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☆ Citadel's Ken Griffin considers selling minority shares whilst handing out political advice to Trump
▼ + stars: | 2024-11-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, billionaire Ken Griffin has some advice for President-elect Donald Trump, including a suggestion for his Treasury pick . While speaking Thursday at the Economic Club of New York, Griffin said he appreciates the importance of those issues to Americans but said aggressive tactics to address them could make things work. Griffin is one of the biggest donors to the Republican Party, but declined to publicly endorse either presidential candidate this year. AdvertisementModeration hasn't been the name of the game for Trump with some of his proposed policies. AdvertisementHe said he'd be open to selling a minority stake in his hedge fund to the right partner.

Persons: it's, Ken Griffin, Donald Trump, Trump Ken Griffin, Mike Blake, Insider's Bradley Saacks, Michelle Abrego, Griffin, Manny Roman, Trump, Marc Rowan, Rowan, Alexander Tamargo, Thoma Bravo Griffin, he'd, Zalubowski, Chelsea Jia Feng, Elon, Paul, Tyson, Megyn Kelly, Tucker Carlson Ron Antonelli, Chip Somodevilla, Rebecca Zisser, Tucker Carlson, Bari Weiss, BI's Peter Kafka, Chris Balfe, Ridley Scott's, You've, Dan DeFrancesco, Jack Sommers, Grace Lett, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Treasury, Trump, Citadel, Milken, Global Conference, Reuters, Economic, of New, Republican Party, Citadel Securities, Sequoia, Millennium Management, BlackRock, Chelsea, Getty, Netflix, Bank of America, NY Daily, Fox News, Auto, Ford, GM, Volkswagen Locations: Beverly Hills , California, U.S, of New York, Montreal, New York, London, Chicago

☆ Auto worker wipeout: Why car companies are cutting thousands of jobs
▼ + stars: | 2024-11-21 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

This is due to unprofitable EV investments, Chinese market losses, and more domestic competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. AdvertisementBut despite that growth — and with EVs accounting for roughly 10% of US auto sales — companies not named Tesla have struggled to make their EV businesses profitable. German carmakers are losing out to Chinese EV upstarts like BYD. Analysts say inventory levels are improving at Stellantis and industry-wide as automakers react to a slower sales environment.

Persons: Ford, Josh Lefkowitz, EVs, That's, Tesla, Tim Levin, Daniel Pier, Stellantis, Price, Donald Trump Organizations: Ford, GM, Volkswagen Group, General Motors, Volkswagen, Silverado, Angeles Auto, EV, Cadillac, VW Group, Geely, VW, Competition Locations: Germany, Cadillac Lyriq, China, United States

☆ Jeep was a hot brand. Then Stellantis priced its fans out of its showrooms
▼ + stars: | 2024-11-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —The Jeep Gladiator was unveiled to great fanfare by then-owner Fiat Chrysler in 2018, the first pickup model for the hot brand in more than a quarter of a century. Gladiator sales have fallen steadily from the 2020 peak as a result and are down another 21% so far this year. The company’s relentless focus on short-term profits for 2023 had devastating consequences for Stellantis, Farris wrote. A car hauler transporting Jeep Wranglers drives past striking United Auto Workers members outside the Stellantis Jeep Plant in Toledo, Ohio, during the 2023 strike. One of the two factories at that assembly complex is about to lose one of the two shifts that builds the Jeep Gladiator.

Persons: Stellantis, Dodge, ”, Jessica Caldwell, Edmunds, “, Charlie Chesbrough, Kevin Farris, Carlos Tavares, Farris, Farris ’, Rebecca Cook, “ You’re, he’s, ” Farris Organizations: New, New York CNN, Fiat Chrysler, Fiat Chrysler’s, PSA Group, Gladiators, General Motors, Ford, Chrysler, Pacifica minivan, Toledo Assembly, Stellantis, Ford Motor, Cox Automotive, Dealers, Council, United Auto Workers, Jeep Wranglers, CNN, Challenger, Cherokee, Renegade Locations: New York, Toledo, Edmunds, Warren , Michigan, Stellantis, Toledo , Ohio

☆ Pro-Palestinian activists’ anger at Democrats hasn’t been dampened by Trump’s election
▼ + stars: | 2024-11-16 | by ( Gregory Krieg | ) edition.cnn.com time to read: +11 min

CNN —For Democratic pro-Palestinian activists, Donald Trump’s reelection delivered a bitter vindication. Led by the Uncommitted National Movement, they spent months pushing and pleading with the Biden administration to scale back its support for Israel’s war in Gaza. “I don’t have any regrets,” Uncommitted spokesman and strategist Waleed Shahid told CNN. After weeks of back-and-forth, on the final night of the confab, party officials inside the United Center told Uncommitted leaders it was a no-go. “The thing I’ve been saying and I will always say is that these uncommitted voters are our voters, they’re our family,” Barnes told CNN at the time.

