Welcome back, scholars. I received plenty of emails over the last month checking in but I did it on purpose, I took 5 out of the 6 week strike off to examine & evaluate the economic and political climate of UAW & even more importantly, the city of Detroit. In Vegas as I create this now let's get into the story:
Jeep maker Stellantis reached a tentative contract agreement with the United Auto Workers union on Saturday, sources confirmed to Click On 4 Detroit. The deal will still need to be ratified by members. The agreement could end a six-week strike by more than 14,000 workers at Stellantis assembly plants in Michigan and Ohio and parts warehouses across the country. The strikers are expected to take down their picket lines and start returning to work in the coming days, before union members vote on the agreement.
Now, here's my inference. The Auto Workers in the Midwest have rallied heavily but this is where the problem lies, the GM World Headquarters in Detroit now is in hot water. Still hesitant to release a deal. I think all deals will work out fine with the other companies but I blame someone more than GM, the United States Government. America has issues with minding our own business, I'd know from MARSOC experience. Israel & Palestine is not our fight especially mind you the Rwanda is slaughtering the Congo and it doesn't nearly get as much attention, that's why I say as black people, we need to stand back and stand by.
Now here's details from the UAW regarding the agreement with Stellantis and Ford:
The agreement grants 25% in base wage increases through April 2028, and will cumulatively raise the top wage by 33% compounded with estimated COLA to over $42 an hour. The starting wage will increase by 67% compounded with estimated COLA, to over $30 an hour. The lowest-paid workers at Stellantis, temporary workers, will see a raise of more than 165% over the life of the agreement. Some workers at Mopar will receive an immediate 76% increase upon ratification. The agreement reinstates major benefits lost during the Great Recession, including Cost-of-Living Allowances and a three-year Wage Progression, as well as killing divisive wage tiers in the union. It improves retirement for current retirees, those workers with pensions, and those who have 401(k) plans. Like the Ford agreement, the Stellantis deal includes a right to strike over plant closures. It also includes a right to strike over product and investment commitments, a historic first for the union.
I'm beyond proud! This is the heart of a blue-collar midwesterner. Valiant, Hard Working & Courageous and another reason why the South will lose because they're getting underpaid with the Republican Regime down there but the Far-Right won't tell you that. As far as UAW goes, Shawn Fain made a master chess move and delivered a hard-fought lengthy win for the Middle Class now all GM needs to do is reach an agreement and this agreement helps American Ingenuity stay alive. Do it for the Working Class. Do it for Detroit. Do it for the Midwest.
All my viewers need to be knowledgeable on this market and get educated & hold stocks in automotive, AI, defense & healthcare.
Thank you for viewing!
