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Workers at Ford voted 69.3% in favor of the pact, which passed with nearly a 15,000-vote margin in balloting that ended early Saturday. Earlier this week, GM workers narrowly approved a similar contract. They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. This provision will give the UAW an opportunity to unionize the EV battery plants plants, which will represent a rising share of industry jobs in the years ahead. Contracts with the auto companies should also lead to higher wages at auto-parts supply companies and in other industries, Wheaton said.

Persons: Shawn Fain, Fain, ”, Wheaton, United States —, Hyundai —, Mark McGill, ” McGill, he'll, Ford, John Lawler, Michelle Krebs, Krebs, Joe Biden, Cornell's Wheaton, Biden, didn't Organizations: DETROIT, United Auto Workers, Ford, General Motors, Workers, UAW, Cornell University, United States — Honda, Toyota, Hyundai, Tesla, Foreign, GM, Chrysler, Bronco, Cox Automotive, Cox Locations: Stellantis, United States, Wheaton, Wayne , Michigan, U.S, Detroit, Belvidere , Illinois, Scranton , Pennsylvania

Overall, 68.4% of Stellantis workers who cast ballots were in favor of ratification, and the contract was leading by more than 9,600 votes with only three small facilities uncounted. At Stellantis, workers at the large Jefferson North factory that makes Jeep Grand Cherokees voted 70.7% in favor of the agreement. Top assembly plant workers would get immediate 11% raises and earn roughly $42 per hour when the contracts expire in April of 2028. More than half of GM's 46,000 union workers get the top assembly plant wage. Longtime assembly plant workers also wanted to see larger pension increases as well as defined benefit pensions and health care in retirement for workers hired after 2007.

Persons: Stellatis, ”, Shawn Fain, Joe Biden Organizations: DETROIT, —, United Auto Workers, Ford, Workers, General Motors, Jefferson, Cherokees, Detroit, Detroit Mack Assembly, Wayne State University, GM, UAW Locations: Stellantis, Detroit, Detroit Mack

☆ Ford union workers ratify UAW deal, closing out historic negotiations with Detroit automakers
▼ + stars: | 2023-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. DETROIT — Union members at Ford Motor approved a tentative agreement Friday, concluding contentious contract negotiations between the United Auto Workers and Detroit automakers. According to the UAW's vote tracker, which must still be finalized, the Ford deal was supported by 68.2% of the nearly 35,000 autoworkers at Ford who voted. Local UAW chapters representing every Ford plant voted in favor of the pact aside from a small parts facility in Florida and the automaker's massive Kentucky Truck Plant, as of early Friday afternoon. The contract ratifications come weeks after the automakers and union reached tentative deals, ending about six weeks of targeted strikes by the UAW.

Persons: Ford, ratifications, Shawn Fain Organizations: United Auto Workers, Plant, DETROIT — Union, Ford Motor, Detroit, UAW, Ford, General Motors, Local UAW, Dearborn, Stellantis, GM Locations: Michigan, Wayne , Michigan, Florida, Plant

☆ Union Workers Ratify Contract at General Motors
▼ + stars: | 2023-11-16 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

United Automobile Workers union members at General Motors have ratified a tentative contract in a closely contested vote, according to a tally of results from all the G.M. locals posted by the union on Thursday. The contract had the support of 55 percent of the nearly 36,000 members voting. Tentative agreements with Ford and Stellantis, the maker of brands including Jeep and Chrysler, appear headed for approval by larger margins, incomplete results there show. The agreements raise the top wage for production workers by 25 percent, to more than $40 over four and a half years, from $32.

Persons: Shawn Fain Organizations: United Automobile Workers, General Motors, Ford, Jeep, Chrysler

☆ 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

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

☆ 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

☆ 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

☆ 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

☆ 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 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

☆ The UAW’s deal to end the auto strike could be in trouble
▼ + stars: | 2023-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

The Ford vote in Kentucky showed 55% of the members at the Kentucky Truck plant voting against the deal. That plant went on strike with little notice on October 12, about three weeks into the strike that targeted specific plants at the company. Members at Ford’s nearby Louisville Assembly plant who belong to the same union local voted 53% in favor of the deal. A vote tracker on the UAW site shows that 65% of members at Ford who have voted so far approve of the deal. So far the vote at Stellantis has overwhelming support, with 82% of the members who have voted supporting the deal.

