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☆ Explainer: UAW expands strikes against GM, Stellantis in fight over new contract
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +6 min

People attend a UAW rally to support striking workers outside an assembly plant in Louisville, Kentucky, U.S., September 21, 2023. The UAW, which represents 46,000 GM workers, 57,000 Ford employees and 43,000 Stellantis workers, kicked off negotiations with the companies in July. 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 UAW is pushing automakers to eliminate the two-tier wage system under which new hires can earn far less than veterans.

Persons: Michael Swensen, Shawn Fain, they’ve, Fain, Mark Reuss, Ford, GM's, Morgan Stanley, Adam Jonas, Biden, Tesla, Nathan Gomes, Paul Simao, Sriraj Kalluvila, Diane Craft, Anil D'Silva Organizations: UAW, REUTERS, United Auto Workers, General Motors Co, Ford Motor, General Motors, Chrysler, WHO, Ford, Detroit, Reuters, Ford Bronco, Chevrolet, Wall, GM, FROM, Detroit Free Press, EV, Deutsche Bank, Thomson Locations: Louisville , Kentucky, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Bengaluru, Washington

☆ UAW President Fain gives details of talks with automakers
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

** UAW won reinstatement of the cost of living allowance that was suspended in 2009. UAW "won a serious victory at CCA (Customer Care and Aftersales) and GMCH (GM Components Holdings) and we have killed those wage tiers. ** GM rejected proposals to convert temporary workers to permanent. At Stellantis:** Stellantis is offering a "deficient" cost-of-living allowance that is projected to provide zero increases to employees over the next four years. ** Stellantis rejected proposals to convert temporary workers.

Persons: Shawn Fain, Ford, Fain, Mehr Bedi, Maju Samuel Organizations: United Auto Workers, Detroit, General Motors, Chrysler, Ford Motor, UAW, Ford, GM, Sterling, Holdings, Thomson Locations: Bengaluru

☆ Green energy’s tailwinds blow the other way
▼ + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.

Persons: Rishi Sunak, –, Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Sept 21 (Reuters) - Americans broadly back striking workers in the auto industry and Hollywood, according to a two-day Reuters/Ipsos poll completed on Wednesday that found significant support among both Democrats and Republicans. Some 72% of self-identified Democrats said they backed the auto workers strike and 79% said they supported the Hollywood strike. The poll found that 48% of Republicans backed the auto workers strike, while 47% opposed it. Other candidates like Nikki Haley and Tim Scott have said the auto workers are asking for too much. Two-thirds said pay for CEOs and workers should go up equally -- a central talking point of the UAW strike.

Persons: Rebecca Cook, Donald Trump, Nikki Haley, Tim Scott, Joe Biden, Andy Sullivan, Scott Malone, Deepa Babington Organizations: United Auto Workers, UAW, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, Rights, Hollywood, Republicans, Ford Motor, General Motors, Chrysler, Democratic, Trump, Edison Research, Thomson Locations: Toledo , Ohio, Wayne , Michigan, United States

☆ Where key issues stand as UAW closes in on extended strikes against GM, Ford and Stellantis
▼ + stars: | 2023-09-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Headline economic issues and benefits such as hourly pay, retirement benefits, cost-of-living adjustments, wage progression and work-life balance remain central to the discussions. Here's a general overview of where the union and companies stand on key issues. Wage tiers — putting autoworkers into distinct pay ranges or classifications — is a tricky, moving target. The companies and union have defined tiers differently during past negotiations as well as during the talks this year. UAW leaders are specifically concerned with vehicle production commitments at Stellantis, which has proposed closing, selling or consolidating 18 facilities.

Persons: Ryan Sullivan, Chris Sanders, Stone, Casey Miner, Kennedy R, Barbee, Stephen Brown, Sarah Rice, Shawn Fain, Mark Reuss, there's, wouldn't, GM Organizations: United Auto Workers, Jeep, Getty, DETROIT, Detroit, UAW, General Motors, Ford Motor, Union, Media, GM, Ford Locations: Toledo , Ohio, Michigan , Ohio, Missouri, Wells Fargo, Here's, Stellantis

☆ Here's a rapid-fire update on all 35 stocks in the Club's portfolio, including a new buy
▼ + stars: | 2023-09-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. But for investors who haven't bought into its steep pullback, it's reasonable to buy some shares at current levels around $146.50 each. Unless you believe inflation is going to keep raging, making Microsoft's price-to-earnings multiple too high, then this stock is a buy. Nvidia (NVDA): Investors who don't own Nvidia yet should use its recent weakness to start a position, Jim said. Pioneer Natural Resources (PXD): We decided to buy additional Pioneer shares Thursday as the stock fell more than 2%.