Persons: Donald Trump’s, Biden, Joe Biden’s, “, ”, James Zogby, Kamala Harris, ” Uncommitted, Lexis Zeidan, Trump “, ” Lexi Zeidan, Trump, Jill Stein, Harris, Harris ’, wasn’t, ” Zeidan, ’, Wa’el Alzayat, Emgage, Alzayat, Wa'el Alzayat, Jose Luis Magana, Mike Huckabee, Tulsi Gabbard, Matt Gaetz, Waleed Shahid, Lavora Barnes, –, ” Barnes, Shawn Fain, Ruwa, Romman, ” Romman, Trump’s, Dalal Baydoun, Stein, Israel, ” Harris, Bill Clinton, ” Clinton, ” Clinton’s, capper, Liz Cheney, Dick Cheney, Donald Trump, ” Shahid, “ it’s, ” Zogby, Zogby, “ There’s, we’re, he’s, CNN’s Danny Freeman, Yon Pomeranz Organizations: CNN —, Democratic, Movement, Black, Arab American Institute and, Democratic National Committee, Trump, CNN, Green Party, Democrat, Democrats, Muslim, Latina, Democratic National Convention, United Center, Michigan Democrats, United Auto Workers, statehouse, West Bank, United Nations, UN Human Rights, State, Defense, Michigan State University Locations: Gaza, Michigan, Dearborn, CNN Dearborn , Michigan, American, Chase , Maryland, Israel, Chicago, Palestinian, Georgia, ”, Arab, Lebanon, East Lansing, Palestine, Iraq

☆ GM lays off 1,000 employees amid reorganization and cost-cutting
▼ + stars: | 2024-11-15 | by ( Michael Wayland | ) www.nbcnews.com time to read: +1 min

DETROIT — General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision. A small number of hourly employees were included in the layoffs. As part of this continuous effort, we’ve made a small number of team reductions. That included about 53,000 U.S. salaried employees. The United Auto Workers union, which represents hourly employees at the automaker, did not immediately respond for comment.

Persons: Kevin Kelly, we’ve, ” Organizations: DETROIT, Motors, GM, United Auto Workers union Locations: Detroit, Warren , Michigan

☆ Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio
▼ + stars: | 2024-11-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A view of the Jeep Plant where United Auto Workers members are picketing on September 18, 2023 in Toledo, Ohio. DETROIT — Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The layoffs will be effective as early as Jan. 5, according to Stellantis. The automaker announced the layoffs in conjunction with required notices to government agencies under the Worker Adjustment and Retraining Notification Act. The United Auto Workers union, which represents Stellantis employees at the plant, did not immediately respond for comment.

Persons: Stellantis Organizations: Jeep, United Auto Workers, DETROIT —, Toledo South Assembly, Worker, United Auto Workers union Locations: Toledo , Ohio, DETROIT, Ohio, Toledo

☆ Democrat Elissa Slotkin will win Michigan Senate seat, CNN projects
▼ + stars: | 2024-11-06 | by ( Alison Main | ) edition.cnn.com time to read: +5 min

CNN —Rep. Elissa Slotkin will win the competitive Michigan Senate race, CNN projects, keeping the seat in Democratic hands and making her the youngest Democratic woman elected to the Senate. Rogers called Slotkin and conceded the race, according to two sources. “Donald Trump and I were both elected by the people of Michigan. The GOP is also looking to defend its narrow majority in the US House of Representatives, though it remains uncalled. Do not trust him,” Slotkin fired back as Rogers vowed in their first debate that he would not defy the will of the Michigan people in Washington.

Persons: Elissa Slotkin, Mike Rogers, Donald Trump, Rogers, “ Donald Trump, Michiganders, Trump’s, ” Slotkin, “, Slotkin, Democratic Sen, Debbie Stabenow, Michigan’s, Trump, ”, Harris, “ It’s, It’s, Wade Organizations: CNN —, Michigan Senate, CNN, Democratic, House Intelligence, Slotkin, GOP, Biden, Michigan Republican, Oxford High School, Michigan State University, 8th, CIA Locations: Michigan, Detroit, Florida, China, Washington, America, Slotkin, Lansing, Stabenow

They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. After negotiations broke down in early July 2023, Atlanta-based UPS reached a contract agreement with the Teamsters just days before an Aug. 1 deadline. The Culinary Workers Union announced on the social platform X that the deal came together after a year of negotiations. The lead up to the tentative agreement included a three-day strike involving 75,000 workers in multiple states. The tentative agreement also included protective terms around subcontracting and outsourcing, as well as initiatives to invest in the current workforce and address a staffing crisis.

