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☆ We're hopeful the UAW strike isn't costing Ford as much lost production as GM
▼ + stars: | 2023-10-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Investors just got a look at how much the United Auto Workers strike is costing General Motors (GM) in lost production. The UAW began striking Detroit's three automakers last month after Ford, GM and Chrysler-parent Stellantis (STLA) failed to reach a new labor contract with the union. F GM,STLA 1M mountain Ford, GM and Stellantis 1-month Another industry issue Cramer highlighted is that "EV momentum has definitely stalled." Earlier this month, Ford reported third-quarter auto sales were 7.7% higher, driven by "best-ever sales of hybrids." And, updates on the strike and its impact on Ford production will be crucial for investors like us.

Persons: Ford, there's, we'll, Jim Cramer, Cramer, Mary Barra, Jim Farley, Farley, reevaluate, Jim Cramer's, Jim, Rebecca Cook Organizations: United Auto Workers, General Motors, Ford, UAW, GM, Chrysler, Associated Press, LSEG, UBS, Stellantis, General, Michigan EV, EV, CNBC, Ford Motor Co Locations: Texas, Ford's, North America, Dearborn , Michigan

☆ China's led the EV race – but it may be running out of charge
▼ + stars: | 2023-10-22 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThere's been a clear winner in the global EV race so far: China. Ford CEO Jim Farley announcing its Michigan EV battery plant in February. Bill Pugliano/Getty ImagesConcern about using Chinese battery technology reflects wider global concern about China's domination of the EV battery market, with governments starting to block Chinese investment into mines and factories. AdvertisementAdvertisementAustralia is the world's biggest producer of lithium, a key material for EV batteries, and a major producer of other rare earths. AdvertisementAdvertisementChina may have led the world in the EV race – but those days could well be numbered.

Persons: —, Bill Russo, Chrysler's, CATL, Ariel Cohen, there's, Shawn Fain, Ford, Jim Farley, Bill Pugliano, Jim Chalmers, Cohen, Morgan Stanley, Mazzocco, Bernstein, he's, Biden, it's, Ursula von der, Donald Trump Organizations: EV, European Union, Service, Economic, Financial, Ford, Council's Eurasia Center, of Foreign Relations, UAW, Reuters, Michigan EV, Minerals, Publishing, Center for Strategic, International Studies, South, Japan's Panasonic, European, Benz, Bloomberg, White Locations: China, America, Europe, South Korea, Michigan, Australia, India, Nanjing, Washington ,, Hungary

☆ GM and Ford will answer to Wall Street and the UAW with third-quarter earnings this week
▼ + stars: | 2023-10-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

General Motors and Ford Motor report third-quarter earnings and future guidance this week amid ongoing strikes and contract negotiations with the United Auto Workers union. Patrick T. Fallon | AFP | Getty ImagesThe UAW has consistently used earnings reports and commentary from executives, including GM CEO Mary Barra and Ford CEO Jim Farley, to promote its efforts and collective bargaining. "If GM, Ford and Stellantis are still very profitable for the third quarter, [UAW's] going to claim that, 'They're being too cheap in bargaining, and they should give us more.'" GM has said the work stoppage cost it roughly $200 million in lost production in September. UAW impactJPMorgan estimates strike costs amounted to $145 million at Ford and $191 million at GM in terms of earnings before interest and taxes during the third quarter.

Persons: Jim Farley, Ford, Mary Barra, Patrick T, Fallon, Wheaton, Ford —, Shawn Fain, Wolfe, Rod Lache, Lache, EVs Organizations: General Motors Reuters, General Motors DETROIT, Motors, Ford Motor, United Auto Workers, GM, Ford, LSEG, UAW, Stellantis, Local, Chrysler Corporate, Division, AFP, Getty, Worker Institute, Cornell University, Ford Expedition, Lincoln, Detroit, Detroit automakers Locations: Ontario , California, Kentucky

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

"The UAW is holding the deal hostage over battery plants," said Ford Chief Executive Jim Farley on Sept. 29. Since then, the union has not announced an agreement on battery plant issues with GM or the other automakers. Stellantis and Samsung SDI (006400.KS) have announced plans to build two EV battery plants in Kokomo, Indiana, employing up to 2,800 workers in total. Ford officials have not disclosed details of their proposals for battery plant wages or unionization. Yet, we are very open to working with them on a way forward on the battery plants," Ford executive Kumar Galhotra said on Oct. 12 of talks with the UAW.

