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☆ Biden backs Tesla, Toyota unionization, slams Trump
▼ + stars: | 2023-11-09 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

BELVIDERE, Illinois, Nov 9 (Reuters) - President Joe Biden on Thursday backed the United Auto Workers' efforts to unionize carmakers Tesla (TSLA.O) and Toyota (7203.T) and asked auto workers to reject his Republican opponent, Donald Trump. En route to the event, Biden told reporters that he “absolutely” supports the UAW's efforts to unionize Tesla and Toyota workers. Tesla did not immediately respond to a request for comment on the remark by Biden, who has backed UAW efforts in other speeches. Trump, the frontrunner for the Republican presidential nomination, visited a nonunion factory in Michigan in September while Biden joined a picket line with striking UAW workers, Biden reminded workers. MUSK'S ANTI-UNION STANCEBiden's comments may renew friction between the U.S. president and Tesla CEO Elon Musk, especially as the UAW seeks to organize Tesla workers.

Persons: Joe Biden, carmakers Tesla, Donald Trump, Biden, Shawn Fain, unionize Tesla, Tesla, Trump, Fain, Elon Musk, Musk, Biden sparred, UAW's Fain, Mark Burton, Gretchen Whitmer, Burton, Nandita Bose, Susan Heavey, David Shepardson, Sayantani Ghosh, Steve Holland, Heather Timmons, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, Toyota, Republican, UAW, Democratic, Union, U.S, nonunion, GM, National Labor Relations Board, NLRB, Trump, Labor, Biden, General Motors, Ford, Dodge, Michigan, San, Thomson Locations: BELVIDERE , Illinois, Belvidere , Illinois, Belvidere ., Michigan, U.S, Georgetown , Kentucky, Tesla’s Fremont , California, Honigman, Washington, San Francisco

Before autoworkers went on strike in September, Dave and Bailey Hodge were struggling to juggle the demands of working at a Ford Motor plant in Michigan and raising their young family. Both were working 12-hour shifts, seven days a week, to earn enough to cover monthly bills, car payments and the mortgage on a home they had recently bought. They were also saving for the things they hoped life would eventually bring — vacations, college for their two children and retirement. Some days, she’d see her 8-year-old son off to school in the morning. She’d fall asleep with her 14-month-old daughter lying between her and Dave.

Persons: autoworkers, Dave, Bailey Hodge, “, ” Ms, Hodge, she’d, She’d Organizations: Ford Locations: Michigan

☆ How a No-Nonsense Union Leader Became a Style Icon
▼ + stars: | 2023-11-08 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

The United Auto Workers union struck a landmark series of deals with some of the nation’s largest automakers in recent weeks. Photo: Rebecca Cook/ReutersA few weeks into the United Auto Workers strike, the union’s straight-shooting president, Shawn Fain, appeared on a video livestream to update his members on the progress of negotiations. Things weren’t going well, and Fain did not mince words. “I’ll tell it to you straight. The billionaires and company executives think us autoworkers are just dumb,” he said.

Persons: Rebecca Cook, Shawn Fain, Fain Organizations: United Auto Workers, Reuters

United Auto Workers President Shawn Fain addresses the audience during a rally in support of striking UAW members in Detroit, Michigan, U.S., September 15, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsNov 8 (Reuters) - United Auto Workers President Shawn Fain said on Wednesday the union will "pull out all stops" in working to organize non-union U.S. auto plants after winning new contracts with the Detroit Three automakers. In an video interview at the Reuters Events auto conference in Detroit, Fain said the UAW is aggressively working on its organizing plans. We're going to leverage every avenue we can and we're going to find creative ways to get to workers," Fain said. Fain said the UAW deserved credit for Toyota Motor (7203.T) decision's last week to raise the wages of nonunion U.S. factory workers.

