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☆ Canadian autoworkers extend negotiations with Ford, delaying a possible strike
▼ + stars: | 2023-09-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

According to an update posted on the union site: “Unifor is extending negotiations with Ford Motor Company for a 24-hour period. By contrast, Unifor announced if it goes on strike, it will strike all the Ford facilities where it represents members. The union had granted them contract extensions while it focused its negotiations on reaching the best possible deal with Ford. It has not had a strike in its Canadian operations since 1990 and has not had a US strike since 1978. A Canadian strike could be a bigger blow to Ford’s sales than the UAW strike, which is so far is limited to one factory in Michigan in the case of Ford.

Persons: Unifor, ” Ford, Lana Payne, ” Payne, Ford Organizations: CNN, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler, UAW, Ford Bronco, Nautilus Locations: Canada, Wayne , Michigan, Michigan, Windsor

☆ White House no longer sending top officials to Detroit for UAW strike talks this week
▼ + stars: | 2023-09-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The Biden administration is no longer sending two key officials to Detroit this week to potentially help broker a deal between striking autoworkers and the Big Three car companies, a White House official told NBC News. But the White House and the UAW mutually agreed it would be better to speak virtually via Zoom, the official said Tuesday. "We'll continue to assess travel timing based on the active state of negotiations," the White House official said. The union's president, Shawn Fain, told MSNBC on Monday that he does not see a major role for the White House in resolving the dispute. Trump is planning to skip the GOP primary debate next week and instead travel to Detroit to speak with union members.

Persons: Biden, Joe Biden, Gene Sperling, Julie Su, Sperling, Su, We'll, Shawn Fain, Fain, We're, Donald Trump, Trump Organizations: United Auto Workers, Ford Motor Co, Michigan Assembly, White, NBC News, Labor, UAW, White House, Ford, General Motors, MSNBC, GM Locations: Michigan, Wayne , Michigan, Detroit, Michigan , Missouri, Ohio

☆ How UAW strike will benefit online auto advertisers like CarGurus and Cars.com
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow UAW strike will benefit online auto advertisers like CarGurus and Cars.comTom White, senior research analyst at D.A. Davidson, joins 'The Exchange' to discuss how online auto advertisers like cars.com and CarGurus will benefit from the ongoing auto strike, what this strike means for auto dealers and more.

Persons: Tom White, Davidson Organizations: UAW, D.A

☆ Car buying was finally getting better. The auto workers' strike will make it bad for everyone again.
▼ + stars: | 2023-09-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The United Auto Workers union is on strike, targeting a select few Detroit 3 car factories. After years of a pandemic-driven supply-and-demand car crunch that jacked up new and used vehicle prices and shrunk dealership supply, car buyers had just started to see a little respite. The used car market has been trickier to generalize, but even used vehicle listing prices finally dropped slightly in July. "Pricing may well go up just because of scarcity, and if that happens, then the consumer that potentially was buying a new car would move to the used car market," Russell Hensley, partner in McKinsey's global automotive and assembly practice, said. "Prices will likely go up in the used car market."

Persons: Pat Ryan, Kelley, Cadillac, Jeep Wrangler, Ryan, Russell Hensley Organizations: United Auto Workers, Detroit, UAW, Service, Ford, GM, GMC, Buick, Chrysler, Chevrolet, Cox Automotive, Honda, Toyota, Kia, Jeep Locations: Wall, Silicon, Detroit, Wayne , Michigan, Wentzville , Missouri, Toledo , Ohio

☆ UAW will strike at additional U.S. auto plants if 'serious progress' isn't made by noon Friday
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Blue Cross Blue Shield employees show their support to members of the United Auto Workers (UAW) union as they march through the streets of downtown Detroit following a rally on the first day of the UAW strike in Detroit, Michigan, on September 15, 2023. Matthew Hatcher | AFP | Getty ImagesDETROIT – The United Auto Workers union will announce additional strikes at General Motors , Ford Motor and Stellantis plants if the sides don't make "serious progress" in negotiations by noon ET Friday, UAW President Shawn Fain announced Monday night. The announcement follows the union meeting with each of the automakers since the targeted strikes began Friday. The union selected the plants as part of targeted strike plans, as Fain and UAW leaders unconventionally negotiate with all three automakers at once. It's calling the work stoppages "stand-up strikes," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Matthew Hatcher, Shawn Fain, We're, Fain Organizations: United Auto Workers, UAW, AFP, Getty, DETROIT, General Motors, Ford Motor, Detroit Locations: Detroit, Detroit , Michigan, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ Canadian autoworkers union reaches tentative labor deal with Ford, averting strike
▼ + stars: | 2023-09-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

CNN —The union representing Canadian autoworkers at Ford has reached a tentative deal with the US automaker, keeping more than 5,000 union members on the job and providing some good news for an industry dealing with unprecedented labor disruptions. Details of the deal between Ford and Unifor, the Canadian union, were not immediately available. “We leveraged our union’s most powerful weapon: the right to strike,” Unifor said in its statement Tuesday evening. The issues in the Canadian labor negotiations greatly mirrored the issues behind the UAW strike against those three automakers. The companies, which are reporting record or near-record profits, all say they have offered the UAW members raises totaling about 20% during the life of the contracts, including immediate 10% raises.

