Streetbeat News

Labor Issues

F

Ford Motor is still in negotiations with the United Auto Workers (UAW) union. The company states that they are bargaining issue by issue, similar to their negotiations with Unifor in Canada. There is still more work to be done before an agreement can be reached.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:32 pm

GM

STLA

UAW President Shawn Fain announced that Stellantis and General Motors rejected profit sharing proposals, leading to workers striking at all parts distribution centers. The union will strike at 38 locations across 28 states.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:21 pm

F

UAW President Shawn Fain announced that Ford has agreed to an enhanced profit-sharing formula. Despite ongoing serious issues, Ford is committed to reaching a deal. No concessions have been made yet, but Ford has agreed to reinstate Cola.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:20 pm

F

UAW President Shawn Fain has announced that Ford has made improvements in their contract offer, including the right to strike over plant closures. Additionally, the union has won additional job security at Ford in the event of layoffs.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:19 pm

F

GM

STLA

UAW President Shawn Fain has stated that Stellantis and General Motors will require serious pushing, while the union has made progress with Ford Motor in contract talks.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:17 pm

F

GM

STLA

TM

TSLA

The ongoing UAW strike against Stellantis N.V., General Motors, and Ford Motor could benefit Tesla and Toyota. The strike has resulted in layoffs and production halts at the Detroit Big Three automakers, potentially costing them $7 billion to $8 billion in lost profits. Meanwhile, Toyota, which does not have unions at its U.S. factories, is set to launch redesigned Tacoma pickup trucks. Tesla could also benefit as the potential wage and benefit increases for Detroit automakers could strengthen Tesla’s cost structure advantage.

Portfolio Pulse from Upwallstreet

September 22, 2023 | 2:03 pm

F

According to Reuters, the United Auto Workers (UAW) union will not expand its strike against Ford Motor Company (F).

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:02 pm

GM

STLA

The United Auto Workers (UAW) union is expected to announce significant new strikes against Stellantis and General Motors (GM), targeting at least six facilities in Michigan, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:51 pm

F

GM

SPY

STLA

The United Auto Workers (UAW) has announced that it has made significant progress in labor talks with Ford. The UAW also plans to invite President Biden to join the picket line.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:21 pm

F

FTXR

GM

STLA

The United Auto Workers (UAW) union threatens to expand walkouts at General Motors Co. (NYSE:GM), Ford Motor Co. (NYSE:F) and Stellantis NV (NYSE:STLA) due to unresolved labor disputes. The ongoing strike is causing a production loss of about 3,200 vehicles per day. The First Trust Nasdaq Transportation ETF (NYSE:FTXR), which includes these three automakers, fell by 1.6%.

Portfolio Pulse from Piero Cingari

September 22, 2023 | 1:11 pm