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☆ U.A.W. Set to Begin Walkouts as Deadline Nears With No Contract Deals
▼ + stars: | 2023-09-14 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

The United Automobile Workers union said late Thursday that its members were set to walk off the production lines in three plants in three states at midnight in what would be the first strike simultaneously affecting all three Detroit automakers. The union and the companies — General Motors, Ford Motor and Stellantis, the parent of Chrysler — remained deadlocked in negotiations over a new collective bargaining agreement with the current contract set to expire at 11:59 p.m. As the deadline neared, workers started to fan out at the plants to protest. At the outset, the strike would idle one plant owned at each automaker, and could force the automakers to halt production at other locations, shaking local economies in factory towns across the Midwest. “We are using a new strategy,” the union’s president, Shawn Fain, said in a video streamed via Facebook. “We are calling on select locals to stand up and go out on strike.”

Persons: Chrysler —, Shawn Fain, ” Organizations: United Automobile Workers, Detroit automakers, Motors, Ford Motor, Chrysler, Facebook

☆ Standoff Over Electric Vehicle Workers Poses Risk for Biden
▼ + stars: | 2023-09-13 | by ( Noam Scheiber | More About Noam Scheiber | ) www.nytimes.com time to read: +1 min

President Biden has been highly attuned to the politics of electric vehicles, helping to enact billions in subsidies to create new manufacturing jobs and going out of his way to court the United Automobile Workers union. The union, under its new president, Shawn Fain, wants workers who make electric vehicle components like batteries to benefit from the better pay and labor standards that the roughly 150,000 U.A.W. The Detroit automakers counter that these workers are typically employed in joint ventures with foreign manufacturers that the U.S. automakers don’t wholly control. The companies say that even if they could raise wages for battery workers to the rate set under their national U.A.W. contract, doing so could make them uncompetitive with nonunion rivals, like Tesla.

Persons: Biden, Ram —, Shawn Fain, Tesla Organizations: United Automobile Workers, —, Motors, Ford Motor, Chrysler, Jeep, Detroit automakers, U.S, don’t

☆ Jim Cramer on how to navigate the August pullback in equities markets
▼ + stars: | 2023-08-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +8 min

But I don't think they are as related as most would have you believe. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: nothing's, Jerome Powell, we're, it's, Powell, Jackson, Donald Trump, Trump, Joe Biden, Walter Reuther playbook, Ronald Reagan, Xi Jinping, Herbert Hoover, –, – Trump, let's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Apple, Nvidia, Home Depot, Walmart, Trump, Republican, United Automobile Workers, UAW, Trust Corporation, Jim Cramer's Charitable, CNBC, U.S . Federal Reserve, Federal Reserve Bank of Kansas, Bloomberg, Getty Locations: Jackson, Georgia, China, Federal Reserve Bank of Kansas City, Moran , Wyoming

☆ From Detroit to Hollywood, New Union Leaders Take a Harder Line
▼ + stars: | 2023-08-16 | by ( Noam Scheiber | More About Noam Scheiber | ) www.nytimes.com time to read: +1 min

Shawn Fain is not a typical president of the United Automobile Workers union. Mr. Fain recently declined a symbolic handshake with the chief executives of the major Detroit automakers, a gesture that traditionally kicks off contract negotiations. He is seeking an ambitious 40 percent wage increase for rank-and-file members — in line, he says, with the pay gains of those corporate leaders over the past four years. Mr. Fain, who won his position in March, is the first president in the union’s history, dating back nearly 90 years, to be elected directly by its members. The change took place after a major corruption scandal engulfed two of his predecessors and several more union officials.

Persons: Shawn Fain, Fain, “, ’ ”, Shana Shaw, ‘ It’s, ’ Organizations: United Automobile Workers, Detroit, Chrysler, General Motors Locations: Stellantis, Missouri

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