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☆ Delta says Hollywood, auto strikes are denting business travel
▼ + stars: | 2023-10-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Delta Airlines passenger jet approaches to land at LAX during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., April 7, 2021. Recent strikes by Hollywood talent and United Auto Workers union members are a "drag" on business travel demand, which is otherwise recovering, Delta Air Lines President Glen Hauenstein said Thursday. The strikes have had "a not insignificant change in the business travel to and from Los Angeles as well as now the UAW strike, which curtailed a significant amount of the business in Detroit," Hauenstein said on an earnings call Thursday. But Hollywood actors, represented by the Screen Actors Guild-American Federation of Television and Radio Artists, are still on strike. Delta's Hauenstein noted that demand from technology and financial services customers posted double-digit growth in the third quarter, contributing to an overall rebound for business travel.

Persons: Glen Hauenstein, Hauenstein, Delta's Hauenstein Organizations: Delta Airlines, LAX, Hollywood, United Auto Workers, Delta Air Lines, Detroit Metropolitan Wayne County Airport, Los Angeles International Airport, UAW, Detroit, Screen, American Federation of Television, Radio Artists, Alliance, Television Producers, Disney, Universal, Netflix, Comcast, CNBC Locations: Los Angeles , California, U.S, Los Angeles, Detroit, NBCUniversal

They note that the job cuts have occurred mainly at factories that make parts for assembly plants that were closed by strikes. In one case, layoffs have been imposed at a factory that uses supplies from a parts factory on strike. The factories that have been affected by layoffs are in six states: Michigan, Ohio, Illinois, Kansas, Indiana and New York. UAW President Shawn Fain countered in a statement that the automakers were using layoffs to pressure the union into settling the strike. Once metal stamping factories that supply multiple assembly plants have produced enough parts for non-striking facilities, the companies would likely shut them down.

Persons: —, Sam Fiorani, Fiorani, ”, “, Bryce Currie, Shawn Fain, Fain, ” Fain, Ford, Stellantis, you've, Patrick Anderson Organizations: DETROIT, United Auto Workers, UAW, AutoForecast Solutions, Ford, General Motors, GM, Chevrolet Malibu, Sterling, ”, Anderson Economic, Suppliers Locations: Michigan , Ohio , Illinois , Kansas , Indiana, New York, Americas, Kansas City , Kansas, Wentzville , Missouri, Lockport , New York, Toledo , Ohio, Marion , Indiana, Parma , Ohio, Lansing , Michigan, Wayne , Michigan, Chicago, Sterling Heights, Livonia , Michigan, Cleveland, Lima , Ohio, Trenton , Michigan, Kokomo , Indiana, Toledo

☆ UAW launches strike against Ford's Kentucky truck plant, signaling major escalation in labor fight
▼ + stars: | 2023-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – United Auto Workers has unexpectedly expanded its U.S. strikes at Ford Motor to a highly profitable SUV and truck plant for the automaker in Kentucky. ET at Ford's Kentucky Truck Plant, where the automaker produces Ford Super Duty pickups as well as the Ford Expedition and the Lincoln Navigator. The union's decision to strike the plant, which is Ford's largest in terms of employment and revenue, is a major escalation in its targeted, or "stand up," strikes. Fain said the union expects Stellantis and Ford Motor to follow suit, including battery plant workers in eventual contract agreements. Only 25,200 workers, or roughly 17% of UAW members covered by the expired contracts with the Detroit automakers, are currently on strike.

Persons: Shawn Fain, Ford, leadership's, Jonah Furman, Shawn Fain's, Fain Organizations: DETROIT, United Auto Workers, Ford Motor, Ford, Ford Expedition, Lincoln Navigator, UAW, Ford's, Detroit, Detroit automakers, General Motors, EV Locations: Kentucky

Such cautious views are generally seen as evidence that the Fed isn't necessarily inclined to raise rates in the near future. Economic data from the past several months “generally suggested that inflation was slowing,” the minutes of the Sept. 19-20 meeting said. For most of the past two years, the Fed had said the risks were heavily tilted toward not raising rates enough. Waller also underscored the Fed’s cautious approach in his remarks in Park City, Utah, during a question-and-answer session. They showed that Fed officials expected to cut rates only twice next year.

