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☆ Ford also faces strike at Canadian plants Monday night
▼ + stars: | 2023-09-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Unifor, the union that represents autoworkers in Canada, is preparing to go on strike against Ford on Monday night. The 3,400 Unifor members at the plant produce the Ford Edge and the Lincoln Nautilus SUVs. The two plants have a total of 1,700 Unifor members. It has not had a US strike since 1978, nor a Canadian strike since 1990. But Payne said her members at Ford are prepared to strike Monday night if the company doesn’t step up to its demands.

Persons: Ford, Lana Payne, “ We’re, ” Payne, –, Jeff Schuster, ”, Payne, she’s, Unifor, ” Ford Organizations: New, New York CNN, United Auto Workers, Ford, CNN, UAW, Ford Edge, Lincoln Nautilus, Nautilus, – Ford, General Motors, North American, Jeep, Dodge, Chrysler, GlobalData, GM, Canadian, US Locations: New York, Canada, Toronto, Oakville , Ontario, Windsor , Ontario, Detroit, Windsor, Warren , Michigan, United States, Mexico, America

☆ UAW cites 'productive' talks with Ford on second day of US auto strike
▼ + stars: | 2023-09-16 | by ( David Shepardson | ) www.reuters.com time to read: +5 min

About 12,700 UAW workers remained on strike for a second day as part of a coordinated labor action targeting three U.S. assembly plants - one at each of the Detroit Three automakers. However, the UAW comment about the tenor of talks at Ford was more positive than the union's characterization of progress ahead of the kickoff of the strikes. "As we have said all along, Ford has bet on the UAW more than any other company. We are committed to reaching an agreement with UAW that rewards our workers and allows Ford to invest in the future. GM said on Thursday the UAW wage and benefits proposals would cost it $100 billion, while Ford's Farley said the a 40% UAW wage hike would "put us out of business."

Persons: Stellantis, Jim Farley, Ford, Mark Truby, Mark Stewart, Stewart, Shawn Fain, Fain, Ford's Farley, Joe Biden, David Shepardson, Joseph White, Paul Simao Organizations: United Auto Workers, Ford, Chrysler, UAW, Detroit Three automakers, Union, General Motors, GM, North American, Ford Bronco, Chevrolet, Thomson Locations: Illinois, Belvidere , Illinois, Michigan , Ohio, Missouri, Chevrolet Colorado, Michigan, Kansas, Toledo , Ohio

☆ Explainer: UAW strikes target Detroit Three automakers
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 16 (Reuters) - The United Auto Workers (UAW) union on Friday launched strikes at three U.S. auto plants after failing to reach an agreement over new contracts, the first-ever simultaneous labor action against the Detroit Three automakers. Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers in past years had gone on until the strike deadline and beyond. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike. The walkout on Friday was smaller than some analysts expected, with only three auto plants in Michigan, Ohio and Missouri targeted.

Persons: Andrew Kelly, Shawn Fain, Stellantis, Fain, Biden, Tesla, GM's, Nathan Gomes, Paul Simao, Sriraj Kalluvila, Diane Craft Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three automakers, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, FROM, GM, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Ford Bronco, Chevrolet, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Bengaluru, Washington

☆ UAW, automakers resume labor talks; Stellantis hikes wage offer
▼ + stars: | 2023-09-16 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The four-year labor deal between the union and General Motors (GM.N), Ford Motor (F.N) and Chrysler-parent Stellantis expired at 11:59 p.m. EDT on Thursday. Stellantis said on Saturday it has hiked its offer, proposing cumulative raises of nearly 21% over a four-and-a-half-year contract term, including an immediate 10% hike. GM and Ford are also offering wage hikes of 20% over the same period. The union is demanding higher wages, shorter work weeks, restoration of defined benefit pensions and stronger job security as automakers make the EV shift. Stellantis said it is offering more than $1 billion in retirement security improvements and other increases in benefits.