Persons: Unifor, ” Unifor, “, Ford, It’s, That’s Organizations: CNN, Canadian, Ford, United Auto Workers, Ford Edge, Lincoln Nautilus, UAW, Motors, North American, Jeep, Dodge, Chrysler Locations: Canada, Toronto, Windsor , Ontario, Detroit, Wayne , Michigan

☆ UAW strike and Tesla: How Elon Musk could win
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW strike and Tesla: How Elon Musk could winGeorge Gianarikas, analyst at Canaccord Genuity, joins 'Power Lunch' to discuss the UAW strike and how it could be a tailwind for EVs.

Persons: Elon Musk, George Gianarikas Organizations: UAW Locations: EVs

☆ The 40-hour workweek started with autoworkers—now they're trying to make 32 hours the new norm
▼ + stars: | 2023-09-19 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

United Auto Workers (UAW) members on a picket line outside the Stellantis NV Toledo Assembly Complex in Toldeo, Ohio, US, on Monday, Sept. 18, 2023. Thousands of United Auto Workers members are striking against three major Detroit automakers — Ford, GM and Stellantis — at plants across the U.S. Autoworkers at Ford Motor Company were among the first to adopt a five-day, 40-hour workweek in 1926 at a time when people regularly topped 100 hours per week. By 1938, the Fair Labor Standards Act cut the workweek to 44 hours, then down to 40 hours two years later. "I think it will move the public toward thinking the four-day workweek is the appropriate workweek," Creighton says.

Persons: —, Stellantis, Shawn Fain, That's, Cathy Creighton, they'd, Jonathan Cutler, Creighton Organizations: United Auto Workers, UAW, Stellantis NV, Detroit, — Ford, GM, Labor, Cornell University's Industrial, Labor Relations Buffalo Co, National Labor Relations Board, Ford Motor Company, Fair Labor, Wesleyan University, NPR, Cathy Creighton Cornell University ILR Locations: Stellantis NV Toledo, Toldeo , Ohio, U.S

☆ Fear over losing work to EVs is driving the UAW strikes, Fmr. Chief of Staff Mick Mulvaney
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFear over losing work to EVs is driving the UAW strikes, Fmr. Chief of Staff Mick MulvaneyHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Mick Mulvaney, Brian Sullivan, “ Organizations: UAW, CNBC

☆ Pence echoes Trump, links UAW strikes to Biden EV push: 'Good for Beijing, bad for Detroit'
▼ + stars: | 2023-09-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Former Vice President Mike Pence argued Tuesday that the Biden administration's push toward electric vehicles was to blame for the historic United Auto Workers strikes underway at the Big Three Detroit carmakers' plants. "I guarantee you that one of the things that's driving that strike is that Bidenomics and their green energy, electric vehicle agenda is good for Beijing and bad for Detroit, and American autoworkers know it," Pence said on CNBC's "Squawk Box." The strikes are a "reflection of the failed economic policies of the Biden administration," said Pence, whose campaign to win the 2024 Republican presidential has struggled to gain traction in the polls. "This drive toward electric vehicles, driving people away from gasoline-powered vehicles, any auto worker that's paying attention would know that's not in their long-term interest," he said. Pence's stance on the strikes echoed the one pushed by his former boss, ex-President Donald Trump, the current front-runner in the GOP nomination contest.

Persons: Mike Pence, Biden, Pence, that's, Donald Trump Organizations: United Auto Workers, Big, Detroit, Republican, GOP Locations: Beijing, Detroit

On Monday, the UAW held talks with Stellantis though no deal was reached. About 12,700 UAW workers are on strike as part of a labor action targeting three U.S. assembly plants - one at each of the Detroit Three - after the prior four-year labor agreements expired. He said the UAW is ready to do what was necessary when asked whether it would extend the strike to other plants this week. Ford has an assembly plant and two engine plants in Canada with a total of about 5,000 union workers. Shares of BlueScope Steel (BSL.AX) slipped to an over three-month low as the strike weighs on its North American business.