Persons: Jim Cramer's, Jim, Amazon, he's, could've, We're, Jefferies, it's, we'd, Dupont De Nemours, That's, Dupont, Danaher, Bob Iger, Estee Lauder, haven't, Locker, Marry Dillon, Leqembi, Eli Lilly's donanemab, Vimal Kapur, Eli Lilly, Mark Zuckerberg, Morgan Stanley, Morgan, we're, James Gorman, Oracle, Safra Catz, Elliott, Stanley Black, Decker, TJ Maxx, Wells Fargo, Wells, Wynn, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Web Services, Broadcom, Google, Bausch Health, Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Coterra, Emerson, National Instruments, Ford, United Auto Workers, GE Healthcare, Honeywell International, Honeywell, Linde, LIN, Mounjaro, Meta, Microsoft, Nvidia, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, Constellation, Elliott Management, TJX, Marshalls, Wynn Resorts, WYNN Locations: China, India, Dupont, Emerson, Meta, Beijing, HomeGoods

☆ GM executive slams UAW over 'flow of misinformation,' rhetoric during strike
▼ + stars: | 2023-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

The UAW opens auto contract negotiations with Stellantis today, Ford on July 14, and General Motors on July 18. "As the past has clearly shown, nobody wins in a strike," Reuss said in a Wednesday column in the Detroit Free Press. watch nowGM's last offer was made Sept. 14, ahead of the union initiating a "Stand Up Strike" at one assembly plant each for GM, Ford Motor and Stellantis. UAW President Shawn Fain said Monday the strikes will expand at noon Friday unless "serious progress" is made in negotiations. Late Monday, Ford released a lengthy statement fact-checking comments made by Fain, including auto worker wages, company profits and stock buybacks.

Persons: Shawn Fain, Bill Pugliano, Mark Reuss, Reuss, GM's, Wells Fargo's Colin Langan, Langan, Andrew Harrer, Ford, Fain, Jim Farley, He's, We've, Farley, CNBC's Phil LeBeau, he's Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, DETROIT, Detroit automakers, General, Detroit Free Press, GM, Ford Motor, Stellantis, General Motors Co, Chevrolet Silverado, Auto, Bloomberg Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Detroit , Michigan

☆ UAW workers strike at Mercedes supplier ZF's plant in Alabama
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Striking United Auto Workers members picket outside the Stellantis Jeep plant, in Toledo, Ohio, U.S. September 19, 2023. REUTERS/Rebecca Cook Acquire Licensing RightsSept 20 (Reuters) - The United Auto Workers (UAW) union said on Wednesday that 190 workers went on strike at Mercedes-supplier ZF's plant in Alabama, demanding higher pay and better healthcare benefits. The workers are also seeking an end to the tier system of wages, under which older employees get higher pay than newer workers for the same job. ZF, which makes front axles used by Mercedes, said the plant in Tuscaloosa would operate while talks with the union continue. UAW members are also on a separate strike at three plants operated by the Detroit Three automakers - Ford Motor (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) - demanding better contracts from the companies.

Persons: Rebecca Cook, Mercedes, Mercedes Benz, Abhinav Parmar, Arun Koyyur Organizations: United Auto Workers, REUTERS, UAW, Mercedes, Detroit Three, Ford, General Motors, Thomson Locations: Toledo , Ohio, U.S, Alabama, Tuscaloosa, Bengaluru

☆ Canadian union Unifor reaches tentative agreement with Ford
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Lana Payne speaks to delegates after being elected as president of UNIFOR, Canada's largest private sector union, at the Metro Toronto Convention Centre on Aug. 10, 2022. Canadian union Unifor said on Tuesday evening that it had reached a tentative agreement with Ford Motor . Unifor, which represents about 5,600 Canadian auto workers, were threatening to go on strike at all three of Ford's plants in the country if a deal was not reached by 11:59 p.m. on Tuesday (0359 GMT on Wednesday).