Persons: Shawn Fain, bargainers, Jim Farley, Fain, Ultium, Joe Biden's, CATL, Tesla, Stellantis, haven't, Kumar Galhotra, Joe White, Nick Zieminski Organizations: DETROIT, United Auto Workers, Detroit Three, General Motors, Ford, Chrysler, UAW, Detroit, GM, Ultium, Tesla, Samsung SDI, Thomson Locations: Northeast Ohio, Detroit, U.S, Michigan, Belvidere , Illinois, KS, Kokomo , Indiana

☆ Premarket stocks: What the Israel-Hamas war means for US markets
▼ + stars: | 2023-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Growing unrest in the Middle East has cast a shadow on global financial markets. Israeli stocks listed in New York and Tel Aviv have sunk to recent lows, underscoring the growing economic uncertainties in the war-torn region and leaving investors unsure of where markets go from here. Funds in the US hold more than $43 billion in Israeli stocks and bonds, according to a Bloomberg tracker. Big names, big exposure: As the war continues, businesses with headquarters, factories and inventory in Israel appear increasingly at risk to geopolitical turmoil. “If the war remains confined between Israel and Palestinians, it’s likely that the markets will forget about it after a few days,” he wrote.

Persons: ”, Steven Schoenfeld, Jamie Dimon, “, Benjamin Netanyahu, Raffi Boyadjian, Sam Stovall, Nathaniel Meyersohn, drugstores, David Silverman, Bill Ford, Vanessa Yurkevich, Ford, Jim Farley, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Nasdaq, Funds, Bloomberg, Hamas, Bank of Israel, JPMorgan, Israel Innovative Technology, Mobileye, Tower Semiconductor, Teva Pharmaceutical, XM, CVS, Walgreens, Walmart, Fitch, Ford Motor Company, United Auto Workers, Big Three, UAW, Monday, Ford Locations: New York, Tel Aviv, New Jersey, Israel, United States, Canada, China, Ukraine, Kippur, Kuwait, Kansas City, drugstores, Rouge, Dearborn , Michigan

[1/5] Bill Ford, executive chairman of Ford Motor Company, speaks at their Rouge Visitor Center in Dearborn, Michigan, U.S. October 16, 2023. "We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky Truck plant. The UAW's walkout at Kentucky Truck, Ford's largest and most profitable assembly operation globally, "harms tens of thousands of American workers," Ford said. On Friday, UAW President Shawn Fain accused Ford of trying to game the talks with inadequate offers and insisted Ford sharply boost compensation. On Thursday, a senior Ford executive said the automaker was "at the limit" of what it can spend on higher wages and benefits for the UAW.

Persons: Bill Ford, Jeff Kowalsky, Ford, Henry Ford, Shawn Fain, Jim Farley's, Fain, Farley, Harley Shaiken, Stellantis, Joseph White, David Shepardson, Ben Klayman, Franklin Paul, Grant McCool, David Gregorio Our Organizations: Ford Motor Company, Rouge Visitor, Ford Motor Co, REUTERS, Acquire, Rights, Monday, United Auto Workers, UAW, Ford, General Motors, Chrysler, Toyota, Honda, Kentucky, University of California, GM, Thomson Locations: Dearborn , Michigan, U.S, Rights DEARBORN , Michigan, Kentucky, University of California Berkeley, Dearborn

GM will report third-quarter results Oct. 24, with Ford following on Oct. 26. The strikes have costing GM and Ford more than $500 million, JP Morgan analyst Ryan Brinkman estimated in a note Monday. Ford is now losing $44 million a day, while GM is losing $21 million a day, Brinkman estimated. GM and Ford shares have fallen sharply since July as the standoff with the UAW has intensified. GM has set up a new, $6 billion credit line as insurance against an expanded UAW strike.

