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New York CNN —The United Auto Workers union’s already unprecedented strike against General Motors, Ford and Stellantis could soon get even bigger. So far, the strike, which started early Friday, has targeted only one final assembly plant at each automaker. So, noon on Friday, September 22nd is a new deadline.”While 12,700 union members are on strike, most of the 145,000 members at the three automakers remain on the job. The UAW chose to target final assembly plants first, which has made the initial strikes quite targeted and tactical. Spreading impact of strikeThe impact of the strike will have a ripple impact on other factories beyond the three targeted already by the UAW strike.

Persons: Stellantis, Shawn Fain, Autoworkers, We’re, “ We’re, ”, “, Ford, Lana Payne, Payne, Fairfax, David Barnas, Louis, Biden, Donald Trump, Mike Pence, Fain, Trump Trump, Joe Biden, ” Trump Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, CNN, GM, UAW, Ford Bronco, Companies, GM Stellantis, Jeep, Dodge, Chrysler, Fairfax Assembly, US Steel, Trump Locations: New York, Wayne , Michigan, Canada, United States, Fairfax, Kansas City , Kansas, Wentzville, Granite City , Illinois, St, Detroit

Former U.S. President and Republican presidential candidate Donald Trump speaks on the stage at a South Dakota Republican party rally in Rapid City, South Dakota, U.S. September 8, 2023. The prime time speech is expected to be delivered to auto workers and other blue collar union members, the aide added. The United Auto Workers union began a strike last week against the three biggest U.S. auto manufacturers over pay and other benefits, a labor dispute that could pose significant political danger for Biden. Trump is seeking to exploit the dispute, and will try to persuade auto workers and other union members that he will be on their side if he becomes president again. Trump skipped the first Republican presidential debate in Wisconsin last month.

Persons: Donald Trump, Jonathan Ernst, Trump, Joe Biden's, autoworkers, Biden, Ronald Reagan, David Shepardson, Tim Reid, Chris Reese, Jamie Freed Organizations: U.S, Republican, South, South Dakota Republican, REUTERS, Former U.S, Trump . The United Auto Workers, UAW, Foundation & Institute, Thomson Locations: South Dakota, Rapid City , South Dakota, U.S, Former, Detroit, Michigan, Pennsylvania, Wisconsin, Simi Valley , California, Los Angeles

Student loan repayments restart in October after a three-year suspension during the COVID-19 pandemic. In isolation, none would likely shift policymakers' sense of the short-term risks or change their focus on quelling still-elevated inflation. By Goldman's estimate the economy would still be growing at a 1.3% annual rate at that point. But the amounts they see sliced from GDP are more than the 1% growth rate Fed officials expected the economy to muster as of June, and beyond many private forecasts as well. Some economists say the resumption of student loan repayments for tens of millions of borrowers may already be reshaping behavior.

Persons: Goldman Sachs, Vincent Reinhart, Reinhart, Michael Pearce, Ian Shepherdson, Kieran Clancy, They've, Howard Schneider, Dan Burns, Andrea Ricci Organizations: . Federal Reserve, United Auto Workers, Federal, Republicans, Reuters Graphics Reuters, Mellon, Reuters, Oxford Economics, Congressional, U.S . Department, Education, Thomson

☆ What are Republican U.S. presidential candidates saying about the UAW strike?
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +5 min

Hakeem Jeffries, Democratic Minority Leader of the U.S. House of Representatives, walks the picket line with striking United Auto Workers members outside the Ford Motor Michigan Assembly Plant in Wayne, Michigan U.S., September 17, 2023. REMEMBER, BIDEN IS A CROOK WHO HAS BEEN PAID MILLIONS OF DOLLARS BY CHINA, & OTHERS. On Friday, he wrote: "The all Electric Car is a disaster for both the United Auto Workers and the American Consumer. If this happens, the United Auto workers will be wiped out, along with all other auto workers in the United States. So I understand the frustration, but I think union bosses may be directing that ire in the wrong direction when it belongs at the feet of our current government."

