Posts tagged economy
Anderson Economic Group, LLC Reports Strike-Induced Auto Industry Losses Exceed $9.3 Billion
October 26, 2023 // Anderson Economic Group, LLC, a boutique economic consultancy based in Michigan, has calculated that the 2023 UAW strike against Detroit’s three top automakers has surpassed $9.3 billion in economic losses for the auto industry. These calculations encompass losses through the fifth full strike week, which ended at midnight on October 19. These figures do not include plant closures, additional strike targets, or layoffs that took effect on or after Friday, October 19. These will be included in our loss calculations in the sixth and any successive weeks. OEM stands for Original Equipment Manufacturer, in this case referring to Ford, GM, and Stellantis.
Prolonged UAW strike will ‘collapse’ supply chains, Ford chair warns
October 18, 2023 // “This should not be Ford versusthe UAW,” Ford said. “This should be Ford and the UAW versus Toyota, Honda, Tesla, and all the Chinese companies that want to enter our home market. Toyota, Honda, Tesla and the others are loving this strike because they know the longer it goes on, the better it is for them. They will win and all of us will lose.” UAW President Shawn Fain disagreed with Ford’s framing. “It’s not the UAW and Ford against foreign automakers,” Ford said, in remarks published by Detroit News reporter Jordan Grzelewski. “It’s autoworkers everywhere against corporate greed.” Ford warned that an extended strike would challenge supply chains not only at the automaker, but throughout the economy.
Billionaire investor slams President Biden for his UAW union support
October 5, 2023 // Barry Sternlicht, CEO of investment fund Starwood Capital, sees Biden's support of the UAW as counterproductive to his fight against inflation. "The UAW is on strike, they're asking for 40% wage increases. What's wrong with the Biden administration, why is he so unpopular? It's inflation. It's the economy. People have less in their pockets," Sternlicht told CNBC Friday. "But now he is backing unions who are forcing wages up, which is creating the inflation that he has to kill."
Nextracker Plans 200 New Jobs for Right to Work Nevada
October 4, 2023 // Nextracker has plans to create 200 new jobs soon in Right to Work Las Vegas, Nevada. This comes as a result of a new manufacturing facility they will be adding here.
Longtime Union Leader Steps Fully Into Hollywood’s Spotlight
October 2, 2023 // The dual strikes have been devastating financially, with more than 100,000 behind-the-scenes workers like location scouts, makeup artists and lighting technicians out of work. The California economy has lost an estimated $5 billion. Major studios like Disney, Warner Bros. Discovery and Paramount Global have seen their stock prices drop. Analysts have estimated that the global box office will lose as much as $1.6 billion in ticket sales because of movies whose releases were pushed back to next year. Mr. Crabtree-Ireland joined SAG-AFTRA in 2000, a Georgetown graduate with a law degree from the University of California, Davis, who spent the first two years of his career in the Los Angeles County District Attorney’s Office. He rose quickly at the union, first to general counsel, then adding chief operating officer to his title. In 2021, he was named national executive director and chief negotiator, a job that pays $989,700 annually.
CJ Foodville is Coming to Right to Work Georgia
September 29, 2023 // CJ Foodville is establishing a new location soon in Right to Work Gainesville, Georgia. This will serve as a food processing facility and bakery. In order to cover the costs, the company is investing $47 million toward the project. They will also create 285 new jobs. So this will be an excellent addition to Hall County!
Commentary: Leaked Messages From UAW Official Reveal a Big Cause of Unions’ Decline
September 28, 2023 // If union officials actually want to protect UAW jobs and improve workers’ compensation, then they have to want the Big Three American automakers to succeed and to grow. Considering that U.S. auto production is less than half of what it was two decades ago, success is likely going to require that the UAW work alongside—rather than against—U.S. automakers to help them become more competitive. To the extent that involves lobbying policymakers, the focus should be on getting the government out of the business of picking winners and losers by its subsidizing of more expensive electric vehicles that require 40% less labor while also seeking to ban gas-powered vehicles that Americans still overwhelmingly desire. And if unions across America want to increase their membership, they should appeal directly to workers by offering things they value instead of using their dues to get politicians to go against their interests by doing things like attacking secret ballot union elections, restricting employers’ ability to share important information with workers before union elections, and establishing a pathway to force an employer to bargain with a union even if workers don’t want to be represented by it.
American Orthodontics Establishes Operations in Right to Work Wisconsin
September 25, 2023 // Area Development Magazine: “American Orthodontics is a Wisconsin success story and we’re grateful the company has recognized the incredible skill of our workforce and decided to expand here as part of the Northern Gateway Community Collective. […] This development pairs the employment opportunities at American Orthodontics with housing, elder care, child care and even doggie daycare to create a community.”
The Kroger Company Adds Right to Work Tennessee Facility
September 20, 2023 // The Kroger Company is adding a new location soon in Right to Work Cleveland, Tennessee. This will serve as a central fill facility for the company. As a result, the new location will also mean 140 new jobs for the area. So this is an exciting economic development for Bradley County!
The UAW Might Drive the Big Three off a Cliff
September 14, 2023 // Automakers face this reality every day. General Motors is losing money on every electric vehicle, a situation that it hopes to change by 2025, though the path is far from certain. Ford’s EV line is expected to lose $4.5 billion this year, up nearly 50 percent over last year. Stellantis’s CEO has said the costs of the EV transition are “beyond the limits,” meaning the industry can’t continue down this road without making EVs prohibitively expensive.