Persons: Lana Payne, UNIFOR, Unifor Organizations: Metro Toronto Convention, Ford Motor

☆ Auto jobs are booming in the union-hostile South
▼ + stars: | 2023-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

New York CNN —Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Jobs at nonunion EV battery facilities pay less than the roughly $32 an hour that veteran UAW workers make. Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Mostly nonunion EV jobs and manufacturing investments are surging in Southern states led by Republicans. The South has picked up 66% of planned EV jobs, while projects in Midwestern states such as Michigan, Indiana, Kansas and Ohio have combined for 26% of planned jobs, according to S&P Global.

Persons: ’, Ford, nonunion autoworkers, ”, Stephen Silvia, Southern, Mason, Honda, Deni McIntyre, unionize, “ It’s, Nelson Lichtenstein, Jeffrey Greenberg, Lichtenstein, Bill Lee, Nikki Haley, Houston Cofield, Biden, Biden’s, Shawn Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Volvo, Benz, BMW, Toyota, Hyundai, American University, Southern Gamble, Workers, Foreign, Ford, GM, Dixon, Midwest, UAW, EV, P Global Market Intelligence, Nissan, Mercedes, Volkswagen, Kia, CNN, University of California, Clinton Presidency, Universal, Southern Republican, South . Tennessee Gov, Former South Carolina Gov, Republicans, North Carolina –, Environmental Defense Fund, P Global, Ford Motor Co, SK Innovation Co, Bloomberg, Getty, Big Three Locations: New York, Detroit, Smyrna , Tennessee, Spartanburg , South Carolina, Vance , Alabama, Lincoln , Alabama, Germany, Santa Barbara, Clinton, Korean, United States, Tennessee, Kentucky, Alabama, South, Chattanooga, Southern, – Georgia, South Carolina , Kentucky, North Carolina, Midwest . Georgia, Michigan, Indiana , Kansas, Ohio, Stanton , Tennessee, BlueOval

☆ Ford avoids Canadian auto strike with Unifor union deal
▼ + stars: | 2023-09-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Lana Payne speaks to delegates after being elected as president of UNIFOR, Canada's largest private sector union, at the Metro Toronto Convention Centre on Aug. 10, 2022. The Canadian tentative agreement was reached on day five of the United Auto Workers union initiating targeted strikes against Ford and its crosstown rivals General Motors and Chrysler-parent Stellantis . DETROIT – Ford Motor avoided having to face labor strikes on both sides of the U.S.-Canada border Tuesday night, as the automaker and Canadian union Unifor announced a tentative deal covering 5,600 autoworkers in the country's Ontario providence. Unifor, which represents 18,000 Canadian workers at the Detroit automakers, took a more traditional approach to its negotiations than its U.S. counterpart did. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Lana Payne, UNIFOR, Unifor, Ford, Shawn Fain Organizations: Metro Toronto Convention, Plant, Ford Edge, Lincoln Nautilus, Ford, United Auto Workers, General Motors, Chrysler, Detroit, Ford Motor, U.S ., Detroit automakers, U.S, GM, UAW Locations: Oakville, Unifor, DETROIT, U.S, Canada, Ontario, autoworkers, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ GM and Stellantis just laid off more than 2,000 additional workers because of the UAW's strike
▼ + stars: | 2023-09-20 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

General Motors and Stellantis said they have laid off additional workers because of consequences related to the United Auto Workers strike. The plants make parts for Jeep vehicles built at the automaker's Toledo Assembly Complex, where workers are also on strike. GM's Fairfax Assembly plant builds the Chevrolet Malibu sedan and Cadillac XT4 crossover. "We have said repeatedly that nobody wins in a strike," GM said in a statement. Nearly 13,000 GM, Ford and Stellantis workers are on strike at the Wentzville, Toledo and Wayne plants.

Persons: Stellantis, Fairfax, Shawn Fain Organizations: Motors, United Auto Workers, GM, automaker's, UAW, Ford Motor, Chevrolet Malibu, Ford Locations: Fairfax , Kansas, Wentzville , Missouri, Ohio, Indiana, automaker's Toledo, Toledo, Wayne , Michigan, Detroit, Fairfax, Wayne

☆ US Republicans push for security review of China-linked battery company
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Amanda Andrade Rhoades/File Photo Acquire Licensing RightsWASHINGTON, Sept 20 (Reuters) - Republican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway. The move is the latest push by Republicans to question Chinese-linked EV battery producers looking to set up shop in the U.S., possibly with access to taxpayer funding. The governors of Michigan and Illinois have announced plans for Gotion to open EV plants in their states, facilities expected to create thousands of jobs. Those include the company's founder Li Zhen and his son whom, they said, were members of CCP organizations. The Treasury Department, Gotion and Gotion High-Tech did not respond immediately to requests for comment.

