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In its annual renumeration report, Stellantis reported CEO Carlos Tavares' 2022 pay was 23.46 million euros. That's a nearly 77% increase over then Fiat Chrysler CEO Mike Manley's 2019 pay of 13.28 million euros. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic. It's far above the typical pay gap at S&P 500 companies, which was 186-1 according to AP's annual CEO pay survey, which uses data analyzed by Equilar. CEO Elon Musk's 2022 compensation was reported as zero in the company's proxy statement, rendering its official pay ratio meaningless.

Persons: — It’s, Shawn Fain, Fain, ” Fain, ”, Mary Barra, James Farley, William Clay Ford, Stellantis, Carlos Tavares, Mike Manley's, “, Equilar, Tavares, That's, Manley, —, Tavares ’, Harry Katz, Tesla, Elon, Tom Krishner Organizations: United Auto Workers, UAW, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Ford, Chrysler, Associated Press, Big, General, Barra, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, GM, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Stellantis, American, European, Detroit

☆ Here's how General Motors' CEO Mary Barra justifies her $29 million salary
▼ + stars: | 2023-09-16 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

Auto workers are striking for a 40% pay increase from General Motors, Ford, and Stellantis. General Motors CEO Mary Barra is so far offering auto workers a 20% pay increase. The United Auto Workers union is demanding, among other things, a 40% hourly pay increase over four years. General Motors CEO Mary Barra, meanwhile, is the highest-paid of the three CEOs, making about $29 million a year. AdvertisementAdvertisementThat 20% increase is still 14 percentage points less than Barra's was over the last four years.

Persons: Mary Barra, Barra, Barra's Organizations: Auto, General Motors, Ford, Service, United Auto Workers, CNN Locations: Wall, Silicon

☆ The average monthly payment for a new car was $733 in the second quarter of 2023. That could rise if auto workers strike long enough.
▼ + stars: | 2023-09-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

The United Auto Workers went on strike on Friday after the union's four-year contract expired. About 13,000 United Auto Workers members went on strike on Friday after the union's four-year contract expired. An analysis by Edmunds.com showed that the average monthly new-car payments for the second quarter of 2023 reached $733. Now, experts say car prices could continue to rise — particularly from vehicles made by the Big Three — if there's a prolonged strike. Spokespersons for UAW, Ford, General Motors, and Stellantis did not return a request for comment sent outside of working hours.

Persons: Shawn Fain, Edmunds.com, hobbling, Ford, Stellantis, Jim Farley, Fain Organizations: United Auto Workers, Service, Detroit's, Motors, Ford, Chrysler, Jeep, UAW, General Motors, Associated Press, Detroit automakers, Deutsche Bank, The New York Times, CNBC Locations: Wall, Silicon

☆ Here are three things we're watching in the markets in the week ahead
▼ + stars: | 2023-09-16 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The Softbank-owned chip designer's return to the public markets — the largest initial public offering since 2021 — was the highlight of the week. Those are the three things that we'll be focusing on in the week ahead. While struggling to snap back after Covid, China this week reported better-than-expected industrial output and stronger retail sales, signaling that things may be looking up. The United Auto Workers strike against Detroit's three biggest automakers will continue in the week ahead, barring a labor deal. ET: Fed Governor Lisa Cook is set to deliver the keynote address at the NBER's Economics of Artificial Intelligence Conference in Toronto, Canada.

Persons: —, Morgan Stanley, Wells Fargo, Jerome Powell's, Jim Cramer, it's, Jim Farley, Stanley Black, Decker, Eli Lilly, Jerome Powell, Mills, Lisa Cook, Jim Cramer's, Jim, Brendan McDermid Brendan Mcdermid Organizations: Nasdaq, Dow Jones, Federal, United Auto Workers, automakers, Fed, West Texas, Saudi, Coterra Energy, Natural Resources, Detroit's, UAW, General Motors, Chrysler, Ford, CNBC, Stanley, Housing, Apogee Enterprise, FedEx, KB, Darden, NBER's, Artificial Intelligence, Jim Cramer's Charitable, Traders, New York Stock Exchange, REUTERS Locations: U.S, Covid, China, WTI, Toronto, Canada, New York City

