DIRS.INFO The most relevant business & tech news

☆ Public spats, layoffs, and new offers: The UAW strike is heating up in week 3
▼ + stars: | 2023-10-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

GM, Ford, and some suppliers are resorting to layoffs. AdvertisementAdvertisementThe ripple effects of the UAW's unprecedented strike at Ford, GM, and Stellantis are getting wider as the work stoppages stretch through a third week. The UAW responded on X, formerly known as Twitter, saying that the CEO had not attended bargaining that week. The impact of lost production is also affecting suppliers now, with the vehicle-suppliers association MEMA reporting about a third of suppliers have issued layoffs due to the UAW strike. Fain is scheduled to address UAW members in a livestream Friday afternoon, a platform he's previously used to expand the strike when he's unhappy with the pace of negotiations.

Persons: Shawn Fain, —, Jim Farley, Mary Barra, Fain, Barra, Farley, Ford, axel, Stellantis, he's Organizations: Detroit, UAW, GM, Ford, Service Locations: Chicago, Lansing , Michigan, Detroit, Michigan, Parma , Ohio

DETROIT (AP) — The United Auto Workers union said Friday it will not expand its strikes against Detroit's three automakers after General Motors made a breakthrough concession on unionizing electric vehicle battery plants. He said GM made the change after the union threatened to strike at a plant in Arlington, Texas, that makes highly profitable large SUVs. Political Cartoons View All 1202 Images“Today, under the threat of a major financial hit, they leapfrogged the pack in terms of a just transition” from combustion engines to electric vehicles, he said. Battery plants are key to the union's survival as the auto industry makes a generational transition from internal combustion engines to vehicles that run on electricity. The automakers have resisted bringing battery plants into the national UAW contracts, contending the joint venture partners must be involved in the talks.

Persons: General Motors, Shawn Fain, Fain, GM's, “, we’re, ”, Marick, ” Masters, Ford, haven’t, Stellantis didn’t Organizations: DETROIT, United Auto Workers, Detroit's, General, GM, UAW, Wayne State University, “ GM, SK, Ford, nonunion Locations: Arlington , Texas, Korean, Detroit, South Korea, Lansing , Michigan, Chicago, nonunion U.S, Missouri , Ohio, Michigan

☆ Auto workers worry it takes less labor to build electric cars. Maybe not, some researchers say
▼ + stars: | 2023-10-06 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

It’s not that simple, though, and some researchers argue that the labor savings of electric vehicles have been greatly overstated. These were among several research reports that found little total difference in the labor hour requirements of EV manufacturing compared to gas-powered cars. Boston Consulting estimates that making battery cells takes up about 8% of the total labor to produce an entire automobile. That’s slightly higher than the percentage of labor needed to produce a gasoline engine, he said. Ford also expects to train 5,000 people to work at a joint-venture battery manufacturing facility currently under construction in Kentucky.

Persons: That’s, Turner Cotterman, Cotterman, ”, Erica Fuchs, Nathan Niese, Gerald Johnson, “, Fuchs, “ You’ve, ” Ford, Ford, that’s, Niese, They’ve Organizations: CNN, United Auto Workers, Carnegie Mellon University, McKinsey, Company, Carnegie Mellon, Boston Consulting, EV, General Motors, Battery, Toyota, BMW, Hyundai, UAW Locations: United States, Marshall , Michigan, Kentucky, Ohio, Boston

☆ You can't have a negotiation and not talk about competitive realities: Fmr. Ford CEO Mark Fields
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou can't have a negotiation and not talk about competitive realities: Fmr. Ford CEO Mark FieldsMark Fields, former Ford president and CEO, joins 'Squawk Box' to discuss the state of negotiations in the UAW strike, the financial impact on automakers and auto suppliers, and more.