Persons: Rebecca Cook, Morgan Stanley, Adam Jonas, Morgan, Ryan Brinkman, Ford, Brinkman, Shawn Fain, Fain, Mich, Farley, Tim Piechowski, Joe White, David Evans Organizations: Rouge Electric Vehicle, REUTERS, Rights, General Motors, Ford, United Auto Workers, GM, Ford's, Kentucky, Detroit, EV, UAW, Capital Research, Investments, Thomson Locations: Dearborn , Michigan, U.S, Ford's Kentucky, Marshall

[1/5] Bill Ford, executive chairman of Ford Motor Company, speaks at their Rouge Visitor Center in Dearborn, Michigan, U.S. October 16, 2023. "We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky plant. UAW President Shawn Fain replied with a statement warning Ford that the union could "close the Rouge" with a strike. The UAW's walkout at Kentucky Truck, Ford's largest and most profitable assembly operation globally, "harms tens of thousands of American workers," Ford said. On Friday, Fain accused Ford of trying to game the talks with inadequate offers and insisted Ford sharply boost compensation.

Persons: Bill Ford, Jeff Kowalsky, Ford, Shawn Fain, Fain, We’ve, Henry Ford, Jim Farley, Harley Shaiken, Shaiken, Stellantis, Joseph White, David Shepardson, Ben Klayman, Franklin Paul, David Gregorio, Grant McCool Organizations: Ford Motor Company, Rouge Visitor, Ford Motor Co, REUTERS, Acquire, Rights, Monday, United Auto Workers, UAW, Ford, General Motors, Chrysler, Detroit Three, Anderson Economic Group, AEG, Toyota, Honda, U.S, Kentucky, University of California, GM, Thomson Locations: Dearborn , Michigan, U.S, Rights DEARBORN , Michigan, Kentucky, American, Stellantis, East Lansing , Michigan, University of California Berkeley, Dearborn

[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Some analysts said the decision to shut down Kentucky Truck and other high-profit Detroit Three operations is a sign that the endgame could be starting in the labor dispute. The tens of thousands of Ford workers with no retirement security."

Persons: Luke Sharrett, Shawn Fain, “ We’re, ”, Fain, We're, Ford, Jim Farley's, Farley, ” Ford, Arthur Wheaton, Stellantis, Kumar Galhotra, who's, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joseph White, Abhirup Roy, Pushkala Aripaka, Shivansh, Amna, David Gaffen, Jamie Freed, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Ford, Kentucky, General Motors, Chrysler, Detroit automakers, GM, Detroit, Cornell University, Reuters, Ford Bronco, EV, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Wells, Milan, Louisville, Ford's Michigan, Washington, Detroit, San Francisco, Bengaluru

☆ Here's a rapid-fire update on all 36 stocks in our portfolio, including our latest addition
▼ + stars: | 2023-10-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 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. After reducing expenses to improve margins on its retail business, Jim said it's on the right track. Costco Wholesale (COST): Costco remains one of Jim's favorite stocks in the entire our entire portfolio. Ford Motor (F): Jim expressed confidence in Ford CEO Jim Farley, as the targeted United Auto Workers strike approaches the one-month mark. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, there's, it's, Bausch, we're, We've, Coterra, Dupont, We're, Nelson Peltz, Peltz, Estee Lauder, Patience, Fabrizio Freda, Emerson, Jim Farley, Ford, Locker, Mary Dillon, GEHC, Vimal Kapur, Bruce Broussard, Broussard, he's, Eli Lilly, Lilly, Mark Zuckerberg, Morgan Stanley, Morgan Stanley's, James Gorman, Laxman Narasimhan, Elliott, Stanley Black, Decker, Piper, Wells Fargo, Wells, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Federal Trade, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Exxon Mobil, Natural Resources, Disney, ESPN, Hulu, Comcast, Emerson, National Instruments, Ford, United Auto Workers, Nike, GE Healthcare, Electric, GE, Honeywell International, Honeywell, Humana, Linde, LIN, Microsoft, Nvidia, Oracle, Alto Networks, cyberattacks, Palo Alto Networks, Procter & Gamble, Pioneer, Exxon, Constellation Brands, Elliott Management, FactSet, TJX, Marshalls, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: China, U.S, Maxx, Las Vegas, Boston, Macau, Asia

Fain also wants workers at the plants to make top UAW assembly plant wages, which now are $32 per hour. Political Cartoons View All 1205 Images“The battery plants are going to be the make-or-break issue,” said Sam Abuelsamid, a mobility analyst for Guidehouse Insights. And if lower-paying battery plants aren't union, workers won't have anywhere to get the same wages and benefits. But they also see a future where buyers could switch, and they think wages at the battery plants should match what they make. The UAW, he said, will use this to try to organize other Korean-owned battery plants.