Persons: Shawn Fain, Rebecca Cook, Fain, Joe Biden, decision's, Biden, David Shepardson, Joseph White, David Gregorio Our Organizations: United Auto Workers, REUTERS, U.S, Detroit Three, Chrysler, Reuters, UAW, Toyota Motor, Toyota, nonunion, Thomson Locations: Detroit , Michigan, U.S, Belvedere , Illinois, Detroit, Illinois

☆ ‘Eat the Rich’: How a Union Slogan Set Off a Merch Bonanza
▼ + stars: | 2023-11-07 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Persons: Rebecca Cook, Shawn Fain, Fain Organizations: United Auto Workers, Reuters

☆ Taylor Swift and Beyoncé won't prop up the US economy much longer, with Americans' COVID-era savings running dry
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

But economists are warning the bump in growth won’t last forever, with Americans’ COVID-era savings running dry. AdvertisementAdvertisementTaylor Swift, Beyoncé, and the "Barbenheimer" box-office craze all gave the American economy a much-needed boost this summer. AdvertisementAdvertisementFunflation won't lastAmericans' summer spending splurge on concert and film tickets didn't come out of nowhere. "You've run down the savings rate so a lot of people have basically been spending well beyond what they've been earning. That's why the Taylor Swift economy isn't likely to last.

Persons: Taylor Swift, ’, —, Marc Ostwald, Anna Wong, Eliza Winger, they've, You've, that's, Freddie Mac, Beyonce Organizations: Service, ADM, Services International's, Bloomberg, ADM ISI's, Federal Reserve Locations: American

Gene Sperling, the White House liaison for the strike talks, was in daily contact with executives at the UAW and the three automakers. By that point, there was enough trust that the misunderstanding did little from the White House perspective to hurt the relationship. The UAW president declined to endorse the president who had engaged in the historic outreach. So as I said we’ll do that when it’s time.”Still, the White House saw itself as building trust with the UAW as the talks progressed. As soon as a tentative agreement was in place, Barra told the gathered negotiators that she needed to text the White House.

Persons: Joe Biden, Shawn Fain, Biden, Fain, Gene Sperling, Sperling, We’re, Donald Trump, “ I’m, ” Biden, ”, Julie Su, Su, umbrage, “, ” Fain, “ We’ll, Ford, Stellantis, Mary Barra, Barra, Tom Krisher Organizations: WASHINGTON, United Auto Workers, General Motors, UAW, GM, Ford, Chrysler, Democratic, White, Democratic White Houses, Associated Press, Democrats, AP VoteCast, Republican, Labor, Biden, AP Locations: Delaware, Michigan, Pennsylvania, Wisconsin, Detroit

The report is also expected to find that gains in average hourly earnings were solid but decelerated to 4 percent from a year earlier. The September report showed an unexpectedly strong gain of 336,000 jobs — a figure that will be revised Friday — and a year-over-year wage gain of 4.2 percent. has reached tentative contract agreements with the three major U.S. automakers and told striking members to return to their jobs. “We expect the October employment report to show a large deceleration in job growth, although the moderation will be overstated by the impact of striking autoworkers,” Nancy Vanden Houten, lead U.S. economist at Oxford Economics, said in a note. “Excluding those workers,” she added, “job growth will still be relatively robust, although narrowly based.”Since early 2022, the benchmark interest rate set by the Federal Reserve has surged from near zero to more than 5 percent.

Persons: Nancy Vanden Houten, Jerome H, Powell, Mr, “, ” Organizations: Bloomberg, United Automobile Workers, Oxford Economics, Federal Reserve

☆ Cooling job market no reason for panic yet, economists say: 'It's a slowdown, not a collapse'
▼ + stars: | 2023-11-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Brown | Afp | Getty ImagesThe job market continues to show signs of cooling, but alarm bells aren't ringing just yet, economists said. The unemployment rate rose to 3.9% in October, from 3.8% in September, the BLS said. "There's almost no exception in this report: Every indicator suggests a slowing, slackening labor market," she said. "The days of explosive growth are gone, as the labor market shifts into healthier and more sustainable territory," said Noah Yosif, lead labor economist at UKG, a payroll and shift management company. The rise in the unemployment rate may also just be a sign that the extremely hot labor market is loosening a bit, Bunker added.