Persons: Mark Fields Mark Fields Organizations: Ford, UAW

☆ Low weekly jobless claims, shrinking trade deficit boost US economic picture
▼ + stars: | 2023-10-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Trade balanceExports of goods and services increased 1.6% to $256.0 billion. Goods imports dropped 0.9% to $256.0 billion amid declines in imports of consumer and capital goods, potentially flagging softening domestic demand amid higher borrowing costs. Cell phones and other household goods accounted for the drop in consumer goods imports. The decrease in capital goods imports reflected declines in semiconductors and electric apparatus. Services imports increased $0.1 billion to $58.4 billion, supported by travel and other business services.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, nonfarm payrolls, Oscar Munoz, Goldman Sachs, Veronica Clark, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, Federal Reserve, Labor Department, Reuters, Employers, Institute for Supply Management, United Auto Workers, UAW, Ford, General Motors, Chrysler, Treasury, Challenger, Labor, Securities, Commerce Department, Goods, Services, Citigroup, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Ohio, California

☆ Hyundai and Kia are the latest to switch to Tesla EV charging
▼ + stars: | 2023-10-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

In 2025, Hyundai will begin providing adapters to owners of older Hyundai models with the Combined Charging System ports their EVs are currently built with. The three South Korean automakers are all part of Hyundai Motor Group, although Hyundai and Kia operate as separate companies in the United States. A major stepThis marks an especially significant development for the Tesla charging system. Counted together, Hyundai, Kia and Genesis would be the second-best-selling EV manufacturer in the United States after Tesla, according to figures from Kelley Blue Book. Having more automakers and charging companies using its standard has been seen as a win for Tesla.

Persons: Tesla, Kelley, Elon Musk Organizations: New, New York CNN, South, Kia, Hyundai, Ford, General Motors, Mercedes, Benz, Nissan, Honda, Hyundai Motor Group, Kona, Niro, Genesis, GM, EV, CCS, Tesla Locations: New York, United States

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsDETROIT, Oct 5 (Reuters) - General Motors (GM.N) said on Thursday it had made a counteroffer to the United Auto Workers (UAW) in a bid to end a strike by the union against the U.S. automaker. Separately, UAW President Shawn Fain plans an update on the status of the talks with the Detroit Three automakers at 2 p.m. EDT (1800 GMT) on Friday in the three-week-old strike. The first-ever targeted strike against the Detroit Three automakers, including Ford (F.N) and Stellantis (STLAM.MI), began on Sept. 15. The UAW said on Monday it presented a new contract offer to GM. In addition to Ford, talks with Chrysler parent Stellantis and have been active in recent days, sources said.

Persons: Rebecca Cook, Shawn Fain, Fain, Ford, Stellantis, Mack Trucks, David Shepardson, Ben Klayman, Joseph White, Chizu Nomiyama, Matthew Lewis Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, U.S . automaker, Detroit Three, Ford, GM, Reuters, Chrysler, Detroit automakers, Wednesday, Volvo Group, Thomson Locations: Detroit , Michigan, U.S, Detroit

☆ The price of steel is falling as the UAW strike hits demand
▼ + stars: | 2023-10-05 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The UAW strike's ripple effects is decreasing the demand for steel, the Journal reported. The strike has cut production of 6,030 vehicles a day that used 5,982 tons of steel, S&P estimates. AdvertisementAdvertisementThe UAW strike is hitting more than just car production and distribution. AdvertisementAdvertisementAccording to the American Iron and Steel Institute, steel currently makes up about 54% of the material that goes into making the average vehicle. But with workers on strike are 43 facilities across the country, that's bound to slow demand for steel.

Persons: —, Ford Organizations: UAW, Service, Big Three, Anderson Economic, Wall Street, American Steel, Iron and Steel Institute, General Motors

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

☆ Timeline of Racial Wealth Gap
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +8 min

Policies and practices that have disadvantaged Black Americans generation after generation help explain the racial wealth gap. Black veterans find it much harder to obtain benefits; one study finds Black claimants were twice as likely to have their applications queried. 1877Southern states begin enacting “Jim Crow” laws, which formalize racial segregation. The laws restrict civil liberties and limit job opportunities for Black people as employers relegate Black workers to lower-skilled roles. 1896The U.S. Supreme Court rules in Plessy v Ferguson that racial segregation is permissible.

