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Fain acknowledged some union members want to vote on the offers the union bargainers have in hand. He urged UAW members not to give in to what he called "fear, uncertainty, doubt and division" sowed by the companies. More than 34,000 union members working at the three automakers are on strike since the walkouts began on Sept. 15. The demand included a 20% immediate increase, elimination of different pay scales among UAW workers and restoration of defined benefit pension plans. The GM offer "suggests we may be in the endgame," said University of California Berkeley labor professor Harley Shaiken.
Persons: Rebecca Cook, Shawn Fain, Fain, General Motors GM.N, Harley Shaiken, Ford, We've, Stellantis, Ford hasn't, Shaiken, it's, Tesla, Bill Ford, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, General, Chrysler, GM, Ford, Bloomberg News, Detroit Three, of California, Ford's, Toyota, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, of California Berkeley, Kentucky, Arlington , Texas, Detroit, Bengaluru
GM makes new offer to UAW, sees movement in all key areas
  + stars: | 2023-10-20 | by ( ) www.reuters.com   time to read: +2 min
[1/2] The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. "We have made substantial movement in all key areas in an effort to reach a final agreement with the UAW and get our people back to work," the company said in a statement. The automaker said the new 23% general wage increase offer represents a 25% compounded wage rise over the life of the agreement, with 10% hike in the first year. The UAW had no immediate comment ahead of a planned Facebook address by its president, Shawn Fain, at 4 PM ET. The total economic losses from the UAW strike have reached $7.7 billion, according to the latest data from economic consultancy Anderson Economic Group, with the Detroit Three suffering losses of $3.45 billion.
Persons: Rebecca Cook, Shawn Fain, Fain, Tesla, Bill Ford, Pratyush Thakur, Sriraj Organizations: General Motors, REUTERS, UAW, Ford's, Motors, Chrysler, Detroit Three, Toyota, Ford, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, Kentucky, Arlington , Texas, Bengaluru
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. The UAW strike has hit the one-month mark, with more than 34,000 union members working at Ford, General Motors and Chrysler parent Stellantis out on strike, including those who went out on strike at Ford's cash-cow Kentucky pickup truck plant last week. The supplier is considering temporary layoffs and other ways to cut spending to counter the impact of UAW strikes, Durand told reporters. "Given the organic growth out-performance across the regions (excluding North America) and continued execution of synergies, the outlook for 2024 organic growth and margin expansion looks intact," Citi analysts wrote in a client note. It reiterated a 2023 sales forecast of 26.5 billion to 27.5 billion euros and an operating margin target of 5.2% to 6.2%.
Persons: Rebecca Cook, Olivier Durand, Durand, Forvia, Michal Aleksandrowicz, Milla Nissi, Tomasz Janowski, Jan Harvey Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Ford, GM, General Motors, Chrysler, Citi, Thomson Locations: Delta Township, Michigan, Forvia, Kentucky, North America, Gdansk
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 RightsOct 19 (Reuters) - United Auto Workers President Shawn Fain will hold a Facebook Live event on Friday, the union said, as 34,000 of its members continue selective strikes against the Detroit Three automakers over the failure to reach agreements on new contracts. The UAW last expanded its strikes on Oct. 11 when members walked out at Ford's Kentucky truck plant, the company's largest and most profitable plant globally. Fain said last week that UAW members would now walk out of additional Detroit Three facilities without warning rather than waiting until Fridays to announce new plans, as the union had done initially. UAW members who went on strike at Mercedes supplier ZF's plant in Alabama last month demanding higher pay and better healthcare benefits ended a nearly month-long walkout on Thursday.
Persons: Shawn Fain, Rebecca Cook, Fain, Baranjot Kaur, Jamie Freed Organizations: United Auto Workers, REUTERS, Detroit Three, Ford Motor, General Motors, Chrysler, GM, UAW, Detroit, Thomson Locations: Detroit , Michigan, U.S, Ford's Kentucky, Alabama, Bengaluru
Ron DeSantis’s presidential campaign has found an unusual way to pay for his habit of flying in private planes: passing the cost to the better-funded super PAC that is increasingly intertwined with his operation. The super PAC, Never Back Down, pays for Mr. DeSantis’s travel only on days when the events he is attending are hosted solely by the group, the people familiar with the arrangement said. The super PAC now hosts many of his events in early primary states. Federal candidates can appear as “featured guests” of super PACs, but whether a super PAC can also pay for transportation is less clear cut. Super PACs are not allowed to coordinate with campaigns, and campaign finance experts say that Mr. DeSantis’s arrangement — in which he is campaigning for president as a guest of a super PAC — could test that rule.