Persons: Mack Truck, Spokespeople, Shawn Fain, Fain, Stellantis Organizations: New, New York CNN, General Motors, Ford, GM, Kentucky, UAW, Flint, Facebook Locations: New York, Louisville , Kentucky, Flint , Michigan, Kentucky, Ford’s, Louisville, Dearborn Michigan, Stellantis, Marysville , Michigan, Detroit

☆ Hyundai joins Honda and Toyota in raising wages after auto union wins gains in deals with Detroit 3
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: +1 min

South Korean automaker Hyundai has joined Honda and Toyota in raising factory worker wages after the United Auto Workers union reached new contract agreements with Detroit automakers. Hyundai said Monday it will raise factory worker pay 25% by 2028, matching the general wage increase won by the UAW during that period. Toyota raised factory pay 9% to 10% starting in January, while Honda said it will increase wages 11% during the same period. Fain said terrified auto executives at nonunion plants are raising wages, and he called Toyota's pay increase the UAW bump. When cost of living wages are factored in, workers will get about 33% raises, with the top assembly line employee making about $42 per hour.

Persons: Honda, Shawn Fain's, Fain Organizations: Hyundai, Honda, Toyota, United Auto Workers, Detroit, UAW, Labor, General Motors, Ford

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

☆ Toyota, Honda and Hyundai are raising wages in wake of big UAW wins
▼ + stars: | 2023-11-14 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —The United Automobile Workers’ won big wage and benefit gains in tentative contract agreements with Ford, General Motors and Stellantis. Now, non-union companies are rushing to give their non-unionized workers raises, too. Toyota said it’s raising wages by more than 9%, and Honda announced 11% wage hikes beginning next year. While the auto companies didn’t directly attribute their raises to the UAW, the UAW has said it will be targeting non-union factories in the wake of its big wins. UAW President Shawn Fain already encouraged non-union autoworkers to join the UAW, and Fain has called the non-union wage increases the “UAW bump.” The UAW hopes its new contracts with Detroit automakers will inspire other workers to unionize.

Persons: ” Hyundai, ”, A.J, Jacobs, Shawn Fain, autoworkers, Fain, ” Fain, Tesla, Thomas Kochan Organizations: New, New York CNN, United Automobile Workers ’, Ford, General Motors, Toyota, Honda, Hyundai, UAW, Labor, East Carolina University, Foreign, Detroit, Subaru, Volvo, BMW, Mercedes, MIT Sloan School of Management Locations: New York, Alabama, Georgia, United States, “

☆ UAW president to vow aggressive auto plant organizing in Senate testimony
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

UAW President Shawn Fain takes the stage with Dawn Simms, UAW Local 126 Member, during a United Auto Workers (UAW) union members in Belvidere, Illinois, U.S., November 9, 2023. REUTERS/Leah Millis Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - United Auto Workers President Shawn Fain will tell a Senate Committee on Tuesday the union plans to aggressively organize non-union U.S. auto plants after winning new contracts with the Detroit Three automakers. "For decades, non-union auto companies have used fear, uncertainty, and division to break union drives in our industry," Fain will tell the Senate Health, Education, Labor and Pensions Committee, according to written testimony seen by Reuters. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. The hearing will also include testimony from Teamsters President Sean O'Brien and Association of Flight Attendants President Sara Nelson.

Persons: Shawn Fain, Dawn Simms, Leah Millis, Fain, Sean O'Brien, Sara Nelson, Nelson's, Joe Biden, unionize Tesla, David Shepardson, Deepa Babington Organizations: UAW, United Auto Workers, REUTERS, Rights, U.S, Detroit Three, Health, Education, Labor, Pensions, Reuters, Hyundai, nonunion, General Motors, Ford Motor, Chrysler, Toyota, Honda, Association of Flight, Illinois, Detroit, Thomson Locations: Belvidere , Illinois, U.S, KS, Korean

☆ The Social Gospel movement is changing our politics and reshaping our perspectives
▼ + stars: | 2023-11-13 | by ( John Blake | ) edition.cnn.com time to read: +15 min

Fain’s sermonette underscores a trend that has largely gone unnoticed: The Social Gospel movement is making a comeback. Jemal Countess/Getty ImagesIt might sound like hyperbole to say that this resurgent form of the Social Gospel is changing our politics. He reached deep into the Social Gospel throughout the UAW strike, routinely deploying what one commentator called “strikingly Christian rhetoric.”Christopher H. Evans, author of “The Social Gospel in American Religion: A History,” said he heard the Social Gospel in Fain’s UAW speeches. “It (The Social Gospel) won’t have the institutional muscle it had before, but you could still have these voices and followers.”The climate in contemporary America seems ripe for the Social Gospel message. And the soaring optimism of old Social Gospel reformers may now seem as outdated as wobbly black-and-white silent films.

