details of Stellantis/UAW/Ford deal, now GM
#3187297
10/29/23 10:41 AM
10/29/23 10:41 AM
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Joined: Jan 2006
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360view
OP
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sample quote The tentative Stellantis agreement, which would still need to be approved by union leaders and ratified by members, is patterned off a 4½-year agreement reached between the union and Ford Motor on Wednesday, sources previously told CNBC. Bloomberg News first reported Saturday the company made additional concessions to the UAW and the union aims to announce a tentative agreement this afternoon that includes a new product for an idled Stellantis assembly plant in Illinois. “Through the power of our Stand Up Strike, we have saved Belvidere,” said UAW Vice President Rich Boyer. “Eight months ago, Stellantis idled Belvidere Assembly Plant, putting 1,200 of our members on the street. From the strength of our strike, we are bringing back those jobs and more.” He added that Stellantis is reopening the plant and the company will also add more than a thousand jobs at a new battery plant in Belvidere. snip... The deal comes after the union reached an agreement on Wednesday with Ford. That agreement still needs to be approved by union leaders and ratified by members. The tentative agreement is expected to end six weeks of targeted labor strikes by the union after the sides failed to reach new deals for 146,000 UAW members before a Sept. 14 deadline. The union called back more than 16,000 striking Ford workers after reaching a tentative deal with the automaker. Ford’s deal included 25% pay increases over the term of the agreement, including an initial increase of 11%. The raises and benefits cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour. It also reinstated cost-of-living adjustments, reduced an eight-year path to top wages to three years and allowed the right to strike over plant closures, among other significantly enhanced benefits. snip... Ford said Thursday that the union’s strike has cost it $1.3 billion and the deal, if ratified by members, would increase labor costs by roughly $850 to $900 per vehicle produced. end quotes from https://www.cnbc.com/2023/10/28/uaw...egotiators-agree-to-terms-of-a-deal.html
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Re: details of Stellantis/UAW /Ford deal
[Re: 360view]
#3187381
10/29/23 02:39 PM
10/29/23 02:39 PM
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Joined: Jan 2003
Posts: 5,349 Planet Earth
RoadRunnerLuva
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master
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Planet Earth
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Makes no difference to me. Can't afford a new Ford OR a new CDJR. They are all priced so ridiculously anymore.
Plymouth Makes It!
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Re: details of Stellantis/UAW /Ford deal
[Re: 360view]
#3187439
10/29/23 05:00 PM
10/29/23 05:00 PM
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Joined: Jan 2006
Posts: 8,162 USA
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OP
Moparts resident spammer
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Raising the price by $900 per vehicle is not going to help sales.
A few days ago local TV ran a story that Ford dealerships were “insisting” new but unsellable EV Ford Lightning pickups be hauled away from their dealership lots.
The two big Ford/Korean SK factories to manufacture 4 volt lithium cells along I-65 are still being constructed and local TV says they are hiring and training employees.
As was posted here on Moparts earlier Toyota claims they have invented a different chemistry for Lithium cells that works better and uses cheaper materials, so I wonder if those Ford & SK plants are already obsolete, or have just a few years. KY and TN have essentially funded those new factories with state money.
A third plant near Memphis is supposed to combine the cells into battery packs - gotta hope the New Madrid earthquake fault stays asleep.
When Carlos Tavares got personally involved things with the UAW did seem to change quickly.
Tavares as a auto racer, from Wikipedia:
Passionate about cars, he already volunteered at the age of 14 to be a track marshal on the Estoril circuit.[29] He has been an amateur racing driver since the age of twenty-two.[4]
In 1983, he started as a driver in rallies and endurance races with his friends Bruno Cébile, as co-driver, and Arnaud Montagné, as technical assistant. He notably participated in the Monte-Carlo Rally and he has his own team Clementeam Racing, by analogy with his daughter's first name.[2]
In 2014, together with Jean-Louis Dauger, Denis Gibaud and Jérôme Maudet, Carlos Tavares won the A2 class of the Barcelona 24 Hours with a Peugeot RCZ Cup operated by Milan Competition.[30]
He also collects classic cars and owns a Peugeot 504 V6 Coupé from 1979, an Alpine A110 from 1976 and a Porsche 912 from 1966.[2]
He is a member of the jury at the Chantilly Arts & Elegance Richard Mille 2017 and 2019, an automobile elegance competition.[31][32]
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Re: details of Stellantis/UAW /Ford deal
[Re: Rhinodart]
#3187451
10/29/23 05:52 PM
10/29/23 05:52 PM
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Joined: Jan 2003
Posts: 20,763 Eagle, Idaho
Neil
The Doctor is in.