Persons: Ron DeSantis’s Organizations: Gov, PAC
Calibrate is selling itself to one of its investors, private equity firm Madryn Asset Management. The weight-loss startup is also planning to restructure, per two people with knowledge. The sale comes as Calibrate faces customer complaints and struggles to get some patients medications. Weight-loss startup Calibrate is selling itself to the private equity firm Madryn Asset Management, Insider has learned. The sale was announced in a Slack message to the startup's staff on Friday, according to two employees with direct knowledge.
Persons: couldn't Organizations: Asset Management
Oklahoma's Republican Attorney General Gentner Drummond on Friday sued to stop a state board from establishing and funding what would be the nation's first religious public charter school after the board ignored Drummond's warning that it would violate both the state and U.S. constitutions. Drummond filed the lawsuit with the Oklahoma Supreme Court against the Oklahoma Statewide Virtual Charter School Board after three of the board's members this week signed a contract for the St. Isidore of Seville Catholic Virtual Charter School, which is sponsored by the Archdiocese of Oklahoma City. The school board voted 3-2 in June to approve the Catholic Archdiocese's application to establish the online public charter school, which would be open to students across the state in kindergarten through grade 12. A message left Friday with Rebecca Wilkinson, the executive director of the Oklahoma Statewide Virtual Charter School Board, was not immediately returned, although Wilkinson has said previously she wouldn't comment on pending litigation. The National Alliance for Public Charter Schools, a nonprofit organization that supports the public charter school movement, released a statement Friday in support of Drummond's challenge.
Persons: General Gentner Drummond, Drummond, Isidore of, Rebecca Wilkinson, Wilkinson, Isidore, Kevin Stitt, , Stitt, Stitt's, ” Drummond Organizations: Republican, Oklahoma Supreme, Oklahoma Statewide, Charter School Board, Isidore of Seville Catholic Virtual Charter School, Archdiocese, Oklahoma City, Catholic, Oklahoma's Republican Gov, GOP, Oklahoma, National Alliance for Public Charter Schools Locations: U.S, Isidore of Seville, Oklahoma
Healthcare staffing firm Nomad Health just cut its workforce for the second time this year, as high inflation continues to squeeze hospital budgets. Nomad Health, which connects nurses and other health professionals to open jobs, confirmed in an email to Insider that it announced a round of layoffs affecting its nonclinical workforce on October 3. Alexi Nazem Alexi NazemNomad Health cited similar factors when it slashed 17% of its workforce, or 119 employees, in February. Nomad Health also banked extra cash last year, raising $105 million in June 2022 at an undisclosed valuation. Do you work at Nomad Health?
Persons: Maquel Shaw, Alexi Nazem Alexi, Alexi Nazem, Forbes, he'd, Rebecca Torrence Organizations: Nomad, Nomad Health Locations: rtorrence@insider.com
REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Honda Motor (7267.T) said on Thursday that it aims to set up a joint venture with General Motors (GM.N) and Cruise to begin a driverless ride service in Japan in early 2026. The three companies aim to establish the joint venture in first half of 2024 pending regulatory approval, the Japanese company said in a statement without providing financial details. Vogt said it was hard to say whether offering a driverless ride service in Tokyo posed a unique or distinct challenge for the company. The Japan service is planned to launch in central Tokyo, using dozens of Origins before expanding to a fleet of 500 vehicles, Honda said in its statement. The companies plan to later broaden the service to areas beyond central Tokyo, Honda said.
Persons: Rebecca Cook, Cruise, Waymo, Honda, Kyle Vogt, Vogt, Toshihiro Mibe, Daniel Leussink, Mariko Katsumura, Rocky Swift, David Dolan, Christopher Cushing Organizations: General Motors, REUTERS, Rights, Honda, Cruise, GM, Thomson Locations: Detroit , Michigan, U.S, Japan, San Francisco, United States, Tokyo, Austin
North Korea has been sending IT workers to get remote US jobs, according to the FBI and DOJ. The workers have been using these jobs to raise money for North Korea's ballistic missile program, the US agencies said. The money they earned was funneled to the North Korean weapons program, FBI leaders said at a news conference in St. Louis. AdvertisementAdvertisement"We can tell you that there are thousands of North Korean IT workers that are part of this," spokeswoman Rebecca Wu said. The IT workers generated millions of dollars a year in their wages to benefit North Korea's weapons programs.
