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A strike could impact the inventory and deals that car buyers get from Ford, GM, and Stellantis. But a looming strike by the United Auto Workers could throw the market back into some disarray, automotive industry and manufacturing experts told Insider. AdvertisementAdvertisementExperts say a potential strike would mean sinking levels of inventory and fewer deals car buyers could get in the fourth quarter — especially if the strike goes on for a while. What customers should look out for if there's a strikeThe amount of vehicle supply at dealerships across the country this year has been interesting to watch. It wasn't until the months leading up to the 2020 Covid pandemic that GM dealers started running low.
Persons: Stellantis, isn't, there's, Ford, Sam Fiorani, Fiorani Organizations: United Auto Workers, Detroit, Ford, GM, Service, Deutsche Bank, Cox Automotive, UAW, Detroit automakers, AutoForecast Solutions, Toyota, Honda Locations: Wall, Silicon, Detroit
“I think there's great concern about the state of our democracy at this time,” said Mark Updegrove, CEO of the LBJ Foundation, which supports the LBJ Presidential Library in Austin, Texas. Those organizations all support presidential libraries created under the Presidential Library Act of 1955, along with the Eisenhower Foundation. The push for the joint statement was spearheaded by Daniel Kramer, executive director of the George W. Bush Institute. “America is experiencing a decline in trust, social cohesion, and personal interaction.”Valerie Jarrett, a senior adviser to former President Barack Obama who is now CEO of the Obama Foundation, said the former president supported the statement. “This is a moment where we could all come together and show that democracy is not about partisan politics,” she said.
Persons: Herbert Hoover, , Mark Updegrove, Updegrove, Lyndon Johnson, John F, Richard Nixon, Gerald R, Ronald Reagan, George, Barbara Bush, George W, Daniel Kramer, Kramer, , Bill Gates, Gates, ” Kramer, ” Melissa Giller, ” Giller, ” Valerie Jarrett, Barack Obama, ” Jarrett, Obama Organizations: WASHINGTON, LBJ Foundation, LBJ Presidential, Hoover Presidential Foundation, Roosevelt Institute, Truman Library Institute, Kennedy Library Foundation, Richard, Richard Nixon Foundation, Ford Presidential Foundation, Carter Center, Ronald Reagan Presidential Foundation and Institute, Barbara, Barbara Bush Foundation, Clinton Foundation, Bush Presidential Center, Obama, Center, Eisenhower Foundation, The Eisenhower Foundation, Associated Press, Bush, Bush Institute, Ronald, Ronald Reagan Foundation and Institute, Obama Foundation Locations: Austin , Texas, loggerheads, Maricopa County, Phoenix, The, Washington ,, Chicago
Eli Lilly not only reported a stellar second quarter, management was able to raise its full-year sales and adjusted earnings outlook as well. Though revenues were a tad short, earnings results were better than expected on a both a HAAP and adjusted basis. Constellation Brands' (STZ) sales and earnings results outpaced expectations. DuPont (DD) reported a good quarter prior to us initiating a position in the name. But the slight comparable-sales miss in North America prompted questions about the company's ability to hit its long-term targets of 10% to 12% revenue growth and 15% to 20% earnings growth.
Persons: That's, Eli Lilly, Mounjaro, Morgan Stanley, Stanley Black, Decker, it's, Wells Fargo, Sartorius, Estee Lauder, We're, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Procter, Gamble, TJX, Federal Reserve, Club, Costco, Emerson Electric, Humana, Oracle, Alto Networks, billings, Companies, Wynn Resorts, WYNN, North, Broadcom, Constellation Brands, DuPont, Ford, GE Healthcare Technologies, Linde, LIN, Microsoft, Natural Resources, Procter & Gamble, , Health, Coterra Energy, Disney, Starbucks, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Macau, North American, DuPont's, India, North America, Los Angeles , California
Jim Cramer's advice: He would not look to buy more Ford on weakness nor would he look to sell Ford stock at this point. Club name Ford, which employs the most UAW members at 57,000, has seen its stock drop more than 6% in the past month. The cost of the union demands for Ford could be a "meaningful chunk of their profits," Jim added but maintained that a UAW strike is "definitely not a reason to sell" Ford stock. "Production and the EV roadmap could be pushed out into 2024 and delays would be on the horizon at this crucial period for GM, Ford, and Stellantis," Wedbush analysts wrote. Jim Cramer has said the tensions between the UAW and Ford are in part keeping Ford stock from achieving the Club's price target of $16.
