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☆ What investors should know about the UAW's organizing drive of VW
▼ + stars: | 2024-04-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

"We're going to carry this fight on to Mercedes and everywhere else," Fain told VW workers Friday night following the historic vote. Impact on labor costsTop of the list of likely impacts from organizing efforts at VW is labor costs. But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive. GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW. Fain on Friday said "the real fight begins now," referring to the expected negotiations between the union and VW.

Persons: Elijah Nouvelage, Alex Hertel, Fernandez, It's, Shawn Fain, Kelcey Smith, Kevin Wurm, Fain, Let's, Joe Biden, Evelyn Hockstein, there's, – Organizations: Volkswagen, Getty, DETROIT, United Auto Workers, UAW, Detroit union's, U.S . Department of Labor, Columbia University, Union, National Labor Relations Board, NLRB, VW, General Motors, Ford Motor, Chrysler, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volvo, Washington Post, Workers, Mercedes, UBS, Big Three Detroit automakers —, GM, Ford, Chamber, U.S, Capitol, Reuters Locations: Chattanooga , Tennessee, U.S, Vance , Alabama, Chattanooga, Washington , U.S, Detroit

☆ VW Workers Seek Union Vote at Tennessee Plant for Third Time
▼ + stars: | 2024-03-18 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Volkswagen employees in Tennessee who are hoping to join the United Automobile Workers asked a federal agency on Monday to hold an election, a key step toward the union’s longtime goal of organizing nonunion factories across the South. With the union’s backing, Volkswagen workers filed a petition with the National Labor Relations Board asking for a vote on U.A.W. representation, saying that more than 70 percent of the 4,000 eligible workers at the plant had signed cards supporting the union. “Today, we are one step closer to making a good job at Volkswagen into a great career,” Isaac Meadows, an assembly worker at the plant, said in a statement. If held, an election would be the first test of the U.A.W.’s newfound strength after staging a wave of strikes in the fall against the three Detroit automakers — General Motors, Ford Motor and Stellantis — and winning record wage increases.

Persons: ” Isaac Meadows, ’, — Organizations: United Automobile Workers, Volkswagen, National Labor Relations Board, “, Detroit, —, Motors, Ford Motor Locations: Tennessee

☆ CarMax CEO says it's 'a little early' to see how the UAW strikes will impact business
▼ + stars: | 2023-10-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CEO of used-car retailer CarMax , Bill Nash, told CNBC's Jim Cramer it's "a little early" to tell what effect the United Autoworkers Union strike will have on his company's business. "I think as far as the UAW strike [is concerned], it's a little early to tell the impact it's going to have on the business — you know, it really depends on how long it goes, and if there's going to be an expansion," Nash said. The UAW began its strike on three Detroit automakers — Ford Motor , Stellantis and General Motors — last month. CarMax will continue to monitor the strike, Nash said, but added so far it hasn't played into the overall industry. Nash also discussed how inflation and high interest rates are affecting customers looking to buy both newer and older models.

Persons: Bill Nash, CNBC's Jim Cramer it's, Nash, Motors —, CarMax, hasn't Organizations: United Autoworkers Union, UAW, Detroit, Ford

☆ The 40-hour workweek started with autoworkers—now they're trying to make 32 hours the new norm
▼ + stars: | 2023-09-19 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

United Auto Workers (UAW) members on a picket line outside the Stellantis NV Toledo Assembly Complex in Toldeo, Ohio, US, on Monday, Sept. 18, 2023. Thousands of United Auto Workers members are striking against three major Detroit automakers — Ford, GM and Stellantis — at plants across the U.S. Autoworkers at Ford Motor Company were among the first to adopt a five-day, 40-hour workweek in 1926 at a time when people regularly topped 100 hours per week. By 1938, the Fair Labor Standards Act cut the workweek to 44 hours, then down to 40 hours two years later. "I think it will move the public toward thinking the four-day workweek is the appropriate workweek," Creighton says.

