First time in history the UAW is striking against all big three automakers
Detroit
CNN
—
The United Auto Workers union is on strike against General Motors, Ford and Stellantis, the first time in its history that it has struck all three of America’s unionized automakers at the same time.
Workers on Friday walked out of three plants – one each from the Big Three automakers – in Missouri, Michigan and Ohio. Picketers were met with cheers from sign-waving union members.
The UAW referred to its targeted strike of three plants as a “Stand Up Strike,” which it called a strategic “new approach” to walking off the job.
www.cnn.com/2023/09/15/business/auto-workers-strike/index.html
Update (0800ET):
General Motors CEO Mary Barra told CNBC in an interview:
“I’m frustrated and disappointed. We don’t need to be on strike right now.
“We have a very generous offer on the table right now. It’s historic. From a wage increase perspective, it’s the most significant offer we’ve had in our 115-year history.”
Barra warned:
Strikes will “not be good for the economy overall.”
She added:
Strikes can be resolved “very quickly” after a “historic” offer from the automaker.
“I’m frustrated and disappointed. We don’t need to be on strike right now,” says $GM CEO Mary Barra. “We have a very generous offer on the table right now. It’s historic. From a wage increase
perspective, it’s the most significant offer we’ve had in our 115-year history.” pic.twitter.com/RO6xrv1Yq2
— Squawk Box (@SquawkCNBC
www.zerohedge.com/markets/unprecedented-uaw-strike-13000-workers-walk-job-detroit-automaker-plants
According to Bloomberg, a 10-day UAW strike would reduce US GDP by $5.6 billion.
The auto industry accounts for 3% of US GDP.
A strike longer than a few days would send many midwest states into a recession.
Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/sLepRwUKob
— The Kobeissi Letter (@KobeissiLetter) September 15, 2023
UAW reportedly wants $300,000 a year to work 4 days a week, per Ford, $F, CEO: pic.twitter.com/FLiLI8fnjE
— unusual_whales (@unusual_whales) September 15, 2023