☆ US stocks drop as investors fret about potential slowdown in semiconductor companies
▼ + stars: | 2023-09-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks fell on Friday as investors fret about a potential slowdown in the semiconductor space. Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments. Investors are also turning their attention to the Federal Reserve's meeting next week. Technology stocks led the decline after Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments amid concerns of a slowdown in the space. It represents the first time in history that employees at the Big 3 — Ford, General Motors, and Stellantis — went on strike at the same time.

Persons: Ford, Stellantis — Organizations: Reuters, Taiwan Semiconductor, Service, iShares Semiconductor, United Auto Workers, Detroit's, General Motors, Dow Jones, Nasdaq Locations: Wall, Silicon

☆ Auto strike could be speed bump for hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +4 min

"While that amount is large in nominal dollar terms, it would not be large enough to tip the economy into recession. In the end, the impact of a such a strike would be modest compared to previous generations," Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

☆ The auto strike at Detroit's Big 3 could be a catalyst for what every American worker fears
▼ + stars: | 2023-09-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The United Auto Workers targeted all three Detroit automakers — General Motors (GM), Chrysler-owner Stellantis (STLA) and Club name Ford (F) — with walkouts for the first time in its history. The union actions — and their ripple effects — have shut down 15% of America's total auto production. President Joe Biden on Friday expressed his support for the UAW , saying union workers have not been sharing fairly in the profits being made by the automakers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. United Auto Workers (UAW) members on a picket line outside the Ford Motor Co. Michigan Assembly plant in Wayne, Michigan, US, on Friday, Sept. 15, 2023.

Persons: Stellantis, —, Jim Farley, it's, Farley, Ford, Joe Biden, Biden, That's, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: United Auto Workers, Detroit, —, Motors, Chrysler, Ford, walkouts, UAW, GM, CNBC, Ford Motor Co, Michigan Assembly, Bloomberg, Getty Locations: U.S, Michigan, Wayne , Michigan

☆ UAW strike could brake hard-driving US economy
▼ + stars: | 2023-09-15 | by ( Dan Burns | ) www.reuters.com time to read: +5 min

"UAW on strike" signs lean against a pile of wood on the picket line outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. RSM estimates the U.S. economy would suffer a modest 0.2% drag to annualized growth of gross domestic product this quarter should the strike action last for a month, Brusuelas said. Other economists offered comparable estimates of the potential drag from a prolonged strike by the Big Three's full union membership. A full-blown strike "could push U.S. payroll growth temporarily negative," Michael Pearce, lead U.S. economist at Oxford Economics, wrote on Wednesday. Pearce also estimated a full strike lasting a month could cut U.S. auto output by nearly a third, much as it did during the 1998 strike.

Persons: Rebecca Cook, Detroit's, Joe Brusuelas, Brusuelas, Michael Pearce, Pearce, Dan Burns, Deepa Babington, Diane Craft Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, General Motors, Ford, United Auto Workers, RSM, Big, Reuters, Federal Reserve, Oxford Economics, Labor, payrolls, Thomson Locations: Hamtramck , Michigan, U.S

And now, Shawn Fain is representing nearly 150,000 auto workers in one of the biggest labor strikes in decades. Referring to Biblical scripture, Fain asked union members: "Are you willing to have faith and move that mountain? The Wednesday before contract expiration, he said UAW members must fight for a better contract "by any means necessary" - one of Malcolm X's most quoted phrases. That six-week strike cost GM $3.6 billion and stressed the finances of UAW members. Company executives have said the UAW's demands will make them uncompetitive as the shift to EVs offsets the profits delivered by the combustion trucks UAW members build.