Persons: Stellantis, Ford, Shawn Fain, Fain, David Shepardson, Paul Simao Organizations: United Auto Workers, Detroit Three, General Motors, Ford Motor, Chrysler, GM, Ford, Ford Bronco, Chevrolet, UAW, Thomson Locations: Chevrolet Colorado, Michigan, Kansas, Missouri

The truth is we are going to wreck the billionaire economy," said UAW President Shawn Fain. UAW vice president Chuck Browning, who is leading talks with Ford, told a rally of hundreds of UAW workers in downtown Detroit on Friday afternoon that recent talks have made "good progress, but we have far to go." Striking workers said "tier two" employees can make only half the hourly wages of senior UAW workers and get worse benefits. GM said on Thursday the UAW wage and benefits proposals would cost the automaker $100 billion, but did not elaborate. Biden's likely opponent, former president Donald Trump, on Friday criticized the shift to EVs as a job-killer for the UAW.

Persons: Ford, We’re, Shawn Fain, Chuck Browning, Joe Biden, Bruce Baumhower, Rebecca Cook, Arthur Wheaton, Jim Farley, Mary Barra, Bernie Sanders, “, Sofus Nielsen, Biden, Julie Su, Gene Sperling, White, Stellantis, Fain, Biden's, Donald Trump, Joseph White, Kevin Krolicki, David Shepardson, Steve Holland, Mehr Bedi, David Gaffen, Peter Henderson, Matthew Lewis, Chris Reese Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, Chrysler, Ford Bronco, Chevrolet, UAW, Ford, Detroit, Ford Michigan Assembly Plant, REUTERS, Cornell's School of Industrial, Labor, CBS, Reuters Graphics, Tesla, GM, Thomson Locations: Chevrolet Colorado, Kansas, Detroit, Toledo , Ohio, Wayne , Michigan, Barra, Wayne, Milan, Washington, Bengaluru

☆ 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

☆ Stellantis offers raises, inflation protection measures to UAW as strikes continue
▼ + stars: | 2023-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

The standoff between the UAW and major automakers Stellantis, Ford and General Motors reached a fever pitch Friday, with the union starting work stoppages after an agreement wasn't met by a Thursday night deadline. UAW President Shawn Fain said earlier this week that Stellantis had previously offered a 17.5% increase. Under the new proposal, starting pay for supplemental employees would increase by $4.22, or nearly 27%, to $20 an hour. Stellantis leadership also pushed back against the union's descriptions of the automaker's plans to close or sell 18 facilities. The company has said it aims to run parts distribution centers more efficiently and continue shifting resources toward electric vehicles.

Persons: Stellantis, Mark Stewart, General Motors, wasn't, walkouts, Shawn Fain, Ford, Jim Farley, Stewart, Joe Biden, — CNBC's Michael Wayland Organizations: United Auto Workers, Detroit, Ford, General Motors, UAW, General, GM, CNBC

☆ Live updates: United Auto Workers go on strike against GM, Ford and Stellantis
▼ + stars: | 2023-09-15 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +1 min

United Auto Workers hold up strike signs right across from the Ford Michigan Assembly Plant in Wayne, Michigan, on September 15. Rebecca Cook/ReutersUAW President Shawn Fain admits the union’s demands are “ambitious” but he insists they’re justified, given the automakers’ strong profits in recent years. The automakers have balked at most of the union’s demands. Pensions and inflation adjustmentsThe UAW wants a return of traditional pension payment plans and retiree health care for all UAW members. Job protections and benefitsThe union demands limits on the use of temporary workers and forced overtime.

