called core retail sales rising 0.7% instead of the previously reported 0.6%. Core retail sales correspond most closely with the consumer spending component of GDP. Goods prices rose 0.8% in September.

Persons: Bill Adams, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: Saks Fifth, REUTERS, WASHINGTON, Federal, Comerica Bank, Commerce, Data, Reuters, United Auto Workers, Treasury, Consumer, Labor Department's Bureau of Labor Statistics, Wednesday, PPI, Reuters Graphics, Fed, Thomson Locations: New York City, U.S, Dallas, Commerce Department's

☆ Here's why the UAW's record deals with GM, Ford and Stellantis aren't getting full support
▼ + stars: | 2023-11-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Workers at Chrysler-owner Stellantis are still in early voting but have so far largely backed the contract. GM's Spring Hill Assembly plant in Tennessee on Monday became the most recent major facility to vote against the contract, with 67.5% of UAW members rejecting it. Reasons behind the disapproval vary, according to industry experts and UAW members who spoke with CNBC. GM has had 52% of workers voting so far in support of ratification. He said these benefits remain a target for future bargaining when the tentative deals, if ratified, expire on April 30, 2028.

Persons: Jim Vondruska, they've, Stellantis, They're, There's, Shawn Fain, Brian Keller, Ford, Fain, we'd, Keller, Ray Curry, Timothy Orner, it's, Orner, China Jones, Wheaton Organizations: UAW, Getty, DETROIT, United Auto Workers, Detroit, Ford Motor, Motors, Workers, Chrysler, Ford, CNBC, GM, U.S, Louisville Assembly Plant, Worker Institute, Cornell University Locations: Chicago , Illinois, Hill, Tennessee, GM's Flint , Michigan, Kentucky, Stellantis, Toledo, China, Louisville

☆ Stellantis trimming nonunion staff in wake of labor deal
▼ + stars: | 2023-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Stellantis is offering buyouts to half of its salaried US staff in a cost cutting move. That comes to 6,400 of the 12,700 nonunion staff. “As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the company,” said the company’s statement. Stellantis has yet to put any pure EV cars for sale in the US market and has more to do to catch up. General Motors and Ford, which also just reached tentative labor deals with the UAW, both announced cuts to their salaried staff, with both layoffs and buyouts, in the months before the strike.

Persons: New York CNN —, ”, Stellantis Organizations: New, New York CNN, Jeep, Dodge, Chrysler, “, Stellantis, United Auto Workers, UAW, Tesla, General Motors, Ford Locations: New York

The UAW union secured historic raises for its 140,000 members after a six-week strike. Companies including Toyota and Honda are now rolling out raises of their own. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "They can point to 9% raises at Toyota and say 'look, we're already moving the needle, we can keep helping you.'"

Persons: —, Harry Katz, it's, There's, Katz, They've, Elon Musk, Shawn Fain, Wheaton Organizations: UAW, Tesla, Companies, Toyota, Honda, Service, Detroit, General Motors, Hyundai, Reuters, Cornell University Locations: Ford, Alabama, Georgia, Kentucky

☆ UAW workers at GM's Spring Hill plant vote against tentative deal
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

An independent contractor hauls vehicles made at the Spring Hill General Motors (GM) manufacturing plant as Union members picket General Motors (GM) in the midst of a tentative deal being reached with the United Auto Workers (UAW), which expanded its strike over the weekend to the General Motors (GM) engine plant in Spring Hill,... Acquire Licensing Rights Read moreNov 14 (Reuters) - Workers belonging to the United Auto Workers (UAW) union at General Motors' (GM.N) Spring Hill plant in Tennessee have voted against a proposed contract with the automaker, the union's vote tracker showed on Tuesday. The Spring Hill manufacturing plant employs 3,932 workers and makes the company's SUV models such as Cadillac XT5 and XT6. Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors (GM.N) and Ford Motor (F.N), after the first coordinated strike against Detroit's Big Three automakers. GM in October also pulled its full-year profit forecast due to the strike and postponed a $4 billion electric truck plant in Michigan. Reporting by Nathan Gomes in Bengaluru; Editing by Sriraj Kalluvila and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Stellantis, Tesla, Nathan Gomes, Sriraj Kalluvila Organizations: General Motors, United Auto Workers, UAW, Workers, Chrysler, Ford, Detroit's Big, GM, Thomson Locations: Spring Hill, Tennessee, XT6, Michigan, Bengaluru

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