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But if the UAW can reach a tentative agreement with Ford, it would be used as a model to seek similar contract settlements with GM and Stellantis. Typically, during past auto strikes, a UAW deal with one automaker has led the other companies to match it with their own settlements. About 32% of the union’s 146,000 members at the automakers are now on strike and getting by on $500 per week in strike pay. The UAW also wants traditional defined-benefit pension plans restored for workers who were hired after 2007, an end to varying tiers of wages for UAW workers, pension increases for retirees and other benefits. One key issue is whether to extend the national UAW contract to 11 U.S. electric vehicle battery factories.

Persons: Ford, Shawn Fain, ’, Todd Dunn, “ I've, ” Dunn, “, Dunn, he's, ” Masters, Mary Barra, Wayne State's Masters, It's Organizations: DETROIT, United Auto Workers, Ford, Detroit, General Motors, UAW, GM, Kentucky, Plant, Ford's, Bloomberg News, Automotive, Marick, Wayne State University, Workers, Toyota, Moody's Investor Service Locations: Arlington , Texas, Sterling Heights , Michigan, Louisville, Detroit, Korean, Texas

[1/2] United Auto Workers (UAW) union members picket outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. Total economic losses from the auto workers' strike have reached $9.3 billon, the Anderson Economic Group said earlier this week. Getting the deal ratified will be up to Fain and UAW leaders, and that is not assured. UAW workers at the company now called Stellantis rejected a proposal endorsed by UAW leaders in 2015. UAW leaders feared that the automakers would cut jobs at combustion engine factories and shift work to non-union joint venture battery plants or overseas suppliers.

Persons: Luke Sharrett, Shawn Fain, Ford, Sam Fiorani, Stellantis, Joe Biden, Fain, Donald Trump, Mrinmay Dey, Peter Henderson, Abhirup Roy, Shailesh Kuber, Sayantani Ghosh, Cynthia Osterman Organizations: United Auto Workers, UAW, REUTERS, Ford, General Motors, Chrysler, Stellantis, GM, AutoForecast Solutions, CNBC, Anderson Economic Group, Detroit, U.S, Republican, Mack, EV, Detroit Three, Toyota, Tesla, Hyundai, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Arlington , Texas, Kentucky, Sterling Heights , Michigan, Detroit, Michigan, United States, Bengaluru

The UAW said another 5,000 workers are going on strike, bringing the total number of UAW members on strike at the Big Three automakers to over 45,000, on day 40 of the strike. The workers took the strike to Arlington Assembly, home to some of GM's most profitable vehicles, the Chevy Tahoe, Chevy Suburban, GMC Yukon and Cadillac Escalade. The union's strategy of targeted strikes has throttled billions in revenue for the Detroit Three while requiring fewer than half the 150,000 UAW members at the companies to forgo pay and walk picket lines. "It's time GM workers, and the whole working class, get their fair share." But he told UAW members "there is more to be won".

Persons: Rebecca Cook, Stellantis, we've, Shawn Fain, Fain, Harley Shaiken, Mary Barra, David Shepardson, Joe White, Ben Klayman, Sayantani Ghosh, Chizu Nomiyama, Peter Henderson Organizations: General Motors, REUTERS, United Auto Workers, UAW, Big, Arlington Assembly, Chevy Tahoe, Chevy, GMC Yukon, Cadillac, Kentucky, Chrysler, Detroit, EV, Ford, Korean, University of California, GM, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Texas, Cadillac Escalade, F.N, Sterling Heights, Mich, University of California Berkeley, Arlington, Detroit

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The UAW walkouts cost the company $200 million during the third quarter and $600 million so far in the fourth quarter, GM Chief Financial Officer Paul Jacobson said in a briefing with reporters. Strike costs are now running at $200 million a week, Jacobson said. Average selling prices for GM vehicles were $50,750 in the latest quarter, slightly down from the previous quarter. GM also said losses at its Cruise robotaxi unit widened to $732 million in the quarter.