Persons: Shawn Fain, Rebecca Cook, Malcolm X, Detroit carmakers, Fain, handshakes, Bernie Sanders, they’ve, “, ”, Darwin Segers, Mack, Malcolm X's, Garrett Nelson, Jim Farley, Joe White, Ben Klayman, Eric Cox, Bianca Flowers, David Shepardson, Matthew Lewis, Diane Craft Organizations: United Auto Workers, Ford Motor Michigan, REUTERS, Detroit, Ford Motor, General Motors, Detroit Three, Wall, UAW, GM, CFRA, Teamsters, United Parcel Service, UPS, Hollywood, Company, Ford, CNBC, Thomson Locations: Wayne , Michigan, U.S, Detroit, Hollywood, Chicago, Washington

The UAW strike at three factories owned by General Motors, Ford and Chrysler-owner Stellantis kicked off the most ambitious U.S. industrial labor action in decades. "No one wants a strike, but I respect workers' right to use their options under the collective bargaining" system, Biden said. Labor unions like the UAW - which represents 146,000 workers - are key to Biden's game plan for winning reelection in 2024. "The auto workers are being sold down the river by their leadership," Trump said in the interview with NBC's Meet the Press. Under Trump, auto companies "would likely have gone bankrupt," the Biden campaign said in a statement.

Persons: Joe Biden, Stellantis, Biden, Gene Sperling, Julie Su, Jonathan Ernst, Rights Biden, President Trump, Biden's, Trump, Suzanne Clark, Nandita Bose, Steve Holland, Jarret Renshaw, Susan Heavey, Alison Williams, Jason Neely, Nick Zieminski, Heather Timmons, Deepa Babington Organizations: UAW, General Motors, Ford, Chrysler, Labor, carmakers, Prince George's Community College, REUTERS, Rights, Former U.S, Republican, Biden's, NBC's, Press, Trump, U.S . Chamber of Commerce, Thomson Locations: Pennsylvania, Michigan, U.S, Detroit, Largo , Maryland

☆ Rep. Tim Walberg on UAW strike: We could be a great benefit to them by not intervening
▼ + stars: | 2023-09-15 | 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 EmailRep. Tim Walberg on UAW strike: We could be a great benefit to them by not interveningRep. Debbie Dingell (D-Mich.) and Rep. Tim Walberg (R-Mich.) join 'Squawk Box' to discuss the UAW targeted strike at Detroit's Big 3 automakers, the impact on production, what can be done to resolve the strike, and more.

Persons: Tim Walberg, Debbie Dingell Organizations: UAW, Big

The Friday walkout would start with targeted strikes designed to "create confusion," among automakers, Fain said, leaving the door open for last-minute agreements. Referring to Biblical scripture, Fain asked union members: "Are you willing to have faith and move that mountain? On Wednesday, he told UAW members they must fight for a better contract "by any means necessary" - one of Malcolm X's most quoted phrases. That six-week strike cost GM $3.6 billion and stressed the finances of UAW members. Like the Hollywood unions, the UAW members at the Detroit Three face threats from new technology that a richer contract will not resolve.

Persons: Shawn Fain, Fain, Malcolm X, they’ve, Sen, Bernie Sanders, Malcolm X's, Joe White, Ben Klayman, Bianca Flowers, David Shepardson, Matthew Lewis, Diane Craft Organizations: DETROIT, United Auto Workers, Detroit Three, automakers, General Motors, Ford, Stellantis, UAW, Wall, Detroit, GM, Teamsters, United Parcel Service, UPS, Hollywood, Thomson Locations: Hollywood, Detroit, Chicago, Washington

KANSAS CITY, Mo. (AP) — Given another chance, Chris Jones acknowledged Wednesday that he would have changed the way he approached his holdout with the Kansas City Chiefs, which the All-Pro defensive tackle carried through the offseason, training camp and preseason right through their season-opening loss to the Detroit Lions. It wasn't exactly a view he enjoyed, either, as Kansas City stumbled to a 21-20 loss. “I don't want to go back and forth during the season,” Jones said. Chris is not only a great player but a great person in the locker room,” Chiefs quarterback Patrick Mahomes said.