Persons: Hakeem Jeffries, Rebecca Cook, Joe Biden, DONALD TRUMP, CROOKED JOE, YOU'LL, BIDEN, I'm, Biden, Pence, VIVEK RAMASWAMY, NIKKI HALEY, emboldens, Haley, Richard Chang Organizations: Democratic, U.S . House, United Auto Workers, Ford Motor Michigan, Plant, Wayne , Michigan U.S, REUTERS, Labor, Detroit Three, General Motors, Ford, Republican, Democratic U.S, Electric, CHINA FIRST, TRUMP, YOUR, WHO, American Consumer, United Auto, Trump, CNN, South, United Nations, Fox News, TIM SCOTT The, UAW, Thomson Locations: Wayne , Michigan, China, CHINA, United States, Washington, South Carolina, TIM SCOTT The U.S

Former President Donald J. Trump is planning to travel to Detroit on the day of the next Republican primary debate, according to two Trump advisers with knowledge of the plans, injecting himself into the labor dispute between striking autoworkers and the nation’s leading auto manufacturers. The trip, which will include a prime-time speech before current and former union members, is the second consecutive primary debate that Mr. Trump is skipping to instead hold his own counterprogramming. He sat for an interview with the former Fox News host Tucker Carlson that posted online during the first G.O.P. presidential debate in August. Mr. Trump has not directly addressed the wage demands of striking workers and has attacked the union leadership, but he has tried to more broadly cast himself on the side of autoworkers.

Persons: Donald J, Trump, Tucker Carlson, Biden, Ronald Reagan Organizations: Trump, Fox News, United Auto Workers, —, Ronald Reagan Presidential Library Locations: Detroit, Michigan, California, autoworkers

The White House is confronted by an autoworkers’ strike that Biden himself had predicted two weeks ago wouldn’t happen. White House tries to compartmentalizeAll presidents find themselves weathering tough stretches. Biden’s White House has sought to compartmentalize its response to McCarthy’s impeachment inquiry, walling it off from the ongoing work of the administration. On one side: President Biden, who is focused on delivering for the American people. “Being the son or daughter or granddaughter of a senator, a vice president, a president … everybody thinks it’s a great thing.

Persons: Joe Biden, Biden, –, Julie Su, Gene Sperling –, ”, Su, Sperling, Debbie Dingell, Gene Sperling, they’ve, We’ve, Shawn Fain, Kevin McCarthy, Hunter Biden, headwinds, he’s, David Weiss, Weiss, Volodymyr Zelensky, Jake Sullivan, “, Sullivan, “ That’s, ” Biden, I’ve, Donald Trump, Biden’s, walling, …, it’s Organizations: CNN, Labor, White House, Detroit “, United Auto Workers, Big Three, – Ford, General Motors, Democratic, CBS, United Nations General Assembly, UN, Republicans, Metropolitan Museum of Art, Broadway, Republican, New, White Locations: New York City, Detroit, Michigan, New York, California, Washington , DC, Washington, Northern Virginia

☆ Striking Autoworkers Are Cool to Biden’s Embrace
▼ + stars: | 2023-09-18 | by ( Trip Gabriel | More About Trip Gabriel | ) www.nytimes.com time to read: +1 min

In 2020, Mr. Trump won about four in 10 voters in union households, according to exit polls and an internal survey by the A.F.L.-C.I.O. “The demographics of union members are the ones who’ve been trending away from Democrats for quite some time,” he said. Mr. Trump emphasized “a set of issues that union members never agreed with Democrats on,” most prominently immigration, Mr. Podhorzer added. But Mr. Thompson, who joined Ford two years ago and has worked up to $20 an hour, did not blame the president. “I would say he’s doing the best under the circumstances that he can,’’ Mr. Thompson said.

Persons: Trump, Michael Podhorzer, ”, Podhorzer, don’t, ’, Biden, Anthony Thompson, Uleana, Thompson, “, Mr Organizations: Mr, Ford

Former President Donald Trump will travel to the battleground state of Michigan next week to meet with striking autoworkers instead of participating in the second Republican presidential debate, a person familiar with his plans said Monday. That’s the date others in the GOP field will gather at the Ronald Reagan Presidential Library in Simi Valley, California, for the cycle’s second primary debate. On Monday, the United Auto Workers and Detroit’s Big Three carmakers resumed talks aimed at ending a strike now in its fourth day. Stellantis described the discussion as “constructive.” A spokesperson for General Motors said representatives of the company and the United Auto Workers were continuing to negotiate. Trump earlier this summer traveled to Michigan, where the Oakland County GOP honored him as its Man of the Decade.

