The ongoing autoworker strike against Detroit’s Big 3 automakers (F, GM, STLA) is expanding, targeting Ford. Auto Workers are now setting up picket lines at Ford’s Kentucky Truck Plant, the company’s largest manufacturing facility. The plant is responsible for producing several top-selling Ford models, over $25 billion in annual revenue. Morningstar U.S. Autos Equity Analyst David Whiston joins Yahoo Finance Live to discuss the potential blowback from a prolonged strike, and whether or not any progress is being made in negotiations. “”There’s so much ramifications, not just in the auto supply chain but throughout the whole broader U.S economy.”” Whiston tells Yahoo Finance.
Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV
#uaw #ford #yahoofinance
This is going to be a long-drawn-out card game of Contract hold-out.
Who has the best hand and the best strategy of the win?
Stay tuned for the end of it.
Many of the car lots are full with vehicles not selling. High financing rates keeping people from qualifying for loans. Dealerships adding outrageous markups. More labor costs will drive up the final pricing even more. At some point you have to draw a line. This chain is already a long stack of dominos that affects everyone from the manufacturer, the workers, the suppliers, the local economies, and people who need vehicles for work. Seems to me this isn’t just a strategy to win but has the potential to be strategy for the business to survive in general.
Bankruptcy
Suppliers can also unionize. there is nothing preventing them from doing so.
The UAW is not negotiating! They are insisting that they get EVERYTHING that they want or the strike another plant. The Big 3 May as well send everyone home until an agreement is reached or the strike fund is exhausted!
A solution to the pension funds dilemma tie a pension scheme in to the future financial success of the Automakers, if net profits remain steady at a certain time table or net profit increase then Pensions are funded, if the dynamics change then they are suspended until net profits rebound. Also allocation for higher Senority workers where the companies could offer a lump sum buyout, this would allow management to address employment turn over for future workers and needs, of course such plans require UAW buy in with solid commitment from the Automakers, meaning provisions that cannot be reneged on at a later date.
I mean, nobody told Ford to do a joint partnership with the Chinese for their Battery Plants…Much less accept billions in Tax Payer money to fund the Investments.
ford and gm need to cut productions of us vvehicles to europe and deindustrialize all of europe including investments in america.
They need to target Stellantis they have over 700 Temps that haven’t been scheduled for 3 weeks and can’t collect unemployment. We need help at Sterling Heights Assembly
Just simple. put UAW and Automakers on a bonus system; if they make money. share it , , I make money , if they loose share it as well. thas the talk about some making will come to the surface. If you want more money , be willing to pay the price. Do it now or we will have this visitors every 3 years more confuse than ever. The present approach does not work, so lets go for the new system If I loose so you will too, and see the outcome. Something smart has to come out of this behavior.