Persons: Martin Luther King Jr, Bethany Khan, AFTRA, Longshoremen Organizations: Boeing, International Association of Machinists, Aerospace Workers, Cornell University's School of Industrial and Labor Relations, Cornell, Unions, UAW, Teamsters, Workers, United Auto Workers, Ford, General Motors, UPS, Teamsters UPS, Games, Screen, American Federation of Television, Radio Artists, Las Vegas Resorts, Culinary Workers Union, Las Vegas, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Kaiser Permanente, Health Care Worker Unions Unions, Hollywood Studios, SAG, International Longshoremen’s Association, U.S . Maritime Alliance, Associated Press Locations: Seattle, America, Atlanta, housekeepers, Kaiser, California, U.S, East

☆ Boeing machinists' bumper pay packet is just the latest win for unionized workers
▼ + stars: | 2024-11-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Striking Boeing workers voted in favor of a 38% pay rise. The latest big victory for US labor unions could inspire others despite the tense process. AdvertisementThe machinists' victory is the latest to highlight the power of labor unions in the US. It has been a tense road for the roughly 33,000 unionized Boeing workers who began their strike on September 13. That may only grow more common as workers find inspiration from others' victories, something noted by the president of the Boeing union.

Persons: we've, Joe Biden, —, Gary R, Allen, Julie Su, Brian Bryant Organizations: Boeing, Service, International Association of Machinists, Aerospace Workers, IAM Union, IAM, Territory, machinists, Teamsters, United Auto Workers, National Labor Relations Board, US Locations: Seattle, United States

☆ Ford October vehicle sales increase 15.2% from subdued levels due to labor strike in 2023
▼ + stars: | 2024-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. DETROIT — Ford Motor on Monday reported a 15.2% increase in U.S. new vehicles sales last month compared with subdued levels due to a union strike in October 2023. The automaker's sales gain outpaced the industry's estimated increase of 10% last month compared with a year earlier. Sales of hybrid vehicles, which Ford has been emphasizing amid a slower-than-expected adoption of electric vehicles, were up 38.5% last month compared to October 2023, Ford said. Its EV sales were down by 8.3%, while sales of traditional vehicles with internal combustion engines were up 14.1%Ford's EV sales remain up 38.2% for the year through October compared with the same timeframe in 2023.

Persons: Ford, EVs Organizations: Ford, Ford Dearborn Plant, United Auto Workers, EV, Ford's Locations: Dearborn , Michigan, DETROIT

☆ Meet the Press – November 3, 2024
▼ + stars: | 2024-11-03 | by ( ) www.nbcnews.com time to read: +55 min

KRISTEN WELKER:As the 2024 election nears the finish line, Vice President Kamala Harris and former President Donald Trump make their last appeal to voters. Vice President Harris and former President Trump and their surrogates are making their closing arguments. North Carolina was the state former president Trump won in 2020 by the smallest margin and both candidates held events there on Saturday. I asked, what is his message to women who are thinking about voting for Vice President Harris. Today, Vice President Harris is in Michigan working to shore up the blue wall, her simplest path to winning the White House.