Persons: —, Stellantis, Shawn Fain, That's, Cathy Creighton, they'd, Jonathan Cutler, Creighton Organizations: United Auto Workers, UAW, Stellantis NV, Detroit, — Ford, GM, Labor, Cornell University's Industrial, Labor Relations Buffalo Co, National Labor Relations Board, Ford Motor Company, Fair Labor, Wesleyan University, NPR, Cathy Creighton Cornell University ILR Locations: Stellantis NV Toledo, Toldeo , Ohio, U.S

☆ A core frustration unites striking workers: Exorbitant CEO pay
▼ + stars: | 2023-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Exorbitant CEO pay is a frustration shared by Hollywood creatives and Detroit autoworkers alike. Since 1978, the CEO compensation among America’s 300 biggest companies has gone up 1,460%, while the typical worker’s pay grew by just 18% (both adjusted for inflation), according to the Economic Policy Institute, a progressive think tank. Over the same period, CEO pay at the Big Three Detroit automakers — GM, Ford and Chrysler parent Stellantis — has jumped an average of 40%, or roughly how much of a raise striking workers are now demanding. But a company’s profit depends not only on bringing in hearty revenue, but also on keeping costs — including workers’ pay — low. CEO pay went up 40%… No one had any complaints about that, but God forbid the workers ask for their fair share,” he told CNN’s Jake Tapper last week.

Persons: New York CNN —, Hollywood creatives, Barack Obama, Adam S, Hersh, —, Mary Barra, Barra, Carlos Tavares, Jim Farley, Michael M, Shawn Fain, ”, CNN’s Jake Tapper, ’, ” Hersh, “, CNN’s Chris Isidore Organizations: New, New York CNN, Workers, Hollywood, Detroit, Economic Policy Institute, Chrysler, GM, Big Three Detroit, — GM, Ford, CNN, Guild of America, Los Angeles Times, UAW, “, EV Locations: New York, America, Barra, American, Kentucky, Tennessee

☆ Cramer: The 4 fears that are upsetting the market and what needs to happen next
▼ + stars: | 2023-09-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

Nike, under CEO John Donahoe, continued its total dominance that it had under previous leaders Mark Parker and Phil Knight. I really, really like Starbucks CEO Laxman Narasimhan and we are going to see a very strong executive make decisions now that Howard is gone. Apple weakness just casts a pall over everything. We have had weakness in the banks on fears of more regulation and that's only getting worse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Let's, John Donahoe, Mark Parker, Phil Knight, It's, Armour, Nike's, Locker, Mary Dillon, Kevin Johnson, Howard Schultz, Schultz, Bob Iger, Robert Chapek —, Johnson, Chapek, Laxman Narasimhan, Howard, Gina Raimondo, Apple —, Stellantis, Joe Biden, Shawn Fain, Safra, Marc Benioff couldn't, LEN, Darden, it's, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Nike, Adidas, Armour, Dick's Sporting, China, Disney, Apple, Micron, Qualcomm, Starbucks, United Auto Workers, Detroit, —, Motors, Chrysler, Ford, walkouts, U.S, UAW, Oracle, Marriott, Booking Holdings, Federal, FedEx, KB, Jim Cramer's Charitable, CNBC, General Motors, Big, Getty Locations: China, Europe, American, United States, Oracle's, Detroit , Michigan

☆ 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

☆ Here Are the Plants Where U.A.W. Strikes Are Happening
▼ + stars: | 2023-09-15 | by ( Lazaro Gamio | Eli Murray | ) www.nytimes.com time to read: +2 min

Here Are the Plants Where U.A.W. Strikes Are HappeningWentzville Assembly Plant 3,600 workers Michigan Assembly Plant 3,300 workers Toledo Assembly Complex 5,800 workers Wentzville Assembly Plant 3,600 workers Michigan Assembly Plant 3,300 workers Toledo Assembly Complex 5,800 workers Ala. Alaska Ariz. Ark. The three plants represent only a small portion of the unionized factories of G.M., Ford and Stellantis across the United States, and less than 10 percent of those companies’ 150,000 U.A.W. Company Plant Workers Ford Michigan Assembly Plant Wayne, MI 3,300 Stellantis Toledo Assembly Complex Toledo, OH 5,800 GM Wentzville Assembly Plant Wentzville, MO 3,600 Sources: Company websites (plant locations); U.A.W. The strikes are affecting plants owned by each of the three U.S. automakers — a change in tactics from previous U.A.W.

