Some of the economic impacts of the auto strike may eventually ripple across tech and the chip industry.
The impact on these companies varies based on a few factors, including the length of the strike and each company's exposure to automakers. The UAW has opted for a
There could be far-ranging effects on the economy broadly — but it will have to be a pretty extreme situation to get there. GM workers with the UAW Local 2250 Union strike outside the General Motors Wentzville Assembly Plant on Sept. 15, 2023, in Wentzville, Mo.
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UAW Prepares to Strike With Contract Talks Still Far Apart Ahead of DeadlineUnited Auto Workers President Shawn Fain said talks with automakers for a new labor contract are still far apart, reiterating a threat to strike the companies.
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Japanese Auto-Parts Maker Frets Over Supply-Chain Hit From a UAW StrikeAisin Corp., a major Japanese car parts manufacturer, is worried a strike by the United Auto Workers against Detroit automakers would have a much broader impact, according to the company’s top US executive.
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UAW Strike: GM in ‘most vulnerable position,’ analyst saysThe United Auto Workers strike deadline against the Big Three automakers, Ford (F), General Motors (GM), and Stellantis (STLA), is just over 24 hours away. CFRA Equity Analyst Garret Nelson joins Yahoo Finance Live discusses how the potential strike will impact the automakers and other companies, such as suppliers. Nelson says, “it’s nearly 100% certainty that there is going to be a strike,” but the big question is will “the UAW strike one company, would they strike all three, or specific plants? And the latest chatter is that they’re likely to strike specific plants.” Nelson notes that “General Motors is in the most vulnerable position... because of their inventory.” Nelson explains how GM has reportedly “made the most generous offer” recently and seems “to be making more concessions” compared to Ford or Stellantis because GM’s inventories are “much lower across their four major brands, Chevy, Cadillac, Buick, and GMC, than the inventories of any of the Ford or Stellantis brands.” Nelson adds that Magna International (MGA) and Lear Corporation (LEA) are “most at risk” from a strike because of their degree of exposure to the Big Three. Whereas, Tesla (TSLA) would be “the big winner” from a UAW strike.
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Biden wants UAW, automakers to work around-the-clock to avert strikeWASHINGTON (Reuters) - U.S. President Joe Biden wants auto union UAW and major automakers to work around-the-clock to avoid a strike, White House ...
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Biden wants UAW, automakers to work around-the-clock to avert strikeWASHINGTON (Reuters) - U.S. President Joe Biden wants auto union UAW and major automakers to work around-the-clock to avoid a strike, White House ...
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Retail sales data, earnings, UAW strike: What to watchAugust retail sales are expected out before Thursday’s opening bell, while investors are on the lookout for Lennar’s (LEN) and Adobe’s (ADBE) earnings following Thursday’s close.The contract deadline is fast approaching for the United Auto Workers and Detroit’s Big Three automakers — GM (GM), Ford (F), Stellantis (STLA) — with the labor union threatening a strike if its employment demands are not met by midnight, Thursday night.
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