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Labor Issues

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Ford Motor Company has suspended construction of its $3.5 billion electric vehicle (EV) battery plant in Michigan due to criticism over its plans to use licensed Chinese battery technology. The pause coincides with a United Auto Workers strike against Ford and other automakers. The plant, initially announced in February, was planned to be operational by 2026, employing 2,500 workers and marking Ford as the first automaker to manufacture next-generation lithium, iron, and phosphate batteries in the U.S.

Portfolio Pulse from Benzinga Neuro

September 26, 2023 | 4:17 am

WBD

Warner Bros. Discovery Inc. (NASDAQ:WBD) shares traded lower amid increased volatility after the Writers Guild of America (WGA) reached a tentative agreement with entertainment companies, including a significant increase in compensation for streaming content. The agreement could potentially speed up negotiations with SAG-AFTRA, which represents tens of thousands of actors.

Portfolio Pulse from Ryan Gustafson

September 25, 2023 | 8:48 pm

UAL

The Air Line Pilots Association (ALPA) has reached a tentative agreement with Air Wisconsin that includes scheduling and reserve improvements, as well as the creation of a new ALPA-Company Fatigue Review Panel. The agreement also includes a 38% pay increase for captains and a 54% increase for first officers.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:35 pm

UAL

Air Line Pilots Association has announced that Air Wisconsin pilot leaders have reached a tentative agreement on a new contract. The agreement includes almost $48M in new value for the Air Wisconsin pilots over its 3-year duration.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:28 pm

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Contract talks between the United Auto Workers (UAW) and Ford Motor Co. are reportedly 'very active', according to a UAW source. No further details were provided.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:18 pm

WBD

Warner Bros. Discovery shares are experiencing increased volatility following the acceptance of a tentative agreement between Hollywood writers and studios.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 7:24 pm

GM

Unifor, the union representing workers at General Motors (GM) in Canada, has announced that its bargaining committees will work to negotiate a pattern-setting agreement ratified by members at Ford of Canada, in addition to addressing GM-specific issues. The negotiations with GM cover about 4,300 workers.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 7:09 pm

GM

Unifor, the union representing Canadian auto workers, has announced that General Motors (GM) will be the next target in its negotiations with the Detroit Three automakers. The talks are set to begin on September 26.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 7:08 pm

GM

STLA

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TSLA

WKSP

The United Auto Workers union is expanding its strike against General Motors and Stellantis, potentially impacting dealership operations. The strike could benefit Tesla, as it may widen the gap between Tesla and its rivals. Worksport Ltd announced a long-term supply agreement for its solar charging covers for electric pickup trucks, potentially bringing in $16 million in annual sales. The strike could also result in increased costs for General Motors, Stellantis, and Ford, potentially making their business models unsustainable. Toyota could also benefit from the strike due to its nonunionized workforce.

Portfolio Pulse from Upwallstreet

September 25, 2023 | 4:16 pm

AMC

AMC Entertainment Holdings Inc's CEO, Adam Aron, sees potential growth for movie theaters following a tentative writers strike deal. The deal includes compensation increases for streaming content, studio concessions on minimum staffing for TV shows, and guarantees related to AI's role in the industry. Aron suggested that the potential deal creates significant upside for movie theaters, a welcome sign for AMC investors who have seen shares battle heavy selling pressure over the last few months. AMC shares were up 8.13% at $8.25 at the time of publication.

Portfolio Pulse from Adam Eckert

September 25, 2023 | 3:31 pm