Persons: WAYNE, Shawn Fain's, Stellantis, they'll, Fain, ”, Sam Abuelsamid, It’s, festering, Ford, Jim Farley, “, ” Fain, Farley, Mary Barra, Chris Jedrzejek, Jedrzejek, Todd Lauerman, “ it’s, ” It's, Abuelsamid, let's, Harry Katz, Katz, Marick, Masters Organizations: Ford, United Auto Workers, EV, General Motors, Detroit, UAW, Korean, Guidehouse, GM, Carnegie Mellon University, Bronco, Toyota, Cornell University, “, Wayne State University Locations: Mich, Detroit, U.S, Kentucky, Tennessee, Michigan, Ford, Korean, Wayne , Michigan, Ohio, South Bend , Indiana

☆ Installing solar isn't the only big financial decision to make about controlling home power
▼ + stars: | 2023-10-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

That means it may be a good time to consider a home backup power storage system. Fossil fuel vs. battery power If you're not opposed to fossil fuel-powered options, there are several categories to consider based on your power needs. EVs as a backup power option for the home Some electrical vehicles can be used to back up essential items, or, in some cases, a whole home. "If you're contemplating spending $10,000 on a whole home gas generator system, why not think about an EV with this capability instead?" Some states provide additional solar battery incentives.

Persons: Ian Thomas Jansen, Lonnquist, Benjamin R, Dierker, Vikram Aggarwal, EnergySage, it's, Aggarwal, EVs, Ford's, Jim Farley, Stephen Pantano, Pantano, Sarah Delisle, Ted Tiffany, Tiffany Organizations: Motors Inc, Bloomberg, Getty, Alliance for Innovation, National Centers for Environmental, Consumers, GM, Ford, Swell Energy, Decarbonization Coalition, of Energy, Homeowners, Energy Department Locations: United States, California , Texas, Louisiana, California, California , Vermont , Massachusetts, New York, America

"Our strike is working, but we’re not there yet," UAW President Shawn Fain said in a livestreamed update on negotiations with the three automakers. Threatening to strike against GM's Arlington, Texas, plant that makes cash-cow SUVs like the Cadillac Escalade spurred GM to agree that EV battery factories would become union plants with UAW contracts, Fain said. GM is building three Ultium joint-venture battery plants with South Korea's LG Energy Solution (373220.KS). GM is building a fourth U.S. battery plant with Samsung SDI (006400.KS) in Indiana. Fain also said on Friday that the UAW could still strike against highly profitable pickup truck plants if progress stalls.

Persons: Rebecca Cook, General Motors, we’re, Shawn Fain, GM's, Fain, Sam Fiorani, Ultium, Harley Shaiken, Jim Farley, Ford, Stellantis, Mark Stewart, Tesla, Elon, we've, walkouts, Joe White, David Shepardson, Abhirup Roy, Dan Burns, Ben Klayman, Abhijith, David Gaffen, Peter Henderson, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, General Motors Lansing Delta, Michigan U.S, REUTERS, Detroit Three, UAW GM, UAW, GM, Ford, Detroit, General, Ford Motor, Chrysler, EV, AutoForecast Solutions, Korea's LG Energy, Democratic U.S, Samsung SDI, University of California, LG, Samsung, American, Reuters Graphics Reuters, Thomson Locations: Delta Township, Michigan, DETROIT, GM's Arlington , Texas, U.S, Ohio, Indiana, Berkeley, Milan, Detroit, Washington

This is the first week since targeted strikes by the UAW started on Sept. 15 that the union will not expand the work stoppages at GM, Ford Motor or Chrysler-parent Stellantis . GM, with its battery plant in Ohio, is the only Detroit automaker with a joint venture battery plant in operation and unionized in the U.S. watch nowElectric vehicle battery plants have been a major point of contention in this year's talks between the union and the three Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't covered by the automakers' agreements with the union. Ford CEO Jim Farley said last week that the UAW is "holding the deal hostage over battery plants."