Persons: Frederic J, Brown, Julia Pollak, Pollak, Noah Yosif, Aaron Terrazas, Terrazas, Andrew Hunter, Nick Bunker Organizations: Afp, Getty, U.S . Bureau of Labor Statistics, BLS, Workers, Finance, Union, Capital Economics Locations: Los Angeles, U.S

Persons: Nancy Vanden Houten, Jerome H, Powell, Mr, “, ” Organizations: Bloomberg, United Automobile Workers, Oxford Economics, Federal Reserve

☆ Some Tesla workers say they'd never work in a unionized factory, even as Ford and GM workers are set to get a major pay boost
▼ + stars: | 2023-11-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that's speaking with workers. Some Tesla workers say they wouldn't join a unionized company and predicted the UAW would struggle to find footing at Tesla. AdvertisementAdvertisementThe United Auto Workers might have set its sights on Tesla, but some workers at the EV company told Insider they'd be hard-pressed to join a union. Even before the 36-day strike, Ford and GM already spent over $20 more per hour on factory workers than Tesla, according to analysts. Still, other workers told Insider they wouldn't jump ship even for a better pay package at a unionized company.

Persons: Elon Musk, —, Shawn Fain, Tesla, Musk, they'd, Metall, Marquard, it's, you've, Fain, Elon Organizations: UAW, Tesla, Service, United Auto Workers, EV, Detroit automakers, Ford, General Motors, GM, Fremont, Elon Musk's, National Labor Relations Board, Buffalo New, NLRB, Bloomberg, Workers Locations: Fremont, California, Buffalo New York, rehire, company's Brandenburg, Tesla, Tesla's

DETROIT (AP) — Autoworkers at the first Ford factory to go on strike have voted overwhelmingly in favor of a tentative contract agreement reached with the company. About 3,300 United Auto Workers union members went on strike at the plant Sept. 15 after the union's contract with Ford expired. They remained on the picket lines until Oct. 25, when the union announced the tentative deal with Ford. Production workers voted 81% to ratify the deal, while skilled trades workers voted 90% in favor. At its peak 46,000 union members had gone on strike at eight assembly plants and 38 parts warehouses across the nation.

Persons: — Autoworkers, Shawn Fain, Rich Boyer, Fain, Boyer, ”, “, ” Masters Organizations: DETROIT, Ford, Michigan, Plant, United Auto Workers, Ford ., Local, UAW, General Motors, GM, Wayne State University, . Workers, Detroit Locations: Wayne , Michigan, Detroit

☆ The Autoworkers’ Victories
▼ + stars: | 2023-10-31 | by ( David Leonhardt | More About David Leonhardt | ) www.nytimes.com time to read: +1 min

In the real world, similar workers often earn different wages. Their wages fall somewhere in Lester’s range of indeterminacy. Most workers don’t know exactly how valuable their contributions are and therefore what their true market wage should be. Company executives typically don’t know either, but the executives do have more information — about how much money different workers make and how productive each is. For most workers, by contrast, quitting over a pay dispute can create financial hardship.

Persons: Richard Lester, Lester Organizations: United Auto Workers, Detroit’s, Company, Employers Locations: Princeton

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicA wave of strikes that has paralyzed the auto industry came to an end on Monday, when the last of the three big car manufacturers, General Motors, reached a deal with the United Automobile Workers union. Neal E. Boudette, who covers the auto industry for The Times, discusses the historic deal and why it was such a big win for workers.

Persons: Neal E, Boudette Organizations: Spotify, General Motors, United Automobile Workers, The Times

MILAN (AP) —Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%.

Persons: Stellantis, Natalie Knight, Ford, Knight Organizations: MILAN, Fiat, Peugeot, GM, CES, LA, Saturday, United Auto Workers Union, Jeep, North Locations: North America, Europe, Asia, U.S, Las Vegas, Michigan, Ohio

☆ UAW strike cost Stellantis $3 billion in lost revenue
▼ + stars: | 2023-10-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Historic strikes by autoworkers in North America have cost Stellantis €3 billion ($3.2 billion) in lost revenue, the maker of Chrysler and Jeep said Tuesday. Earlier this month, General Motors (GM) said walkouts by its workers had cost the company $200 million in their first two weeks. Stellantis (STLA) still reported better-than-expected revenue for the July-September period, up 7% on the same quarter in 2022 at €45.1 billion ($48 billion). The UAW has hailed the deal that ended the prolonged walkouts at Stellantis as a major victory. Separately, Stellantis reached an agreement with Canadian union Unifor Monday, hours after a strike began there.