Persons: Donald Trump, Trump, Joe Biden, Biden, Ronald Reagan, Tucker Carlson, Ammar Moussa, “ Donald Trump, ” Moussa, Barack Obama, carmakers, Stellantis, ”, General Motors, Dave Green, “, ” Green, Jill Colvin, Joey Cappelletti Organizations: GOP, The New York Times, Associated Press, Ronald Reagan Presidential, Twitter, Trump, Biden, United Auto Workers, General, UAW, Oakland, NBC News Locations: Michigan, Simi Valley , California, Milwaukee, Rust, East Palestine , Ohio, Ohio, Indiana, China

☆ Trump plans to give speech to autoworkers in Detroit, skipping second GOP debate
▼ + stars: | 2023-09-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former US President and 2024 Presidential hopeful Donald Trump speaks at the CWA (Concerned Women for America) Summit 2023 in Washington, DC, on September 15, 2023. Former President Donald Trump is planning to visit Detroit next week to speak with current and former union members instead of attending the Republican primary debate, his campaign told CNBC on Monday. A campaign spokesman confirmed reporting in The New York Times that Trump, the clear front-runner in the race for the 2024 Republican presidential nomination, intends to counterprogram the second primary debate as his rivals compete to catch up to him. Fain has previously said that a second Trump term in the White House would be a "disaster." He skipped the first primary debate last month, opting instead to sit for a pre-taped interview with former Fox News host Tucker Carlson that aired as the debate kicked off.

Persons: Donald Trump, Trump, Detroit carmakers, Shawn Fain, Fain, Trump's, Tucker Carlson, shrugging, Joe Biden Organizations: CWA, America, Detroit, CNBC, The New York Times, United Auto Workers, UAW, Trump, Reagan, Fox News, GOP Locations: Washington ,, California

☆ A core frustration unites striking workers: Exorbitant CEO pay
▼ + stars: | 2023-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Exorbitant CEO pay is a frustration shared by Hollywood creatives and Detroit autoworkers alike. Since 1978, the CEO compensation among America’s 300 biggest companies has gone up 1,460%, while the typical worker’s pay grew by just 18% (both adjusted for inflation), according to the Economic Policy Institute, a progressive think tank. Over the same period, CEO pay at the Big Three Detroit automakers — GM, Ford and Chrysler parent Stellantis — has jumped an average of 40%, or roughly how much of a raise striking workers are now demanding. But a company’s profit depends not only on bringing in hearty revenue, but also on keeping costs — including workers’ pay — low. CEO pay went up 40%… No one had any complaints about that, but God forbid the workers ask for their fair share,” he told CNN’s Jake Tapper last week.

Persons: New York CNN —, Hollywood creatives, Barack Obama, Adam S, Hersh, —, Mary Barra, Barra, Carlos Tavares, Jim Farley, Michael M, Shawn Fain, ”, CNN’s Jake Tapper, ’, ” Hersh, “, CNN’s Chris Isidore Organizations: New, New York CNN, Workers, Hollywood, Detroit, Economic Policy Institute, Chrysler, GM, Big Three Detroit, — GM, Ford, CNN, Guild of America, Los Angeles Times, UAW, “, EV Locations: New York, America, Barra, American, Kentucky, Tennessee

☆ UAW president downplays White House involvement in strike talks
▼ + stars: | 2023-09-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

"This battle is not about the president," Fain said. Treasury Secretary Janet Yellen told CNBC in an interview Monday that the White House wants a "win-win" deal. Nearly 13,000 UAW members are on strike at three key plants in Michigan, Missouri and Ohio. Former President Donald Trump is also courting support from UAW members, while attacking the union's leaders, as he pursues another term in the White House. The UAW president said the union's members are prepared to escalate: "If the companies don't respond to the members' demands then we have to do what we have to do."