Persons: Rebecca Cook, GM's, Colin Langan, Paul Jacobson, Jacobson, Shawn Fain, Tesla, Mary Barra, We're, Barra, Biden, Ford, Elon, Joe White, Ben Klayman, Jamie Freed, Kirsten Donovan, Chizu Organizations: General Motors, REUTERS, Rights, Tuesday, United Auto Workers, GM, UAW, Chevrolet, Detroit, EV, GMC, U.S, Thomson Locations: Detroit , Michigan, U.S, Arlington , Texas, Flint , Michigan, North America, Orion Township , Michigan

☆ GM earnings give its restive workers an inch
▼ + stars: | 2023-10-24 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

On Tuesday, GM reported strong earnings that will embolden staff who have walked out at all three of the big Detroit firms. GM beat analysts’ expectations for third-quarter profit despite a $200 million hit from the strikes that started in September. That said, the firm run by Mary Barra also ditched its official forecast as it wrestles with the $200 million weekly costs from labor disruptions. Fortunately for GM, talks with its union seem to have narrowed in from earlier demands that would have vaporized the industry’s operating profit. Ongoing strikes by the United Auto Workers union, which represents GM employees, cost the company $200 million in the third quarter.

Persons: walkouts, Mary Barra, Shawn Fain, Tesla, Elon, Fain, John Foley, Sharon Lam Organizations: General Motors Company, Reuters, United Auto Workers, General Motors, Ford Motor, GM, Cox Automotive, UAW, Elon Musk’s, United Auto Workers union, Detroit, Thomson Locations: Queens , New York, U.S, Detroit, Wells, GM’s Arlington

☆ GM earnings rise despite strike
▼ + stars: | 2023-10-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The company’s earnings per share rose to $2.28, up from $2.25, in the past quarter. The company said that the strike cost it $200 million in its first two weeks of the quarter. The UAW has been on strike against GM as well as rivals Ford and Stellantis since September 15. The targeted strike started with work stoppages at one assembly plant for each of the automakers and 12,700 on strike but has grown since then. There are now more than 40,000 autoworkers on strike, with 9,200 members on strike at GM alone.

Persons: Refinitiv, Shawn Fain, “, ”, Paul Jacobson, we’re, Mary Barra, “ It’s, ” Barra Organizations: New, New York CNN —, Motors, United Auto Workers, Revenue, UAW, GM, Ford, CNBC, EV, GM Financial, Chevrolet, GMC Yukon Locations: New York, Stellantis, China, Wentzville , Missouri, Lansing , Michigan, Arlington , Texas, Suburban, Ford, Arlington

☆ The UAW is hitting automakers where it really hurts, taking down highly profitable truck and SUV plants at each Big 3 automaker
▼ + stars: | 2023-10-24 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

As the union targets truck and SUV plants in its sixth week, consumers are likely to feel the impacts. AdvertisementAdvertisementThe United Auto Workers union has turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV factory in Arlington, Texas. "It's time GM workers, and the whole working class, get their fair share," Fain said. Barra said GM's record offer rewards employees but doesn't put the company or UAW jobs at risk. AdvertisementAdvertisementLast week GM made an offer that increased its previous offer by about 25% in total value, the company said.

Persons: —, Shawn Fain, Mary Barra, Fain, GM's, Barra, doesn't, it's, walkouts Organizations: UAW, Service, United Auto Workers, General Motors, GM, Ford, Chevrolet Tahoe, GMC Yukon, Cadillac, Arlington Locations: Texas, Arlington , Texas, Sterling Heights , Michigan, Detroit, The Texas, Arlington

☆ UAW expands strike to crucial GM SUV plant in Texas hours after automaker reports earnings
▼ + stars: | 2023-10-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – The United Auto Workers union on Tuesday expanded its strike against General Motors to a highly profitable full-size SUV plant in Texas — a swift response to healthy profits and record third-quarter revenue for the automaker. The walkout came just hours after the automaker reported third-quarter earnings results that beat Wall Street's expectations. As we've said for months: record profits equal record contracts," said UAW President Shawn Fain in a statement. Fain's claims of record results for the automaker reference record third-quarter revenue, according to the union. The automaker disclosed in its quarterly update that the UAW strike has already cost it $800 million in lost production — prior to the Arlington disruption — including $200 million during the third quarter.

Persons: Escalade, we've, Shawn Fain, Fain's Organizations: DETROIT, United Auto Workers, General Motors, Arlington Assembly, GMC, Yukon XL, Chevrolet Tahoe, GM, UAW Locations: Texas, Arlington, GMC Yukon

☆ U.A.W. Expands Strike to G.M.’s Texas Plant
▼ + stars: | 2023-10-24 | by ( The New York Times | ) www.nytimes.com time to read: +1 min

In another major expansion of its six-week long strikes at the three large U.S. automakers, the United Automobile Workers union on Tuesday told 5,000 workers at General Motors’ largest U.S. plant, in Arlington, Texas, to stop working. The union expanded the strike on the same day that G.M. On Monday, the union also struck at a Ram pickup truck plant, the largest U.S. factory operated by Stellantis. has also struck Ford Motor’s largest plant, in Louisville, Ky.“Another record quarter, another record year. As we’ve said for months: record profits equal record contracts,” the U.A.W.

