Welcome back, scholars. As a Michigander who campaigns for & hires the Working Class, the UAW strike has been an essential topic. I was there on 17 Mile in Sterling Heights, Michigan to rally with those workers. Let's get into this. The United Auto Workers (UAW) union has been on strike against General Motors, Ford Motor, and Stellantis, demanding higher pay, better working conditions, and a more secure retirement. The strike has affected 13 Michigan plants, with approximately 5,600 workers on the picket line. The UAW strike is the latest in a series of strikes by workers, and it has implications for Michigan, where the auto industry is a significant employer. The strike has caused layoffs at the plant's body construction department and south sub-assembly area of integrated. The cost of a car could go up whether there's a strike causing less supply, or a higher negotiated wage trickling down to the consumer. President Joe Biden visited a picket line in Michigan following a public invitation from UAW President Shawn Fain, and former President Donald Trump is scheduled to hold a rally at an auto supplier in Clinton Township, Michigan. Biden is the first sitting president to join a picket line as he joined UAW members on strike in Michigan. Let's get with the Q&A.
What are the workers demands?
The United Auto Workers (UAW) union has been on strike against General Motors, Ford Motor, and Stellantis, demanding higher pay, better working conditions, and a more secure retirement. The UAW's contract demands include:
- Pay increases and cost of living adjustments: The UAW is asking for a 40% pay increase over the next four years, with a 46% increase when compounded[2]. The union also seeks cost of living adjustments pegged to inflation.
- Job or pay guarantees: The UAW is pushing for job security measures that would protect workers from layoffs or pay cuts.
- End to lower wages for lower seniority workers: The union wants to eliminate the two-tier wage system, which pays newer workers less than their more senior counterparts.
- Defined benefit pensions: The UAW is advocating for the preservation of traditional pension plans, which provide a fixed monthly payment to retirees based on their years of service and salary.
- Compensation for workers making batteries for electric vehicles: One of the key issues in the negotiations is the pay and benefits for workers involved in the production of electric vehicle batteries.
The UAW's demands have been met with resistance from the automakers, who argue that the proposed wage and benefits increases would put them at a competitive disadvantage, especially as the industry transitions to electric vehicles. The strike has entered its third week, with tensions rising and the likelihood of an imminent breakthrough diminishing.
How does this impact the stock market?
The United Auto Workers (UAW) strike has had a significant impact on the stock market, particularly for the automakers involved. Here's how the strike has affected stock:
- Downward pressure on stock prices: The UAW strike has put downward pressure on the stock prices of General Motors, Ford Motor, and Stellantis. The uncertainty and potential for increased labor costs have led some investors to rethink their positions, with some even willing to forgo share buybacks in favor of resolving the labor dispute.
- Potential investment opportunities: Despite the negative impact on stock prices, some on Wall Street see the UAW strikes as manageable and even as potential investment opportunities. They believe that the potential strikes are already factored into the stocks, and the Detroit automakers can handle the work stoppages and expected labor cost increases.
- Ripple effects on the broader economy: The UAW strike could have ripple effects across the economy, depending on its size and duration. While the potential impact on the stock market is significant, the overall impact on the U.S. economy may be limited, as GM, Ford, and Stellantis vehicles only account for 40% of the U.S. auto market.
- Higher car prices and reduced selection: If the UAW strike drags on, it could drive up car prices and reduce selection for consumers, as the automakers' production and supply chains are disrupted. This could have a more direct impact on the stock market, as consumers may be less inclined to purchase vehicles from the affected automakers.
- Difficulty in repairs and maintenance: The UAW strike has also led to difficulties in repairs and maintenance at GM and Stellantis dealerships, as the strikes have shut down parts manufacturing and distribution facilities. This could further impact consumer sentiment and potentially lead to a decline in stock prices for the affected automakers.
To wrap it up, here's my stance. If we in the United States of America can have enough money to support Ukrainians and illegal aliens south of the border. Give them fake identities, house them and take care of them which is something that black immigrants should've deserved or the fact that we hesistate to cut reparations, dismantle fossil fuels, put the Keystone Pipeline in jeopardy but fuel a Nazi Regime as well and refuse to wage war on the cartel. Pay these workers who haven't been compensated. In Michigan, plant workers were buying boats, homes, property and owning equity which went further until 2008 which workers now get paid as long as $21-$22 a hour which is low and in Southern places making $12-$13 a hour which is ham and egger pay. Peak out with this technology, put AI at a stunt, it's growth is good enough and get industrial real estate back efficient. We need American, Midwestern Men picking these honeydews, watermelons, cherries, oranges, corn in Nebraska, Ohio, Michigan, Minnesota etc. We need to produce our cars here. Ban EV, keep meat here. It's hunting season again. We need butchers, not plant-based meat which comes from a plant factory rather than being a plant. American Ingenuity & Agriculture is what we need to innovate and keep a reasonable economy. Back the Dollar back based on Gold & Oil. Remove BRICS, keep Crypto underground and as a portfolio investment. We need these socks to be made, plates to be made, pencils to be made. Capitalism isn't the issue. Corporate Greed is.
Now, let's cover the Sag-Aftra strike here in Hollywood.
The SAG-AFTRA strike is an ongoing labor dispute between the American actors' union SAG-AFTRA (Screen Actors Guild - American Federation of Television and Radio Artists) and the Alliance of Motion Picture and Television Producers (AMPTP). The strike began on July 14, 2023, and is the first time actors have initiated a labor dispute in the U.S. since the 1980 actors strike. It is also the first time actors and writers have walked out simultaneously since 1960.
The main cause of the strike is the studios and streamers' implementation of massive unilateral changes in the entertainment industry's business model, while insisting on keeping the actors' contracts frozen in amber. SAG-AFTRA is demanding fair pay from streaming platforms, high-profile studios, and production companies, as well as protections and benefits that reflect the new digital and streaming business model.
The strike has had significant consequences for the entertainment industry, with nearly all movie and television production featuring live performers coming to a halt. Actors are also not allowed to take part in any press or promotional events, such as junkets or red-carpet premieres. The work stoppage has been felt primarily in Los Angeles and New York City, the main locations for the American film and television industry.
The SAG-AFTRA strike has been characterized by solidarity among various unions in the entertainment industry. The Writers Guild of America (WGA) has been on strike since May, and the two unions' simultaneous work stoppages have contributed to the biggest interruption to the American film and television industry in recent history.
Here's my stance, the Hollywood strike is this evident due to the lack of quality in movies. It's been overly political for too long and an overly political society makes a politically incorrect society and PI is good on the surface but horrible as it gets deeper because racism rises but just like with music, the quality is lazy. Movies used to have a storyline now it's just a clusterfuck of nothingness. You can see a good sex scene before you get a good storyline. It's always overdone or mostly never got to the point and the fact that most movies have a happy ending makes it worse. It should be a gamble. The storyline should be suspenseful and back & forth while letting the protagonist lead the show and be the Quarterback of the movie. The lack of intellect by Hollywood creators is why this strike is so eminent so expect these celebrities to take over the podcasting game which then takes food of the plates of grassroot podcasters who made this an art. Celebrities in media have ruined the film industry now podcasting is next and instead of podcasters wanting to collaborate, they should oppose it.
This is my thoughts, this is Shabazz Farrakhan. Contact me for business inquiries at shabazzfarrakhanuniversity@blogspot.com. Thank you for viewing!