Persons: Black, vagrancy, Union General William Tecumseh Sherman, Andrew Johnson, Jim Crow, Ferguson, Henry Ford, Woodrow Wilson, Smith, Bankhead Organizations: Civil, Union, Bureau, American Medical Association, Prudential, Companies, Black, American Federation of Labor, U.S, Supreme, Plessy, U.S . Department of Agriculture, U.S . Constitution, National Association of Real, Owners Loan Corporation, U.S . Commission, Housing Administration, Federal Housing Administration Locations: U.S, Southern, Black, Louisville , Kentucky, U.S ., Tulsa , Oklahoma, Los Angeles, Chicago, Levittown, New York’s

☆ Auto companies could sacrifice stock buybacks to help pay for union demands, analyst says
▼ + stars: | 2023-10-03 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

Auto companies could forgo stock buybacks to pay for the costly union demands, an analyst said. Strikers have pointed out the billions of dollars companies have poured towards buybacks and dividends. Some investors have expressed willingness to sacrifice stock repurchases. Some investors seem ready to sacrifice stock buybacks. "That translates to a couple billion dollars per week of sales, $2 [billion] to $3 billion dollars, potentially.

Persons: —, Ford, Edward Jones, Jeff Windau, Brian Mulberry, Patrick Kaser, Stellantis, Patrick Anderson Organizations: Auto, Strikers, Service, Big Three, SEC, GM, Bloomberg, Stock, UAW, Zacks Investment Management, Ford, Brandywine Global, General Motors, Anderson Economic Group, Anderson Economic Locations: buybacks

☆ GM, Ford furlough another 500 workers due to UAW strike
▼ + stars: | 2023-10-02 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 2 (Reuters) - General Motors (GM.N) and Ford Motor (F.N) on Monday said they are laying off another 500 workers at four Midwestern plants because of the impact on some of the facilities of the United Auto Workers strike in its 18th day. Ford said last month it temporarily laid off about 600 workers at a Michigan auto plant because of the strike. UAW President Shawn Fain on Friday expanded the first-ever simultaneous strike against the Detroit Three to a GM Lansing, Michigan plant and a Ford Chicago assembly plant, but Stellantis was spared after last-minute concessions. The GM and Ford CEOs on Friday blasted the UAW, hours after the union escalated the strike.

Persons: Rebecca Cook, Ford, GM's, Stellantis, Shawn Fain, Mack Trucks, David Shepardson, Bernadette Baum, David Gregorio, Bill Berkrot Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, General Motors, Ford, GM, Chrysler, Ohio Metal Center, Marion , Indiana Metal Center, Buick Enclave, Chevrolet Traverse, Detroit, Volvo, JPMorgan, Anderson Economic Group, Thomson Locations: Delta Township, Michigan, Chicago, Lima , Ohio, Parma, Marion ,, GM's Lansing Delta, GM's Missouri, Fairfax , Kansas, Ohio, Indiana, Lansing , Michigan, Ford Chicago

☆ US expands, upgrades probe into 708,000 Ford SUVs, trucks over engine failures
▼ + stars: | 2023-10-02 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )WASHINGTON (Reuters) -The National Highway Traffic Safety Administration (NHTSA) said on Monday it was upgrading and expanding its investigation into 708,000 Ford Motor sport utility vehicles and trucks over catastrophic engine failures tied to a faulty valve. The investigation covers 2021 and 2022 model year Ford Bronco, Edge, Explorer, and F-150 and Lincoln Aviator and Nautilus vehicles. A Ford spokeswoman said the automaker was working with NHTSA to support their investigation. NHTSA said it had reports of 328 customer complaints and 487 warranty claims relating to the vehicles under investigation. Ford added it believed “defective intake valves commonly fail early in a vehicle’s life and has suggested that the majority of failures have already occurred.”