Persons: Iowa Kan Organizations: Plant, Hawaii Idaho Ill, N.D . Ohio Okla, New York Times, United Automobile Workers, Detroit, —, Motors, Ford Motor, Chrysler —, Ford, Company Plant Workers Ford, Company Plant Workers Ford Michigan Assembly Plant, Wentzville Locations: Michigan, Toledo, Ala, Alaska, Calif, Colo, Conn, Del, Fla . Ga, Hawaii Idaho, Ind, Iowa, Ky, La . Maine Md, Mass, Mich, Minn, Miss, Mo, Mont, Neb, N.H . N.J, N.M, N.Y, N.C, N.D . Ohio, N.D . Ohio Okla ., Pa, S.D . Tenn . Texas Utah, Va, Wash, W.Va . Wis, Wyo, Midwest, G.M, United States, Company Plant Workers Ford Michigan, Company Plant Workers Ford Michigan Assembly Plant Wayne, MI

☆ U.A.W. Prepares for Partial Strike Against Detroit Automakers on Friday
▼ + stars: | 2023-09-13 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Barely 24 hours before the contract deadline, the United Auto Workers leader said Wednesday that his members were prepared for a strike against the three Detroit automakers — first at a limited number of factories, with the walkout expanding if talks remain bogged down. “September 14 is a deadline, not a reference point,” he declared in an address to union members on Facebook Live. He said the initial strike locations would be “limited and targeted,” and would be communicated to members on Thursday night ahead of a Friday walkout. This tactic — a departure from the union’s usual strategy of staging an all-out strike against a single automaker chosen as a target — is intended to give the U.A.W. negotiators increased leverage in the talks, and to keep the manufacturers off balance.

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

☆ Jim Cramer says 'watch Ford as a barometer' of potential United Auto Workers strike risk
▼ + stars: | 2023-09-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Ford Motor 's (F) stock may offer clues into Wall Street's current attitude toward potential strikes by the United Auto Workers union, CNBC's Jim Cramer said Wednesday. The UAW has been negotiating new contracts for its 146,000 members with the three Detroit automakers — Ford, General Motors (GM) and Jeep-owner Stellantis (STLA). "I want to watch Ford as a barometer," Cramer said on "Squawk on the Street." The UAW also may decide to implement targeted strikes at certain plants, CNBC reported Tuesday night, citing union officials. In an interview earlier Wednesday on CNBC, UAW President Shawn Fain was asked whether Ford, which employs the most UAW members of the Detroit Three, was the least likely to be struck.

Persons: CNBC's Jim Cramer, —, Stellantis, Ford, Cramer, Jim Cramer's, he's, Shawn Fain, Fain Organizations: Ford, United Auto Workers, UAW, Detroit, — Ford, General Motors, CNBC, Cramer's Charitable Trust, Club, UBS, GM Locations: Cramer's

☆ 10 auto industry predictions for investors to keep an eye on this year
▼ + stars: | 2023-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Cox has 10 predictions for the U.S. auto industry this year that point to such an outcome. "This is actually where we think the majority of growth will be in new vehicle sales in '23," Smoke said. Cox forecasts U.S. new vehicle sales will be 14.1 million in 2023, a slight increase from nearly 13.9 million last year. New vehicle inventory levels will continue to increaseExpectations for lower demand come as the automotive industry is slowly increasing its production of vehicles, leading to higher inventory levels. Inventory levels the past two years were at record lows due to supply chain and parts problems affecting production.

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