Persons: Shawn Fain, Bill Pugliano, Monday, Fain, Joe Biden, Julie Su, Gene Sperling, Janet Yellen, White, Yellen, Biden, who's, Donald Trump, Jim Farley Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, Labor, White House, CNBC, MSNBC Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Detroit, Michigan , Missouri, Ohio

☆ Autoworkers strike against Detroit Three enters third day
▼ + stars: | 2023-09-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

United Auto Workers members hold up strike signs across from the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 15, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 17 (Reuters) - The United Auto Workers strike against the Detroit Three automakers is set to enter its third day Sunday with no immediate resolution on the horizon. About 12,700 UAW workers remain on strike as part of a coordinated labor action targeting three U.S. assembly plants - one at each of the Detroit Three automakers after the prior four-year labor agreements expired at 11:59 p.m. Stellantis said main bargaining talks are to resume Monday, while some subcommittee negotiations are set for Sunday at General Motors. "The truth is UAW leadership ignored Belvidere in favor of a strike," the company said.

Persons: Rebecca Cook, Stellantis, Shawn Fain, Mark Stewart, Ford, David Shepardson, Kim Coghill Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, Detroit Three, Ford, Chrysler, . Union, General Motors, UAW, Sunday, GM, North American, Ford Bronco, Chevrolet, Thomson Locations: Wayne , Michigan, U.S, Belvidere , Illinois, Belvidere, Illinois, Michigan , Ohio, Missouri, Chevrolet Colorado, Michigan, Kansas, GM Missouri

☆ Ford also faces strike at Canadian plants Monday night
▼ + stars: | 2023-09-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Unifor, the union that represents autoworkers in Canada, is preparing to go on strike against Ford on Monday night. The 3,400 Unifor members at the plant produce the Ford Edge and the Lincoln Nautilus SUVs. The two plants have a total of 1,700 Unifor members. It has not had a US strike since 1978, nor a Canadian strike since 1990. But Payne said her members at Ford are prepared to strike Monday night if the company doesn’t step up to its demands.

Persons: Ford, Lana Payne, “ We’re, ” Payne, –, Jeff Schuster, ”, Payne, she’s, Unifor, ” Ford Organizations: New, New York CNN, United Auto Workers, Ford, CNN, UAW, Ford Edge, Lincoln Nautilus, Nautilus, – Ford, General Motors, North American, Jeep, Dodge, Chrysler, GlobalData, GM, Canadian, US Locations: New York, Canada, Toronto, Oakville , Ontario, Windsor , Ontario, Detroit, Windsor, Warren , Michigan, United States, Mexico, America

☆ Workers' strikes in the US are at their highest point since 2000, with 4.1 million days lost in August to labor activism
▼ + stars: | 2023-09-17 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

UAW strikes are just the latest in a wider trend of increased labor action across the US. Over 4.1 million working days were lost to strikes in August, the highest in almost 25 years. Public approval of labor unions is also up, reaching its highest point since 1965 in recent years. This August 4.1 million workdays were lost to strikes and lockouts, according to analysis of Labor Department data by The Wall Street Journal. In August, 67% of Americans said they approved of labor unions in a Gallup poll, up from 54% in 2013.

Persons: Ashley Landis Organizations: UAW, Service, Labor Department, Wall Street, Hollywood, NBC, United Auto Workers, Detroit, General Motors, Ford, Unions Locations: Wall, Silicon, Hollywood

☆ The United Auto Workers strike could be the canary in the coal mine for Biden's reelection pitch to working-class voters
▼ + stars: | 2023-09-17 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

The UAW union late last week went on strike to pressure the "Big Three" to raise worker wages. The strength of President Biden's economic message could hinge on the outcome of the strike. Biden has sought to sharpen his 2024 economic pitch, but voters aren't fully sold on his message. AdvertisementAdvertisementBiden is now sitting in the Oval Office, and the United Auto Workers strike is giving him the most challenging labor crisis of his presidency, as the economic pitch for his reelection bid could sink or swim depending on the outcome. And over the last — the past decade, auto companies have seen record profits, including the last few years, because of the extraordinary skill and sacrifices of the UAW workers," he said at the White House.