Persons: Ford, Ford “, ” Ford, ” Organizations: Traffic Safety Administration, Ford Motor, Ford Bronco, Lincoln Aviator, Nautilus, NHTSA, Ford Locations: WASHINGTON

☆ These are the top 4 Club stocks — and the bottom 4 — during the third quarter
▼ + stars: | 2023-09-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +11 min

Here's a look at the top four and bottom four Club stocks in the third quarter as Wall Street gears up for the first trading day of the fourth quarter on Monday. The winners LLY mountain 2023-06-30 Eli Lilly's stock performance in the third quarter. CAT mountain 2023-06-30 Caterpillar's stock performance in the third quarter. F mountain 2023-06-30 Ford Motor's stock performance since the end of the second quarter. In the first few weeks of the quarter, shares of the medical equipment giant actually edged higher, but its fortunes would turn significantly.

Persons: —, Eli Lilly, Eli Lilly's, Lilly, Wegovy —, Microsoft's, Locker, Mary, Jim Cramer, Dillon, Estee Lauder, we're, Fabrizio Freda, Stellantis, Ford, Jim, we've, there's, Foot Locker, GE Healthcare's, Jim Cramer's, Frederick Florin Organizations: Federal Reserve, Dow Jones, Nasdaq, Dow, Novo Nordisk, Investors, Caterpillar, Natural Resources, West Texas, Google, Microsoft, FL, Ford, United Auto Workers, UAW, General Motors, Detroit, GM, GE, GE Healthcare, CNBC, AFP, Getty Locations: U.S, WTI, Asia, Illinois, Estee Lauder, GOOGL, Fegersheim, France

"Despite our willingness to bargain Ford and GM have refused to make meaningful progress," Fain said in a video address Friday morning. It began on Sept. 15, when workers struck at one plant each from GM, Ford and Stellantis. The UAW did not strike at Ford distribution facilities last week, citing progress in talks with that company. Analysts estimate GM, Ford and Stellantis earn as much as $15,000 per vehicle on each of their respective large pickup truck models. The Ford assembly plant in Chicago builds the Ford Explorer and Lincoln Aviator SUVs, while the GM plant in Lansing makes the Chevy Traverse and Buick Enclave SUVs.

Persons: Shawn Fain, GM's, Fain, Stellantis, Friday Fain, Arthur Wheaton, Silverados, Sam Fiorani, Joe Biden, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Peter Henderson, Nick Zieminski Organizations: DETROIT, United Auto Workers, General Motors, Ford, Chrysler, Detroit Three, GM, UAW, Detroit, Cornell's School of Industrial and Labor Relations, U.S, Workers, Stellantis, Strikers, AutoForecast Solutions, Ford Explorer, Lincoln Aviator, Traverse, Buick, Reuters, Thomson Locations: Chicago, GM's Lansing , Michigan, Stellantis, Marshall , Michigan, Milan, Detroit, Lansing

Underwood Archives/Getty Images Feinstein gets her makeup touched up for a photo shoot in San Francisco in 1955. Bettmann Archive/Getty Images Feinstein attends a campaign event for her mayoral run in San Francisco in 1971. Clem Albers/San Francisco Chronicle/Getty Images Feinstein attends a memorial service for assassinated Supervisor Harvey Milk in San Francisco in 1978. Roger Ressmeyer/CORBIS/VCG/Getty Images Feinstein speaks at the signing of an anti-gun bill at San Francisco City Hall in 1982. Douglas Graham/CQ Roll Call/Getty Images Feinstein greets first lady Hillary Clinton at the 2000 Democratic National Convention in Los Angeles.