Persons: Jim Cramer's, Jim, Stellantis, Shawn Fain, Fain, Ford, Jim Cramer, Biden, Fain jawboning, Joe Biden, I'm, Wells, Morgan Stanley, Jeff Kowalsky Organizations: United Auto Workers, Detroit, Ford Motor, General Motors, Chrysler, Dodge, Big, Ford, UAW, GM, Workers, Labor, Detroit automaker, Deutsche Bank, Tesla, CNBC, Ford Motor Co, AFP, Getty Locations: Philadelphia, Detroit, Dearborn , Michigan
After seasons of relative calm and predictability (some might say stultifying sameness), Milan has become the city to watch, with the two debuts of the season. First up: Sabato De Sarno at Gucci. Then there’s Peter Hawkings, another longtime deputy, who became the creative director of Tom Ford in April after the brand was sold to Estée Lauder and Mr. Ford stepped down. Mr. Hawkings worked beside Mr. Ford for decades, and judging by his official portrait, is very much in the mold of his mentor (down to the tinted aviators). The result is pretty much guaranteed to remind of us what we lost when we lost the very talented Mr. Moschino at only 44 in 1994 and why brand founders really matter.
Persons: Sabato De Sarno, Gucci, Valentino, Alessandro Michele, Peter Hawkings, Tom Ford, Estée Lauder, Ford, Hawkings, Jeremy Scott, — Katie Grand, Carlyne Cerf, Dudzeele, Gabriella Karefa, Johnson, Lucia Liu —, Moschino Organizations: Mr Locations: Milan
Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - Wells Fargo (WFC.N) hired former Credit Suisse banker Jill Ford as its head of equity capital markets, the bank said in a statement. Ford is based in New York and will report Tim O'Hara, Wells Fargo's head of banking. Ford was most recently co‑head of equity capital markets for the Americas at Credit Suisse. Reporting by Lananh NguyenOur Standards: The Thomson Reuters Trust Principles.
Persons: Wells, Jill Ford, Ford, Tim O'Hara, Lananh Nguyen Organizations: REUTERS, Credit Suisse, Americas, Thomson Locations: Wells Fargo Bank, New York City, U.S, New York
MARSHALL, MICH. – On a gusty morning in a quaint central Michigan town, the sun's glow hits the brightly colored mural on the side of a brick building. About a five-minute drive past an antique store, a book shop and a retro pharmacy is a wide field where construction has begun. Ford ultimately landed in Marshall, a town with just under 7,000 residents. Pros and consYet on the ground in Marshall, where the site is being prepped for construction to begin, the reality is much more complicated. Excitement for the site is paired with concerns about how life in a charming small town could change with the introduction of a major industry.
Persons: MARSHALL, Caryn Drenth, David Miltenberger, Ford, Joe Biden, Chuck Schumer, Derek Allen, Allen, Covid, Marshall Organizations: Marshall Hardware, Marshall, Hawks, Ford Locations: Michigan, Marshall, Serendipity
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Ford CEO Fields: 'You have to make over $100 thousand per year to afford a new car right now'Mark Fields, Former Ford CEO, joins 'Closing Bell Overtime' to talk Tesla's stock slump, the auto industry at large and a looming UAW strike.
Persons: Fields Organizations: Ford, UAW
Can the T-Shirt Be Perfected?
  + stars: | 2023-08-27 | by ( Grace Cook | ) www.nytimes.com   time to read: +1 min
About five dozen people lost jobs when Stitch Fix ceased operations at the factory and mill in November, Mr. Ford said. By March, the facilities had reopened as Buck Mason Knitting Mills, and several of the employees who had worked at them for Stitch Fix had been rehired. The cloth mill in Shillington has started to produce fabrics for Buck Mason’s T-shirts and other tops using cotton grown in California, Georgia and Texas. Albert Bareika, who was hired by Buck Mason as the mill’s knitting lead in January, said there were plans to release a limited-edition T-shirt made with fabric produced at the facility on a 1940s-era Singer Supreme machine. Its Singer Supreme machine is one of a few still in operation, added Mr. Bareika, 66, who lives in nearby Leesport, Pa., and had previously worked for Stitch Fix at the mill.