Persons: Biden's, Biden, Joe Biden, —, Julie Su, Gene Sperling, Susan Walsh, Adam Wren, Denny Butler, Donald Trump, Butler Organizations: UAW, aren't, Service, Teamsters, Wall Street, United Auto Workers, — Ford, General Motors, Detroit automakers, Ford, AP, White, Democratic Party Locations: Wall, Silicon, Pittsburgh, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio, Michigan, Kokomo, Ind

☆ Opinion: Musk, McCarthy and Romney are three kinds of leaders
▼ + stars: | 2023-09-17 | by ( Richard Galant | ) edition.cnn.com time to read: +21 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. A vain and ambitious cigar-smoking bully who wore riding breeches, a polished helmet and boots and carried ivory-handled revolvers, he led troops on successful lightning strikes through German-held territory near the end of World War II. Musk has repeatedly been criticized for enabling and boosting antisemitic content on the platform.”“Isaacson tries to square these two Musks. During Trump’s first impeachment, Romney became the first senator in US history to vote to remove a president of his own party from office. He has been willing to do what he believes to be right — consequences be damned.”The differences between Romney and Trump were many.

Persons: CNN — “ Troy, Hadrian, …, ”, George S, Patton, “, Stephen D, Clay Jones, Elon Musks, Elon, Nicole Hemmer’s, Walter Isaacson, Musk “, Musk, ” “ Isaacson, Isaacson, ” Hemmer, Walt Handelsman, Kevin McCarthy, Donald Trump, McCarthy, Joe Biden, “ Trump, impeaching Biden, Norman Eisen, Trump, ” Eisen, Biden, James Antle III, ’, Hunter, McCarthy “, John Avlon, Dennis Aftergut, Lindsey Graham wasn’t, Michelle Lujan Grisham, she’s, Hunter Biden, Robert J, Spitzer, It’s, ” Vladimir, Kim, Vladimir Putin, Kim Jong, Frida Ghitis, Putin, vaingloriously, Peter the Great, Sébastien Roblin, Don’t, Romney Francis Chung, AP Sen, Mitt Romney, Romney, Sen, John McCain, Trump’s, Lanhee J, Chen, Lisa Benson, Kate Bahn, ’ I’m, —, Dana Peterson, Erik Lundh, ” Dana Summers, Kunis Mila Kunis, Ashton Kutcher, Mila Kunis, Danny Masterson, Jill Filipovic, “ Kutcher, Kunis, Kutcher, Masterson, Danilo Cavalcante, Arick, Scott Stantis, Jeff Yang, Jets Phil Hands, Julian Zelizer, Aaron Rodgers ’, ” Don’t, Nick Anderson, Tess Taylor, Tommy Tuberville, Mahnaz, Roxanne Jones, Coco Gauff, Amanda Tyler, Lara Setrakian, Paul Hockenos, Don Lincoln, Sophia Nelson, Tim Scott, Kenneth Branagh, Agatha Christie’s, Hercule Poirot, Noah Berlatsky, Poirot, Branagh, Sara Stewart, Winona Ryder Organizations: CNN, US, Marine Corps, Third Army, Vostochny, Twitter, Defamation League, Agency, Caucus, Republicans, Democrats, White, North, Putin, AP, Senate, Hollywood, Motors, Ford, Chrysler, Dodge, Peugeot, United Auto Workers, UAW, “, Federal Reserve, Conference Board, Ninth, Academy Museum of Motion Pictures, REUTERS, Reuters, Apple, European Union, Jets, Boston Red Sox, The Chicago Cubs, The New York Jets, New York Jets, MetLife, Tribune, Studios Locations: China, Washington, New Mexico, Detroit, Russia’s, South Africa, Hunter Biden’s, Albuquerque, Bernalillo County, Russia, Ukraine, ”, Los Angeles , California, U.S, Aude, Pennsylvania, Brazil, Cupertino , California, Iran, New Texas, Venice

In its annual renumeration report, Stellantis reported CEO Carlos Tavares' 2022 pay was 23.46 million euros. That's a nearly 77% increase over then Fiat Chrysler CEO Mike Manley's 2019 pay of 13.28 million euros. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic. It's far above the typical pay gap at S&P 500 companies, which was 186-1 according to AP's annual CEO pay survey, which uses data analyzed by Equilar. CEO Elon Musk's 2022 compensation was reported as zero in the company's proxy statement, rendering its official pay ratio meaningless.