Persons: Christopher Waller, Waller, “, ” Waller, ”, Jerome Powell, we’ve Organizations: WASHINGTON, — Federal, Fed, United Auto Workers, Detroit Locations: U.S, China, United States, Park City , Utah

TORONTO (AP) — Auto workers walked off the job at three General Motors facilities in Canada early Tuesday after failing to reach agreement with the automaker. Their union, Unifor, represents more than 4,200 workers at the plants. They had warned they would begin a strike if no agreement was struck with GM by midnight local time. Workers at Ford of Canada ratified a new deal late last month that raises base hourly pay for production workers by almost 20% over three years. Unifor had earlier avoided going on strike against the Detroit automakers, unlike its U.S. counterpart, the United Auto Workers.

Persons: ”, Lana Payne, General Motors, ” Payne, ” Jennifer Wright, Payne, Unifor Organizations: TORONTO, — Auto, General, GM, Ford, General Motors Corp, Unifor, Oshawa Assembly, Operations, Catharines Propulsion Plant, Woodstock, Distribution, Workers, Canada, Detroit, ., United Auto Workers Locations: Canada, St, Catharines, Oshawa , Ontario, CAMI, Ingersoll , Ontario

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

☆ Canadian autoworkers strike against General Motors, joining UAW
▼ + stars: | 2023-10-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Richard Lautens | Toronto Star | Getty ImagesDETROIT — Labor strikes are now an international issue for General Motors after the Detroit automaker failed to reach a tentative agreement by Monday for roughly 4,300 workers represented by Canadian union Unifor. The Canadian autoworkers will join roughly 9,200 United Auto Workers members who are on strike in the U.S. at two assembly plants and 18 parts and distribution centers for GM. Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023. Rebecca Cook | ReutersUnifor, which represents 18,000 Canadian workers at the Detroit automakers, took a more traditional approach to its negotiations than its U.S. counterpart. 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 Chrysler parent Stellantis .

Persons: Lana Payne, UNIFOR, Richard Lautens, Rebecca Cook, Payne Organizations: Metro Toronto Convention, Toronto Star, Getty, DETROIT — Labor, General Motors, Detroit, United Auto Workers, GM, Chevrolet Silverado, Unifor, UAW, General Motors Lansing Delta Plant, Reuters Unifor, Detroit automakers, U.S ., Ford, Chrysler Locations: Canadian, U.S, Ontario, Delta Township , Michigan, Canada

☆ CarMax CEO says it's 'a little early' to see how the UAW strikes will impact business
▼ + stars: | 2023-10-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CEO of used-car retailer CarMax , Bill Nash, told CNBC's Jim Cramer it's "a little early" to tell what effect the United Autoworkers Union strike will have on his company's business. "I think as far as the UAW strike [is concerned], it's a little early to tell the impact it's going to have on the business — you know, it really depends on how long it goes, and if there's going to be an expansion," Nash said. The UAW began its strike on three Detroit automakers — Ford Motor , Stellantis and General Motors — last month. CarMax will continue to monitor the strike, Nash said, but added so far it hasn't played into the overall industry. Nash also discussed how inflation and high interest rates are affecting customers looking to buy both newer and older models.

Persons: Bill Nash, CNBC's Jim Cramer it's, Nash, Motors —, CarMax, hasn't Organizations: United Autoworkers Union, UAW, Detroit, Ford

☆ Hollywood writers union ratifies three-year labor contract after strike
▼ + stars: | 2023-10-09 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. Members of the SAG-AFTRA actors union walked off the job in July and were meeting studio negotiators again on Monday to try to reach an agreement. The Alliance of Motion Picture and Television Producers (AMPTP), which represents Walt Disney (DIS.N), Netflix (NFLX.O) and other media companies, said the contract "represents meaningful gains and protections for writers." "It is important progress for our industry that writers are back to work," the group said in a statement. Negotiators for the SAG-AFTRA actors union continued contract talks with studios on Monday.

Persons: Mike Blake, Meredith Stiehm, Walt Disney, Jimmy Kimmel, Bill Maher, ”, Lisa Takeuchi Cullen, Lisa Richwine, Chris Reese, Marguerita Choy Organizations: Writers Guild of America, Disney Studios, REUTERS, WGA, SAG, UPS, Alliance, Television Producers, Walt, Netflix, Milken, Thomson Locations: Burbank , California, U.S, Hollywood, United States, Detroit, California

☆ GM expands strike layoffs by nearly 200 workers
▼ + stars: | 2023-10-09 | 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 RightsOct 9 (Reuters) - General Motors (GM.N) on Monday said it was laying off nearly 200 additional workers due to the United Auto Workers strike, adding a sixth impacted plant. The Detroit automaker last week said about 2,100 workers had been impacted by the strike of two of its assembly plants in Missouri and Michigan and 18 parts distribution centers. GM on Monday said about 2,300 workers are now impacted, including 70 layoffs at its Lansing, Michigan, stamping plant and about 70 additional layoffs at a Toledo, Ohio, plant. GM said workers are not expected to return until the strike is resolved.