Persons: CNN —, Shawn Fain, Fain, ” Fain, Matthew, Jesus, ”, Moses, Paul, Stellantis, Fain’s sermonette, don’t, Frederic J . Brown, John D, Rockefeller, “, pulpits, didn’t, Charles Sheldon, Fain’s, that’s, Democratic Sen, Raphael Warnock, Cornel West, William Barber II, Liz Theoharis, Matthew Desmond, Martin Luther King, William Barber, Jemal Countess, ” Christopher H, Evans, Heath W, Carter, Luke, Sen, Warnock, Barber, Desmond, Amir Levy, it’s, ” It’s, you’re, ” Evans, Dom Helder Camara, Rebecca Cook, Reuters “ There’s, won’t, —, John Blake Organizations: CNN, Big Three, United Auto Workers, UAW, General Motors, Ford Motor Company, Chrysler, Writers Guild of America, UPS Teamsters, UPS, Getty, Democratic, US, Big Tech, Boston University, ” Mining, Library, “, Princeton Theological Seminary, Yale Divinity School‘s Center, Public Theology, Ivy League, The New York Times, Social, Reuters, Teamsters, Screen Actors Guild Locations: Jerusalem, America, Los Angeles, AFP, Washington, Kingston , Pennsylvania, Chicago, ”, American City, American, Lower Manhattan, New York City, Brazilian, Detroit

South Korean automaker Hyundai has joined Honda and Toyota in raising factory worker wages after the United Auto Workers union reached new contract agreements with Detroit automakers. Toyota raised factory pay 9% to 10% starting in January, while Honda said it will increase wages 11% during the same period. Fain said terrified auto executives at nonunion plants are raising wages, and he called Toyota's pay increase the UAW bump. By early next year the company said it will have increased factory worker pay 14% in the past year. With its increases, Toyota’s top factory worker pay will go to $34.80 per hour in January.

Persons: Honda, Shawn Fain's, Fain, ’ ”, Harry Katz, it’s, “ There’s, ” Katz, “ They’ve, ”, Katz, ” Jose Munoz, Toyota’s, haven’t Organizations: Hyundai, Honda, Toyota, United Auto Workers, Detroit, UAW, Labor, “ UAW, General Motors, Ford, Cornell University Locations: Montgomery , Alabama, Savannah , Georgia

☆ Here’s why saving this Illinois auto plant is a ‘gigantic deal’
▼ + stars: | 2023-11-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Now the United Auto Workers union can add one more. Illinois is not a political battleground state like Michigan or Ohio, which have far more auto plants. But that plant is now due to reopen as an assembly plant in 2027, building a new midsize pickup truck. President Joe Biden speaks to the United Auto Workers union in Belvidere, Illinois, on Thursday. And it’s what happened with the last GM assembly plant in Detroit, its Hamtramck Assembly plant, that as part of the 2019 labor deal was closed in early 2020 and re-tooled to make electric pickups, reopening in November 2021.

Persons: Joe Biden, Shawn Fain ., “, ”, Jeff Schuster, Fain, Biden, ” Fain, Evan Vucci, ” ‘, Dawn Sims, Stellantis, Schuster Organizations: New, New York CNN —, Motors, Stellantis, Ford, United Auto Workers, UAW, Stellatis, GM, Workers, GlobalData, Chrysler, Hamtramck Assembly Locations: New York, Belvidere , Illinois, Shawn Fain . Illinois, Michigan, Ohio, Belvidere, Illinois, Chicago, Stellantis, Delaware, Edmunds, Sterling Heights , Michigan, Detroit, Hamtramck, Spring Hill , Tennessee, Orion Township , Michigan, Lordstown , Ohio, Warren , Michigan, Baltimore

☆ Biden backs Tesla, Toyota unionization, slams Trump
▼ + stars: | 2023-11-09 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

BELVIDERE, Illinois, Nov 9 (Reuters) - President Joe Biden on Thursday backed the United Auto Workers' efforts to unionize carmakers Tesla (TSLA.O) and Toyota (7203.T) and asked auto workers to reject his Republican opponent, Donald Trump. En route to the event, Biden told reporters that he “absolutely” supports the UAW's efforts to unionize Tesla and Toyota workers. Tesla did not immediately respond to a request for comment on the remark by Biden, who has backed UAW efforts in other speeches. Trump, the frontrunner for the Republican presidential nomination, visited a nonunion factory in Michigan in September while Biden joined a picket line with striking UAW workers, Biden reminded workers. MUSK'S ANTI-UNION STANCEBiden's comments may renew friction between the U.S. president and Tesla CEO Elon Musk, especially as the UAW seeks to organize Tesla workers.