Persons: — It’s, Shawn Fain, Fain, ” Fain, ”, Mary Barra, James Farley, William Clay Ford, Stellantis, Carlos Tavares, Mike Manley's, “, Equilar, Tavares, That's, Manley, —, Tavares ’, Harry Katz, Tesla, Elon, Tom Krishner Organizations: United Auto Workers, UAW, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Ford, Chrysler, Associated Press, Big, General, Barra, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, GM, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Stellantis, American, European, Detroit

☆ How an auto workers strike 87 years ago transformed America
▼ + stars: | 2023-09-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

The workers, members of the tiny United Automobile Workers union founded just a year prior, sought to improve brutal working conditions at mighty General Motors, the world’s largest manufacturer. The UAW’s sit-down strike across GM plants lasted 44 days. The 44-day strike birthed the United Auto Workers union. The UAW is calling its new strategy a “stand up strike,” a reference to the sit-down strike that started 87 years ago, and has launched targeted strikes at selected plants. The sit-down strike also prompted unionization and a wave of strikes in other industries.

Persons: Sheldon Dick, —, Shawn Fain, “ Shawn Fain, ”, Thomas Sugrue, GM foremen, Steven Greenhouse, Tom Watson, Frank Murphy, “, Joseph McCartin, Emily Elconin, Fain, McCartin Organizations: New, New York CNN, General Motors, Fisher, United Automobile Workers, GM, United Auto Workers, UAW, Detroit’s, Motors, Ford, New York University, American Labor, ” Strikers, Chevrolet, NY, Getty Images Police, Management, Flint police, Michigan Gov, National Guard, New York Times, Magazine, Chrysler, “ Auto, Georgetown University, Bloomberg, Getty, Unions, Current UAW Locations: New York, Flint , Michigan, America, Europe, Flint, Bettmann, Ford, Wayne , Michigan

☆ Biden’s Staff May Be Giving Ammunition to Trumpsters - The New York Times
▼ + stars: | 2023-09-16 | by ( Maureen Dowd | ) www.nytimes.com time to read: +2 min

Since he became president, Biden has sharply curbed how much he talks to the press, rarely giving interviews. He limits his press conferences mostly to duets with foreign leaders, where he can put his foreign policy relationships and experience on display. There’s something poignant about watching a guy who used to delight in his Irish gift of gab be muzzled. He knows his staff thinks he has a problem of popping off, and I think that has made him more timid and more cloistered. And when he’s more isolated, he seems sadder maybe because he’s not drawing energy from crowds and journalists the way he used to; perhaps his overprotective staff has gotten into his head.

Persons: Biden, preselect questioners, nix, “, ”, he’s Organizations: White Locations: Covid

☆ Student loans, strikes, and a government shutdown will all drag on the economy for the rest of 2023, Goldman Sachs warns
▼ + stars: | 2023-09-16 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The US economy is looking resilient right now, with much of Wall Street dropping their recession calls. But growth will "slow meaningfully" over the fourth quarter, according to Goldman Sachs. Student loan repayments, the autoworkers' strike, and a potential government shutdown will all drag on GDP, the bank warned. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That resumption could weigh on spending and chop around half a percentage point of the US's GDP growth, according to Hatzius' team.

Persons: Goldman Sachs, Goldman's, Jan Hatzius, Hatzius, there's Organizations: Service, Republicans, Detroit, Bank of America, Federal, Fed Locations: Wall, Silicon, Washington

☆ Sen. Bernie Sanders calls out automaker CEOs at UAW strike rally: ‘It is time for you to end your greed’
▼ + stars: | 2023-09-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Sen. Bernie Sanders (I-VT) and UAW President Shawn Fain (left) speak at a rally in support of United Auto Workers members as they strike the Big Three automakers on September 15, 2023 in Detroit, Michigan. Sen. Bernie Sanders addressed striking autoworkers in Detroit on Friday, calling on working people across the U.S. to stand in solidarity with the walkout. Sanders called out General Motors CEO Mary Barra, Stellantis CEO Carlos Tavares and Ford CEO Jim Farley, all of whom made over $20 million last year, about their pay. "It is time for you to end your greed," Sanders said. "Let us all, every American, in every state in this country stand with the UAW," the senator said.