Persons: KRISTEN WELKER, PRES, KAMALA HARRIS, FMR . PRES, DONALD TRUMP, Kamala Harris, Donald Trump, Steve Kornacki, Liz Cheney, Let's, TONY HINCHCLIFFE, Raphael Warnock of, Doug Burgum, Chuck Todd, Cristina Londoño Rooney, Marc Short, Mike Pence, Jen Psaki, Kristen Welker, . PRES, Harris, Trump, Biden, haven't, Will Nikki Haley, hasn’t, Kamala, TIM WALZ, Donald Trump's, SEN, JD VANCE, FMR, MICHELLE OBAMA, She's, Hurricane Helene, NBC's Dasha Burns, DASHA BURNS, Kristen, Ann Selzer, “, we've, Dasha, We're, Alcindor, YAMICHE, STEVE KORNACKI, Harris ., They've, she's, Joe Biden's, Steve, they've, We've, –, Raphael Warnock of Georgia, Warnock, Press . SEN, RAPHAEL WARNOCK, It's, Martin Luther King Jr, Barack Obama, I've, I’ve, we're, They're, Governor Burgum, DOUG BURGUM, Nikki Haley, NIKKI HALEY, they're, Trump's, I'm, he's, Emerson, Iowa that's, I'd, Trump hasn't, It’s, Biden's, There's, Burgum, JEN PSAKI, Chuck, hasn't, CHUCK TODD, who's, – KRISTEN WELKER, she’s, Harris isn't, Jen, that's, Cristina, let's, CRISTINA LONDOÑO ROONEY, They’re, Obama, there's, o’clock, Clinton, JD Vance, RUDOLPH, MAYA RUDOLPH, we'd, Hillary Clinton, Marc, We'll, it's Organizations: FMR, NBC, Puerto Rico, Trump, Democratic, Republican, Washington, Telemundo, Staff, White House Press, Press, Rockefeller, Des Moines Register, NBC News, DONALD TRUMP : Georgia, GOV, TIM, FIRST, United States Capitol, Des Moines, White, Muslim, National, Black, Press ., Ebenezer Baptist Church, New York Times, Central, American, UN, Penn State football, Madison, –, Iowa, Republicans, oversampled, Puerto Ricans, Obama, it's, Democratic Party Locations: America, FMR ., United States, Puerto Rico, Raphael Warnock of Georgia, North Dakota, New York, ., Wisconsin, North Carolina, Pennsylvania, ELON, Hurricane, Greensboro, Iowa, Michigan, Detroit, East Lansing, Dearborn , Michigan, Gaza, Arizona, Des, Washington, Ebenezer, Georgia, Trump's, Puerto Rican, Madison, Korea, Ukraine, Israel, Iran, American, Pennsylvania , Wisconsin, Kansas, Puerto, Puerto Ricans, Trump, , Wisconsin, it's New Hampshire, New Hampshire

☆ Is this the deal to end Boeing’s crippling 7-week strike?
▼ + stars: | 2024-11-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

New York CNN —More than 30,000 Boeing workers will vote again Monday on whether or not to end a crippling seven-week strike. The deal is not significantly different from an offer rejected by nearly two-thirds of membership just over a week ago. And it happened 10 years ago at Boeing, when about two-thirds of members rejected an offer that ended the pension plan. Despite its many problems, Boeing is a major force in America economy, and it is the largest American exporter. Ending the strike is important for Boeing’s new CEO, Kelly Ortberg, who started in the job just five weeks before the strike began.

Persons: it’s, ”, “, John Deere, “ It’s, Brandon Felton, we’ve, Jon Holden, haven’t, ” Holden, you’ve, ’, hasn’t, Lindsey Wasson, Holden, What’s, Max fuselages, David Ryder, they’ve, Kelly Ortberg, Ortberg, “ Ortberg Organizations: New, New York CNN, Boeing, International Association of Machinists, Labor, ” Union, United Auto Workers, CNN, IAM, ”, Anderson Economic Group, Anderson, Reuters, Alaska Airlines Locations: New York, Michigan, Seattle, America

☆ Former Acting U.S. Trade Representative: Trump’s Tariffs Are a Terrible Idea
▼ + stars: | 2024-10-31 | by ( Miriam Sapiro | ) www.usnews.com time to read: +7 min

As a former acting U.S. trade representative who also served on the National Security Council, I’ve engaged in international economic policymaking firsthand. Trump’s main economic idea is to indiscriminately impose tariffs on U.S. trading partners, but it is American importers, exporters and consumers who will pay the price. When Trump last levied tariffs, the EU, Canada, China and other trading partners imposed their own tariffs in retaliation. While President Joe Biden left most of Trump’s tariffs against China in place, he managed to negotiate agreements that led to the easing of many retaliatory measures. As president, Harris would lead an economy that helps everyone, not just those at the very top.

Persons: you’re, it’s, you’ve, Kamala Harris, Donald Trump, I’ve, Harris, Shawn Fain, “, ” Harris, Harris ’, Trump, Smoot, Hawley, Mitch McConnell, “ I’m, Trump’s, Davidson, Joe Biden, Biden Organizations: National Security Council, United Auto Workers, Democratic Party, Republican, Foundation, European Union, Pennsylvania Farm Bureau, ”, Harley, EU Locations: Pennsylvania, Michigan, Wisconsin, America, China, U.S, EU, Canada

☆ Harris vs. Trump: Auto insiders weigh in on both candidates, top issues
▼ + stars: | 2024-10-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Electric vehicles, trade, tariffs, China, emissions regulations and labor are among the top issues automakers are monitoring, according to industry executives and policy experts. Harris vs. TrumpOfficials expect a Harris victory to be a continuation, but not a copy, of the past four years under Biden. Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Republicans, led by Trump, have largely condemned EVs, saying that they are being forced upon consumers and that they will ruin the U.S. automotive industry. LaborOf the many issues regarding the automotive industry, officials who spoke to CNBC were nearly unanimous regarding labor: They're concerned a Harris win would continue to mean increased power for organized labor.