Persons: Marco Rubio, Amanda Andrade Rhoades, Janet Yellen, Li Zhen, Joe Biden, Tesla, Ford, Michael Martina, Timothy Gardner Organizations: Capitol, REUTERS, Rights, Republican, Wednesday, U.S . Treasury Department, Gotion Inc, Foreign Investment, China's Communist Party, Germany's Volkswagen AG, Gotion, Tech, CCP, Treasury Department, Republicans, CATL, Thomson Locations: Ukraine, Washington , U.S, China, Michigan, Illinois, U.S, United States

☆ Republican lawmaker seeks details of Tesla relationship with Chinese battery company CATL
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - A senior Republican in Congress asked Tesla (TSLA.O) Tuesday to detail its relationship with Chinese battery manufacturer CATL (300750.SZ) amid concerns electric vehicle subsidies are flowing to foreign entities raising security concerns. Smith said the committee is concerned CATL "may be trying to negotiate other agreements like the agreement with Ford." The question is how what precisely constitutes a "foreign entity of concern", and so far no foreign battery supplier has been labeled as such. In July, Smith and Mike Gallagher, Republican chair of the Select Committee on China, demanded Ford answer questions about the CATL deal. Ford told Reuters Tuesday it agrees that "U.S. taxpayer dollars should support American manufacturers, not foreign entities of concern."

Persons: Florence, Tesla, Jason Smith, Elon Musk, Smith, Ford, Musk, Mike Gallagher, Janet Yellen, David Shepardson, Stephen Coates Organizations: Fair for Trade, Services, REUTERS, Rights, Republican, Ford, Republicans, Nissan, Reuters, American, U.S . Treasury, Treasury, Thomson Locations: Beijing, China, Michigan, CATL, United States

☆ Ford barrels toward new Canadian strike that could affect F-Series pickup production
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

A Unifor strike would disrupt Ford's Oakville Assembly Plant that produces the Ford Edge and Lincoln Nautilus crossovers. F-Series, Mustang could be disruptedIf a prolonged Canadian strike occurs, the work stoppage could eventually impact U.S. production of the vehicles. Gasoline V8 models make up about 50% of Mustang and 20% of F-150 models sold in the U.S. Large F-Series trucks exclusively have V8 engines. But a majority of those vehicles sold have diesel V8 engines rather than gasoline, according to the company. The Canadian union picked Ford as its "target" company instead of following the UAW's new strategy of bargaining with all three automakers.

Persons: Ford, Carlos Osorio, Wheaton, Lana Payne, Jerry Dias, Cole Burston Organizations: Ford DETROIT, Ford, United Auto Workers, General Motors, Chrysler, Plant, Ford Edge, Lincoln Nautilus, Reuters, Detroit, UAW, Worker Institute, Cornell University, Unifor, Detroit automakers, U.S, Canadian Locations: Oakville, Oakville , Ontario, Canada, U.S, Mexico, Toronto , Ontario

☆ White House no longer sending top officials to Detroit for UAW strike talks this week
▼ + stars: | 2023-09-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The Biden administration is no longer sending two key officials to Detroit this week to potentially help broker a deal between striking autoworkers and the Big Three car companies, a White House official told NBC News. But the White House and the UAW mutually agreed it would be better to speak virtually via Zoom, the official said Tuesday. "We'll continue to assess travel timing based on the active state of negotiations," the White House official said. The union's president, Shawn Fain, told MSNBC on Monday that he does not see a major role for the White House in resolving the dispute. Trump is planning to skip the GOP primary debate next week and instead travel to Detroit to speak with union members.

