Energy: The UAW Strikes Against GM -- What It Means for Investors
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 19 September 2019
⏱️ 18 minutes
🧾️ Download transcript
Summary
On Monday, the United Auto Workers (UAW) announced a nationwide strike against General Motors (GM), the first nationwide strike from the union since 2007. This strike occurs at an interesting time for the industry, with automakers having enjoyed a period of strong profits during the recovery from the global financial crisis but facing significant upcoming investments in electric and autonomous vehicles as well as a slowing global automotive market. These conditions appear like the perfect recipe for what could be a prolonged strike. Motley Fool Senior Automotive Analyst John Rosevear joins the show to break down what we know about the strikes so far and what it means for the industry. Listen to the end for updates on the merger talks between Renault and Fiat-Chrysler and the latest EV announcements from European automakers.
Stocks Mentioned: GM, F, FCAU, VWAGY, DMLRY, POAHY, HMC
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Transcript
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| 0:00.0 | Welcome to Industry Focus, the podcast that dives into a different sector of the stock market every day. |
| 0:07.0 | Today is Thursday, September 19th, and we're discussing the ongoing UAW strike against General Motors. |
| 0:12.0 | I'm your host Nick Saipoll, and today I'm joined by Motley Fool Senior Automotive. you're going UAW strike against General Motors. |
| 0:12.8 | I'm your host Nick Saipoll, |
| 0:13.6 | and today I'm joined by Motley Fool's |
| 0:14.6 | senior auto analyst John Roosevelt via Skype. |
| 0:16.5 | How's it going John? |
| 0:17.8 | It's going well, Nick. |
| 0:18.5 | How are you? |
| 0:19.3 | I am doing great. |
| 0:20.3 | You know, it's been a while since we've had you on the show. |
| 0:22.4 | There's been a lot of news in the auto industry since then, but the biggest news today I think it is the ongoing UAW strike against General Motors. So at midnight on Monday, the UAW went on strike, sending 46,000 workers to picket lines |
| 0:36.2 | at GM properties across the country. |
| 0:38.9 | And this is the first nationwide strike by the UAW since 2007. |
| 0:42.4 | So with this being a nationwide strike how significant |
| 0:45.1 | is that for the auto industry? It's a big deal. I mean the way this works is the UAW does these contracts |
| 0:52.1 | that last four years. |
| 0:54.4 | And then the contracts come up for renewal |
| 0:56.3 | and it's often a lot of tension in the destroyed area |
| 0:59.1 | and so forth. |
| 1:01.7 | What the UAW does is pick one company, one of the three automakers, GM Ford Fiat Chrysler, |
| 1:08.0 | to try and strike a deal with and then they use that deal as the pattern, the pattern agreement, that's the term they use, |
... |
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