Marjorie Taylor Greene Rails Against Biden Administration For Surrendering Energy Independence To China: 'I Feel Bad For The Auto Workers'
Portfolio Pulse from Shanthi Rexaline
The United Auto Workers union members have gone on strike, affecting Ford Motor Co. (F), General Motors Corp. (GM), and Stellantis NV (STLA). Rep. Marjorie Taylor Greene criticized the Biden administration's push for electrification, claiming it will lead to job losses. A 10-day strike could cost over $5 billion, according to Deepwater Asset Management. If the Big Three automakers agree to 25% of the proposed wage hike, their costs will be 40-45% higher than non-unionized Tesla, Inc. (TSLA).
September 16, 2023 | 1:16 pm
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POSITIVE IMPACT
Tesla could potentially benefit from the strike and wage hike affecting the Big Three automakers, as their non-unionized labor costs would remain lower.
Tesla is not directly affected by the strike or wage hike. However, if the Big Three's labor costs increase, Tesla's competitive position could improve due to its lower labor costs.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The ongoing strike and potential wage hike could increase Ford's labor costs, negatively impacting its financial performance.
The strike is directly affecting Ford's operations. If they agree to the wage hike, their labor costs will increase, potentially affecting their profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The ongoing strike and potential wage hike could increase GM's labor costs, negatively impacting its financial performance.
The strike is directly affecting GM's operations. If they agree to the wage hike, their labor costs will increase, potentially affecting their profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The ongoing strike and potential wage hike could increase Stellantis's labor costs, negatively impacting its financial performance.
The strike is directly affecting Stellantis's operations. If they agree to the wage hike, their labor costs will increase, potentially affecting their profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100