Persons: Stellantis Organizations: London CNN —, Chrysler, Jeep, United Auto Workers union, UAW, General Motors, €, Electric Locations: North America, Stellantis, Illinois, Milan, —

☆ Stocks making the biggest moves midday: SoFi, McDonald's, Western Digital, On Semiconductor and more
▼ + stars: | 2023-10-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

SoFi Technologies — Shares seesawed as traders digested the company's latest quarterly results. McDonald's — Shares gained 2.3% after the company beat both top and bottom lines for the third quarter. Western Digital — Shares of the data storage company jumped 6% after the company performed better than analysts polled by LSEG expected in the fiscal first quarter. Invitation Homes — The home leasing company rose nearly 1% following an upgrade to outperform by Oppenheimer. Saia — The transportation stock rose 3.4% on the back of an upgrade to outperform from peer perform by Wolfe Research.

Persons: SoFi, originations, McDonald's, Stellantis, LSEG, Revvity, FactSet, Oppenheimer, L3Harris, Raymond James, Eastman, AbbVie, Tesla, Bernstein, TD Cowen, —, Femsa, Saia, Jesse Pound, Samantha Subin, Pia Singh, Hakyung Kim, Justin Sullivan Organizations: General Motors, GM, CNBC, Ford, Spirit Realty Capital, Realty, Western Digital, Semiconductor, FactSet, Eastman Chemical —, JPMorgan, Barclays, Citi, Wolfe Research, SoFi Technologies Locations: U.S, San Francisco , California

☆ Union Victories May Lift Biden, as U.A.W. Targets Tesla and Others
▼ + stars: | 2023-10-30 | by ( Jonathan Weisman | More About Jonathan Weisman | ) www.nytimes.com time to read: +2 min

agreed to bring its electric vehicle battery joint venture, Ultium, under the national contract, a boon for Ultium workers but also a pressure point for unions as they seek to organize battery plants sprouting up around the country. “This historic contract is a testament to the power of unions and collective bargaining to build strong middle-class jobs while helping our most iconic American companies thrive,” Mr. Biden said Monday evening. “It highlights the lie peddled by Donald Trump and at times the Big Three that the E.V. transition means lower-quality jobs in a nonunion work force.”The U.A.W. In May, the autoworkers’ union opted to withhold an endorsement of Mr. Biden’s re-election, openly expressing “our concerns with the electric vehicle transition” that the president was pushing through legislation and regulation.

Persons: Mr, Biden, Jason Walsh, Walsh, Donald Trump, Biden’s Organizations: BlueGreen Alliance

Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.

Persons: WAYNE, Britney Johnson, Johnson's, “, ”, Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York

☆ Pharmacy staff from CVS, Walgreens stores in US start 3-day walkout
▼ + stars: | 2023-10-30 | by ( Leroy Leo | ) www.reuters.com time to read: +3 min

The walkout, which the organizers have dubbed "Pharmageddon", is the third strike by pharmacists in a little over one month. In September, some staff from CVS stores in Kansas City went on a two-day strike, while there was another by Walgreens store employees earlier this month. Pharmacy staff in New York and Pennsylvania were planning to participate, including workers at some of Walgreens' Duane Reade stores in New York, he said. Some pharmacists were also planning to conduct rallies outside CVS' headquarters at Woonsocket, Rhode Island and at Walgreens at Deerfield, Illinois, according to social media posts. "Our ongoing efforts are focused on how we recruit, retain, and reward our pharmacy staff," a spokesperson for Walgreens told Reuters, adding that they have also centralized some operations to reduce pharmacists' workload.

Persons: Walgreens Boots Alliance's, Shane Jerominski, Duane Reade, Jerominski, Kaiser, Leroy Leo, Shinjini Organizations: CVS Health Corp, Walgreens Boots, Kansas City, Walgreens, Reuters, Jerominski, Pharmacy, CVS, Kaiser Permanente, Thomson Locations: U.S, Kansas, New York, Pennsylvania, Woonsocket , Rhode Island, Deerfield , Illinois, Bengaluru

Taylor talked with The Associated Press about where her business is headed, the resurgence in travel, and rental prices. Vehicle supply is down, but we are in a much better place. And so we feel really good about vehicle supply coming into the back half of the year. But they've stayed high in part because of lack of supply coming from rental car companies returning vehicles to the market. It’s very important to keep the residual value high for the manufacturers, making sure that the customer is getting a well-maintained and great vehicle.