Persons: —, Chris Jones, Jones, ”, Andy Reid, We'll, ” Reid, ” It's, ” Jones, Aaron Donald, “, Charles Omenihu, Detroit's Jared Goff, Trevor Lawrence, Chris, Patrick Mahomes, Travis Kelce, Reid Organizations: KANSAS CITY, Kansas City Chiefs, Detroit Lions, ” Chiefs, Chiefs, Detroit, Kansas City, Food, Rams, Lions, NFL, Jaguars, Sunday, ” Locations: KANSAS, Mo, Jacksonville, Kansas

DETROIT (AP) — Leaders of the United Auto Workers union are considering targeted strikes at a small number of factories run by each of Detroit's three automakers if they can't reach contract agreements by a Thursday night deadline. At the Tuesday meeting, Fain didn't say whether the union would target vehicle assembly plants or component factories, one of the people said. Strikes at parts plants could force production halts at multiple assembly factories. The union and companies have said they’re willing to talk in an effort to work out deals before the deadline. Yet there was optimism on both sides that they still could reach reach deals before the deadline.

Persons: Shawn Fain, Fain, Ford, “ We’ve, Mark Reuss, ” Reuss, it’s Organizations: DETROIT, —, United Auto Workers, UAW, General Motors, Stellantis, Automotive, U.S, Labor, GM, Ford, Fiat Chrysler Locations: Detroit, Stellantis, Korean

☆ How electric roads could help solve EV range anxiety
▼ + stars: | 2023-09-11 | by ( Liam Mays | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow electric roads could help solve EV range anxietyElectric vehicles are on the rise, capturing a growing market share. Lack of charging infrastructure is a common hurdle but electric road projects, like Detroit's upcoming initiative led by Electreon, offer wireless charging while driving, promising versatile solutions for various vehicles. This innovation could prove vital, especially in rural "charging deserts," as EVs gain popularity, not only for personal use but also in fleet applications, reducing environmental impact.

Persons: Electreon

DETROIT (AP) — Stellantis is reporting progress in talks with the United Auto Workers union with just three days left before contracts expire with Detroit's three automakers. Stellantis released no details of its offer Monday. Political Cartoons View All 1148 ImagesUAW President Shawn Fain on Friday called counter offers from Stellantis, General Motors and Ford inadequate. “When the CEOs are ready to make a serious offer, we’ll be there, day or night,” he said. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%.

Persons: Tobin Williams, Stellantis, ” Williams, “, Shawn Fain, Fain, we’ll, ”, GM’s, we’ve, ” Fain Organizations: DETROIT, United Auto Workers, General Motors, Ford, Fiat Chrysler, France’s PSA Peugeot, UAW Locations: North America, Stellantis, Korean

DETROIT (AP) — Detroit Tigers rookie Reese Olson has pitched six no-hit innings against the Chicago White Sox on Friday night. The closest Chicago has come to a hit was in the sixth, when Yasmani Grandal’s line drive down the right-field line hooked foul. Grandal hit another hard line drive on the next pitch that was caught by centerfielder Parker Meadows. Olson has not thrown a complete game in 86 previous professional starts. He threw shutout ball over a season-high seven innings in his previous start, a 10-0 win at the White Sox on Sept. 2.

Persons: Reese Olson, Yasmani, Grandal, centerfielder Parker, Olson, Daniel Norris . Olson, ___ Organizations: DETROIT, — Detroit Tigers, Chicago White Sox, North Hall, Detroit, White Sox Locations: Chicago, centerfielder Parker Meadows, Milwaukee, Gainesville , Georgia

☆ GM and Ford are facing a 'nightmare situation' that could be great news for Tesla
▼ + stars: | 2023-09-08 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla is already having a banner year for both sales and production. This is all "a potential nightmare situation for GM and Ford," Wedbush analyst Dan Ives said in a note to clients this month. AdvertisementAdvertisement"Tesla does not face similar issues which speaks to the complexity both GM and Ford face going up against the EV leader Tesla, while trying to satisfy rising union demands," Ives said. "If a strike happens then ultimately 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." Raising the stakes for GM and Ford: Tesla is already having a banner year for both sales and production, on track to hit its nearly 2 million-unit production target by the end of the year.