Persons: Shawn Fain, Fain, We've, Jim Farley, Ford, Mark Stewart, who's, Stewart, Rebecca Cook Organizations: GM, Detroit automakers, DETROIT, United Auto Workers, Detroit, General Motors, UAW, Ford Motor, Chrysler, Arlington Assembly, U.S, LG Energy, Samsung SDI, Ford, North, General Motors Lansing Delta Plant Locations: Arlington, Ohio, United States, U.S, North America, Delta Township , Michigan

☆ Public spats, layoffs, and new offers: The UAW strike is heating up in week 3
▼ + stars: | 2023-10-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

GM, Ford, and some suppliers are resorting to layoffs. AdvertisementAdvertisementThe ripple effects of the UAW's unprecedented strike at Ford, GM, and Stellantis are getting wider as the work stoppages stretch through a third week. The UAW responded on X, formerly known as Twitter, saying that the CEO had not attended bargaining that week. The impact of lost production is also affecting suppliers now, with the vehicle-suppliers association MEMA reporting about a third of suppliers have issued layoffs due to the UAW strike. Fain is scheduled to address UAW members in a livestream Friday afternoon, a platform he's previously used to expand the strike when he's unhappy with the pace of negotiations.

Persons: Shawn Fain, —, Jim Farley, Mary Barra, Fain, Barra, Farley, Ford, axel, Stellantis, he's Organizations: Detroit, UAW, GM, Ford, Service Locations: Chicago, Lansing , Michigan, Detroit, Michigan, Parma , Ohio

☆ Jim Cramer says Ford may eventually look to shift some production to Mexico amid UAW strike
▼ + stars: | 2023-10-05 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

As the United Auto Workers strike against the Detroit Big 3 persists, CNBC's Jim Cramer said Thursday he believes Ford (F) may eventually consider shifting additional production to Mexico. "There is some movement between Ford and the UAW," Cramer said on "Squawk on the Street." However, Cramer said, "I have a feeling that, if they don't come to the table soon, Mexico will be in play." Cramer suggested that could occur within "a couple of weeks," while noting Ford already has assembly plants south of the border. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.

Persons: CNBC's Jim Cramer, Ford, Cramer, Dan Barbossa, Barbossa, Jim Cramer's, Jim Farley Organizations: United Auto Workers, Detroit, Ford, UAW, Cramer's Charitable Trust, CNBC, Club, General Motors, Chrysler Locations: Mexico, Cramer's, U.S

☆ GM secures new $6 billion credit line as UAW strike costs reach $200 million
▼ + stars: | 2023-10-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. The targeted strikes already cost the automaker $200 million during the third quarter, GM said Wednesday. A GM spokesman said the $200 million strike cost is due to lost production on wholesale volume, largely due to the UAW's initial Sept. 15 strike at GM's midsize truck and full-size van plant in Wentzville, Missouri. The strike has since expanded to GM's parts and distribution facilities nationwide and, as of last Friday, a crossover plant in mid-Michigan. As a result of the strike in Missouri, GM also idled its Fairfax Assembly Plant in Kansas, where it builds the Cadillac XT4 SUV and the Chevrolet Malibu sedan, and laid off nearly 2,000 workers.

Persons: General Motors, Paul Jacobson, CNBC's Phil LeBeau, Mary Barra, Jim Farley, Shawn Fain, Fain Organizations: DETROIT, General, United Auto Workers, UAW, GM, Fairfax Assembly Plant, Chevrolet Malibu, Ford Motor, Ford, Chrysler Locations: Wentzville , Missouri, Michigan, Missouri, Fairfax, Kansas

☆ Ford makes new offer in US labor dispute, GM furloughs more workers
▼ + stars: | 2023-10-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The Dearborn, Michigan automaker said the new offer boosted wages for temporary workers, increased company 401(k) contributions and had further shrunk time needed to get to the top wage rate. UAW President Shawn Fain on Friday expanded the first-ever simultaneous strike against the Detroit Three to a GM Lansing, Michigan, plant and a Ford Chicago assembly plant, but Stellantis was spared after last-minute concessions. The UAW said on Monday it presented a new contract offer to General Motors (GM.N). Earlier Tuesday, GM said it furloughed 163 UAW workers at GM’s Toledo Propulsion Systems plant that makes transmissions for both the automaker's Missouri and Lansing Delta Township assembly plants that are on strike. On Monday, GM and Ford said they laid off another 500 workers at four Midwestern plants because of the impact of the strike.

