UAW-GM Strike Becomes an All-Hands-on-Deck Affair; Mary Barra Reportedly at the Table
Now in its fifth week, the strike by UAW-affiliated workers that darkened General Motors plants across the continent and reportedly cost the company $2 billion may soon achieve results.
Late Monday night, numerous media outlets reported that local union leaders were being called to Detroit for a Thursday meeting. This morning, word arose that GM CEO Mary Barra and President Mark Reuss had taken a seat at the bargaining table.
As reported by CNBC, the union leaders are heading to the Motor City for an update on the ongoing contract negotiations. Given that the present labor action long ago garnered their seal of approval, the most likely reason for their attendance would be to greenlight a tentative agreement.
The meeting is made all the more significant by reports that GM’s top executives joined bargaining teams on Tuesday morning. A source claimed that, while a deal still hasn’t been reached, bargaining is in the “home stretch.”
Reuters corroborated the report, citing two sources who claim Barra and Reuss were indeed at the table. With sticking points like worker health care and temporary employees dragging the strike out longer than many would have expected, the pressure is on to deliver a contract both sides can agree on. On Monday, the UAW upped its strike pay.
Late last week, the union sent a counterproposal to GM, though there’s been little word on how well it was received. The proposal may have provided just enough in the way of concessions to get both sides into position for a tentative agreement.
Bank of America estimates the strike has erased $2 billion in profits for the automaker. In a note to investors, BoA analyst John Murphy wrote, “A prolonged strike could burn significant cash and bring GM to its knees, but investors likely will also react negatively if management is perceived to have caved into labor’s demands and GM’s long-term competitiveness is threatened.”
[Image: General Motors]
Jeff S on Oct 16, 2019
@Oldschool--Agree with every point you made. The first place to start is clean house. Get rid of Barra and most of Management. Bring in a CEO that actually likes cars and has a passion for all types of vehicles. Don't drop anymore cars--take what you have and improve the quality. As you stated above improve the dealer experience and definitely improve the service.
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- MaintenanceCosts The ZR2 looks like a cartoon of a truck. I'd rather have one that just looks like a truck. Without the configurator it's hard to know for sure but my choice is probably a loaded Z71.
- Roadscholar My 3k mile Veloster N has been at the dealer for 2 weeks for an engine misfire. At least I didn't get a ticket but I'd like to have my car back eventually.
- SCE to AUX Cox reports that inventory is at 37 days - a far cry from the 60-70 considered normal just a few years ago. Average 'listing price' is $46k.https://www.coxautoinc.com/market-insights/new-vehicle-inventory-july-2022/Demand remains high and supply remains low, which is why dealers continue to mark up prices.As for affordability, it's not that people's income has changed, but car prices are pushing some out of the market. That will have a long-term effect on new car demand, but it will also drive used car prices even higher.In the last year, Tesla has now passed VoA, BMW, Mazda, and Lexus, and is close to catching Subaru. That's gotta bother some people.
- Arthur Dailey I do miss the exuberant exterior colours of the 1950's domestics, including the two-tone paint jobs. And 'there is no face like chrome'.
- Bunkie From the “you can’t make this stuff up” department, the headline of the ad that occupied the screen right next to the picture of this Maserati read “Blunder #11”It’s an in joke in my household as my wife keeps getting offers from one of her financial institutions to lease a Maserati, an offer that is, consistently, declined.