Persons: Bill Pugliano, Kamala Harris, Donald Trump, Joe Biden, Harris, Jefferies, Philippe Houchois, Biden, Shawn Fain, Drew Angerer, Brian Snyder, —, Elon Musk's, Trump, Pablo Di Si, EVs, Harris hasn't, Peter Rawlinson, Rawlinson, That's, Trump's, USMCA, Mary Barra, hasn't, Fain Organizations: Ford, Ford Dearborn Plant, Getty, DETROIT, Motor, Great, Trump, CNBC, Trump Officials, United Auto Workers, Democratic, International Union of Painters, AFP, Republican, Reuters, Motors, Ford Motor, Chrysler, EV, Lucid, Tesla, California Air Resources, D.C, District of Columbia, Alliance for Automotive Innovation, U.S . Officials, IRA Electric, Volkswagen Group of America, Automotive, Republicans, Environmental Protection Agency, . North, North American Free Trade, Jefferies, Labor, Democratic National Convention, UAW Locations: Dearborn , Michigan, Michigan, Motor City, Great Lakes State, China, Macomb , Michigan, California, Hamtramck , Michigan, U.S, Detroit, Washington , Oregon, New York, Washington, . North American, United States, Mexico, Canada, American

☆ Michigan's election fate will depend on laborers. A Democrat and Republican outline what those workers are looking for.
▼ + stars: | 2024-10-27 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

Mark Forton, the GOP chair in Macomb County and former United Auto Workers union member, is out door-knocking for Trump. Both told Business Insider they are especially targeting union workers whose votes have proved decisive in the last few elections. "I think we're going to do very, very well in Macomb County," Forton said. "Macomb County carried the state in 2016," he said, adding of 2024, "we have to do it again." "Those labor union members talking to one another and talking about what's at stake is often what has made the difference in election after election after election," Gilchrist said.

Persons: Garlin Gilchrist, Harris, Mark Forton, —, Donald Trump, Governor Garlin Gilchrist, Walz, Gilchrist, Adam J, Forton, he's, Macomb, — he's, who's, That's, Trump, Ronald Reagan, Gretchen Whitmer, Biden, There's, persuasions who've, It's, Kamala Harris, that's Organizations: Michigan, Gov, Trump, Democratic, Service, Biden, GOP, United Auto Workers, Dewey, Anadolu, Getty, Detroit News, UAW, Workers, Teamsters, Washington Post, Marketing Research, Michigan Teamsters, Labor, wouldn't, Democrat, Republican Locations: Macomb County, Michigan, Macomb, Flint

As President Joe Biden fought to remain in the presidential race this summer, advisers often argued there existed a “Biden coalition” — a cohort only the incumbent could hold together. A coalition of labor groups targeting union members in battleground states is pointing to Biden’s term in office. Coons noted the vice president has campaigned in Pennsylvania’s biggest cities, but also in places like Wilkes-Barre, Johnstown and Erie to reach the kinds of voters Biden has long considered his base. And for some voters whom Biden won in 2020, the message has shifted away from being about him. The union has held rallies and other organizing events there and in Michigan, Wisconsin and Nevada targeting its own and other union members.

Persons: Joe Biden, ”, Kamala Harris, Donald Trump, Sen, Bernie Sanders, Trump, Biden, Tim Walz, Harris ’, Biden’s, Walz, ” Walz, Chris Coons, “ Kamala Harris, Harris, Coons, ” Coons, ” Harris, …, Randi Weingarten, ” Weingarten, aren’t, “, we’ve, “ We’ve, ’, Harris —, Sanders, Harris “, Shawn Fain, Lisa Blunt Rochester, “ Biden, Harris’s, Andrew Bates Organizations: Biden, Democratic, Harris, Major League Baseball, American Federation of Teachers, Task Force, Organizing, Empowerment, Trump, Republican, Culinary, United Auto Workers Locations: Pennsylvania, Minnesota, Scranton , Pennsylvania, Arizona, Lansing , Michigan, Pennsylvania’s, Wilkes, Barre , Johnstown, Erie, Scranton, Scranton that’s, New Hampshire, Nevada, Michigan, Pittsburgh, LIUNA, Michigan , Wisconsin, Wisconsin, Delaware

Their memories are so short,” the man said, incredulous that any union member in Wisconsin is now backing Trump. Teamsters members who backed Harris carried out what’s considered by the campaign to be among the most persuasive of arguments: those made peer to peer. After the news broke that the national organization wouldn’t endorse Harris, however, local Teamsters groups, including many of the largest, swiftly backed Harris. Trump’s a scab!”The United Auto Workers union, which has a vast representation in the swing state of Michigan, has also put its weight behind Harris. It’s my tax money going to union workers,” Jones said.