Persons: Hakeem Jeffries, Rebecca Cook, plateauing, Shawn Fain, Fain, Unifor, Ford, Janet Yellen, Biden, Yellen, Stellantis's Ram, David Shepardson, Ben Klayman, Doina Chiacu, Deepa Babington, Alexander Smith Organizations: Democratic, U.S . House, United Auto Workers, Ford Motor Michigan, Plant, Wayne , Michigan U.S, REUTERS, Detroit Three, Union, General Motors, Ford, UAW, Detroit, MSNBC, CNBC, Ford Bronco, Chevrolet, Michigan Bronco, GM's, Silverado, BlueScope, Reuters, Thomson Locations: Wayne , Michigan, Canada, Michigan , Ohio, Missouri, Chevrolet Colorado, Kansas, North America, Michigan

☆ Hyundai Motor's South Korea union accepts 12% wage hike deal
▼ + stars: | 2023-09-18 | by ( Heekyong Yang | ) www.reuters.com time to read: +2 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. Workers at Hyundai Motor, the No.3 global automaker by sales with its affiliate Kia Corp (000270.KS), last went on strike in 2018. The United Auto Workers (UAW) last week went on strike against all three Detroit automakers - General Motors Co (GM.N), Ford Motor Co (F.N) and Stellantis (STLAM.MI) - at once for the first time. Hyundai Motor Group, which houses Hyundai Motor, Kia, luxury brand Genesis, operates U.S. production sites in Alabama and Georgia. “The labour risks have been there all along, especially in the auto sector, but this UAW strike is unprecedented.

Persons: Andrew Kelly, ”, Lee Jae, Heekyong Yang, Andrew Heavens, Jan Harvey, Nick Zieminski Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai, Workers, Kia Corp, United Auto Workers, UAW, Detroit, General Motors Co, Ford Motor, Hyundai Motor Group, Kia, Eugene Investment, Securities, Thomson Locations: Manhattan , New York City, U.S, Rights SEOUL, South Korea, Alabama, Georgia, United States

☆ UAW and automakers GM, Ford and Stellantis try to reach deal before strike widens
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Striking United Auto Workers walk the picket line outside the Ford Michigan Assembly Plant in Wayne, Michigan, U.S. September 17, 2023. REUTERS/Rebecca Cook Acquire Licensing RightsSept 18 (Reuters) - The United Auto Workers strike against the Detroit Three automakers enters its fourth day on Monday as both sides try to hammer out deals to avoid costly disruptions to more plants. Sample HTML blockAbout 12,700 UAW workers are 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. The strikes have halted production at three plants in Michigan, Ohio and Missouri that produce the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, along with other popular models. Besides higher wages, the UAW is also demanding shorter work weeks, restoration of defined benefit pensions and stronger job security as automakers make the shift to electric vehicles.

Persons: Rebecca Cook, Shawn Fain, Stellantis's Ram, David Shepardson, Ben Klayman, Deepa Babington Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, Detroit Three, Union, General Motors, Ford, UAW, Ford Bronco, Chevrolet, GM's, Silverado, Reuters, Thomson Locations: Wayne , Michigan, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado

☆ Wall Street Journal's Tim Higgins explains why Elon Musk is the winner of the UAW strike
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWall Street Journal's Tim Higgins explains why Elon Musk is the winner of the UAW strikeTim Higgins, Wall Street Journal reporter, joins 'Squawk Box' to discuss the latest in UAW strike, why he believes Elon Musk and Tesla are looming over strike negotiations, the role of Biden administration on the strike, and more.

Persons: Tim Higgins, Elon Musk, Biden Organizations: UAW, Wall Street Journal

☆ Janet Yellen on the auto strikes: We want to see the two sides come to a win-win agreement
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJanet Yellen on the auto strikes: We want to see the two sides come to a win-win agreementTreasury Secretary Janet Yellen joins 'Squawk on the Street' to discuss the impact of the UAW strike, what's driving the recent labor activism, and more.

Persons: Janet Yellen, what's Organizations: UAW

☆ There's a definite cost advantage for Tesla using non-union plants, says Gabelli's Brian Sponheimer
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a definite cost advantage for Tesla using non-union plants, says Gabelli's Brian SponheimerBrian Sponheimer, Gabelli Funds Portfolio Manager, joins 'Closing Bell Overtime' to talk the impact of the UAW strike on auto stocks, where Tesla gets an advantage and more.

Persons: Brian Sponheimer Brian Sponheimer, Tesla Organizations: UAW

☆ Monday, Sept. 18, 2023: Cramer is buying more of this software Club holding
▼ + stars: | 2023-09-18 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Monday, Sept. 18, 2023: Cramer is buying more of this software Club holdingJim Cramer and Jeff Marks discuss the market ahead of the Federal Reserve's meeting this Wednesday. Jim emphasizes his excitement for buying more shares of a software Club holding. Finally, Jim and Jeff discuss several auto names on the fourth day of the UAW strike.