Persons: Ford, we’ve, Shawn Fain, “, ” G.M Organizations: U.S, United Automobile Workers, General Motors, U.S ., Stellantis Locations: Arlington , Texas, Louisville, Ky, “

CNN —The United Auto Workers union took its most serious shot yet at General Motors in its five-week old strike as 5,000 members walked off the job at a plant in Texas. Arlington Assembly builds GM’s very profitable full-size SUVs, the Chevrolet Tahoe and Suburban, GMC Yukon and Cadillac Escalade. The targeted strike at GM’s largest plant comes just hours after the company reported third quarter earnings, which grew last quarter despite the strike. It’s time GM workers, and the whole working class, get their fair share,” said UAW President Shawn Fain. “GM’s latest offer fails to reward UAW members for the profits they’ve generated,” said the union’s statement.

Persons: we’ve, ”, Shawn Fain, General Motors, Fain, it’s, “ Organizations: CNN, United Auto Workers, General Motors, Arlington Assembly, Chevrolet, GMC Yukon, Cadillac, General, Arlington, GM, UAW, Ford, Chrysler Locations: Texas, Suburban, GM’s, Ford, Arlington

DETROIT (AP) — The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV factory in Arlington, Texas. The additional plants further escalate a labor dispute that's in its sixth week and now has about 46,000 union workers off the job. “It’s time GM workers, and the whole working class, get their fair share,” Fain said. Barra said GM’s record offer rewards employees but doesn’t put the company or UAW jobs at risk. Last week GM made an offer that increased its previous offer by about 25% in total value, the company said.

Persons: Cadillac Escalade, Shawn Fain, “, ” Fain, Mary Barra, Fain, GM’s, Barra, doesn’t, ”, it's, walkouts, haven't, Thomas Kochan, ” Kochan Organizations: DETROIT, United Auto Workers, General Motors, GMC Yukon, Cadillac, GM, Ford, Arlington, General Motors Co, Massachusetts Institute of Technology Locations: Arlington , Texas, Sterling Heights , Michigan, Detroit, Arlington

[1/2] United Auto Workers president Shawn Fain meets with striking UAW members from the General Motors Lansing Delta Plant, as they picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON/DETROIT, Oct 23 - The United Auto Workers (UAW) union went on strike at Chrysler-parent Stellantis's largest assembly plant on Monday, hitting the automaker's profitable RAM 1500 pickup truck production in a major expansion of the more than month-old strike. The union has demanded a 40% wage hike, including a 20% immediate increase, improvements in benefits, as well as covering EV battery plant workers under union agreements. He said the Detroit Three had converged on a 23% wage hike offer and made progress on other issues but told UAW members "there is more to be won". Fain also told UAW members the talks were nearing an end.

Persons: Shawn Fain, Rebecca Cook, Tim Ghriskey, Ingalls & Snyder, Fain, Arthur Wheaton, Stellantis, Wheaton, Bill Ford, Henry Ford, Ford, David Shepardson, Joe White, Ben Klayman, Sriraj Kalluvila, Deepa Babington Organizations: United Auto Workers, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, WASHINGTON, UAW, Chrysler, Detroit, Ford, General Motors, Detroit Three, EV, Sterling, Ford's, Ingalls &, Labor, Korean, Twitter, Cornell University, GM, Anderson Economic, Thomson Locations: Delta Township, Michigan, DETROIT, Ford's Kentucky, U.S, Milan, New York, Washington, Detroit, Bengaluru

The United Auto Workers union has once again escalated its strikes against big Detroit automakers, this time adding a factory that makes Ram pickup trucks for Stellantis. No progress was reported with Ford, which last week said it had the best offer of the three. The union went on strike Sept. 15 at one assembly plant from each company. By taking down the Stellantis factory, the union is signaling Ford and GM to improve their offers, Wedbush analyst Dan Ives said. Each time the automakers make an offer, Fain said, they insist it’s the best they can do, only to return days later with a better offer.

