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A surprising economic storm: UAW expands strike nationwide
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The strike of the three major US car manufacturers is imminent, and trade unions may start with the “weaknesses” of car companies

$Tesla(TSLA.US)$ On September 14, a “black swan” may impact US stocks and even the US economy as a whole
The strike of the three major US car manufacturers is imminent, and trade unions may start with the “weaknesses” of car companies
The most intense in 40 years, America's “summer of strikes” will reach its climax this week!
We still have very big differences of opinion when it comes to labor contract negotiations. Strantis even wants the right to close and sell 18 factories
This may be the first time in history that the three major automobile manufacturers in Detroit in the US have gone on strike together.
Thursday, September 14 is the deadline for the National Automobile Federation (UAW) to threaten a strike at Detroit's top three automakers.

On Wednesday, UAW President Fain said that now Ford is proposing a 20% salary increase, GM is proposing an 18% increase, and Strantis is proposing a 17.5% salary increase. The salary increase proposed by these three major car manufacturers is far different from the salary increase proposed by UAW.

Fain said:

We still have very big differences of opinion when it comes to labor contract negotiations. Strantis even wants the right to close and sell 18 factories (without the need for factory workers to vote).

This may be the first time in history that the three major automobile manufacturers in Detroit in the US have gone on strike together.

Fain said:

We haven't made an offer that reflects the sacrifices and contributions our members have made to these companies. To win, we may have to act. We're preparing to hit these companies in ways they've never seen before.

However, Fain said:

We will not go on a full-scale strike (for all facilities) all at once; in the initial stage, we will selectively strike at a few facilities. Despite this, it is still possible that all factories will go on strike at the same time, which would be an unprecedented event.

Fain said the goal of the targeted strike was to reach a fair labor agreement for members:

But if these companies continue to bargain in bad faith, or continue to delay, or continue to provide us with insulting offers, then our strike will continue to intensify.

The UAW will announce some of the goals of the strike at 22:00 EST on September 14. The UAW's current employment contract expires tomorrow at midnight EST.

Fain said UAW will not extend (existing) labor contracts.

UAW reduced the salary increase from 40% (46% after a compound increase) to 36%. Fain said the union proposed reaching maximum wage levels within 90 days and restoring pensions and health care for retirees to all workers. The three companies agreed to shorten the period for full pay to four years, he said. All three automakers have rejected pension and retiree health proposals for workers hired after 2007.

The place where trade unions first launched a strike is probably the weakest place in the automotive supply chain
Marick Masters, a professor of commerce at Wayne State University in Detroit, said parts factories for pickup trucks and large SUVs may be the first to go on strike. Masters believes:

Unions are trying to put some difficulties on companies and put increasing pressure on them to encourage them to make offers acceptable to ordinary employees and to further meet the demands made by the union.

He said it makes sense for UAW to target the weakest link in the supply chain:

The trade union will seek to close as many parts production facilities as possible. This strategy will force companies to fire assembly workers, who will receive unemployment benefits rather than funds from union strike funds.

Risk warning and disclaimer
The market is risky, and you need to be careful when investing. This article does not constitute personal investment advice, nor does it take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, opinions, or conclusions in this article are appropriate for their particular situation. You invest on this basis at your own risk.
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