Persons: Rebecca Cook, Shawn Fain, they’re, EVs Fain Organizations: United Auto Workers, Ford Michigan Assembly Plant, Reuters UAW, Ford, GM, Pensions, UAW, Workers Locations: Wayne , Michigan

At a rally in downtown Detroit on Friday, just a couple of hundred yards from the headquarters of General Motors, Senator Bernie Sanders of Vermont addressed a cheering crowd of United Auto Workers members, capping a day of walkouts by the union with an effort to rally support for the strike. “The fight you are waging here is not just about decent wages and working conditions and pensions in the auto industry,” Mr. Sanders said. “It’s a fight to take on corporate greed and tell the people on top the country belongs to all of us, not just the few.”The rally took place along Detroit’s riverfront, near the city’s iconic Renaissance Center towers, home to G.M. headquarters. Also nearby is the Huntington Place convention center, where auto executives were gathering for a black-tie charity ball to kick off the 2023 Detroit auto show.

Persons: Bernie Sanders, Sanders, —, ” Mr, “ Organizations: General Motors, United Auto Workers, Big Three, Ford Locations: Detroit, Vermont, walkouts, United States, G.M

After weeks of negotiations with Ford, GM, and Stellantis, United Auto Workers are on strike. The labor union did not reach an agreement with the Detroit 3 before its deadline. Looming impactThe strike is sure to impact more than just the union workers and the Detroit 3 . Experts also suggest the additional costs Ford, GM, and Stellantis could incur as a result of the negotiations could trickle down to consumers, particularly through EV pricing. Historic momentThe last time the UAW and Detroit 3 companies negotiated a contract in 2019, union workers went on strike against GM for 40 days.

Persons: WsUdPt0or5, Shawn Fain, Fain, Shawn Fain Livestream, woPPh2bVSQ, Stellantis, Tesla, Dan Ives Organizations: Ford, GM, United Auto Workers, Detroit, Service, UAW, WsUdPt0or5 — UAW, General Motors, Chrysler, woPPh2bVSQ — UAW, Associated Press, Company, EV, Wedbush, Car Locations: Wall, Silicon, Wentzville , Missouri, Toledo , Ohio, Ford, Wayne , Michigan

The union is also seeking cost-of-living adjustments that would nudge wages higher to compensate for inflation. As of last Friday, the companies offered to raise pay by around 14.5 percent to 20 percent over four years. It was not clear how much progress the union and the companies have made on the other issues. The companies say that they are investing billions in a transition to battery-powered vehicles, which makes it harder for them to pay substantially higher wages. They say they are at a disadvantage compared with nonunion automakers like Tesla, which dominates the sales of electric cars.

Persons: G.M, ” Ford, ”

☆ 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

But not all of the 146,000 UAW members at company plants are walking picket lines, at least not yet. Top-scale assembly plant workers make about $32 per hour, plus large annual profit-sharing checks. The Ford plant that's on strike employs about 3,300 workers, and it makes Bronco SUVs and Ranger midsize pickup trucks. Under the UAW strategy, workers who go on strike would live on $500 per week in strike pay from the union, while others would stay on the job at full pay. It’s unlikely the companies would lock the remaining workers out of their factories because they want to keep building vehicles.

Persons: Joe Biden’s, ”, Liz Shuler, Shawn Fain, Britney Johnson, It’s, Candace Bowles, “, Bowles, I’m, Fain, ” Fain, “ We’re, Ford, didn’t, Marick, ” Masters, “ They’re, Mary Barra, you’ve, Farley, Jeff Schuster, Stellantis, Schuster, ____ Williams Organizations: DETROIT, United Auto Workers, General Motors, Ford, “ Workers, AFL, UAW, GM, Fiat Chrysler, Toledo Jeep, Bronco, Chevrolet Colorado, GMC, Chevrolet Express, Wayne State University, U.S, CNBC, Global Locations: Wentzville , Missouri, Wayne , Michigan, Detroit, Toledo , Ohio, Toledo

[1/3] United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 15, 2023. But UAW President Fain has said Ford could have funded better pay and benefits for workers if it curtailed stock buybacks and dividends to shareholders. Full-time Ford employee Robert Murphy, 53, said he was bothered that some workers get half the pay of others doing similar jobs. The strike is ambitious in taking on three automakers at once, but strategic in that keeping most factories running preserves workers' strike fund. Shortly after, one supporter of plant workers, a 38-year GM veteran who declined to give his name, said he did not think the industrial action would stop until the automakers gave into the union demands.