Persons: Tesla, Stellantis, Dan Ives, Ives, Farley, Elon, Barra Organizations: Detroit, Service, United Auto Workers union, UAW, Ford, General Motors, GM, Tesla, EV, Tesla Ford Locations: Wall, Silicon

Biden's Labor Day prediction that the union would not strike against Detroit's automakers ahead of a Sept. 14 contract deadline was soundly rejected by UAW President Shawn Fain. White House Press Secretary Karine Jean-Pierre said Biden's comments about the UAW over Labor Day was him being "an optimistic person." The White House has tried to play a role in several recent large-scale union contract negotiations involving rail workers and West Coast port workers. Trump won Michigan in 2016, helping propel him to the White House; Biden beat him by 154,000 votes in Michigan in 2020. Around half a million more threatened strikes in the first half of 2023, estimates from national labor unions show.

Persons: Joe Biden's, Biden, Biden's, Shawn Fain, Fain, Karine Jean, Pierre, Kate Bronfenbrenner, Donald Trump, Trump, Joe Biden, Joshua Roberts, Harley Shaiken, Shaiken, Nandita Bose, David Shepardson, Joseph White, Heather Timmons, Deepa Babington Organizations: UAW, Biden's Labor, Detroit's, House Press, Labor, General Motors, Ford, carmakers, Anderson Economic, Cornell University's School of Industry & Labor Relations, White House, Wednesday, Workers, Republican, Michigan, State Labor, Metal Workers, Local, REUTERS, University of California, Bureau of Labor Statistics, EV, White, Energy Department, Teamsters, UPS, House, Thomson Locations: Detroit, America, Pennsylvania, Michigan, West Coast, Philadelphia , Pennsylvania, U.S, Berkeley, Michigan , Ohio , Indiana , Illinois, Belvidere , Illinois, Washington

Stanton smashed his 400th home run, Gerrit Cole burnished his Cy Young Award credentials and the New York Yankees beat the Detroit Tigers 5-1 on Tuesday night. Just celebrated that moment with him, and coming in a big spot — tie game late," Yankees manager Aaron Boone said. Miguel Cabrera had an RBI single off Cole in the opener of his final series at Yankee Stadium. Detroit has dropped seven straight at Yankee Stadium since April 30, 2021. NEW KID ON PLANET EARTHPrized rookie Jasson Domínguez went 1 for 4 with an eighth-inning double for New York in his Yankee Stadium debut.

Persons: — Giancarlo Stanton's, Stanton, Gerrit Cole burnished, Cy Young, DJ LeMahieu, Gleyber Torres, “ I’m, Cole, José Cisnero, Mark McGwire, Babe Ruth, Alex Rodriguez, Albert Pujols, Aaron Boone, Stanton —, —, ” Stanton, “, Miguel Cabrera, Cabrera, Jake Rogers, ” Javier Báez, Tommy Kahnle, Jonathan Loáisiga, Clay Holmes, Joey Wentz, Aaron Judge, Torres, ” Rogers, “ We're, Jasson Domínguez, “ It’s, ” Domínguez, he's, Steven Spielberg, Boone, Mariano Rivera, ” Cabrera, Anthony Rizzo, Matt Manning, Clarke Schmidt, ___ Organizations: New York Yankees, Detroit Tigers, Yankees, Yankee, Miami, American League, Detroit, Tigers, EARTH, York, 161st Street Yankee, NEXT Tigers Locations: Detroit, Bronx

☆ Auto workers want 40% pay increases. Analysts worry that will drive up car prices and make it harder for Ford, GM, and Stellantis to compete with Tesla.
▼ + stars: | 2023-08-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Workers at Ford, GM, and Stellantis are fighting the automakers for higher wages. The United Auto Workers union is targeting a 40% wage increase in its ongoing contract negotiations. AdvertisementAdvertisementWorkers at Ford, GM, and Stellantis are fighting for 40% pay increases — but analysts worry that will drive up car prices and ultimately, make it harder for these auto giants to compete with Tesla. The United Auto Workers union fight with Detroit's Big Three carmakers is heating up. Union workers are arguing that they deserve a greater slice of the pie after seeing those COVID-era profits line automaker pockets instead of theirs.