Persons: Shawn Fain, Ford, Stellantis, Dan Ives, Fain, ” Ives, “ We’ve, they’ve, ” Fain, ” ____ Koenig Organizations: United Auto Workers, Detroit automakers, Sterling, General Motors, Ford, UAW, Fiat Chrysler, France's PSA Groupe, GM Locations: Sterling Heights , Michigan, Louisville , Kentucky, Stellantis, Dallas

☆ UAW expands strike to Stellantis pickup truck plant in Michigan
▼ + stars: | 2023-10-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. DETROIT — The United Auto Workers union is expanding its strike to a Stellantis plant in Michigan that produces Ram 1500 full-size pickup trucks, dealing another blow to the three major U.S. automakers as negotiations drag on. The work stoppage includes roughly 6,800 workers at Stellantis' Sterling Heights Assembly Plant in suburban Detroit, the union announced Monday after initiating the walkout. The work stoppage at the Sterling Heights plant brings the total number of UAW members on strike with the Detroit automakers to more than 40,000. It marks the first escalation in the union's strike in nearly two weeks and the first new work stoppage at Stellantis in over a month.

Persons: Shawn Fain, Stellantis, We've, we've, SHAP Organizations: United Auto Workers, Sterling Heights Assembly, DETROIT —, UAW, Detroit Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Michigan, Detroit, Sterling, Stellantis

☆ GM, Ford slip after UAW warns of more walkouts, analysts say deal is close
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Though Fain signaled a deal may be close, some analysts expressed worries about the financial impact of the demands on the automakers. The UAW wants workers at EV battery plants to be covered by union contracts, and defined benefit pensions restored for all workers. The strikes and the negotiations with the UAW have weighed on automakers' shares. Since the contract talks began in mid-July, U.S.-listed shares of Stellantis have marginally risen, while Ford and GM shares were down at about 23% and nearly 27%, respectively.

Persons: Rebecca Cook, Shawn Fain, Fain, Wells, Colin Langan, Nathan Gomes, Pooja Desai Organizations: General Motors, REUTERS, U.S, Ford Motor, United Auto Workers, UAW, EV, General Dynamics, Ford, GM, Thomson Locations: Detroit , Michigan, U.S, Stellantis, Bengaluru

New York CNN —The United Auto Workers union sent 6,800 Stellantis employees to the picket line Monday morning in a surprise, targeted strike at the company’s Ram truck facility. The Sterling Heights Assembly Plant is Stellantis’ “largest plant and biggest moneymaker,” UAW said in a statement Monday. The first was at Ford on October 11, when the UAW went on strike at that automaker’s largest plant, the Kentucky Truck Plant in Louisville. Expanding strikeThere are now more than 40,000 UAW members on strike as it enters its sixth week, with 14,600 on now on strike at Stellantis, joining the 16,600 on strike at Ford and 9,200 on strike at GM. But the union has stopped short of having all 145,000 members at the three companies all be on strike.

Persons: ”, Stellantis, Fain, Anderson Organizations: New, New York CNN, United Auto Workers, Sterling, Sterling Heights Assembly, ” UAW, Dodge, Chrysler, Ford, General Motors, UAW, Kentucky, Plant, Fiat Chrysler, European, PSA Group, “, ” CNN, GM, Big, Anderson Economic Locations: New York, Sterling Heights, Detroit, Sterling Heights , Michigan, United States, Mexico, Warren , Michigan, Sterling, Louisville, Stellantis, Ford, Europe

☆ ESG investing is dying on Wall Street. Here’s why
▼ + stars: | 2023-10-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —The market for environmental, social and corporate governance, or ESG, investing is fundamentally broken. “ESG investing … entering the final quarter of 2023 continues to be a story of declining flows and assets under management,” said Robert Jenkins, head of global research at Lipper. Before the Bell spoke with Jenkins about the future of ESG investing in the US and globally. What trends did you see regarding ESG investing last quarter? Before the pandemic, we had kind of a nice, natural looking growth line to ESG products.