Persons: Rebecca Cook, David Shepardson, Mark Porter Organizations: General Motors, REUTERS, United Auto Workers, Detroit, GM, Thomson Locations: Detroit , Michigan, U.S, Missouri, Michigan, Lansing , Michigan, Toledo , Ohio

☆ UAW Mack Trucks union members to join striking Detroit autoworkers on picket lines after voting down tentative deal
▼ + stars: | 2023-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. DETROIT – About 3,900 United Auto Workers members with Mack Trucks will go on strike Monday after a majority of members rejected a tentative agreement reached last week by the union and company. The tentative agreement was voted down by 73% of UAW members who voted, the union said Sunday night. The Mack Trucks workers will add to tens of thousands of other striking UAW members, most notably more than 25,000 employees with General Motors , Ford Motor and Stellantis . Mack Trucks President Stephen Roy said the company is "surprised and disappointed that the UAW has chosen to strike, which we feel is unnecessary."

Persons: Mack Trucks, Shawn Fain, Mack, what's, Fain, Detroit autoworkers, Stephen Roy Organizations: UAW, DETROIT –, United Auto Workers, Workers, General Motors, Ford Motor, Detroit, Volvo Group, Detroit automakers, CNBC Locations: Chicago , Illinois, DETROIT, Pennsylvania , Maryland, Florida

☆ GM is shaping up to be the hardest hit by the UAW strike
▼ + stars: | 2023-10-08 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +6 min

GM has the most workers on strike of all the Detroit 3. AdvertisementAdvertisementThe ongoing United Auto Workers strike is taking a multi-million dollar toll on all three Detroit-based automakers, but General Motors might be hit the hardest so far. GM narrowly avoided a fourth strike Friday with an offer that delayed Fain's weekly update for members. This is also the second time in four years that GM has experienced a strike . AdvertisementAdvertisementAnd of the three automakers, GM also has the most striking workers and has temporarily laid off the most workers due to the strike.

Persons: —, Stellantis, Shawn Fain, Fain, Dan Ives, Mary Barra's, Tesla, Jim Cain, Cain, Ford, Ford's, Sam Fiorani, Fiorani, there's, It's, Cox, GM wasn't, Edmunds, Jessica Caldwell Organizations: GM, Detroit, Service, United Auto Workers, UAW, Ford, UAW nabbed, Detroit automakers, Wedbush Securities, Cox, AutoForecast Solutions, Jeep, Chrysler, Dodge, Buick, GMC, Chevrolet, Cadillac, Deutsche Bank Locations: Detroit, Arlington , Texas, Lincoln

☆ UAW Mack Trucks deal could be a test for worker demands amid Detroit automaker negotiations
▼ + stars: | 2023-10-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Mack Trucks and UAW announced the tentative agreement early Monday, followed by releasing "highlights" of the deal later in the week to members. Neither UAW nor Mack Trucks have publicly released the tentative contract ahead of employee meetings to detail the agreement and voting this weekend. Another Mack Trucks worker descried the deal as "disgraceful" and an "insult" compared to their expectations and what's currently being negotiated by UAW international leaders with the Detroit automakers, also known as the Big Three. "They are just pushing this [tentative agreement] through so they don't have to deal with us while the Big Three are negotiating." United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.

Persons: Rebecca Cook, Mack Trucks, Shawn Fain, Mack, They've, it's, Fain, what's Organizations: United Auto Workers, General Motors Lansing Delta Plant, Reuters DETROIT — United Auto Workers, Volvo Group, Detroit automakers, UAW, General Motors, Ford Motor, Lehigh Valley Operations, CNBC, Detroit Locations: Delta Township , Michigan, Pennsylvania

A video address by Fain is scheduled for 2 p.m. EDT (1800 GMT) and will cover substantive bargaining updates, people familiar with the UAW's plans said. In the UAW version, the winner offers richer contract terms, and gets a week without a new strike. Fain's Friday video addresses have become must-see events since he launched coordinated strikes at GM, Ford and Stellantis plants shortly after midnight on Sept. 15. So far, the union has ordered walkouts at five assembly plants and 38 parts depots operated by GM and Stellantis. Last Friday, Fain called off a strike planned at one of Stellantis' assembly plants after the automaker delivered new proposals minutes before the scheduled start of his talk.