Persons: Sen, Bernie Sanders, Shawn Fain, Sanders, Mary Barra, Carlos Tavares, Jim Farley, — Ford, Stellantis — Organizations: UAW, United Auto Workers, Big, General, Ford, General Motors Locations: Detroit , Michigan, Detroit, Vermont

☆ White House says Biden is focused on his job in the wake of his son’s indictment
▼ + stars: | 2023-09-15 | by ( Kevin Liptak | ) edition.cnn.com time to read: +5 min

Inside the White House, neither was an unexpected development. Biden had just arrived back to the White House from a five-day swing through Asia when McCarthy formalized his impeachment plans Tuesday. An element of the White House strategy is keeping Biden focused on his governing duties while discrediting House Republican investigators. White House officials have also steadfastly refused to weigh in, describing it was a family matter. The president and first lady have kept him close amid his legal proceedings, and Hunter has appeared at family events and White House functions.

Persons: Joe Biden, Hunter Biden, David Weiss, Kevin McCarthy, Biden, Weiss, McCarthy, Jake Sullivan, “, he’s, Sullivan, ” Sullivan, walling, –, I’ve, ”, Karine Jean, Pierre, “ I’m, Hunter, Jean Organizations: CNN, Justice Department, White, United Nations, UN, Assembly, New, Democratic Locations: Asia, New York, Ukraine, That’s, Northern Virginia

CNN —UAW President Shawn Fain has become the X factor in the striking autoworkers’ pursuit of increased pay and benefits, injecting a level of chaos into negotiations that neither the automakers nor the White House predicted or quite know how to manage. The UAW on Friday struck at just three plants, one at each of the Big Three automakers. Nevertheless, the strike marks the first time in history the UAW has struck at all three automakers simultaneously. Fain told union members Thursday that the union’s strike strategy “will keep the companies guessing” and give union negotiators “maximum leverage” when they return to the bargaining table. Although Fain has at times praised Biden, he has also criticized the president for failing to do enough to help the autoworkers in their cause.

Persons: Shawn Fain, –, Fain, Jim Farley, Mary Barra, Stellantis, Joe Biden, Biden, Fain isn’t, ”, He’s, he’s, Curry, Wheaton, “, ” Wheaton Organizations: CNN, White, UAW, Big Three, Thursday, GM, National Labor Relations Board, Democratic, Chrysler, Cornell University’s School of Industrial and Labor Relations Locations: Kokomo , Indiana, Indiana, Buffalo, Wheaton

☆ Biden says record profits should ensure record contracts as UAW strikes Ford, GM and Stellantis plants
▼ + stars: | 2023-09-15 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

WASHINGTON — President Joe Biden said Friday that workers should be fairly compensated as auto companies make record profits, after the United Auto Workers union began a strike against General Motors, Ford Motor and Stellantis. "But I believe they should go further to ensure record corporate profits mean record contracts for the UAW." "Auto companies have seen record profits including the last few years because of the extraordinary skill and sacrifices of the UAW workers," Biden said. "Those record profits have not been shared fairly, in my view, with the workers." "We agree with Joe Biden when he says 'record profits mean record contracts,'" Fain said.

Persons: Joe Biden, Biden, Julie Su, Gene Sperling, Shawn Fain, Fain Organizations: WASHINGTON, United Auto Workers, General Motors, Ford Motor, White, UAW, White House, Auto, Workers, Ford Locations: Detroit, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ Morning Bid: Autoworkers' walkout to test resilience of US economy
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Brighter data from China meanwhile has helped lift sentiment across global markets, except for China, heading into the weekend. While Japan's Nikkei (.N225) rose 1% and European shares opened higher (.STOXX), China shares reversed earlier gains (.CSI300). European markets continued to cheer the likely end of the European Central Bank's rate hiking cycle. And even if the ECB suggested rates would stay higher for longer, markets are already looking past that to rate cuts as economic growth weakens. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Eric Cox, Nick Macfie Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, General Motors, Ford, Chrysler, United, Workers, Japan's Nikkei, European, ECB, SoftBank's Arm Holdings, Nasdaq, Reuters Graphics Reuters, Uni of Michigan, Thomson, Reuters Locations: Wayne , Michigan, U.S, Australia, China

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