Persons: Kamala Harris, Scott Walker’s, Donald Trump, “, Trump, ”, Harris, Tim Walz, Democratic Sen, Tammy Baldwin, what’s, Elon Musk, ” Josh Orton, Harris ’, Bill Carroll, Mandel Ngan, Sean O’Brien, Joe Biden, Karoline Leavitt, ” Leavitt, Leavitt, Jim Ridderbush, ” Ridderbush, didn’t, Shawn Fain, Biden, John A, Daniel Jones, “ That’s, ” Jones, “ Donald Trump, he’d, Scott Walker, Tesla, “ I’m Trump, ” Jacob Ralph, Lori Jensen, Sean O’Brien didn’t, Sean, “ I’ll Organizations: Teamsters, Republican Gov, Gov, Democratic, Trump, NBC News, Getty, International Brotherhood of Teamsters, United Food, Commercial Workers, “, United Auto Workers union, Biden, Neenah Locations: OSHKOSH, Wisconsin, Foxconn, Michigan, Pennsylvania, Madison, Wis, AFP, Green Bay, Oshkosh, Duluth , Minnesota, Superior , Wisconsin

☆ How things went from bad to worse for Jeep-owner Stellantis
▼ + stars: | 2024-10-24 | by ( Nora Naughton | ) www.businessinsider.com time to read: +6 min

After months of that mounting pressure — plus an investor lawsuit — Stellantis confirmed that Tavares would retire after his contract expires in early 2026. A Stellantis spokesperson said the investor lawsuit is without merit, and the company plans to "vigorously defend itself." "If a customer has an older Stellantis product, the odds of buying a new one are very, very diminished, especially compared to the rest of the industry," Drury said. Stellantis, in return, has filed a lawsuit accusing the union of violating the contract with its strike authorization votes. AdvertisementAfter a historic strike at all three Detroit car companies last fall, the UAW won the right to strike over product commitments.

Persons: Carlos Tavares, Tavares, —, Stellantis, — Stellantis, Kevin Farrish, Dave Kelleher, Kelleher, Jeep, Dodge, Ivan Drury, Edmunds, Drury, Carlos, Shawn Fain Organizations: Investors, Service, Fiat Chrysler Automobiles, France's PSA Groupe, United Auto Workers, UAW, Chrysler, Dodge, Stellantis, Renegade, Cherokees, Hyundai, Cox Automotive, Detroit, Cherokee Locations: North America, Portuguese, Pennsylvania, Illinois

☆ Republican EV attacks are flooding Michigan, putting Democrats on the defensive in a critical battleground
▼ + stars: | 2024-10-24 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

EV supporters point to dozens of new EV and battery plants announced in Michigan in the last two years. Political strategists told Business Insider that the anti-EV messaging was drowning out positive ones in Michigan, putting Democrats on the defensive in a critical battleground. "We've run some advertising trying to make the massive surge of new EV manufacturing at jobs in Michigan famous, because nobody knows about them," Murphy said. But that analysis didn't account for jobs created by new EV and battery manufacturing plants popping up across the country. Democrats are hitting back on Republicans' EV attacks, arguing that the US has to build its own domestic EV manufacturing base to compete with China.

Persons: —, Donald Trump, Mike Rogers, Kamala Harris, EVs, they've, Mike Murphy, Murphy, Biden, Murphy's, Rogers, Harris, Shawn Fain, Trump, Sen, JD Vance, Fain, POLITICO's, Elissa Slotkin Organizations: EV, Service, Michigan Republican, Senate, Trump, Republicans, Biden, Environmental Protection Agency, Washington Post, Policy Institute, United Auto Workers, E News, Republican National Committee, Democratic, Rogers Locations: Michigan, China, North Carolina, Georgia, Europe, South America

☆ Boeing’s turnaround just got even harder. Here’s why
▼ + stars: | 2024-10-24 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

Members of the International Association of Machinists just rejected Boeing’s offer to return to work after a bruising six weeks of strike action. But with 64% of IAM members voting no on the company’s latest offer, getting a once-great American company back on track appears harder than ever. Our members haven’t forgotten that.”Why traditional pension plans matterTraditional pensions are what’s known as defined benefit plans. Traditional pension plans are “one of the hallmarks of retirement security,” Holden said Wednesday night. But he said so far in negotiations Boeing hasn’t entertained any kind of return to a pension plan.