Persons: Detroit's, Kelley, Tesla, Ford Organizations: Ford, GM, United Auto Workers, Morning, Tesla, Dealers, Wedbush Securities, Detroit, Bloomberg Locations: Detroit

☆ MLB roundup: Twins edge Rangers on bases-loaded walk in 13th
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +21 min

Mets 3, Angels 2Rafael Ortega collected the game-winning RBI single in the bottom of the ninth inning as New York edged visiting Los Angeles. Assad (3-2) gave up one run and three hits in seven innings, with seven strikeouts and two walks. Kyle Tucker and Yainer Diaz hit two-run shots, while Mauricio Dubon and Martin Maldonado had solo blasts. Mets 3, Angels 2Rafael Ortega collected the game-winning RBI single in the bottom of the ninth inning as New York edged visiting Los Angeles. Kyle Tucker and Yainer Diaz hit two-run shots, while Mauricio Dubon and Martin Maldonado had solo blasts.

Persons: Royce Lewis, Jeffrey Becker, Michael A, Taylor, Donovan Solano, Jorge Polanco, Max Kepler, Dylan Floro, Jonathan Hernandez, Lewis, Ryan Jeffers, Joey Gallo, Matt Wallner, Carlos Correa, Jonah Heim, Martinez, Marcus Semien, Rafael Ortega, Francisco Alvarez, Reynaldo Lopez, DJ Stewart, Mark Vientos, Ortega, Adam Ottavino, Alvarez, Pete Alonso, Alonso, Daniel Vogelbach, Luis Rengifo, Brandon Lowe, Randy Arozarena, Zack Littell, Jason Adam, Kyle Higashioka, DJ LeMahieu, Anthony Volpe, Jeimer Candelario, Cody Bellinger, Javier Assad, Bellinger, Nico Hoerner, Assad, Ke'Bryan Hayes, Bailey, Patrick Bailey, Rogers, Austin Slater, Tristan Beck, Scott Alexander, Jared Shuster, Marcell Ozuna, Elias Diaz's groundout, Ryan O'Hearn's, Jake Bird, Justin Lawrence, Yennier Cano, Mookie Betts, Freddie Freeman, Betts, James Outman, Gavin Stone, Caleb Ferguson, Justin Turner, Adam Duvall, Triston Casas, Aaron Nola, Louis, Craig, Kyle Schwarber, Drew Rom, Kole, Ramon Laureno's, Calhoun, Laureano, Emmanuel Clase, Jose Ramirez, Vladimir Guerrero Jr, Davis Schneider, George Springer, Jeremy Pena, Kyle Tucker, Yainer Diaz, Mauricio Dubon, Martin Maldonado, Justin Verlander, Miguel Cabrera, Alex Faedo, Jorge Soler slugged, would've, Soler, Rowdy Tellez, Sal Frelick, Adrian Houser, Bryse Wilson, Gary Sanchez, Matthew Batten, Steven Wilson, Teoscar Hernandez, Julio Rodriguez, Luis Castillo, Castillo, Andres Munoz, Nelson Velazquez, Alec Marsh, Mike Clevinger, Yoan Moncada, Tim Anderson, Andrew Benintendi, Andrew Vaughn, Moncada, Paul Blackburn, Media Teoscar Hernandez Organizations: Minnesota Twins, Texas Rangers, USA, Twins, Texas, The Rangers, Mets, New, Angels, Yankees, Tampa Bay, Rays, Cubs, Pirates, Chicago, Pittsburgh, Giants, Braves, Atlanta, Orioles, Baltimore, Rockies, Dodgers, Red Sox, Los, Boston, Phillies, Cardinals, Philadelphia, St, Blue Jays, Cleveland, Toronto, Guardians, Astros, Tigers, Detroit's Comerica, Detroit, Marlins, Nationals, Miami, Washington, The Marlins, National League East, Brewers, Padres, Milwaukee, National League Central, Mariners, Royals, Seattle, Kansas City, American League West, White Sox, Athletics, Oakland, Media, Thomson Locations: Minneapolis , Minnesota, USA, Minneapolis, Texas, Minnesota, York, Los Angeles, New York, St . Petersburg, Fla, Francisco, Colorado, Baltimore, Nola, Detroit, National League East . Washington, San Diego, Chicago