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The Doctor is in.
Joined: Jan 2003
Posts: 20,763
Eagle, Idaho
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It's super common for older people here to significantly upsize their homes after their kids move out and borrow against it to fill it up with new vehicles and stuff they would normally not be able to afford. So long as your home value keeps going up it's basically free money is what the bank will tell you. Banks and Credit Unions run radio ads encouraging people to not let that 'free' money just sit there doing nothing, and to buy a new car or camper with it.
Last edited by Neil; 10/29/23 06:06 PM.
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Re: details of Stellantis/UAW /Ford deal
[Re: Neil]
#3187491
10/29/23 09:48 PM
10/29/23 09:48 PM
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Joined: Nov 2003
Posts: 1,120 Rochester NY
Jer
super stock
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super stock
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Rochester NY
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It's super common for older people here to significantly upsize their homes after their kids move out . Not to hijack the thread, but did I misunderstand this? So, a three-bedroom ranch with a bath and powder room when raising the family, but as soon as the kids are gone, upsize to a 5 bedroom 2 1/2 bath home on five acres? That kind of upsize?
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Re: details of Stellantis/UAW /Ford deal
[Re: Jer]
#3187499
10/29/23 10:09 PM
10/29/23 10:09 PM
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Joined: Jan 2003
Posts: 20,763 Eagle, Idaho
Neil
The Doctor is in.
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The Doctor is in.
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Eagle, Idaho
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Into whole different "mature adult" neighborhoods for retired or about to be retired people. Large McMansions with newish everything inside and out. The homes are likely double or more square footage than what you find in the neighborhoods that are close to the elementary schools where people who have kids live, These are the same couples who are always remodeling their kitchens and bathrooms every few years with the latest in-fashion materials looking to boost their home values up.
I met one car guy who had a huge house for he and his wife only with 6 bathrooms. Some of them were half baths, but still. They likely have rooms in their house they don't even use.
Last edited by Neil; 10/29/23 10:10 PM.
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Re: details of Stellantis/UAW /Ford deal
[Re: Neil]
#3187500
10/29/23 10:10 PM
10/29/23 10:10 PM
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Joined: Oct 2005
Posts: 4,961 WI
Dcuda69
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It's super common for older people here to significantly upsize their homes after their kids move out and borrow against it to fill it up with new vehicles and stuff they would normally not be able to afford. So long as your home value keeps going up it's basically free money is what the bank will tell you. Banks and Credit Unions run radio ads encouraging people to not let that 'free' money just sit there doing nothing, and to buy a new car or camper with it. Banks want us in debt.We built our house 35 yrs ago. At that time the bank kept telling us to buy/build more house.....we said no! Our house has served us well, we are still here and it's been paid for for almost 20 yrs. I'm trying to retire in the next year...why in the hell would I borrow against a house I paid off years ago??
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Re: details of Stellantis/UAW /Ford deal
[Re: Dcuda69]
#3187506
10/29/23 10:40 PM
10/29/23 10:40 PM
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Joined: Jan 2003
Posts: 10,759 North Dakota
6PakBee
I Live Here
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I Live Here
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North Dakota
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Banks want us in debt.We built our house 35 yrs ago. At that time the bank kept telling us to buy/build more house.....we said no! Our house has served us well, we are still here and it's been paid for for almost 20 yrs. I'm trying to retire in the next year...why in the hell would I borrow against a house I paid off years ago??
I'm in the same boat. Kids gone, retired, no mortgage....why would I want to walk into the lion's den at my age? Larger house = more maintenance/higher heating cooling costs/higher property taxes....for what?
"We live in a time when intelligent people are being silenced so that stupid people won't be offended".