Persons: , Louis, Jay Greenberg, Rebecca Wu, Greenberg, Kim Jong Organizations: FBI, DOJ, North, Service, Department of Justice, The Justice Department, Federal, Louis FBI, North Korean, State Department, Department of, Treasury, Justice Department, United Locations: Korea, North Korea, St, St . Louis, North Koreans, China, Russia, Korean, Iran, United States, United Nations
Tesla’s Price Cuts to Weigh on Third-Quarter Earnings
  + stars: | 2023-10-18 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Giant touch screens. EVs have become computers on wheels. WSJ’s Joanna Stern took three of the leading cars on a road trip and then leased the best one. Photo illustration: Annie Zhao/The Wall Street JournalChief Executive Elon Musk is under pressure to show investors that he can keep Tesla ’s profit machine humming, after a disappointing third quarter in which its sales momentum slowed despite steep price cuts. The electric-car pioneer is set to report financial results for the July-to-September period after the markets close Wednesday.
Persons: Joanna Stern, Annie Zhao, Elon Musk, Tesla Organizations: Street
U.S. Senate panel sends three FTC nominations to full Senate
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +1 min
Federal Trade Commissioner Rebecca Slaughter testifies on the "Oversight of the Federal Trade Commission" before the U.S. Senate Consumer Protection, Product Safety, Insurance and Data Security Subcommittee in the Russell Senate Office Building in Washington, U.S., November 27, 2018. REUTERS/Leah Millis/File Photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - The U.S. Senate Commerce Committee voted on Wednesday to send three nominations for the U.S. Federal Trade Commission to the full Senate. THE TAKEIf confirmed by the Senate, as expected, adding the two Republicans will not change the balance of power at the five-member FTC, which also enforces antitrust law. A previous Republican FTC commissioner, Christine Wilson, quit this year and sharply criticized agency leadership. Reporting by Diane Bartz; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Slaughter, Leah Millis, Andrew Ferguson, Melissa Holyoak, Lina Khan, Christine Wilson, Diane Bartz, Jonathan Oatis Organizations: Federal, Federal Trade Commission, U.S . Senate Consumer Protection, Safety, Insurance, Data, Russell Senate, REUTERS, Rights, U.S, Senate, U.S . Federal Trade Commission, Democrat, FTC, Democratic, Amazon.com, Albertsons, Republican, Thomson Locations: Russell, Washington , U.S, Virginia, Utah
Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChinese property giant Country Garden has missed a final deadline to pay interest on a dollar bond, capping a remarkable fall from grace for a company that was once considered among the safest developers in the country. The company hasn’t made a $15.4 million interest payment on an outstanding dollar bond, according to two investors who hold the bond. Country Garden had around $15.2 billion of international bonds and loans outstanding at the end of June, according to its public disclosures.
Persons: Adam Adada, hasn’t Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest
Tesla’s Earnings Fall as Price Cuts Weigh on Profits
  + stars: | 2023-10-18 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Giant touch screens. EVs have become computers on wheels. WSJ’s Joanna Stern took three of the leading cars on a road trip and then leased the best one. Photo illustration: Annie Zhao/The Wall Street JournalTesla ’s profit tumbled 44% in the third quarter as the impact of steep price cuts across the company’s lineup continued to take a toll on the electric-car maker’s bottom line. Revenue was up 9% to $23.4 billion, lifted by higher vehicle deliveries compared to the same year-ago quarter.
Persons: Joanna Stern, Annie Zhao, Tesla Organizations: Revenue
YEARS AGO, my aunt and I used to go to this Spanish restaurant in Sydney and get the shrimp a la plancha. It came with a serving of fries and a simple green salad. Though smaller plates were the popular move at this place, my aunt was like Sally from “When Harry Met Sally,” always ordering exactly what she wanted. Out came our trawler of simply seared shrimp, sailing by tabletops of tiny tapas. As the waiter approached, we’d take bets on the head count.
