# BREAKING NEWS! UAW STRIKES GM



## obermd (Mar 3, 2012)

Given the way GM has been treating their workers this really doesn't surprise me. GM has shuttered several plants over the past year in both the US and Canada and left workers hanging.


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## ChevyGuy (Dec 13, 2014)

Another article I read indicated that UAW is targeting GM as they've been the most profitable. Whatever they work out with GM will set the stage for talks with the other automakers whose talks have been extended. However, it seems that GM is already offering the best in-class pay. 

GM is also leery of anything that increases their costs, so they're more interested in bonuses and such. Understandably, GM is nervous about what the future of car manufacturing is going to look like. Between electric cars and self-driving cars, the entire industry could be upended. GM needs to keep lean and it's options open.


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## plano-doug (Jul 1, 2015)

ChevyGuy said:


> Another article I read indicated that UAW is targeting GM as they've been the most profitable.


Historically, I think GM has often been the target because of their size. Seems like Iacocca, in his book, said that often GM would settle with the union and establish the new pay metrics, and Ford and Chrysler would follow suit.

Doug

.


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## Eddy Cruze (Jan 10, 2014)

*No Deal: Auto workers strike against GM *


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## cwerdna (Mar 10, 2011)

Was mentioned on http://nbr.com/2019/09/16/nightly-business-report-september-16-2019/ earlier tonight (time index ~9:51) that hourly labor costs for GM in the US including wages and benefits are $63 per hour, higher than Ford, FCA and foreign automakers in the US (which are all or almost all non-union).

https://www.cnbc.com/2019/09/13/us-...eres-what-could-make-uaw-strike-saturday.html mentions this figure, as well.

In Mexico (for example), auto worker wages are MUCH lower. The first part isn't apples to apples since it doesn't include benefits but https://www.bloomberg.com/news/articles/2017-05-05/how-mexico-s-unions-sell-out-autoworkers


> The German automaker had unwrapped its own gift two days earlier, a labor contract signed by a representative from the state chapter of the Confederación de Trabajadores de México (CTM), the country’s largest union confederation, and notarized by a Labor Ministry official. The document, which Bloomberg reviewed, sets a starting wage of about $1.10 per hour and a top wage of $2.53 for assembly-line workers. The starting rate is only a bit more than half the $2.04 an hour that is the average at Mexican auto plants, says Alex Covarrubias, a lecturer at the University of Sonora in Hermosillo.
> ...
> Mexican assembly-line workers earn about one-tenth of what their U.S. counterparts make.


And, there's https://money.cnn.com/2017/11/22/news/economy/mexico-minimum-wage/index.html (minimum wage in Mexico was raised in Dec 2017 from $4.25 per DAY to $4.70 per DAY).

Imagine that coupled w/all the increasing pressure for automakers to remain competitive and satisfy Wall Street's desire to grow both the top and bottom line.


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## BU54 (Nov 24, 2014)

How much does a UAW worker make per hour? If you want some of their profit buy some of their stock. I see they pay .38 a share quarterly. That's roughly 4%, better that money in the bank. Just sayin....


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## Eddy Cruze (Jan 10, 2014)

.38 eh, but what if the stock loses value?


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## BU54 (Nov 24, 2014)

Eddy Cruze said:


> .38 eh, but what if the stock loses value?


Then the yield increases making the stock/company look more impressive, undervalued. Company profits and investor sentiment have more pressure on stock prices.


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## Eddy Cruze (Jan 10, 2014)

BU54 said:


> Then the yield increases making the stock/company look more impressive, undervalued. Company profits and investor sentiment have more pressure on stock prices.


This I did not know. I thought losing Millions was bad on Share Value. Read this today:
*Thousands more auto workers furloughed with more layoffs coming as GM and suppliers idle plants in UAW strike*


KEY POINTS

Canadian trade union Unifor says roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.
That includes about 2,500 workers at GM’s Oshawa Assembly plant and 2,000 people who work for GM’s suppliers.
More temporary layoffs are expected the longer the strike lasts.


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## BU54 (Nov 24, 2014)

It all depends on how long the strike lasts. GM has deep pockets and can sustain a strike for a while. Watch share prices jump when the strike is over even though profits haven't resumed yet.
I have no desire to invest in GM or any other auto maker. Too volatile of an industry for me.


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## JoeInMilwaukee (Dec 10, 2014)

BU54 said:


> I have no desire to invest in GM or any other auto maker. Too volatile of an industry for me.


If you own any mutual funds or ETFs that include large-cap stocks, you're most likely already invested in GM, Ford, etc.


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