Persons: Shawn Fain, Rebecca Cook, Eric Mullins, Jim Farley, Ford, Fain, Robert Murphy, Murphy, ” Murphy, Eric Cox, Kevin Krolicki, Jamie Freed, Peter Henderson, Clarence Fernandez, Nick Zieminski Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, General Motors, Chrysler, Ford’s, Plant, UAW, Ford, Thomson Locations: Wayne , Michigan, U.S, WAYNE , Michigan, Detroit

☆ California pensions investment chief steps down less than 2 years into job
▼ + stars: | 2023-09-15 | by ( Isla Binnie | ) www.reuters.com time to read: +1 min

Nicole Musicco Chief Investment Officer, CalPERS, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2023. REUTERS/Mike Blake Acquire Licensing RightsNEW YORK, Sept 15 (Reuters) - The Chief Investment Officer of the largest U.S. state pension manager, the California Public Employees Retirement System (CalPERS), will step down on Sept. 29, CalPERS said in a statement on Friday. CalPERS said Musicco's deputy Dan Bienvenue will serve as interim chief investment officer and it will soon start a global search for her replacement. Musicco took the role overseeing a 400-strong investment office less than two years ago, in February 2022, according to CalPERS website. The post added that she has two children and a "large, multigenerational family" and has "been shuttling between Sacramento and her native Toronto to attend to pressing matters".

Persons: Nicole Musicco, Mike Blake, CalPERS, Dan Bienvenue, Musicco, I've, Isla Binnie, David Evans Organizations: Milken, Global Conference, REUTERS, California, Thomson Locations: Beverly Hills , California, U.S, Toronto, Canada, Sacramento

☆ UAW strike brings blue-collar vs. billionaire battle to Detroit
▼ + stars: | 2023-09-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

In this article STLAGMF Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDETROIT — The United Auto Workers strike is bringing a blue-collar versus billionaire battle to the Motor City, just as UAW President Shawn Fain wanted. Fain, a quirky yet emboldened leader, has meticulously brought the UAW back into the national spotlight after decades of near irrelevance. He wants to represent not just union members but also America's embattled middle class, which UAW helped create. United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, September 15, 2023. Such profits are exactly what Fain has said UAW members deserve to share in.

Persons: Shawn Fain, Fain, Rebecca Cook, Joe Biden, Biden, We've, Ford, Jim Farley, CNBC's Phil LeBeau, he's, Mary Barra, Stellantis, bargainers, Sen, Bernie Sanders, Sanders, Bob King, I've, it's, Anthony Dobbins, Dobbins, That's, Michael Wayland, Farley, Barra Organizations: DETROIT, United Auto Workers, Motor, UAW, Ford Michigan Assembly Plant, Reuters, Ford Bronco, UAW GM, Chrysler, National, General Motors, Ford Motor, Plant, Michigan Assembly Plant's, National Labor Relations Board, GM, Ford, CNBC, Democratic, UAW Local Locations: Motor City, irrelevance, Wayne , Michigan, Ford, Michigan, Vermont

☆ Hundreds gather at Ford plant in Michigan as auto workers begin historic strike
▼ + stars: | 2023-09-15 | by ( Eric Cox | ) www.reuters.com time to read: +2 min

[1/3] United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 15, 2023. REUTERS/Rebecca Cook Acquire Licensing RightsWAYNE, Michigan, Sept 15 (Reuters) - Hundreds of people, including auto workers on the night shift and their supporters, gathered at a Ford (F.N) assembly plant in Wayne, Michigan as members of the United Auto Workers (UAW) union walked off the job to begin a historic strike. "This is what union looks like," said Mike Lester, a supporter who works at a supplier to the major automakers. But UAW President Shawn Fain has said Ford could have funded better pay and benefits for workers if it curtailed stock buybacks and dividends to shareholders. As the strike began, Fain and Debbie Dingell, a Democratic U.S. representative from Michigan, were among the high-profile visitors to Ford's Wayne plant, where about 3,300 UAW members assemble popular Bronco SUVs and Ranger pickup trucks.