Persons: Washington CNN — Dianne Feinstein, Feinstein, Gavin Newsom, Newsom, NBC’s “, ”, Feinstein’s, Ramsay Hunt, I’m, “, ” Feinstein, Lindsey Graham, Amy Coney Barrett, Leah Millis, Nancy Pelosi, Democratic Sen, Dick Durbin, Kevin McCarthy, Chuck Schumer, “ Dianne Feinstein, ” Schumer, Sen, Dianne Feinstein, Joe Biden, Celeste Sloman, Dianne Emiel Goldman, George Moscone, Harvey Milk, Duke Downey, Clem Albers, Janet Fries, Quentin Kopp, Sal Veder, Richard Blum, Walter Mondale, Georges, Roger Ressmeyer, Steve Ringman, Tony Bennett, Jeff Reinking, Neal Ulevich, Bishop Desmond Tutu, Eric Risberg, Willie Brown, Cecil Williams, Dr, Martin Luther King Jr, Paul Sakuma, Kim Komenich, Mark Reinstein, Barbara Boxer, Alan Greth, Ruth Bader Ginsburg, Carol Moseley, Braun, Doug Mills, Charles Tasnadi, Kathleen Brown, Bill Clinton, Dirck Halstead, Lisa Leslie, Gigi Goshko, Douglas Graham, Hillary Clinton, Clinton, Paul J, Richards, Orrin Hatch, Patrick J, Leahy, William H, Pryor Jr, Scott J, Ferrell, Arnold Schwarzenegger, Schwarzenegger, Tim Sloan, Rick Friedman, Condoleezza Rice, George W, Bush, Colin Powell, Chuck Kennedy, John Roberts, Mark Wilson, Eileen Mariano, Mariano, interning, Tom Williams, Carson, Jay L, Barack Obama, Ralf, Finn Hestoft, Hina Rabbani Khar, Brendan Smialowski, Jacquelyn Martin, AP Sen, Chuck Grassley, Christine Blasey Ford, Brett M, Kavanaugh, Ford, Donald Trump, Chip Somodevilla, Barrett, Bonnie Cash, Graham, Samuel Corum, Jonathan Ernst, Simone Biles, Larry Nassar, Aly Raisman, Maggie Nichols, McKayla Maroney, Bob Dole, Oliver Contreras, Kent Nishimura, Kevin Dietsch, Dianne Feinstein's, Moscone, Milk, CNN’s Dana Bash, Dan White, ‘ Dan, ’, Harvey, California’s, Bash, Richard Blumenthal, Bill Clark, Annette Bening, Donald Trump’s, South Carolina Republican Lindsey Graham’s Organizations: Washington CNN, Senate, California Democratic, Democratic, Press, Democrats, Democratic Party, Capitol, Senate Intelligence, California Democrat, Capitol Hill, CNN, Golden State ”, Illinois, Republican, New York Times, Underwood Archives, Getty, San Francisco City Hall, San Francisco, of Supervisors, Bettmann, San Francisco Chronicle, San Francisco Ice Company, White, Steiner, Forbidden, Democratic National Convention, United States Senate, United, United States women's, team, Convention, Washington Post, Circuit, Images California, McClatchy, Tribune, Service, Supreme, California, Rancho, Pakistan's, AP, Committee, White House, Los Angeles Times, Stanford University, San, Supervisors, Administration Committee, federal, Inc, South Carolina Republican, Judiciary, Intelligence, Appropriations Locations: Washington, California, San Francisco, America, ” San Francisco, Washington , DC, DC, Forbidden City, Beijing, China, Feinstein , California, Los Angeles, United States, New York, AFP, Boston, Rancho Bernardo, San Diego, San Francisco , California, Maryland, San Francisco County, Richard Blumenthal of Connecticut

☆ The world needs cheap electric cars. That spells trouble for Big Auto
▼ + stars: | 2023-09-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

The world needs affordable EVs more than ever as electric cars will play a big role in hcelping countries cut planet-heating pollution. “When legacy [carmakers] talk about catching up to Tesla or catching up to the leading Chinese automakers, it’s difficult. It is by far the world’s biggest EV battery manufacturer and dominant in the supply and processing of many critical components needed to make the batteries. Global automakers have had little choice but to enter into joint ventures with Chinese EV and battery manufacturers. EU lawmakers have voiced concerns that government subsidies allow Chinese EV makers to keep prices artificially low, creating unfair competition for European rivals.