Persons: “, ”, Robert Jenkins, Jenkins, he’ll, it’s, Bell, ESG, I’ve, we’ve, Elliott Gotkine, Jeffrey Sonnenfeld, Satya Nadella, ” Sundar Pichai, Sonnenfeld, , Susan, ” Susan, ” Richard Griffiths, Citigate Dewe Rogerson, Shawn Fain, “ We’ve, Chris Isidore, Vanessa Yurkevich Organizations: CNN Business, Bell, New York CNN, CNN, Lipper, Netflix, Yale School of Management, ”, Microsoft, Google, ” Disney, Reuters, Tottenham Hotspur Football Club, Eclipse, “, London, United Auto Workers, ’ United Auto Workers, GM, UAW Locations: New York, Ukraine, Israel, America, United States, United Kingdom, Gaza

WAYNE, Mich. (AP) — Throughout its 5-week-old strikes against Detroit’s automakers, the United Auto Workers union has cast an emphatically combative stance, reflecting the style of its pugnacious leader, Shawn Fain. Officials at all three companies note that they have sweetened pay offers and offered numerous other concessions. Fain has even sought 32-hour work weeks for 40 hours of pay — a demand that even many union workers call unrealistic. In a departure from the style of past UAW leaders, Fain has insulted CEOs and publicly revealed the companies' pay offers. Parker, whom Fain tapped to be an assistant, says he feels sure Fain has a plan to end the strike.

Persons: WAYNE, Shawn Fain, Fain, they've, “ He’s, ”, Harley Shaiken, he’s, Ford, Dawn Krunzel, Krunzel, haven't, “ I'm, Doc Killian, Bill Ford, Killian, ” Killian, “, Bernie Sanders, Paul Nicodemus, Nicodemus doesn't, “ Shawn, ” Nicodemus, Bill Parker, Parker, ” Parker, Brian Rothenberg, Rothenberg Organizations: Detroit’s automakers, United Auto Workers, UAW, Toyota, University of California, General Motors, GM, Ford's, Ford, Facebook, Indiana, Taylor High School, Chrysler, Delco, “ Locations: Mich, University of California Berkeley, Toledo , Ohio, Ford's Michigan, Wayne, Detroit, Kokomo

☆ 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

☆ 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

Fain confirmed the Detroit Three had converged on a 23% wage hike offer and made progress on other issues. But he told UAW members "there is more to be won". While warning of possible expanded strikes, Fain also told UAW members the talks were closing in on an end. Walkouts began at the three automakers on Sept. 15 and now more than 34,000 union members are waging the UAW's first simultaneous strikes against the Detroit Three. Fain declared "the days of the UAW and Ford being a team to fight other companies are over."

Persons: Rebecca Cook, Shawn Fain, we've, Fain, Walkouts, Bill Ford, Henry Ford, Ford, Tesla, Stellantis, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, Detroit Three, UAW, Chrysler, Detroit, Ford, GM, Toyota, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Ford's, Kentucky, Detroit, Bengaluru

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

☆ UAW Leader Cites Progress at Bargaining Table, Forgoes More Walkouts
▼ + stars: | 2023-10-20 | by ( Ryan Felton | ) www.wsj.com time to read: +1 min

Ford Motor Executive Chairman Bill Ford said the company can’t afford more UAW strikes. “It will have a major impact on the American economy and devastate local communities,” he said. Newsletter Sign-up What’s News Catch up on the headlines, understand the news and make better decisions, free in your inbox daily. Preview SubscribeUAW President Shawn Fain said during a livestream to members Friday that General Motors , Ford Motor and Chrysler-parent Stellantis have each offered 23% wage increases for factory workers over more than four years. That would amount to record contracts for those employees, but the companies still have room to sweeten their offers, he said.

Persons: Bill Ford, ”, Carlos Osorio, Shawn Fain Organizations: Ford Motor, UAW, Associated Press, United Auto Workers, Motors, Chrysler

☆ UAW workers at ZF plant in Alabama ratify labor deal, end strike
▼ + stars: | 2023-10-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

An American flag flies in front of the United Auto Workers union logo on the front of the UAW Solidarity House in Detroit, Michigan, September 8, 2011. The union said the strike by 190 workers was over after a tentative agreement had been ratified. About 34,000 UAW members remain on strike at the Detroit Three automakers - Ford Motor (F.N), General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). The UAW last expanded its strike on Oct. 11 when it walked out at Ford's Kentucky Truck Plant, the company's largest plant worldwide. Ford said late on Wednesday that it was temporarily laying off another 150 workers because of the strike, bringing the total to 2,730 workers furloughed since the start of the strike.

Persons: Shawn Fain, Stellantis, Ford, Fain, David Shepardson, Jonathan Oatis, Jamie Freed Organizations: United Auto Workers, UAW Solidarity House, U.S, Motors, Chrysler, UAW, Mercedes, Workers, ZF, Benz, Tuscaloosa, Detroit Three, Ford, General Motors, GM, Ford's, Thomson Locations: American, Detroit , Michigan, Alabama, Tuscaloosa, Ohio

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