Persons: Shawn Fain, Stellantis, Ford, Jim Farley, David Shepardson, Matthew Lewis, Chris Reese Organizations: Ford, United Auto Workers, UAW, Detroit, General Motors, GM, Chrysler, Propulsion Systems, Anderson Economic, Thomson Locations: Dearborn, Michigan, Lansing , Michigan, Ford Chicago, Missouri, Lansing Delta, Kansas, Ohio, Indiana, Washington

UAW President Shawn Fain has transformed the rituals of contract talks with General Motors(GM.N), Ford(F.N) and Chrysler parent Stellantis (STLAM.MI) into a high-stakes, made-for-media game. GM and Ford said Monday they were indefinitely laying off another 500 workers at four Midwestern plants, citing the impact of the walkouts. Analysts looking ahead to third-quarter financial results this month are starting to reckon the costs of what the UAW calls "Stand up strikes." Ford plans four EV battery plants in the U.S. - three under joint ventures with South Korean battery maker SK On(096770.KS). GM's joint venture battery plants also have separate status and GM has declined to include them in negotiations.

Persons: Shawn Fain, Mack Trucks, Ford, JP Morgan, Fain, Harley Shaiken, Mary Barra, Jim Farley, Farley, CATL, GM's, . Company bargainers, Joseph White, Ben Klayman, David Shepardson, David Gregorio Our Organizations: DETROIT, United Auto Workers, Detroit Three, UAW, General Motors, Ford, Chrysler, Volvo Group, GM, Chevrolet, University of California Berkley, automaker's, automaker's Michigan Assembly, SK, . Company, ”, Thomson Locations: Escalade, automaker's Michigan, U.S, Korean, Marshall , Michigan

☆ GM furloughs another 160 workers due to UAW strike
▼ + stars: | 2023-10-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 2 (Reuters) - General Motors (GM.N) said Monday it was indefinitely laying off about 160 workers at plants in Indiana and Ohio because of the impact of the United Auto Workers strike on some facilities. The UAW on Friday said it would strike at GM's Lansing Delta Township assembly plant that makes the Buick Enclave and Chevrolet Traverse SUVs after previously striking at GM's Missouri assembly plant and 18 parts distribution centers. The new GM furloughs include 130 at its Parma, Ohio Metal Center and 34 at its Marion, Indiana Metal Center. The UAW strike on Monday was entering its 18th day after the chief executives of GM and Ford blasted the UAW on Friday, hours after the union escalated the strike.

Persons: Rebecca Cook, Shawn Fain, Mary Barra, Jim Farley, David Shepardson, Ed Osmond, Bernadette Baum Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, General Motors, Buick Enclave, Chevrolet Traverse, Detroit automaker, GM, Ohio Metal Center, Marion , Indiana Metal Center, Detroit, Ford, Chrysler, JPMorgan, Thomson Locations: Delta Township, Michigan, Indiana and Ohio, GM's Lansing Delta, GM's Missouri, Fairfax , Kansas, Parma, Marion ,, Lansing, Chicago

☆ How Much to Tip at a Restaurant, Hotel, Bar, and Other Places
▼ + stars: | 2023-09-30 | by ( Sarah Jackson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementIt's not a big question about whether you should tip a server in a sit-down restaurant: That's pretty well-established. But what about all the other places where tip jars — virtual or otherwise — are popping up, especially since the pandemic upended tipping norms? AdvertisementAdvertisementHotel staff: It variesWhen you're traveling, budget an extra $2 to $5 per night to tip your housekeeper at a hotel, Johnson said. AdvertisementAdvertisementBeauty services: Around 20%Tipping for beauty services at places like nail and hair salons should fall in the range of 15% to 20%, Johnson said. Taxis and ride-hailing services: 15% to 20%If you're taking a taxi or using a ride-hailing service like Uber or Lyft, you'll want to go for a 15 to 20% tip, Leighton said.