Persons: Chrissy Taylor, Taylor, they’ve, we’ve, they've, we’re Organizations: DETROIT, Enterprise, Enterprise Mobility, Associated Press, Detroit Locations: Louis, Europe, Detroit

NEW YORK (AP) — U.S. labor unions are once again flexing the muscles in the national spotlight. UNION RATES HAVE BEEN FALLING FOR DECADES. Only 6% of U.S. private-sector workers belong to unions today, a sliver of the 35% that were union members in 1953. The National Labor Relations Act of 1935 granted private-sector employees the right to unionize. That means that what worked in auto workers' labor campaign, for example, may not be possible for other industries.

Persons: Gridlock, ” Alexander Colvin, ”, Eunice Han, Cathy Creighton, Shawn Fain “, ” Creighton, Joe Biden, Todd Vachon, Taft, Hartley, Vachon, Ronald Reagan, “, haven't, John F, Kennedy, ” Vachon, Han, Colvin, ” Colvin, Creighton Organizations: —, United Auto Workers, Big, Cornell University's School of Industrial and Labor Relations, Associated Press, Labor, University of Utah, Cornell University’s Industrial, Labor Relations Buffalo Co, NLRB, Motors, Ford, Facebook, Rutgers School of Management, Labor Relations, Bureau of Labor Statistics, National Labor Relations, Starbucks, Gallup Locations: Las Vegas , Detroit, Southern California, U.S, United States, Midwest

☆ Canadian auto union reaches deal with Stellantis after brief labor strike
▼ + stars: | 2023-10-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Canadian union Unifor and Stellantis have reached a tentative agreement early Monday morning, ending a brief strike that began after a deal wasn't reached by 11:59 p.m. Sunday. Details of the tentative agreement with Stellantis were not immediately available. The Canadian work stoppage comes nearly three weeks after Unifor launched a roughly 12-hour national strike against General Motors after the sides failed to reach a tentative agreement by a union-set deadline. The Canadian union is negotiating with each automaker separately and using a deal first reached last month with Ford as a pattern for GM and Stellantis. However, once the UAW reached a tentative agreement, which must still be ratified by members, Wednesday with Ford Motor , it has used that deal as a template for proposals with Stellantis and GM.

Persons: Lana Payne, Payne, Jerry Dias, Stellantis, Unifor Organizations: DETROIT —, Chrysler, Pacifica, Dodge Challenger, UAW, Stellantis, General Motors, Detroit automakers, U.S ., Ford, Ford Motor, GM Locations: Toronto , Ontario, Canada, Canadian, Ontario

☆ UAW reaches tentative agreement with Stellantis
▼ + stars: | 2023-10-28 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The United Auto Workers union has reached a tentative agreement with Stellantis, which makes vehicles under the Dodge, Ram, Chrysler and Jeep brands, a source familiar with the negotiations told CNN. The tentative agreement with Stellantis Saturday follows a similar deal reached with Ford Wednesday. Ford’s deal gives union workers sizeable pay and benefits increases to contend with inflation that has taken a bite out of workers paychecks. When the cost-of-living adjustments and guaranteed raises are combined, they are expected to raise Ford workers’ wages 30% or more. At the time the Ford deal was announced, there were 16,600 members on strike at Ford, 14,200 on strike at GM and 14,600 on strike at Stellantis.

Persons: Ford, “, ”, Chuck Browning, Todd Dunn, Colin Langan, Wells, Stellantis, Langan Organizations: New, New York CNN, United Auto Workers, Stellantis, Dodge, Chrysler, Jeep, CNN, Ford, UAW, General Motors, GM, UAW Local, Kentucky, Sterling Locations: New York, Detroit, Stellantis, Sterling Heights , Michigan, Arlington , Texas, Arlington, Wells Fargo

When autoworkers went on strike in September, executives of the large U.S. automakers warned that union demands could significantly undermine their ability to compete in a fast-changing industry. The chief executive of Ford Motor said that the company might have to scrap its investment in electric vehicles. Ford’s cost will rise under the terms of the new contract, which includes a 25 percent raise over four and a half years, improved retirement benefits and other provisions. But analysts said those increases should be manageable. If anything, he said, the deal will help Ford, in part because the four-year contract ensures there will be no labor strife during an intense phase of the transition to electric vehicles.

Persons: autoworkers, Ram, ”, Joshua Murray, Ford Organizations: Ford Motor, Ford, United Automobile Workers, General Motors, Chrysler, Vanderbilt University

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