Posts tagged Mary Barra
GM profit sharing: Here’s the record amount UAW members will get for 2024
January 28, 2025 // The previous record of up to $12,750 for about 42,300 eligible hourly employees was set in 2023. Last year, GM paid roughly 45,000 workers up to $12,250. United Auto Workers Vice President Mike Booth said in a letter to members the payments would be distributed on Feb. 28. The payouts will amount to $640 million in cost for the company, GM CEO Mary Barra said in a letter to shareholders.
Bernie Moreno, former car dealer elected to Senate, says Fain is a hack not helping workers
November 12, 2024 // Moreno did try to save jobs back in 2018 when General Motors announced it would permanently close its Lordstown Assembly plant in northeast Ohio, which built the Chevrolet Cruze sedan. As the Free Press reported in 2019, Moreno met with GM leaders, proposing to buy 150,000 to 180,000 Cruze cars to start a global ride-hailing company similar to Uber. GM CEO Mary Barra rejected the idea. GM shuttered Lordstown that spring.
What the UAW and Big 3 really thought of Biden’s picket line visit
November 8, 2023 // “This is the first time in American history a president has taken a side, walking a picket line,” said Chris Spear, head of the American Trucking Associations. “It’s not only anti-business, it kicks 90 years of impartial mediation by a president to the curb.” Biden’s decision to walk the picket line, he added, was “a new low as to what one will do to curry political endorsements.”
Bad vibes are sending shudders through Tesla, GM and Ford
October 30, 2023 // EV-specific factors include higher average costs than gas-powered models and many consumers lack of familiarity with the tech. "I see EV sales plateauing and even falling over the next 6 months," Brauer predicts. Threat level: "Investors have been too optimistic about EV demand growth . . . slowing demand growth is coming sooner than expected, especially in the high-end EV market," said Lee Hang-koo of Korea Automotive Technology Institute tells the Financial Times.
UAW president stoking members’ anger against auto executives
October 12, 2023 //
The Future of Electric Vehicles Looms Over Negotiations in the US Autoworkers Strike
October 12, 2023 // So far, neither Ford nor Stellantis has agreed to the change, which would pull employees at all 10 U.S. battery factories proposed by Detroit automakers into national contracts with the UAW, all but assuring they'll be unionized. Fain also wants workers at the plants to make top UAW assembly plant wages, which now are $32 per hour. With the UAW strike now in its fourth week, EVs and their potential impact on job security have become central to union negotiations with the automakers. Contract talks are likely to determine whether those plants — mostly joint ventures with South Korean battery companies — are union, which may have long-lasting consequences as the auto industry transforms itself.
Musk May Face Someone Else Who’s Ready for a Cage Fight
October 10, 2023 // The long-running decline in union membership mirrors the decline in Detroit’s share of the US vehicle market. That was 90% during the industry’s, and organized labor’s, 1960s heyday. By the time of the debacle of 2009, it had fallen to about 50%. Now it’s closer to 40%. As Kevin Tynan, automotive analyst at Bloomberg Intelligence, points out, the Big Three have effectively downsized by ditching cheaper models and focusing on higher-priced trucks and SUVs to chase profits. As they attempt to open up a new avenue of growth, EVs, they are confronted with big near-term costs that higher pay settlements will exacerbate. “The UAW must broaden its view if it is going to increase its membership,” says Tynan, adding “they have to stop only going back to GM, Ford and Stellantis. There is no more blood in those stones.” The UAW has been aware of this for some time, which is why it targeted foreign automakers’ factories — so called “transplants” — and Tesla itself at various points over the past decade. Such effort has been largely in vain. Tesla, meanwhile, has become profitable at scale only recently. The company’s identity as a disruptive newcomer, with plants far from the UAW’s heartland around the Great Lakes, is another barrier. It is harder to entice workers into a union when their employer is hiring at breakneck speed rather than shedding thousands of jobs. Tesla has also pushed back aggressively against unionization, as those NLRB rulings attest (Tesla is appealing several of these).
GM is shaping up to be the hardest hit by the UAW strike
October 9, 2023 // UAW members have been on strike for more than three weeks against Ford, GM, and Jeep-maker Stellantis, demanding hefty wage increases, an end to the tiered wage system, and more job security in the EV age, among other key issues. The UAW, led by President Shawn Fain, is taking a new approach as the union strikes all three companies at once for the first time. He has announced three targeted work stoppages since the strike began September 15, and GM is the only company that has been targeted all three times. Ford and Stellantis, meanwhile, have only been hit twice each. GM narrowly avoided a fourth strike Friday with an offer that delayed Fain's weekly update for members. The union president added no new strike targets, despite being prepared to shut down production at GM's highly profitable SUV factory in Arlington, Texas. In the face of this threat, Fain said, the UAW nabbed a win on union representation for future battery plants.
GM secures new $6 billion credit line as UAW strike costs reach $200 million
October 5, 2023 // General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. The targeted strikes have already cost the automaker $200 million during the third quarter, GM said Wednesday. The new line of credit is “prudent” to bolstering GM’s balance sheet amid expectations that the union may expand and prolong strikes against the company, GM CFO Paul Jacobson said.
Op-ed: A Raise for Auto Workers May Imperil Biden’s Electric Vehicle Ambitions
October 5, 2023 // Ford CEO Jim Farley said the UAW's proposals could send the automaker into bankruptcy, while Barra said they were not "realistic." Dan Ives, research analyst for Wedbush Securities, said in a note to investors that the UAW's demands, if fully accepted, could cause automakers "to pass these costs onto the consumer" by increasing E.V. prices by as much as $5,000 each. By visiting an active picket line, Biden made his preference clear in the fight between unions and management. But depending on how the negotiations go, he may not be able to have it both ways: Either UAW members can get a big raise, or automakers can push forward in the transition to electric vehicles.