Persons: Uber, —, Michael Lynn, Thomas Farley, Mister Manners, Farley, Avery Johnson, Johnson, Nick Leighton, Leighton Organizations: Service, Cornell University School of Hotel Administration, New York State Department of Labor, The Southern Academy of, American, & Lodging Association Locations: New York, Phoenix

[1/2]Striking United Auto Workers (UAW) union workers picket outside the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 23, 2023. Workers went on strike on Sept. 15 at one plant each from GM, Ford and Stellantis. The union escalated on Sept. 22, when workers walked off the job at GM and Stellantis distribution facilities in 20 states nationwide. UAW workers also are threatening to walk off the job at heavy truck maker Mack Trucks on Sunday, and at three Detroit casinos. A UAW strike has shut down a plant that builds axles for Mercedes-Benz's Alabama vehicle factory.

Persons: Shawn Fain, Fain, Stellantis, Mary Barra, Jim Farley, Farley, Joe Biden, Barra, Sam Fiorani, Ford, Nalio Chery, Arthur Wheaton, Mack Trucks, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Bianca Flowers, Shivansh, Abhijith G, Peter Henderson, Nick Zieminski, David Gregorio, Jonathan Oatis Organizations: UAW, Lansing , Michigan Ford, GM, Ford, United Auto Workers, Detroit, Chrysler, Mack Trucks, AutoForecast Solutions, Ford Michigan Assembly Plant, REUTERS, Workers, Ford Explorer, Lincoln Aviator, Traverse, Buick, Marshall, Cornell University, Mercedes, Reuters, Thomson Locations: Chicago, Lansing , Michigan, DETROIT, Barra, Detroit, Wayne , Michigan, U.S, Dieu, Lansing, Michigan, Marshall , Michigan, Alabama

☆ Ford CEO says UAW holding labor deal 'hostage' over fate of battery plants
▼ + stars: | 2023-09-29 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

"The UAW is holding the deal hostage over battery plants," Farley said, and claimed a "bad deal" could threaten financial viability of some U.S. vehicle production. On Monday, Ford said it had paused work on its $3.5 billion Marshall, Michigan battery plant that will use technology licensed from Chinese battery company CATL (300750.SZ), citing concerns about its ability to operate competitively. In 2022, Congress passed the Inflation Reduction Act (IRA) barring $7,500 in future consumer EV tax credits if any battery components are manufactured or assembled by a "foreign entity of concern." Ford is awaiting guidance to determine if batteries produced by the Marshall plant would meet the requirements. Republican lawmakers have been probing Ford's battery plant plan for months over concerns it could send U.S. tax subsidies to China and leave Ford dependent on Chinese technology.

Persons: Jim Farley, Rebecca Cook, Farley, Shawn Fain, Ford, Marshall, Janet Yellen, Jennifer Granholm, David Shepardson, Chris Reese, David Gregorio Our Organizations: Ford Motor, North American, REUTERS, Rights, Ford, United Auto Workers, U.S . Treasury, UAW, Energy, Republican, Thomson Locations: Detroit , Michigan, U.S, Michigan, Marshall, China

“I don’t know why Jim Farley is lying about the state of negotiations," Fain said in a statement responding to the Ford CEO. The UAW wants those workers represented by the union and paid the highest-tier wages. Workers went on strike on Sept. 15 at one plant each from GM, Ford and Stellantis. UAW workers are threatening to walk off the job at heavy truck maker Mack Trucks on Sunday, and at three Detroit casinos. A UAW strike has shut down a plant that builds axles for Mercedes-Benz's Alabama vehicle factory.

Persons: Jim Farley, Shawn Fain, Stellantis, Fain, Sam Fiorani, Joe Biden, Ford, Farley, Arthur Wheaton, Mack Trucks, Silverados, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Bianca Flowers, Shivansh, Abhijith G, Peter Henderson, Nick Zieminski, David Gregorio, Jonathan Oatis Organizations: UAW, Lansing , Michigan Ford, Ford, United Auto Workers, Detroit, Chrysler, Mack Trucks, AutoForecast Solutions, Workers, Ford Explorer, Lincoln Aviator, Traverse, Buick, Marshall, General Motors, GM, Cornell University, Mercedes, Reuters, Thomson Locations: Chicago, Lansing , Michigan, DETROIT, U.S, Detroit, Lansing, Michigan, Marshall , Michigan, Alabama

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