Persons: Kelly Ortberg, Lindsey Wasson, ” Jon Holden, haven’t, ” Holden, It’s, ” Nataleen Anderson, Stellantis, John Lawler, Max, ”, “, Holden, Boeing hasn’t, they’re, Ortberg, Marian Lockhart, “ We’re, We’ve Organizations: New, New York CNN, Boeing, International Association of Machinists, Poor’s, —, IAM, Volunteers, Research, CNN, KIRO, United Auto Workers, General Motors, Ford, Chrysler, GM, Reuters Locations: New York, Washington, Seattle, Everett , Washington

☆ GM’s profit nears a record a year after saying it couldn’t afford its workers’ pay demands
▼ + stars: | 2024-10-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

That means GM is selling cars at higher average prices this year than it was in 2023. During the strike, the UAW’s slogan on the picket lines was that record profits should result in a record contract. Its new guidance suggests that the full-year earnings will now top the record profit of 2022. The strong results and guidance sent shares of GM (GM) up 2% in premarket trading. GM CFO Paul Jacobson on Monday told reporters that GM cut costs ahead of the strike in anticipation of pay raises for its unionized workers.

Persons: Paul Jacobson, “ We’ve, ”, “, ” Jacobson Organizations: New, New York CNN —, Motors, United Auto Workers, Revenue, GM, couldn’t, nonunion, UAW Locations: New York, –, North America, Monday’s, China

CNN —Vice President Kamala Harris and former President Donald Trump collided Friday in Michigan, both barnstorming the state as they wage a tight battle for its potentially decisive 15 Electoral College votes. He said he’d boost American auto manufacturing by slapping steep tariffs on imported vehicles. Rebecca Cook/ReutersBattle for Arab American votersTrump on Friday visited a campaign office in Hamtramck, which has a large Muslim and Arab American population. Trump has courted auto workers in Michigan with pledges to impose steep tariffs on vehicles imported from Mexico and China. Detroiters don’t give up on each other or their city, something Donald Trump will never understand,” Whitmer says in the 30-second spot.

Persons: Kamala Harris, Donald Trump, ’, Harris, Trump, Joe Biden, ” Trump, Biden, Hillary Clinton, Rebecca Cook, Amer Ghalib, Benjamin Netanyahu, ”, ” Harris, Assad Turfe, Yahya Sinwar, “, Shawn Fain, “ He’s, Reuters Trump, he’d, Trump’s, Gretchen Whitmer’s, “ Donald Trump, Detroiters don’t, ” Whitmer, Detroit “, CNN’s Ali, Ethan Cohen Organizations: CNN, Electoral, Trump, White House, Michigan, Biden, Democratic, Michigan —, Reuters, Arab American voters Trump, United Auto Workers, Motor, Economic, ” Michigan Democratic Gov, Hell PAC, Detroit Locations: Michigan, Oakland County, Detroit, Waterford Township, Grand Rapids, Western Michigan, Kent County, Lansing, Auburn Hills, . Michigan, Pennsylvania, Wisconsin, Gaza, Waterford Township , Michigan, Hamtramck, Arab, Wayne County, Lebanon, Israel, Mexico, China, America

In Michigan, Trade Policies and the Water Crisis Loom Large for VotersGenesee County, Mich., home to Flint and the birthplace of General Motors, has been loyal to the Democratic Party for decades. In and around Flint, voters from both parties described feeling let down by corporations, especially auto companies, and by their political leaders. But interviews with more than 20 people across Genesee County also showed that voters still had doubts about Ms. Harris. I think that she is more so focused I think that she is more so focused on being a personality. Scroll to play video Muted Charles H. Knox Sr. Charles H. Knox Sr.