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Re: details of Stellantis/UAW /Ford deal
[Re: 6PakBee]
#3187512
10/29/23 11:13 PM
10/29/23 11:13 PM
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Joined: Jan 2003
Posts: 20,763 Eagle, Idaho
Neil
The Doctor is in.
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The Doctor is in.
Joined: Jan 2003
Posts: 20,763
Eagle, Idaho
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Traditionally when people get close to retirement they downsize, correct. Some people, however, are not scared of debt and use every bit of it they can get their hands on to keep up with the Joneses. They'd rather _____ die than have their neighbors see them driving past in an 8 year old car.
They likely do have not much in the way of actual savings and their house value and stock market is the lifeline to a better lifestyle. As long as you keep your house in a nice neighborhood and decorated in whatever the latest trends are to make it desirable in the eyes of the appraisers the bank will keep loaning you more and more. People are still doing remodels right now banking on getting their money back out of it right away despite labor and materials being way up due to inflation. Watch those TV remodel shows where they spend x on some part of the house and then the total new value at the end of the show is always raised way up. They make it appear as if everyone can and should do this and there is no downside.
I think this home/asset borrowing is where some people are getting their money to be able to buy a new expensive F-150 etc every few years when most people who don't like being in debt avoid such luxuries.
Last edited by Neil; 10/29/23 11:19 PM.
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Re: details of Stellantis/UAW /Ford deal
[Re: 360view]
#3187989
11/01/23 09:00 AM
11/01/23 09:00 AM
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GM deal with UAW was hung up for awhile about the joint venture battery plant with Korea’s LG and another with Samsung. https://www.freep.com/story/money/c...ontract-negotiations-update/71334972007/sample quote The person familiar with the agreement said the main issue that was holding up a deal centered on how to include Ultium Cells LLC battery plants in a master labor contract between the UAW and GM. Ultium Cells is a joint venture between GM and LG Energy Solution, so the legal language to allow for a master contract was complicated. Ultimately, the agreement with GM is a breakthrough because it will allow for the joint-venture workforce to vote on unionizing future plants and then decide whether they want their own contract or to be part of the master contract. GM already is operating an Ultium Cells plant in northeast Ohio and it is building two more Ultium Cell plants: One in Spring Hill, Tennessee, and the other in Lansing, both expected to start operations within the next two years. GM will start building a fourth battery plant in northern Indiana with South Korean-based Samsung SDI next year and it will open in 2026. ...snip.. The tentative agreement between GM and the UAW will match the financials of the Ford deal, the person said. That includes a 25% wage increase across the life of the 4½-year contract, to expire on April 30, 2028. There is a reinstatement of the 2009 cost-of-living adjustment (COLA) formula, the same profit-sharing formula reached with Ford, a three-year in-progression to the top wage and an end of tier wage scales by the end of the contract. end quote Remember that the initial production of the LG cells from Ultium were faulty and every single one had to be replaced at LG’s expense.
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Re: details of Stellantis/UAW /Ford deal
[Re: 360view]
#3188047
11/01/23 02:03 PM
11/01/23 02:03 PM
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Joined: Jul 2003
Posts: 4,793 Holland MI Ottawa
2boltmain
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Local radio news just reporting that Ford plans to delay “for a couple years” the opening of their new battery plants just off of I-65 in KY and TN. Probably gotta wait for new slave labor to be born- and then reach the age of 4 so they can then work in the mines. EVs are so environmentally and human friendly.
Last edited by 2boltmain; 11/01/23 02:03 PM.
Keep old mopars alive.
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Re: details of Stellantis/UAW /Ford deal
[Re: 2boltmain]
#3188200
11/02/23 08:00 AM
11/02/23 08:00 AM
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Joined: Feb 2007
Posts: 5,482 Michigan
oldjonny
Don't argue with me.
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Don't argue with me.
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Local radio news just reporting that Ford plans to delay “for a couple years” the opening of their new battery plants just off of I-65 in KY and TN. Probably gotta wait for new slave labor to be born- and then reach the age of 4 so they can then work in the mines. EVs are so environmentally and human friendly. Sometimes facts are perceived as being "political". Just sayin'
Never, ever argue with an IDIOT. They will drag you to their level and then beat you with their years of experience
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