'President Biden Will Speak Tuesday In Michigan To Support The UAW' - The Washington Post
Portfolio Pulse from Benzinga Newsdesk
The United Auto Workers (UAW) has expanded its strike against General Motors (GM) and Stellantis (STLA), but not Ford (F), due to lack of progress in contract talks. The strike now includes 38 warehouses in 20 states. President Biden is expected to speak in Michigan to support the UAW. The strike could impact Americans who drive Jeeps and Chevy Silverados. The union is seeking a 36% wage increase over four years, improved retirement benefits, and more paid time off. Automakers are offering raises of around 20% over four years.
September 22, 2023 | 8:26 pm
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POSITIVE IMPACT
Ford is not targeted in the expanded strike as negotiations are progressing. Ford has agreed to reinstate cost-of-living adjustments to wages and offer new job-security provisions.
Ford's stock may see a positive impact in the short term as it is not targeted in the expanded strike and negotiations are progressing. This could be seen as a positive sign by investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
General Motors is targeted in the expanded UAW strike due to lack of progress in contract talks. The strike could impact Americans who drive Chevy Silverados.
The expanded strike against GM could negatively impact the company's operations and potentially its stock price in the short term. The strike could also impact the company's reputation among consumers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Stellantis is targeted in the expanded UAW strike due to lack of progress in contract talks. The strike could impact Americans who drive Jeeps.
The expanded strike against Stellantis could negatively impact the company's operations and potentially its stock price in the short term. The strike could also impact the company's reputation among consumers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90