☆ Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
▼ + stars: | 2023-08-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019. "However, with current inventories hovering around only 55 days, the industry looks different than it did during the last UAW strike." The automaker said the strike cost it about $3.6 billion that year in earnings. He said the union has no plans to extend the current contracts to allow for bargaining to continue without a strike, which was previously common practice. AEG's estimates do not include UAW strike pay or assessments for strike pay, unemployment benefits or unemployment taxes, income taxes on wages and other potential effects such as settlement bonuses.

Persons: Sen, Bernie Sanders, Tyler Theile, hasn't, Patrick Anderson, Shawn Fain, Tom Narayan, GM's Organizations: United Auto Workers, General Motors, Hamtramck Assembly, DETROIT, Detroit's Big, UAW, Ford Motor, Anderson Economic Group, AEG, Consumer, Detroit automakers, GM, Automotive Press Association, Ford, RBC Capital Locations: Detroit, Hamtramck, Vermont, Michigan

[1/2] Idled blast furnaces at U.S. Steel Corp's Granite City Works in Granite City, Illinois, U.S. on on July 5, 2017. Two other U.S. rivals, Nucor Corp (NUE.N) and Steel Dynamics Inc (STLD.O), trade at 6.9 times and 5.8 times, respectively, according to Refinitiv data. These two companies' offers both value U.S. steel at 6.2 times its 2024 EBITDA, according to RBC Capital Markets analysts. Unlike blast furnaces, EAFs do not have to be operated at constant rates, allowing them to adjust to fluctuations in steel demand. EAFs also release much less carbon dioxide than blast furnaces, reducing climate-warming emissions.

Persons: David Lawder, EAFs, Joe Biden, Jefferies, David Burritt, Donald Trump, Anirban Sen, David Carnevali, Greg Roumeliotis, Sonali Paul Organizations: . Steel, REUTERS, US Steel, . Steel Corp, Cliffs Inc, Esmark Inc, Reuters, ArcelorMittal SA, Cleveland Cliffs, Nucor Corp, Steel Dynamics Inc, Steel, RBC Capital Markets, U.S, ., Steel's, U.S . Steel, Donald Trump . Supply, Thomson Locations: Granite City, Granite City , Illinois, U.S, Pittsburgh, Cleveland, New York

☆ Tigers' Reese Olson aims to maintain mastery of Twins
▼ + stars: | 2023-08-16 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

August 16 - The American League Central-leading Minnesota Twins will try to complete a two-game series sweep of the Tigers on Wednesday afternoon in Minneapolis. Olson is just 2-5 with a 4.45 ERA in 13 career games (10 starts) but has handled the Twins easily. The homer to right-center off reliever Will Vest was Wallner's ninth of the season and his first major league grand slam. It was the longest grand slam hit by a Twin during the Statcast era (since 2015). Wallner's grand slam took some of the spotlight away from Detroit's Miguel Cabrera.

Persons: Reese Olson, Olson, Rocco Baldelli, Baldelli, Kenta Maeda, Maeda, Riley Greene, Matt Wallner, Will Vest, Wallner, Detroit's Miguel Cabrera, Cabrera, Gary Sheffield, Mel Ott Organizations: American League Central, Minnesota Twins, Tigers, Detroit, Minnesota, Twins, Thomson Locations: Minneapolis, Detroit, Minnesota, Wallner, Forest Lake, Minn

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