Persons: Biden, Joe Biden, Gene Sperling, Julie Su, Sperling, Su, We'll, Shawn Fain, Fain, We're, Donald Trump, Trump Organizations: United Auto Workers, Ford Motor Co, Michigan Assembly, White, NBC News, Labor, UAW, White House, Ford, General Motors, MSNBC, GM Locations: Michigan, Wayne , Michigan, Detroit, Michigan , Missouri, Ohio

☆ Canadian autoworkers extend negotiations with Ford, delaying a possible strike
▼ + stars: | 2023-09-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

According to an update posted on the union site: “Unifor is extending negotiations with Ford Motor Company for a 24-hour period. By contrast, Unifor announced if it goes on strike, it will strike all the Ford facilities where it represents members. The union had granted them contract extensions while it focused its negotiations on reaching the best possible deal with Ford. It has not had a strike in its Canadian operations since 1990 and has not had a US strike since 1978. A Canadian strike could be a bigger blow to Ford’s sales than the UAW strike, which is so far is limited to one factory in Michigan in the case of Ford.

Persons: Unifor, ” Ford, Lana Payne, ” Payne, Ford Organizations: CNN, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler, UAW, Ford Bronco, Nautilus Locations: Canada, Wayne , Michigan, Michigan, Windsor

☆ 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

☆ Republican lawmaker seeks details of Tesla relationship with Chinese battery maker CATL
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Smith said the committee is concerned CATL "may be trying to negotiate other agreements like the agreement with Ford." Republicans in Congress have been probing Ford Motor's (F.N) planned $3.5 billion investment to build a battery plant in Michigan using technology from CATL, the world's largest battery maker. The question is what precisely constitutes a "foreign entity of concern", and so far no foreign battery supplier has been labeled as such. Tesla, CATL and Nissan did not immediately respond to requests for comment. In July, Smith and Mike Gallagher, Republican chair of the Select Committee on China, demanded Ford answer questions about the CATL deal.

Persons: Florence, Tesla, Jason Smith, Elon Musk, Smith, Ford, Musk, Mike Gallagher, Janet Yellen, David Shepardson, Stephen Coates, Himani Organizations: Fair for Trade, Services, REUTERS, Rights, Republican, Ford, Reuters, Republicans, Nissan, American, U.S . Treasury, Treasury, Thomson Locations: Beijing, China, Michigan, CATL, United States, America

☆ EV charging needs big improvements soon if the auto industry's transition is going to work
▼ + stars: | 2023-09-19 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +11 min

Simply put, America's patchwork of CCS chargers offers spotty coverage, hard-to-use devices, and, too often, chargers that are broken. Not to mention, there are fewer than 12,000 CCS fast chargers across the U.S. today. Opening up the Tesla charging network to our customers, that's about them and it scales very quickly for them. watch nowThe broad uptake of Tesla's charging tech is generally good news. What's more, Tesla's chargers all work the same way, whereas CCS chargers from rival companies may have very different procedures.

Persons: Mark Blinch, Reuters There's, General Motors, it's, Joe Biden, Tesla, Justin Sullivan, JD Power, Brent Gruber, Ford, John Lawler, Lawler, We're, Elon Musk, EVgo Organizations: Benz, Canadian, Reuters, Ford Motor, General, Volkswagen, Cox Automotive, Consumer, Energy, Institute, University of Chicago, Associated Press, NORC, for Public Affairs Research, United Auto Workers, EV, Public, U.S . Department of Energy, —, Detroit, CCS, University of California, JD, Ford EV, Ford, GM, Volvo, Mercedes, SAE International, ABB Locations: Toronto , Ontario, Canada, U.S, San Rafael , California, Berkeley, Bay, Swiss

☆ Banks scramble to find leaders equipped for today’s economic realities
▼ + stars: | 2023-09-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

That means most current executives, who came up in the era of easy money, are unfamiliar with the complexities of running a bank under today’s conditions. Some CEOs are deciding that they need to make drastic, expensive and often unpopular institutional changes to help them keep up. Banks currently have strong managers, but not a lot of strong leaders, said David Schiff, senior partner at West Monroe. Prior to the current interest rate hikes, banks had been operating with low-interest, stable rates for nearly two decades, he said. It has not had a strike in its Canadian operations since 1990 and had not had a US strike since 1978.