Persons: Sally, , Harry Met Sally, , we’d Locations: Sydney
The average worker gets 10-14 days of vacation time per year after one year of service, the U.S. Bureau of Labor Statistics reports. "There are a number of organizations that we've worked with who, instead of having vacation maximums, will say vacation minimums, which is an interesting concept," she said. In some cases, companies even require at least five of each employee's vacation days to be taken consecutively — in other words, a mandatory "solid week" of vacation, said Pruitt-Haynes. Fifty-four percent of U.S. workers say they can't or shouldn't completely stop working while on vacation, according to a 2022 Glassdoor report. Turn off any company-owned devices while you're away and plan busy vacation days to keep yourself from thinking about work, he advised.
Persons: Christy Pruitt, Haynes, we've, Pruitt, Rebecca Port, I've, workcations, Jonny Edser Organizations: Society for Human Resource Management, U.S . Bureau of Labor Statistics, Genomics, CNBC Locations: New York, USA
Doubts abound about a new Alzheimer’s blood test
  + stars: | 2023-10-18 | by ( Judith Graham | ) edition.cnn.com   time to read: +10 min
The Quest Diagnostics blood test, AD-Detect, measures elevated levels of amyloid-beta proteins, a signature characteristic of Alzheimer’s. But Alzheimer’s researchers and clinicians aren’t convinced the Quest test is backed by sound scientific research. Though blood tests for Alzheimer’s are likely to become common in the years ahead, the Alzheimer’s Association said it’s premature to offer a test of this kind directly to consumers. Because the science behind blood tests for Alzheimer’s is still developing and because “patients may not really understand the uncertainty of test results,” Edelmayer said, the Alzheimer’s Association “does not endorse the use of the AD-Detect test by consumers.”Quest’s blood test is one of several developments altering the landscape of Alzheimer’s care in the United States. The bottom line: Before taking a test, “older adults need to ask themselves, ‘Why do I want to know this?
Persons: aren’t, Alzheimer’s, Michael Racke, , there’s, Suzanne Schindler, St . Louis, That’s, ” Schindler, Racke, Meera Sheffrin, , Rebecca Edelmayer, ” Edelmayer, Eric Widera, Dr, Sanjay Gupta, Emily Largent, ’ ”, Munro Cullum Organizations: Health, Diagnostics, Alzheimer’s Association, Quest, University of Michigan, International Conference, Washington University School of Medicine, Senior, Stanford Healthcare, The University of Michigan, FDA, National Institute, Aging, University of California, Get CNN, CNN Health, University, Pennsylvania’s Perelman, of Medicine, HIPAA, University of Texas Southwestern Medical Center, Kaiser Health, KFF Locations: U.S, San Diego, St ., United States, San Francisco
GM delays EV truck production by a year at Michigan plant
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: 1 min
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsDETROIT, Oct 17 (Reuters) - General Motors Co (GM.N) said on Tuesday it will delay production of the electric pickup trucks at its Orion, Michigan, plant by a year to better align with "evolving EV demand." The plant had originally been scheduled to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024, but the company said the plan is now to start it in late 2025. It said the change was being made "to better manage capital investment while aligning with evolving EV demand." Reporting by Ben Klayman in Detroit, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Rebecca Cook, Ben Klayman, Franklin Paul Organizations: General Motors, REUTERS, Rights, General Motors Co, Silverado, GMC Sierra, Franklin Paul Our, Thomson Locations: Detroit , Michigan, U.S, Orion, Michigan, Detroit
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Persons: Dow Jones
Come 2025, Sweden's capital city of Stockholm plans to forbid diesel- and gas-powered vehicles from entering the central part of downtown to cut down on emissions. The area bordered by four streets in Stockholm's center, which cover roughly 20 blocks, will become a so-called environmental zone class 3, according to a report by SVT, a national news outlet in Sweden. That zone classification means no diesel or gas vehicles will be permitted to drive within it. It will be Stockholm's first environmental zone class 3, but the plan is to ultimately expand it beyond that 20-block area. Stockholm is not the first to test low-emission areas, but this all-out ban is one of the boldest moves by a major European capital.