Persons: Joe Biden, carmakers Tesla, Donald Trump, Biden, Shawn Fain, unionize Tesla, Tesla, Trump, Fain, Elon Musk, Musk, Biden sparred, UAW's Fain, Mark Burton, Gretchen Whitmer, Burton, Nandita Bose, Susan Heavey, David Shepardson, Sayantani Ghosh, Steve Holland, Heather Timmons, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, Toyota, Republican, UAW, Democratic, Union, U.S, nonunion, GM, National Labor Relations Board, NLRB, Trump, Labor, Biden, General Motors, Ford, Dodge, Michigan, San, Thomson Locations: BELVIDERE , Illinois, Belvidere , Illinois, Belvidere ., Michigan, U.S, Georgetown , Kentucky, Tesla’s Fremont , California, Honigman, Washington, San Francisco

☆ Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers
▼ + stars: | 2023-11-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden puts on a t-shirt of the UAW Local 1268 during a United Auto Workers (UAW) union members meeting, in Belvidere, Illinois, U.S., November 9, 2023. DETROIT – President Joe Biden said Thursday that all autoworkers deserve contracts like the ones recently won by the United Auto Workers from General Motors , Ford Motor and Chrysler-parent Stellantis . Biden, wearing a red UAW T-shirt given to him by a local union leader, said the deals won by UAW negotiators are "game changers" that set a "new standard" for blue-collar workers. "I'm a little selfish, I want this type of contract for all autoworkers," Biden said during a visit with UAW President Shawn Fain in Belvidere, Illinois. "I told my team, 'Make Stellantis know Belvidere is a priority,' so I got on the phone and let him know personally I thought it was a priority," Biden said.

Persons: Joe Biden, Stellantis, Biden, Shawn Fain, Mark Stewart Organizations: UAW, United Auto Workers, DETROIT, General Motors, Ford Motor, Chrysler, Stellantis North Locations: Belvidere , Illinois, U.S, Stellantis North America, Belvidere

He ordered up an economic analysis and spoke to company officials about the plant, according to White House officials. On Thursday, Biden will visit Belvidere to showcase that same auto plant, which has reopened as part of the settlement of a targeted strike by the United Auto Workers union. O'Malley Dillon said the UAW contracts and the auto plant reopening reflect a larger focus on workers by the president. The contracts, if approved by 146,000 union members in the coming weeks, would dramatically raise pay for auto workers. Top assembly plant workers would earn roughly $42 per hour.

Persons: Joe Biden, Biden, he's, ”, Jen O’Malley Dillon, White, O'Malley Dillon, Donald Trump, Gene Sperling, Trump, Shawn Fain, J.B . Pritzker, Stellantis Organizations: WASHINGTON, Biden, White, United Auto Workers, Dodge, UAW, Labor, White House, Illinois Gov, Motors, Ford, Republican Locations: Chicago, Belvidere, China, United States

☆ Tesla shares drop 5% after HSBC calls it a 'very expensive auto company'
▼ + stars: | 2023-11-09 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla shares closed down about 5% on Thursday at $209.98 after HSBC Global initiated coverage with a "reduce" rating and a $146 price target. "Arguably the ideas need to become reality to support the current share price," the analysts said. On the more bullish side, HSBC analysts said Tesla's core automotive business "faces fewer challenges than the incumbents and as such, deserves a premium." Besides the "reduce" rating from HSBC, Tesla is also facing a widening strike in Sweden. The IF Metall trade union, which represents some Tesla service employees, began a strike action at 12 Tesla service centers on Oct. 27, The New York Times reported.

Persons: Elon Musk, Tesla, Dockworkers, Joe Biden, Shawn Fain Organizations: HSBC Global, HSBC, Elon, Tesla, IF Metall, New York Times, Swedish Transport Workers Union, The New, UAW, Toyota, Auto Locations: Beijing, China, Sweden, Norway, The New Republic, Illinois

Mr. Biden made history with his visit when he became the first president to appear on a picket line to support the striking workers. When word came down that the union had struck a deal with the automakers, Mr. Biden stepped away during a state dinner welcoming the Australian prime minister and called the U.A.W. “The union situation is a win for Biden,” said Barry Rabe, a professor of public policy at the University of Michigan. Mr. Fain has yet to give Mr. Biden the U.A.W.’s endorsement, but he has also outlined ambitious goals that would be much harder to achieve if Mr. Trump returned to the White House. And while Mr. Biden visited picketing workers and voiced support for their strike, Mr. Trump visited a nonunion plant in Michigan and said union members “were being sold down the river by their leadership.”

Persons: Biden, Trump, Shawn Fain, “, ”, Barry Rabe, Fain, ’, Trump’s Organizations: Democratic, Biden, University of Michigan, National Labor Relations Board Locations: autoworkers, Michigan

☆ How a No-Nonsense Union Leader Became a Style Icon
▼ + stars: | 2023-11-08 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

The United Auto Workers union struck a landmark series of deals with some of the nation’s largest automakers in recent weeks. Photo: Rebecca Cook/ReutersA few weeks into the United Auto Workers strike, the union’s straight-shooting president, Shawn Fain, appeared on a video livestream to update his members on the progress of negotiations. Things weren’t going well, and Fain did not mince words. “I’ll tell it to you straight. The billionaires and company executives think us autoworkers are just dumb,” he said.

Persons: Rebecca Cook, Shawn Fain, Fain Organizations: United Auto Workers, Reuters

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