Persons: Jane Fraser, Fraser, Mike Santomassimo, Truist, Venkatakrishnan, Goldman Sachs, It’s, Roger Hochschild, Morgan Stanley, James Gorman, Banks, David Schiff, That’s, aren’t, ”, Schiff, “, “ There’s, Chris Isidore, Unifor, ” Ford, Lana Payne, Clorox, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, Citigroup, Citi, Wells, Reuters, Barclays, C.S, CNBC, Discover, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler Locations: New York, West Monroe, Canada, Clorox

☆ UAW will strike at additional U.S. auto plants if 'serious progress' isn't made by noon Friday
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Blue Cross Blue Shield employees show their support to members of the United Auto Workers (UAW) union as they march through the streets of downtown Detroit following a rally on the first day of the UAW strike in Detroit, Michigan, on September 15, 2023. Matthew Hatcher | AFP | Getty ImagesDETROIT – The United Auto Workers union will announce additional strikes at General Motors , Ford Motor and Stellantis plants if the sides don't make "serious progress" in negotiations by noon ET Friday, UAW President Shawn Fain announced Monday night. The announcement follows the union meeting with each of the automakers since the targeted strikes began Friday. The union selected the plants as part of targeted strike plans, as Fain and UAW leaders unconventionally negotiate with all three automakers at once. It's calling the work stoppages "stand-up strikes," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Matthew Hatcher, Shawn Fain, We're, Fain Organizations: United Auto Workers, UAW, AFP, Getty, DETROIT, General Motors, Ford Motor, Detroit Locations: Detroit, Detroit , Michigan, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ Bernie Sanders’s push for four-day weeks has merit
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Senator Bernie Sanders speaks to the crowd as United Auto Workers President Shawn Fain and UAW Region 1 Director LaShawn English listen during a rally in support of striking UAW members in Detroit, Michigan, U.S., September 15, 2023. The United Auto Workers on Friday began strikes at Detroit carmakers Ford Motor (F.N), General Motors (GM.N) and Stellantis (STLAM.MI). Sanders voiced enthusiasm for their biggest demand: moving to a four-day workweek while maintaining five-day pay. UAW members pushed for this policy in the middle of the last century during a prior wave of automation. With artificial intelligence poised to reshape white-collar jobs, more workers might come to see things Sanders’s way.

Persons: Bernie Sanders, Shawn Fain, Rebecca Cook, Sanders, Jim Farley, Jonathan Guilford, Lauren Silva Laughlin, Sharon Lam Organizations: United Auto Workers, UAW, REUTERS, Reuters, Friday, Detroit, Ford, General Motors, X, Thomson Locations: Detroit , Michigan, U.S

☆ U.S. stocks close lower as investors take cover ahead of Fed decision
▼ + stars: | 2023-09-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. The Fed is also due to release its Summary Economic Projections, including its dot plot, which should provide a glimpse into the Federal Open Markets Committee's forecast trajectory of interest rates, inflation and economic growth. On the economic front, a jump in Canada's annual inflation rate due to rising gasoline prices, and a bigger-than-expected plunge in U.S. housing starts helped feed investor uncertainty. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Starbucks (SBUX.O) lost ground following TD Cowen's decision to downgrade the coffee chain's shares to "underperform."

Persons: Bill Northey, Helena Montana, Northey, Michael Green, Brendan McDermid, Walt Disney, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: Disney, Dow, Nasdaq, U.S . Federal Reserve, Federal Reserve, U.S, Bank Wealth Management, Federal, Management, Fed, Maplebear Inc, chipmaker, Holdings, New York Stock Exchange, REUTERS, Arm Holdings, Dow Jones, Starbucks, General Motors, Ford Motor, United Auto Workers, NYSE, Thomson Locations: Helena, Philadelphia, New York City, U.S, Bengaluru

☆ U.A.W. Threatens Strikes at More Plants
▼ + stars: | 2023-09-19 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

members walked off the assembly lines at three plants last Friday, one each at the three companies — General Motors, Ford Motor and Stellantis, the parent of Chrysler. The union has demanded a 40 percent wage increase over four years, better benefits and other changes. The automakers, which are based in or have a big presence in Michigan, have offered raises of about half as much. In a video posted on Facebook on Tuesday, the union’s new president, Shawn Fain, said workers could walk out of more plants at the end of this week. “If we don’t see serious progress to noon Friday, Sept. 22, more locals will be called on to stand up and go on strike,” he said.

Persons: Shawn Fain, ”, “ We’re Organizations: United Auto Workers, U.S, Motors, Ford Motor, Chrysler, Facebook Locations: Michigan

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