Persons: Transport Lars Strömgren Organizations: Transport, SVT Locations: Sweden's, Stockholm, Stockholm's, Sweden, London, Brussels, Oslo
They said the court clerk, in charge of helping jurors and ensuring the trial ran efficiently, also had private conversations with the jury foreperson and pressured jurors to come to a quick verdict. And she pressured jurors to reach a guilty verdict quickly so she could profit from it,” defense attorneys Jim Griffin and Dick Harpootlian wrote. Hill’s book discusses how her Christian faith helped her navigate the sudden fame and responsibility that came with the Murdaugh trial. She said she became convinced of Murdaugh’s guilt when jurors and court officials visited the family home where the shootings happened. “I was mostly concerned about Alex being found innocent when I knew in my heart he was guilty,” Hill wrote.
Persons: , Alex Murdaugh, Rebecca Hill, Clifton Newman, Murdaugh, Hill, , Jim Griffin, Dick Harpootlian, didn't, Neil Gordon, “ I’ve, ” Gordon, Alex, ” Hill, Murdaugh didn't Organizations: COLUMBIA, Hampton County Guardian, South Carolina Attorney General's Locations: South Carolina, Colleton, Southern, Hampton County
The move is the latest sign that electric vehicle production and demand may not be as strong as forecast. GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant. Ford said in July it would slow the ramp-up of electric vehicle production and forecast a full-year loss of $4.5 billion on its EV unit. GM still plans a significant boost in EV production in 2024 including adding a new shift at a Detroit-Hamtramck factory that is currently building EV SUVs and pickup trucks. General Motors said on Tuesday it still plans to end production of the Chevrolet Bolt EV at the end of 2023.
Persons: Rebecca Cook, Ford, General Motors, Ben Klayman, David Shepardson, Will Dunham, Franklin Paul, Chizu Organizations: General Motors, REUTERS, Rights, General Motors Co, GM, Silverado, GMC Sierra, Reuters, United Auto Workers, Detroit -, GMC Sierra EV, General, Chevrolet, Thomson Locations: Detroit , Michigan, U.S, Orion, Detroit, Ohio, Detroit - Hamtramck, United States, Washington
The proportion of Americans working from home is at its lowest level since the pandemic started. AdvertisementAdvertisementThe proportion of Americans working from home has fallen to the lowest level since the pandemic started, according to Census Bureau data. Bloomberg reported that the proportion of Americans working from home peaked in March 2021. The fall in the proportion of Americans working from home comes amid a continued return-to-office drive as COVID-19 rates fall and employers debate the productivity of working from home. AdvertisementAdvertisementA recent report from Goldman Sachs showed that research studies have divergent conclusions on the effects of remote work on productivity.
Persons: , Goldman Sachs, Drew Houston, Fortune, Houston, Insider's Rebecca Knight Organizations: Service, Survey, Bloomberg, Trust
REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 16 (Reuters) - About 3,700 Detroit casino workers are set to strike on Tuesday noon, if a contract deal is not reached, the Detroit Casino Council (DCC) said on Monday. A strike will hit operations at MGM Grand Detroit operated by MGM Resorts International (MGM.N), MotorCity Casino and Hollywood Casino at Greektown operated by Penn Entertainment (PENN.O). On Sept. 29, 99% of voting workers from all unionized groups at the three Detroit casinos voted to authorize the DCC negotiating committee to call a strike. Industry gaming revenues have since surpassed pre-pandemic levels, with the Detroit casino industry generating $2.27 billion in 2022, as per the negotiating committee. The Culinary Workers and Bartenders Unions held a picket at Vegas properties of MGM Resorts and Caesars Entertainment last Thursday.
Persons: Rebecca Cook, Ananta Agarwal, Sriraj Organizations: REUTERS, Detroit, Detroit Casino Council, MGM Grand Detroit, MGM Resorts International, Hollywood, Penn Entertainment, DCC, Industry, Detroit Casino, UAW, Teamsters, Engineers, Michigan Regional, of Carpenters . Unions, MGM, Caesars Entertainment, Wynn Resorts, Culinary Workers, Bartenders Unions, MGM Resorts, Thomson Locations: Detroit , Michigan, Greektown, Detroit, U.S, Vegas, Bengaluru
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/risk-advisory-firms-decide-hong-kong-isnt-worth-it-f2bde437
Persons: Dow Jones
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