Persons: Cramer, Jim Cramer, Jeff Marks, Jim, Jeff Organizations: Club, UAW

☆ 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

☆ Ford and GM workers already make $20 more per hour than Tesla employees. Their union's demands would double that gap.
▼ + stars: | 2023-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Detroit executives have Tesla in mind as they reject the UAW's big demands. The labor cost gap between the Detroit 3 and Tesla is already staggering. Tesla is the "clear winner" in the UAW strike, one analyst said. The UAW launched a first wave of targeted strikes last week after months of negotiations for new labor contracts with Ford, GM, and Jeep-owner Stellantis. Tesla spends about $45 an hour on labor (this cost combines hourly wages and benefits), while Ford, GM, and Stellantis are currently spending about $66 an hour on their labor, according to industry analysts.

Persons: Tesla, Stellantis, Wells, Elon, Dan Ives Organizations: Detroit, UAW, Service, United Auto Workers, Ford, GM, Deutsche Bank, Toyota, Honda, Tesla, Thrones Locations: Wall, Silicon, Detroit, Michigan , Ohio, Missouri, Wells Fargo

☆ The UAW is playing with fire. Jim Cramer says Ford could be forced to flip the script
▼ + stars: | 2023-09-18 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The United Auto Workers strike entered Day 4 on Monday, and both sides remained far apart on pay hikes. By striking Ford, the UAW is "playing with fire," according to Jim, who said the automaker might get tired of trying to appease union demands and just lock workers out. Ford CEO Jim Farley told CNBC last week that UAW demands would bankrupt the company. In addition to top-line pressure on its EV unit and companywide cost pressure from the UAW strike, Ford needs to work its way through this transition from high-profit ICE vehicles to the currently money-losing EVs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Ford, Jim Farley, Goldman Sachs, Tesla, Washington, Joe Biden, Biden, Jim Cramer's, Shawn Fain, Bill Pugliano Organizations: United Auto Workers, Ford, UAW, Detroit, Plant, Bronco, Ford's, General Motors, Chrysler, GM, CNBC, White House, Getty Locations: Michigan, Wayne, Wentzville , Missouri, Toledo , Ohio, U.S, Mexico, Detroit, Detroit , Michigan

☆ UAW strike on big 3 automakers enters day 4
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAW strike on big 3 automakers enters day 4CNBC's Phil LeBeau reports on the latest from the UAW strike negotiations.

Persons: Phil LeBeau Organizations: UAW

☆ Many Asian global automakers will benefit from the UAW strike, researcher says
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMany Asian global automakers will benefit from the UAW strike, researcher saysJames Hong, head of mobility research at Macquarie Capital, discusses the impact of the United Auto Workers strike against the Detroit Three automakers on others in the global industry.

Persons: James Hong Organizations: UAW, Macquarie Capital, United Auto Workers, Detroit Three

☆ Ford also faces possible strike at plants in Canada
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFord also faces possible strike at plants in CanadaCNBC's Phil LeBeau joins 'The Exchange' to discuss Ford, Stelantis, and GM back at the bargaining table as the UAW strike continues into day four, the strike halting 15% of UAW production, and the potential for a Ford strike in Canada.

Persons: Ford, Phil LeBeau Organizations: Ford, UAW Locations: Canada

☆ Gas prices are unusually high. Here's why you shouldn't worry
▼ + stars: | 2023-09-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Instead, gasoline prices are getting more expensive and are just pennies away from their highest level so far this year. Are rising oil prices another item to add to the list? How high do you think oil prices will go? When you adjust for inflation, oil isn’t that high right now. I think that we are going to see continued high prices for a lot of stuff, including gasoline, but I don’t think we’re gonna see an acceleration in prices.

Persons: David Kelly, Bell, Kelly, it’s, we’re, We’ve, — aren’t, Eva Rothenberg, Sen, Bernie Sanders, CNN’s Jake Tapper, “, ”, Jared, Kay Jewelers, Parija Kavilanz, Virginia Drosos Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Asset Management, Strategic Petroleum Reserve, Federal, UAW, United Auto Workers, General Motors, Ford, Vermont Independent, Signet Jewelers, Signet, Diamonds, Goldman, Global Retailing Conference Locations: New York, Saudi Arabia, Russia, Libya, Ukraine, Gulf of Mexico, United States, Nile

☆ The UAW strikes are concerning but won't lead to a full-blown recession, says Moody's
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe UAW strikes are concerning but won't lead to a full-blown recession, says Moody'sMike Brisson, Director of Economic Research at Moody's Analytics, discusses the economic impact of the United Auto Workers strikes.

Persons: Mike Brisson Organizations: UAW, Economic Research, Moody's, United Auto Workers

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