Persons: Ford, , Buck Mason Knitting Mills, Buck Mason’s, Albert Bareika, Buck Mason, Bareika, , Pleam Organizations: Singer Locations: Shillington, California , Georgia, Texas, Leesport, Pa, Mohnton, Berks County
iPhone and Samsung Battery Heat Test: How Hot Is Too Hot? Heat is enemy No. But at what temperature will you get a warning? WSJ’s Joanna Stern heated up an iPhone and a Samsung Galaxy S to get the answers. Photo illustration: Nayon Cho for The Wall Street Journal
Persons: Joanna Stern, Nayon Cho Organizations: Samsung Battery, Samsung Galaxy, Wall Street
G.M., Ford and Stellantis have suggested they will probably agree to some form of higher wages. A fresh indication of how the talks may go came on Thursday, when an Ohio battery plant owned jointly by G.M. Mr. Fain had repeatedly criticized wages at the plant, which had started at about $16 an hour, as being too low. said in July that it expected to earn more than $9.3 billion this year, about $1 billion more than a previous forecast. Ford expects earnings before taxes of $11 billion to $12 billion this year.
Persons: Fain, Fain’s, Tesla, Ram, Ford Organizations: Ford, G.M, LG Energy, Chrysler, Jeep Locations: Ohio, Korean, G.M, United States, Amsterdam, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Ford CEO Mark Fields on UAW strike vote: Wages don't really matter much if you don't have jobsMark Fields, former Ford president and CEO, joins 'Squawk Box' to discuss the UAW's strike vote this week, the impact on the auto industry, and more.
Persons: Mark Fields Organizations: Ford, UAW
[1/5] The new 2025 Ford Mustang GTD, a $300,000 limited-edition performance car, is shown in this undated company handout photo released to Reuters on August 17, 2023. Ford Motor Company/Handout via REUTERS Acquire Licensing RightsAug 17 (Reuters) - Ford Motor (F.N) is joining rival General Motors in the U.S. supercar ranks with the launch of the 2025 Mustang GTD, a limited-edition, high-performance hot rod priced from $300,000. The Mustang GTD is loosely based on the 2024 Mustang coupe that is priced from around $31,000. But the Mustang GTD really has more in common with the new Mustang GT3 racecar that is expected to compete next year at the 24 Hours of Le Mans, one of the world's premier endurance races. A spokesperson would say only that GTD production will be "more than 50 cars."
Persons: Jim Farley, Aston Martin, James Bond, Farley, Ford's, Paul Lienert, Rosalba O'Brien Organizations: Reuters, Ford Motor Company, REUTERS Acquire, Ford, General Motors, U.S, Porsche, Benz, Aston Martin, British, Cadillac, Thomson Locations: Ontario, Warren , Michigan, Detroit
Tesla began to open some of its exclusive Supercharging stations to other electric vehicles earlier this year. But the cords are designed for Teslas, meaning that owners of some other cars need to use two spaces to plug in. There's just one kink that Elon Musk hasn't ironed out: The charging cables, which were designed for Teslas, aren't long enough to comfortably accommodate some other cars. That poses a problem when other electric cars, which may have their charging ports elsewhere, try to charge up. Tesla owners sometimes experience long lines at charging stations, particularly during popular travel times.
Persons: Tesla, There's, Elon, Marques Brownlee, Electrek, Dave Conner, Conner, Tom Moloughney Organizations: Morning, EV, YouTube, Ford, Hyundai Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe challenge for automakers is making EVs actually affordable: Fmr. Ford CEO Mark FieldsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Mark Fields, Brian Sullivan, Organizations: Ford, CNBC
After a few years of smooth-sailing, Detroit automakers are coming up against several challenges. A possible UAW strike, supply chain hurdles, and inventory building up threaten carmakers' peace. The peace that Detroit automakers have had over the past several months is getting interrupted — and car buyers and investors should brace themselves. Between dealer tensions, a potential United Auto Workers strike, and parts makers struggling, automakers face a rough time ahead. Second, Detroit 3 union workers are gearing up for a strikeA strike could threaten those companies' success in the latter half of the year.