Persons: Shawn Fain, Rebecca Cook, Mike Lester, Ford, Jim Farley, Fain, Debbie Dingell, Ford's Wayne, Dingell, Eric Cox, Jamie Freed, Clarence Fernandez Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, UAW, General Motors, Chrysler, Ford, Democratic, Thomson Locations: Wayne , Michigan, U.S, WAYNE , Michigan, Democratic U.S, Michigan, Ford's

☆ The UAW doesn't have to strike at every automaker or factory to shut down most of the auto industry
▼ + stars: | 2023-09-14 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +5 min

The UAW can strike in a few ways, but typically, members have gone on strike against just one of the three Detroit automakers rather than all three at once. "We're going to hit where we need to hit and when we need to hit, we're going to hit to move mountains." If the UAW cuts off the Detroit auto companies' precious money-making factories, that could have a broader impact. AdvertisementAdvertisementIf the UAW strike takes down Detroit 3 production, that will impact the hundreds of suppliers that provide parts to these companies. Suppliers struggled after the last UAW strike, during which workers halted production at GM for 40 days.

Persons: Stellantis, Shawn Fain, Fain Organizations: United Auto Workers, Service, Ford, General Motors, Detroit, GM, UAW, Suppliers Locations: Wall, Silicon, Mexico, Detroit

☆ Detroit Three strike deadline nears as sides remain far apart
▼ + stars: | 2023-09-14 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/4] "UAW on strike" picket signs lay on a pile of wood outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. "To win, we're likely going to have to take action," UAW President Shawn Fain said on Wednesday. Fain said it was still possible that at a later date all of the auto workers could strike. Some losses could be recouped by boosting production schedules after a strike, but that possibility fades as a strike extends to weeks or months. That is less than half the pay hikes the union has sought, but higher than companies initial offers.

Persons: Rebecca Cook, we're, Shawn Fain, Fain, Joe Biden, Jared Bernstein, Stellantis, Ford, Bernie Sanders, David Shepardson, Peter Henderson, Jamie Freed Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, U.S ., United Auto Workers, Detroit, Deutsche Bank, Biden, Ford, General Motors, Chrysler, GM, Thomson Locations: Hamtramck , Michigan, U.S, Detroit

Fain says the targeted strikes will give the union leverage in contract talks and keep the auto companies guessing about the UAW’s next move. Currently, UAW workers hired after 2007 don’t receive defined-benefit pensions. If a walkout occurs, workers would receive about $500 a week in strike pay — far short of what they earn while they’re working. During a 40-day UAW strike in 2019, GM alone lost $3.6 billion. The union’s inability to organize U.S. factories run by foreign automakers represents a disadvantage for the union because those companies pay less than Detroit companies do.

Persons: Shawn Fain, Fain, Motors, They’ve, Mary Barra, ” Ford, ” Fain, “, that’s, Sam Fiorani, ” Fiorani Organizations: DETROIT, — Auto, General Motors, Ford, United Auto Workers, UAW, Detroit, GM, Fiat Chrysler, AutoForecast Solutions, Anderson Economic, UPS, Teamsters, Cornell University Locations: United States, Korean, Stellantis, Detroit, Europe, Asia, U.S, Midwest, That’s, —

