Streetbeat News

Labor Issues

F

GM

STLA

U.S. Senator Bernie Sanders has urged Ford Motor Co. (F), General Motors Co. (GM), and Stellantis NV (STLA) to engage in fair negotiations with the United Auto Workers (UAW) union to avoid a potential strike. The UAW, with nearly 150,000 members, has authorized its leaders to call a strike if contract negotiations fail to reach a conclusion by Sept. 15. The three car giants estimate that meeting all of the union's demands would cost each company more than $80 billion over a four-year contract.

Portfolio Pulse from Benzinga Neuro

August 28, 2023 | 9:23 am

HYMTF

A coalition of labor unions and civic groups is pressuring Hyundai (OTC:HYMTF) and the Biden administration to ensure job protection and adequate worker training amid the transition to electric vehicles. The campaign is focused on Hyundai’s electric vehicle plants and clean energy suppliers, and hopes to influence other automakers like B.M.W. and Mercedes-Benz. The unions are demanding job protection, avoidance of plant closures, and establishment of training programs for workers.

Portfolio Pulse from Benzinga Neuro

August 28, 2023 | 9:16 am

F

GM

STLA

The United Auto Workers (UAW) announced that 97% of its members from General Motors Corp. (GM), Ford Motor Co. (F), and Stellantis N.V. (STLA) have authorized a strike if a fair deal is not reached. A strike could disrupt the EV transformation of GM and Ford. The UAW is demanding the reinstatement of certain contract provisions given up in 2007, which could impact the profitability of automakers.

Portfolio Pulse from Shanthi Rexaline

August 26, 2023 | 10:05 pm

META

Meta Platforms Inc. (NASDAQ:META) has updated its return-to-office strategy, mandating employees to be present in the office for at least three days a week and use badge swipes for attendance tracking. The policy has been criticized for diminishing trust within the organization. The company's decision to lay off over 20,000 employees between November 2022 and May 2023 has further eroded trust.

Portfolio Pulse from Bibhu Pattnaik

August 26, 2023 | 8:19 pm

F

GM

SPY

STLA

President Biden has expressed concern over a potential strike by the United Auto Workers (UAW) union. This could impact several major automakers, potentially disrupting production.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 7:44 pm

WBD

Warner Bros. Discovery Inc's (WBD) stock is trading lower due to the ongoing SAG-AFTRA and Writers Guild of America (WGA) strikes and the postponement of the release of 'Dune: Part Two'. The strikes are increasing production costs and disrupting the production of films and other content, leading to delays in releasing new content. This impacts the company's ability to generate revenue and meet audience demands, potentially leading to a decline in the stock price.

Portfolio Pulse from Henry Khederian

August 25, 2023 | 6:26 pm

F

GM

SPY

STLA

Federal Reserve's Goolsbee expressed concerns that a major auto strike could significantly impact U.S. factories. The article potentially mentions Ford (F), General Motors (GM), SPDR S&P 500 ETF Trust (SPY), and Stellantis (STLA).

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:10 pm

UPS

UPS Teamsters-represented employees in Local 710 have voted to approve their collective bargaining agreement with UPS. The contract will go into effect immediately and run through July 31, 2028.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:04 pm

F

GM

STLA

The United Auto Workers (UAW) union's strike authorization vote passed with 97% approval from the 150,000 union workers at Ford Motor Co (F), General Motors Co (GM), and Stellantis NV (STLA). The vote does not guarantee a strike but gives the union the right to call one if the companies refuse to reach a fair deal. The union's demands include wage increases, elimination of tiered wages and benefits, and more paid time off.

Portfolio Pulse from Shivani Kumaresan

August 25, 2023 | 5:53 pm

WBD

Warner Bros. Discovery has postponed the release of 'Dune: Part Two' due to the ongoing SAG strike, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:16 pm