Persons: carmakers, COVID, Ford, Martin French, Kelley, Peter Maithel Organizations: UAW, Morning, Detroit, Dealers, United Auto Workers, Cox Automotive, Chrysler, Dodge, GM, GMC, Buick, EV, Ford, Deutsche Bank Locations: Detroit
Here's a rapid-fire update on all 36 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Apple remains an "own it, don't trade it" stock, Jim said. Halliburton (HAL): Given we just added a new stock to the portfolio, Jim said Halliburton may be the stock we look to cut ties with. The lesson with P & G is that, sometimes, there's nothing to do but hold a stock, Jim said. Stanley Black & Decker (SWK): The maker of DeWalt and Craftsman tools is one of the best bargains in our portfolio, Jim said.
Persons: Jim Cramer's, Jim, it's, We're, , he's, he'll, we're, Dupont, Walt Disney, Estee Lauder, Locker, Mary Dillon's, Halliburton, Humana, Humana's, Linde, Eli Lilly, there's, Mark Zuckerberg's, Jim said, Morgan Stanley, James Gorman, Nikesh Arora, Elliott Management's, Elliott, Stanley Black, Decker, It's, Wells Fargo, Wells, Charlie Scharf —, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon, Federal, Bausch Health, Caterpillar, Costco, Coterra Energy, DuPont de Nemours, Comcast, Emerson, Emerson Electric, Ford, United Auto Workers, GE HealthCare Technologies, Big Tech, NFL, Halliburton, HAL, Texas, Honeywell International, Honeywell, Linde, LIN, Facebook, Reality Labs, Microsoft, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, TJX, Goods, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: Bausch, China, Hulu, NBCUniversal, Palo, Macao
CNN —Ford has just unveiled the 800-horsepower Ford Mustang GTD which will be available in late 2024 or early 2025 at a starting price around $300,000. “Ford vs. Ferrari” recounted the 1960s Le Mans races won by the Ford GT40 race car which was developed specifically to spite the Italian automaker after Ford couldn’t buy the company. In the 2000s, Ford has produced two modern versions of the Ford GT that have both become highly collectible. The Ford Mustang GTD's body is made almost entirely from carbon fiber. Multimatic is a specialist automotive company that also works on the Mustang GT3 race car.
Persons: CNN — Ford, It’s, , , Jim Baumbick, Ford, Ferrari ”, “ Ford, Le, Ford couldn’t, Baumbick, “ We’ve Organizations: CNN, Ford, Lamborghini, Le Mans, Ford GT, Le, Ford Motor Co Locations: Italian, , Michigan, Markham , Ontario, Canada
Harrison Ford gets a new snake species named for him
  + stars: | 2023-08-16 | by ( Jackie Wattles | ) edition.cnn.com   time to read: +6 min
But the highlight of the trip to South America was discovering a species of snake new to science, which the team named for action icon Harrison Ford — a moment of levity in an otherwise dramatic excursion, noted Dr. Edgar Lehr, the lead author of a scientific paper describing the snake species. At the time, Lehr, who is a professor of biology at Illinois Wesleyan University, thought: “Wouldn’t this be cool to dedicate this new species to Harrison Ford? The national park is near “the VRAEM (Valley of Rivers Apurímac, Ene, Mantaro) area, which is the center of Peru‘s coca production and narco-trafficking,” according to the study. Otishi is considered “Peru‘s least scientifically surveyed national park,” according to the study. “This is very important (work), because we can only protect what is known,” Lehr said of documenting species new to scientists.
Persons: Harrison Ford —, Edgar Lehr, Lehr, Harrison Ford, Indiana Jones ’, Harrison, — Juan Carlos Cusi, Ricardo Vera, Maura Fernandez, Otishi, ” Lehr, , , Ford, Indiana Jones, Tachymenoides, ” Ford Organizations: CNN, Illinois Wesleyan University, Historia, US Department of State, Embassy, Conservation, Locations: South America, Peruvian, Peru, Lima —, Peru’s Junín, Cusco, Rivers Apurímac, Mantaro, Embassy of Peru, Washington , DC
The United Auto Workers union is negotiating new four-year contracts with Ford, GM, and Stellantis. UAW President Shawn Fain isn't ruling out a strike, potentially at more than one company. The White House has weighed in as the automotive industry's labor union, the United Auto Workers, is gearing up for a fight with Detroit's Big Three car companies this summer and fall. The average labor costs for the Detroit Three heading into contract talks four years ago hovered between $55 and $60 per hour. Correction: July 27, 2023 — An earlier version of this story incorrectly said workers at GM's Ultium plant were not represented by a Union.
