Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, September 8th, and I'm your host Julie Morgan.

GM and Ford Fall after the UAW pushes back on offers.

Analysts say the issue regarding Apple's iPhone use in China by government agencies

is way overblown. the SEC is investigating Ryan

Cohen's Bed Bath and Beyond Trades. The United Auto Workers set an offer by

General Motors fell far short of its demands.

Union President Sean Fain called the offer insulting and did not back off of threatening to have the union strike

against one or more automakers after the current

contract expires on September 14th that's less than a week away.

General Motors said in a letter to workers that it's offering a 10% wage increase during a new four-year

contract plus two more 3% one-time payments.

GM is also offering a $6,000 inflation payment, $5,000 more in lump sums to protect against inflation

during the contract, and a $5,000 contract ratification bonus.

GM said the pay raises would be the biggest since 1999.

The wage offer is slightly better than one from Ford that was rejected by the union last week,

but relied on lump sum payments

instead of the annual pay increases the UAW wants.

The major union demands are for 46%

across-the-board pay raises over four years, a 32-hour week with 40 hours of pay and pension benefits for new hires.

The UAW is expected to make another offer in response to Ford's proposal.

Meanwhile, Stelantis promised it would have a counter-proposal by the end of the week.

...