Persons: Henry Ford’s, carmaking, Jeff Kowalsky, ”, Gene Munster, Tesla, — Tesla, —, Patrick Hummel, Krisztian Bocsi, Ford, “ It’s, ” Dan Ives, Bill Pugliano, Daniel Röska, Bernstein, China …, Marco Rubio, “ They’re, Bill Ford, CNN’s Fareed Zakaria Organizations: London CNN —, Ford Motor Company, Toyota, Volkswagen, United, Getty, Deepwater Asset Management, Volkswagen Group, Audi, Porsche, Chrysler, Jeep, Ford, General Motors, International Energy Agency, Honda, Renault, Nissan, Mitsubishi, Hyundai, Kia, Benz, BMW —, Investment, UBS, EV, Atlas Public, VW, Bloomberg, Reuters, Twitter, Stellantis, Wedbush Securities, CNN, United Auto Workers, Refining, Global, Republican, European Union, EU, Jato Dynamics Locations: Europe, United States, Dearborn , Michigan, AFP, China, Japan, South Korea, Asia, US, Germany, ” Munster, Munster, Lansing , Michigan, Michigan, Beijing, America

DETROIT (AP) — The United Auto Workers union says its two-week strike against Detroit automakers will spread to 7,000 more workers at a Ford plant in Chicago and a General Motors assembly factory near Lansing, Michigan. Union President Shawn Fain told workers on a video appearance Friday that negotiations haven’t broken down but Ford and GM have refused to make meaningful progress. The GM plant in Delta Township, near Lansing, makes large crossover SUVs such as the Chevrolet Traverse and Buick Enclave. The Chicago Ford plant makes the Ford Explorer and Explorer Police Interceptors, as well as the Lincoln Aviator SUV. The union went on strike Sept. 15 when it couldn’t reach agreements on new contracts with the companies.

Persons: Shawn Fain, Stellantis, Fain, ” Fain, “ I’m, ”, Gerald Johnson, “, doesn’t, ” Johnson, Ford, ____ Koenig Organizations: DETROIT, United Auto Workers, Detroit, General Motors, Union, Ford, GM, Chevrolet Traverse, Buick, Chicago Ford, Ford Explorer, Explorer Police, Lincoln Aviator, Facebook, UAW Locations: Chicago, Lansing , Michigan, Delta Township, Lansing, Missouri , Ohio, Michigan, Dallas

[1/4] Shawn Fain, President of the United Auto Workers (UAW) speaks as U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. A union official confirmed the new proposal as talks remain active with Stellantis, General Motors (GM.N) and Ford Motor (F.N) in the strike's fourteenth day. UAW President Shawn Fain plans to disclose the union's next steps Friday at 10 a.m. Fain hosted U.S. President Joe Biden's historic visit to a union picket line on Tuesday. Stellantis last week indefinitely laid off more than 350 workers in Ohio and Indiana because of the strike impact.

Persons: Shawn Fain, Joe Biden, Evelyn, Fain, Joe Biden's, Stellantis, Ford, David Shepardson, Joe White, Chris Reese, Nick Zieminski Organizations: United Auto Workers, UAW, REUTERS, Chrysler, Detroit, General Motors, Ford, GM, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Ohio, Indiana, Michigan, Kansas

In this article FSTLAM-ITGM Follow your favorite stocks CREATE FREE ACCOUNTStriking members of the United Auto Workers (UAW) picket outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023. ET Friday, barring substantial progress by in negotiations with General Motors, Ford Motor and Stellantis for contracts covering some 146,000 autoworkers. As of the Wednesday announcement, the UAW also hadn't put forth counter proposals to offers made by the automakers roughly a week earlier, the people said. About 18,300 workers, or roughly 12.5% of the UAW members covered by its contracts with the Detroit automakers, are currently on strike. On the picket linesIn recent days, union members on the picket lines have reported confrontations, intimidations with guns, hit-and-run vehicle accidents and vandalism of vehicles and company property.

Persons: Evelyn Hockstein, Shawn Fain, Fain, hadn't, Mary Barra, Stellantis, Jonah Furman, they've, Matthew Hatcher Organizations: United Auto Workers, UAW, Reuters DETROIT, Detroit automakers, General Motors, Ford Motor, GM, Mopar, Center, AFP, Getty Locations: Bellville, Wayne County , Michigan, U.S, Flint , Michigan, Center Line, Michigan

☆ GM reportedly slammed Ford over its plan to use Chinese battery technology in EVs
▼ + stars: | 2023-09-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +4 min

General Motors and Ford appear to be feuding over the use of Chinese battery technology in electric cars. AdvertisementAdvertisementGeneral Motors and Ford appear to be at odds over the use of Chinese battery technology in electric cars. It's not clear yet whether that means Ford's use of Chinese battery tech will disqualify some of its cars. China at the bargaining tableFord halted construction on a new battery plant in Michigan this week as Republican lawmakers apply more scrutiny to the company's ties to a Chinese battery maker. When Ford announced the $3.5 billion EV battery plant earlier this year, the company said it would be contracting battery technology from China's Contemporary Amperex Technology Co. Ltd., or CATL.