Persons: Shawn Fain isn't, Detroit's, Joe Biden, Biden, Ford, Shawn Fain, He's, Fain, Biden's, John Deere, Tesla Organizations: United Auto Workers, Ford, GM, Detroit, UAW, Morning, Chrysler, Jeep, Facebook, University of California, EV, Lordstown, Labor, Center for Automotive Research, Union Locations: Tennessee
A cellphone allows travelers to have a camera always at the ready. Here are a few tips on when and what to shoot, and how to better frame what we see when we travel. On most cellphones, you can set up a three-by-three grid for the screen in the camera settings. Test different compositions by turning your cellphone both vertically and horizontally, and, if you have a choice of lenses, decide if the scene is best framed tightly or wide. Another way to enrich the landscape is to spot a person or an object and place them carefully in the frame as a focal point.
Persons: Steven Spielberg, John Ford,
Jim Cramer is cautious about Ford (F) due to the heightened risk of a United Auto Workers strike, which has been a recent overhang on the Club stock. The company is already seeing 50% gross margins on those software services, CEO Jim Farley said during a call with reporters following the announcement. Ford's EV transition The new software services push is just one more way Ford is embracing new technology. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Ford CEO Jim Farley poses for a photo at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan.
Persons: Jim Cramer, Jim, Shawn Fain, Fain, Joe Biden, Ford, Peter Stern, Stern, Jim Farley, Farley, Morgan Stanley, Tesla, Jim Cramer's, Bill Pugliano Organizations: Ford, United Auto Workers, Club, UAW, Detroit automakers, Deutsche Bank, Apple, Ford Integrated Services, Ford Pro, EV, Barclays, General Motors, ICE, CNBC, Ford Rouge Electric Vehicle Center, Getty Locations: Dearborn , Michigan
And an ongoing EV price war started earlier this year by Tesla's Elon Musk, is forcing deeper losses as companies chase volume over profits in the EV sector. Ford recently adjusted its electric vehicle timeline to reflect this change in EV demand. After several years of rapid growth from eager early adopters to the electric vehicle segment, EV sellers are facing the first plateau. EV sales hit a high of nearly 6% in the US last year, bringing the segment closer to a predicted 7-10% tipping point. At this level of adoption, EV sales are expected to slow considerably.
Persons: Peter Rawlinson, Chris McNally, Evercore, Lucid, Tesla's Elon, Rivian, Ford Organizations: Morning, Tesla, Air EV, Ford, EV
Want to work in tech? Don't work in tech.
  + stars: | 2023-08-08 | by ( Tien Tzuo | ) www.businessinsider.com   time to read: +8 min
I advise young engineers today to work for Fortune 500 companies, not Big Tech. Today, however, he's working on a project for a different kind of tech company: John Deere. There is no magic at Big Tech companies, there's only money. And Fortune 500 companies simply don't have the luxury of buying talent just to park it. Today, all companies are tech companies, and they all want to see more recurring revenue in their business models, which means they need smart, restless engineers.
Persons: moonshots, Jon Weisz, John Deere, Weisz, Peter Thiel, that's, Philips, Ford, Tien Tzuo, Tzuo Organizations: Fortune, Big Tech, Corporations, Oracle, Apple, Nike, Honeywell, Volvo, Boeing, Whirlpool, Technologists, Facebook, Consumer, SEI, Microsoft, EV, Cornell, Stanford Locations: Columbia, Baltimore, Hulu, Atlanta, Salesforce
And Jeep has more inventory sitting on lots right now than many of its peers. JeepWhile competing automakers are operating rather lean and intentionally keeping lighter levels of supply at dealerships, the number of cars Jeep has on lots is considerably higher. (This number isn't always a red flag, depending on how popular a car is or how an automaker handled supply shortages in recent years.) Jeep had 77 days' supply at the end of June, according to Cox Automotive — higher than the national average of 53 days. Ford isn't far off, at nearly 76 days, but GM's GMC and Chevrolet sat at 63 and 50 days' supply, respectively, in the same period.
Persons: Ford isn't, Cox Organizations: Jeep, Cox Automotive, GMC, Chevrolet, Toyota, Hyundai, Honda
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