Persons: Shawn Fain, Fain, Tesla, Elon, Ford, walkouts, Joe White, Matthew Lewis Organizations: DETROIT, United Auto Workers, Detroit Three, Detroit, Detroit automakers, Facebook, UAW, General Motors, Ford Motor, Chrysler, GM, Ford, Reuters Graphics Reuters, Thomson Locations: Detroit

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

☆ GM's stock hits three-year low amid UAW strike, potential air bag recall
▼ + stars: | 2023-10-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Since the UAW union's targeted strikes began Sept. 15, shares of the Detroit automaker have fallen by about 10%. The stock closed Thursday at $30.31 a share, down by 2.4%. The potential recall of roughly 52 million air-bag inflators from Tennessee-based auto supplier ARC Automotive had been reported about previously, but the number of affected GM vehicles had not. The National Highway Traffic Safety Administration held a public meeting Thursday on its determination that the air-bag parts are defective and should be recalled, according to the report. Automakers, including GM, have until later this year to file responses on the matter.

Organizations: DETROIT, Motors, United Auto Workers, UAW, Detroit, Street, ARC Automotive, Traffic Safety Administration, GM Locations: Tennessee

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsDETROIT, Oct 5 (Reuters) - General Motors (GM.N) said on Thursday it had made a counteroffer to the United Auto Workers (UAW) in a bid to end a strike by the union against the U.S. automaker. Separately, UAW President Shawn Fain plans an update on the status of the talks with the Detroit Three automakers at 2 p.m. EDT (1800 GMT) on Friday in the three-week-old strike. The first-ever targeted strike against the Detroit Three automakers, including Ford (F.N) and Stellantis (STLAM.MI), began on Sept. 15. The UAW said on Monday it presented a new contract offer to GM. In addition to Ford, talks with Chrysler parent Stellantis and have been active in recent days, sources said.

Persons: Rebecca Cook, Shawn Fain, Fain, Ford, Stellantis, Mack Trucks, David Shepardson, Ben Klayman, Joseph White, Chizu Nomiyama, Matthew Lewis Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, U.S . automaker, Detroit Three, Ford, GM, Reuters, Chrysler, Detroit automakers, Wednesday, Volvo Group, Thomson Locations: Detroit , Michigan, U.S, Detroit

UAW President Shawn Fain plans to update the union's 150,000 members at Ford, General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI) on Friday, a person briefed on the union's plans said. In addition to Ford, talks with Chrysler parent Stellantis (STLAM.MI) and other automakers and the UAW have been active in recent days, sources said. Ford Chief Financial Officer John Lawler said Friday the automaker's retirement offer would assure UAW workers could retire with $1 million in savings. The targeted strike against the Detroit Three automakers began on Sept. 15 and is now in its 20th day. Rival Ford Motor (F.N) secured a $4 billion line of credit in August, ahead of the Sept. 14 UAW contract expiration.

Persons: Rebecca Cook, Shawn Fain, Fain, Ford, Stellantis, John Lawler, Paul Jacobson, JP Morgan, Joe White, David Shepardson, Mark Porter, Nick Zieminski, Matthew Lewis, Anna Driver Organizations: General Motors, REUTERS, Rights, United Auto Workers, Ford, Detroit Three, Wednesday, UAW, Chrysler, Detroit automakers, GM, CNBC, Citibank, Chevrolet, GMC, GMC Yukon, Cadillac, Motor Equipment Manufacturers Association, Thomson Locations: Detroit , Michigan, U.S, Wentzville , Missouri, Kansas, Ohio, Indiana, Detroit

☆ Ford pickup truck sales lead third-quarter growth
▼ + stars: | 2023-10-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor's third-quarter U.S. new vehicle sales increased 7.7% compared with a year earlier, led by higher sales of traditional pickup trucks across its lineup. The Detroit automaker on Wednesday reported a 15.3% increase in truck sales compared with a 5.1% decline in cars and sales of SUVs that were essentially flat. The automaker's sales of electric vehicles were up by 14.8% during the quarter to nearly 21,000 units. Ford hybrid sales, led by the F-150 and Maverick hybrid trucks, posted third-quarter sales of 34,861 vehicles – up 41.4% over a year earlier. An ongoing strike by the United Auto Workers union against the Detroit automakers, including Ford, was not expected to directly impact sales much during the quarter.