Persons: —, Mary Barra, GM's, Jim Farley, Biden, what's, We're Ford, Chris Smith, Ford, GM didn't, T.R, Reid, Shawn Fain, Fain Organizations: Motors, Ford, GM, Service, Wall Street Journal, Ford Motor, EVs, Amperex Technology, . Ltd, Bloomberg, United Auto Workers, Detroit, UAW Locations: China, America, Michigan, Marshall , Michigan, Dearborn , Michigan

DETROIT (AP) — The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit's three automakers. The union says President Shawn Fain will make the announcement at 10 a.m. Eastern time in a video appearance addressing union members. Additional walkouts will take place at noon Friday without serious progress in contract talks, the union said. The union went on strike Sept. 14 when it couldn't reach agreements on new contracts with Ford, General Motors and Jeep maker Stellantis. Masters doesn't think Fain will announce that the whole union will go on strike yet.

Persons: Shawn Fain, Ford, Fain, ” Masters, Masters, ____ Koenig Organizations: DETROIT, United Auto Workers, Detroit's, Ford, General Motors, GM, Wednesday, Marick, Wayne State University Locations: Missouri , Ohio, Michigan, Detroit, Dallas

☆ These 5 Club stocks have defied the S&P 500's recent slide
▼ + stars: | 2023-09-25 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

September has been unkind to stocks – living up to its historical reputation as the weakest month for the S & P 500 . Still, some Club stocks have been able to buck the downward trend since the start of the month — and none more so than Humana (HUM). The health insurer advanced 7.3% through Friday's close, putting it among the top-10 performing stocks in the S & P 500 over that stretch. In a year largely characterized by outperformance in technology stocks, health care has been one of the worst S & P 500 sectors . The stock entered Monday's session down more than 11% in 2023, the third-worst of any Club stock.

Persons: Jim Cramer, Jim, Centene, Molina, it's, Ford's outperformance, –, Shawn Fain, Ford, Honeywell's outperformance, Vimal, Morgan Stanley, Kupar, Darius Adamczyk, Jim Cramer's Organizations: Federal Reserve, Treasury, CVS Health, Molina Healthcare, McKesson Corp, Humana, Costco Wholesale, Ford, Costco, Club, Detroit, General Motors, Chrysler, United Auto Workers, GM, UAW, Reuters, Honeywell International, Meta, Street Journal, Morgan, CNBC, New York Stock Exchange, View Press, Getty Locations: Friday's, Kupar, New York

☆ Ford pausing work on $3.5 billion Michigan electric vehicle battery plant
▼ + stars: | 2023-09-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Ford is pausing work on a new, $3.5 billion electric vehicle battery plant in Michigan, even as the transition to electric vehicles has become a major sticking point in a United Auto Workers strike against automakers Ford, GM and Stellantis. No final decision has been made on whether the plant will, ultimately, become operational, said Ford spokesman T.R. If completed, the plant will be located on a 950-acre site in southern Michigan near the town of Marshall. The battery plant was planned to operate in addition to plants in Kentucky and Tennessee that Ford announced in 2021. Ford has said it plans to be able to produce 2 million electric vehicles globally by late 2026.

Persons: CNN — Ford, T.R, Reid, Ford’s, Ford, “, ”, ” Ford, Shawn Fain Organizations: CNN, United Auto Workers, Ford, GM, Marshall, General Motors, UAW, Ford Motor Co, Amperex Technology, SK Innovations Locations: Michigan, Marshall, United States, Kentucky, Tennessee, South Korea

Search resuls for: ". Ford"

25 mentions found