☆ Thousands of UAW members go on strike at three key auto plants after deal deadline passes
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GMFSTLA Follow your favorite stocks CREATE FREE ACCOUNTMembers of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. For Ford, UAW President Shawn Fain said only workers in paint and final assembly will be on strike. About 12,700 workers – 5,800 at Stellantis, 3,600 at GM and 3,300 at Ford – will be on strike at the plants in total, the union said. The UAW represents about 146,000 workers across Ford, GM and Stellantis. Fain has referred to the union's plans as a "stand-up strike," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Michael Wayland, Shawn Fain, Fain, Joe Biden, Biden, Ford Organizations: United Auto Workers, CNBC DETROIT –, General Motors, Ford Motor, Ford, UAW, GM, Facebook, YouTube, Detroit automakers, Tesla, Toyota Locations: Detroit, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Stellantis, United States

"We are preparing to strike these companies in a way they have never seen before." Fain said the Detroit Three automakers had offered 146,000 U.S. autoworkers pay raises of as much as 20% over four and a half years but called the hikes inadequate. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years. The UAW is considering initially targeting only some specific plants for work stoppages at the Detroit automakers, two sources briefed on the matter said, adding the strike plan could still change. Targeting strategic plants could quickly force automakers to halt U.S. production and could extend the time before the UAW's $825 million strike fund is exhausted.

Persons: we're, Shaw Fain, Fain, Stellantis, Joe Biden, Jared Bernstein, Biden, Bernstein, Liz Shuler, Reuters autoworkers, Shuler, Bernie Sanders, David Shepardson, Nick Zieminski, Deepa Babington, Chris Reese Organizations: United Auto Workers, Detroit Three, UAW, Detroit, Ford, General Motors, Chrysler, Anderson Economic Group, AFL, Reuters, GM, Detroit automakers, Thomson Locations: Michigan, United States, DETROIT

☆ UAW president says union is still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Sept 13 (Reuters) - United Auto Workers (UAW) President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Three automakers, a day before four-year labor deals are set to expire. Reuters reported late on Tuesday that the union may opt to strike at targeted auto plants if they fail to reach new contracts covering 146,000 U.S. auto workers. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years.

Persons: Shawn Fain, Fain, We've, Stellantis, We’re, Joe Biden, Jared Bernstein, Biden, Bernstein, Liz Shuler, Shuler, Bernie Sanders, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Three, ABC News, General Motors, Ford Motor, Chrysler, Reuters, GM, Detroit, Anderson Economic Group, AFL, CNBC, Ford, Thomson Locations: Michigan, United States, DETROIT

☆ UAW president says union still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Sept 13 (Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Big Three automakers, a day before four-year labor deals are set to expire. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. Ford last week hiked its offer to a 10% wage hike and lump sum payments after offering a 9% wage increase through 2027 and 6% lump sum payments. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years.

Persons: Shawn Fain, Fain, We've, Bernie Sanders, Stellantis, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Big, ABC News, GM, General Motors, Ford Motor, Chrysler, Reuters, Detroit, CNBC, Ford, Anderson Economic Group, Thomson Locations: Michigan

☆ Ford’s former CEO has a stark warning for both the UAW and automakers
▼ + stars: | 2023-09-13 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

“The automakers can’t plead poverty,” Fields told CNN on Wednesday, noting the industry’s recent string of profitable years. [Automakers’] CEO pay went up 40%. “But I do think he’s quite misplaced in that if there’s a work stoppage… there will be lots of people hurt,” the former Ford CEO said. However, economists say a UAW strike is unlikely to cause a recession, though it would do damage to local economies and parts suppliers. You can’t fault them for trying to deal with inflation that is hurting their families,” the former Chrysler CEO said.

Persons: Mark Fields, ” Fields, “, ”, Jim Farley, Fields, CNN’s Vanessa Yurkevich, “ We’re, ” Farley, Shawn Fain, ’, ” Fain, Jake Tapper, Bob Nardelli, ” Nardelli, Goldman Sachs, “ It’s, Fain, Nardelli, Ron Gettelfinger, Ford, CNN’s Chris Isidore Organizations: New York CNN Business —, Detroit, Ford, GM, CNN, Chrysler, United Auto Workers, UAW, UPS, American Airlines, West Coast, TPG Capital, Anderson Economic Group, Big Locations: Mexico, Chihuahua

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