Persons: Ford, Edmunds Organizations: DETROIT, Detroit, United Auto Workers, Ford, Ford Bronco, UAW, GM, Ford Motor

☆ GM furloughs another 163 workers due to UAW strike
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

Oct 3 (Reuters) - General Motors (GM.N) said on Tuesday it was laying off another 163 workers in Ohio because of the ongoing United Auto Workers strike at two assembly plants and 18 parts distribution centers. The Detroit automaker said it had furloughed another 163 UAW workers at GM’s Toledo Propulsion Systems plant that makes transmissions for both the Missouri and Lansing Delta Township assembly plants that are on strike. GM said in total it has been forced to layoff 2,100 workers at five plants in four states including halting production at its Kansas car plant because of the strike. Reporting by David Shepardson Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: David Shepardson, Chris Reese Organizations: General Motors, United Auto Workers, Detroit, UAW, Propulsion Systems, Missouri and, GM, Thomson Locations: Ohio, Missouri and Lansing Delta, Kansas

☆ GM third-quarter US sales surge 21% on resilient demand for SUVs, pickups
▼ + stars: | 2023-10-03 | 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 RightsOct 3 (Reuters) - General Motors Co's (GM.N) third-quarter U.S. auto sales jumped about 21%, the company said on Tuesday, fueled by improved supply and sustained demand for its SUVs and pickup trucks. The Detroit automaker's quarterly sales rose to 674,336 vehicles, from 555,580 vehicles a year earlier. Rival Toyota Motor Corp (7203.T) reported a 12.2% rise in third-quarter U.S. auto sales. While it did not address the impact of the latest strike, a 40-day UAW strike in 2019 led to a 6% fall in sales in the fourth quarter of that year and cost the automaker $3.6 billion.

Persons: Rebecca Cook, General Motors, Nathan Gomes, Sriraj Organizations: General Motors, REUTERS, General, Detroit, U.S, Rival Toyota Motor Corp, Kia, Hyundai, United Auto Workers, UAW, Detroit Three, GM, Thomson Locations: Detroit , Michigan, U.S, KS, Bengaluru

☆ GM's third-quarter sales jump 21% as UAW strike slowly expands
▼ + stars: | 2023-10-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – An ongoing strike by the United Auto Workers union against the Detroit automakers had little to no direct effect on General Motors' third-quarter U.S. new vehicle sales. Sales of every one of the Detroit automaker's brands rose compared to a year earlier. Only 25,200 workers, or roughly 17% of UAW members covered by the expired contracts with GM, Ford Motor and Stellantis, are part of the work stoppages. UAW has been gradually increasing the strikes since the work stoppages began, after the sides failed to reach tentative agreements by Sept 14. The targeted walkouts aim to preserve the union's funds and prolong the work stoppages to keep the automakers off keel.

Persons: Jonathan Smoke Organizations: United Auto Workers, UAW, General Motors Co, Flint Processing, Detroit automakers, General Motors, Detroit, GM, Ford Motor, Chevrolet Colorado, GMC, Cox Automotive Locations: Swartz Creek , Michigan, DETROIT

☆ 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

☆ 3 things that will impact stocks going into the first trading week of the fourth quarter
▼ + stars: | 2023-09-30 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Wall Street closed out the final week of the third quarter lower as Friday's initial rally on tame inflation data ended largely in losses. The Dow , S & P 500 and the Nasdaq all fell sharply for the historically tough month of September and for the quarter. We hope it convinces the Fed to hold off on any additional hikes as we await the impact of prior rate moves. 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: Dow, We'd, Helen of Troy, HELE, Lamb Weston, Levi Strauss, LEVI, Payrolls, Jim Cramer's, Jim Cramer, Jim, Nick M Organizations: Nasdaq, Dow, Federal Reserve, Fed, Constellation Brands, Management, UAW, Big, Detroit automakers, General Motors, Ford, Chrysler, PMI, McCormick, Maine, Conagra Brands, CNBC Locations: U.S, Cal

☆ Explainer: UAW expands strike against GM, Ford in Week 3, spares Stellantis
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +4 min

Sept 29 (Reuters) - The United Auto Workers (UAW) union on Friday expanded its coordinated U.S. strike, this time targeting a plant at General Motors (GM.N) and Ford Motor (F.N) but refraining from an additional walkout from Chrysler parent Stellantis (STLAM.MI). 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. Talks between Ford and UAW negotiators stalled during the week after the two appeared to be close to an agreement, sources familiar with the development said. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike.

Persons: Shawn Fain, Fain, Stellantis, GM's, Morgan Stanley, Adam Jonas, Tesla, Nathan Gomes, Abhijith G, Joseph White, Ben Klayman, David Shepardson, Sriraj Organizations: United Auto Workers, UAW, General Motors, Ford, Chrysler, Detroit Three, WHO, Detroit, Reuters, Ford Bronco, Chevrolet, Deutsche Bank, EV, Thomson Locations: U.S, Michigan , Ohio, Missouri, Chevrolet Colorado

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