Persons: Dylan Luna Dylan Luna Ken Snyder Ken Snyder Charles H, Knox Sr, Charles H, Dylan Luna Dylan Luna Meredith Davis Meredith Davis, Ken Snyder Ken Snyder Corie, Michael Aversa Michael Aversa Corie, Foor Meredith Davis Meredith Davis Isabelle Snyder Isabelle Snyder Michael Aversa Michael Aversa Ken Snyder Ken Snyder Charles H, Ken Snyder Ken Snyder Meredith Davis Meredith Davis, Corie, Ken Snyder Ken Snyder Meredith Davis Meredith Davis Charles H, Knox, ”, “ It’s, “, ” “, ” It’s, I’ve, Kamala Harris, Harris, Donald J, Trump, Ken Snyder Ken Snyder Meredith Davis Meredith Davis Michael Aversa Michael Aversa Charles H, Dylan Luna, Dylan Luna Flint Board of Education Dylan Luna, Dylan Luna Flint Board of Education Dylan Luna Flint Board of Education Charles H, It’s, we’ve, ” “ MAGA, MAGA, “ MAGA, ’, Tyonna McIntyre Tyonna McIntyre, Ken Snyder Ken Snyder Michael Aversa Michael Aversa Dylan Luna Dylan Luna Michael Aversa Michael Aversa Meredith Davis Meredith Davis Isabelle Snyder Isabelle Snyder Corie, Michael Aversa Michael Aversa Meredith Davis Meredith Davis, Ken Snyder Ken Snyder Charles H, Michael Aversa Michael Aversa Charles H, “ The, Flint, Art Reyes “, Art Reyes, Bill Bain Bill Bain, Hillary Clinton, Bain, ” Mr, Mandy Christle Mandy Christle, Christle, Isabelle Snyder Isabelle Snyder Meredith Davis Meredith Davis Ken Snyder Ken Snyder Michael Aversa Michael Aversa Corie, Corie Foor Dylan Luna Dylan Luna Charles H, it’s, Dixon, Northerners, ‘, There’s, ” There’s, MaryAnn Pietrzyk, Barack Obama Organizations: General Motors, Democratic Party, “, Flint, Republican, Democratic, Black, Dylan Luna Flint Board of Education, Dylan Luna Flint Board of Education Dylan Luna Flint Board of Education, Trump, Aldi, Kroger, Auto Industry, Biden, “ The Biden, Democrats, Motors, GMC, Republicans, Benz, GM, United Auto Workers, North American Free Trade, Mr, Mason Locations: Michigan, Genesee County, Mich, Flint, ”, America, Genesee, carmaking, Canada, Mexico, American

☆ Stellantis to sell, shutter large testing facility amid cost-cutting efforts
▼ + stars: | 2024-10-18 | by ( Michael Wayland | Robert Ferris | ) www.nbcnews.com time to read: +4 min

DETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned. The Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona. As of July 2019, the operations employed 69 people, including workers represented by a local chapter of the UAW, according to the automaker. Stellantis plans to use a proving grounds in Arizona owned by Toyota Motor beginning next year, according to two people familiar with the decision. Stellantis’ other major U.S. proving grounds facility is a 4,000-acre campus located west of Detroit in Chelsea, Michigan.

Persons: Carlos Tavares, Stellantis, “ Stellantis, ”, Gretchen Whitmer, Tavares ’ Organizations: DETROIT, CNBC, Atlantic, Wall Street, United Auto Workers, Chrysler, Ford Motor, UAW, Toyota Motor, Toyota, Stellantis, Michigan Gov, General Motors, Ford, Bloomberg Locations: Arizona, Phoenix, Las Vegas, Yucca , Arizona, Detroit, Chelsea , Michigan, Auburn Hills , Michigan, North America, Brazil, India, Mexico, U.S, Europe

Nathan Laine | Bloomberg | Getty ImagesDETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned. The Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona. Stellantis plans to use a proving grounds in Arizona owned by Toyota Motor beginning next year, according to two people familiar with the decision. Stellantis Chrysler Arizona Proving Grounds Source: Google EarthStellantis confirmed the closure Friday morning, citing the company's ongoing cost-cutting and real estate evaluations. Stellantis' other major U.S. proving grounds facility is a 4,000-acre campus located west of Detroit in Chelsea, Michigan.

Persons: Carlos Tavares, Nathan Laine, Stellantis, Tavares, Gretchen Whitmer Organizations: Stellantis NV, Bloomberg, Getty, DETROIT, CNBC, Atlantic, Wall Street, United Auto Workers, Chrysler, Ford Motor, Toyota Motor, Toyota, Stellantis Chrysler, UAW, The UAW, Stellantis, Michigan Gov Locations: Sochaux, France, Arizona, Phoenix, Las Vegas, Yucca , Arizona, Stellantis Chrysler Arizona, Detroit, Chelsea , Michigan, Auburn Hills , Michigan

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