How to Hack a $1.3T Market

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Autoworkers strike would test Biden's 'most pro-union president in US history' assertion

By WILL WEISSERT and JOEY CAPPELLETTI
September 13, 2023

LANSING, Mich. (AP) -- The prospect of an auto workers strike could test Joe Biden 's treasured assertion that he's the most pro-union president in U.S. history.

The United Auto Workers is threatening to strike against the nation's big three automakers, General Motors, Ford and Stellantis, if tentative contact agreements aren't reached by 11:59 p.m. on Thursday. That could reshape the political landscape in the battleground state of Michigan and potentially unleash economic shockwaves nationwide.

The auto industry accounts for about 3% of the nation's gross domestic product and as many as 146,000 workers may walk off their jobs. While the effects would be most immediate in Michigan and other states with high concentrations of auto jobs, such as Ohio and Indiana, a prolonged strike could trigger car shortages and layoffs in auto-supply industries and other sectors.

"Anything that goes beyond a week, you're going to start feeling the pain," said Marick Masters, a business professor at Wayne State University in Detroit. "And anything beyond two weeks, that's when the effects start to compound."

Doc Killian, who has worked in a Ford assembly plant in Wayne, Michigan, for 26 years, says he can no longer afford the cars he helps build, crystallizing how the nation's middle class has been squeezed.

"I think the American public as a whole realizes the impact that the American auto workers have on the economy," Killian said. "If we suffer, the American economy suffers."

Biden has built his political career around just such an argument, repeating the mantra that the "middle class built America, and that unions built the middle class." His administration also has championed organized labor and promoted worker organization unabashedly, with Biden frequently proclaiming himself "the most pro-union president in American history."

Still, Shawn Fain, who was elected president of the United Auto Workers in March after promising a more confrontational stance in negotiating with automakers, countered Biden's claim on CNN this week, saying, "I think there's a lot of work to be done in that category."

The UAW chief has also sought to broaden his argument beyond just auto workers. He said on a livestream with union members that the UAW's demands are about "raising the standard for workers everywhere."

"I truly believe that all of America will stand with us in this fight," Fain said.

Biden also must contend with blunt criticism from former President Donald Trump, the early leader in next year's Republican presidential primary, who is now pushing for the UAW to endorse him -- an unlikely prospect, according to union leaders.

Trump posted online that the "once fabled" UAW "will soon go OUT OF BUSINESS" if Biden "is allowed to pull off his ALL ELECTRIC CAR HOAX. China will build them all. ENDORSE TRUMP!" In another post, the former president appealed directly to rank-and-file union members whose support helped him win Michigan in 2016: "Union leadership must decide whether they will stand with Biden and other far-left political cronies in Washington, or whether they will stand with front-line autoworkers and President Trump."

That referenced new federal rules pushed by the Biden administration requiring two-thirds of new passenger cars sold in the United States to be all-electric by 2032. Trump argued those moves would "murder the U.S. auto industry and kill countless union autoworker jobs forever, especially in Michigan and the Midwest."

But some union leaders and members have scoffed at suggestions that the U.S. not embrace efforts to reduce greenhouse gas emissions since manufacturers in China and elsewhere could rush in to produce electric vehicles if the U.S. doesn't. Fain, who has previously applauded the "transition to a clean auto industry" as long as autoworkers "have a place in the new economy," said Trump was "not someone who stands for a good standard of living."

Dave Green, a UAW regional director in Ohio and Indiana, said the former president "carries no credibility in my book" since "he did nothing to support organized labor except lip service."

Green said he still considers Biden the most pro-union president of his lifetime. But he hopes the White House won't stay neutral if there's a strike.

"We don't forget," Green said. "When you're in distress, the people who are there supporting you -- that goes a long way."

Biden faced some criticism from labor groups last year when he urged Congress to approve legislation preventing rail workers from going on strike, fearing an upending of supply chains heading into the holidays. But, unlike with rail and airline workers, the president doesn't have the authority to order autoworkers to stay on the job.

Nowhere will the political fallout of an auto workers strike be felt more than Michigan, which Biden won by nearly 3 percentage points in 2020. The state shifted further during last year's midterms, leaving the governor's office and Legislature Democratic-controlled for the first time in 40 years.

Michigan since became the first state in nearly six decades to repeal "right to work" laws limiting union activity that had been approved by the GOP-controlled Legislature in 2012. Still, a strike could shake up politics statewide.

"The UAW is a major player in Michigan politics and if there is a strike, of whatever duration, it'll have a political impact," said Mark Brewer, former chairman of the Michigan Democratic Party. A strike, Brewer said, would leave Biden having "to speak and act consistent with his previous advocacy for working people."

That might mean alienating other allies, though, since Biden has in the past received support from top U.S. automakers on the administration's rules over future sales. And Ray Curry, the former UAW president who was unseated by Fain, had worked with Biden in the past, even attending White House ceremonies.

Biden was nonetheless anxious to meet Fain given the pair's shared working-class backgrounds, and they sat down together one-on-one in the Oval Office in July. The White House says it has been in regular touch with the UAW since then, and that overall communication is much better now.

"We are engaged regularly with the parties, and of course seek to support negotiations in any way that is helpful," said Michigan native and longtime Democratic and Biden adviser Gene Sperling, who the president tapped as the administration's point person on the autoworker negotiations. "But there is no substitute for the parties staying at the table 24/7 to come to what the president wants to be a win-win agreement."

Union support was instrumental in helping Biden overcome a slow start to clinch the 2020 Democratic presidential nomination, and it helped him win not just Michigan but Wisconsin and Pennsylvania as he defeated Trump in that year's general election.

Underscoring his commitment to organized labor, Biden's lone campaign rally since launching his reelection bid in April came in June in Philadelphia, when more than a dozen of the country's largest and most powerful unions endorsed Biden for a second term.

So many unions banding together for an unprecedented joint endorsement so early in the election cycle was meant as a show of strength for the president. Conspicuously absent from the event, though, was the UAW. Fain has since said that if Biden wants the UAW's 2024 endorsement, he'll have to earn it.

Other union leaders acknowledged what's at stake for the president.

"Are strikes uncomfortable for an administration?" said Randi Weingarten, president of the American Federation of Teachers, which endorsed Biden's reelection this summer. "Of course they are."

But, she said, "The administration believes in workers and believes that workers have the power to have a better life through collective organization and through collective bargaining."

"This is not a soundbite to them," Weingarten said. "This is a belief system."

___

Weissert reported from Washington. Associated Press writer Tom Krisher in Detroit contributed to this report.

Continue Reading...

Popular

U.S. employers likely added 115,000 jobs last month as labor market continues to cool

The steady slowdown in U.S. hiring likely continued in June as President Donald Trump’s trade wars, federal hiring freeze and immigration crackdown weighed on the American job market.

Why hosting a July Fourth pool party may cost less this year

NEW YORK (AP) — Americans have one more reason to celebrate : getting all the gear needed to host a pool party costs less than it has in years, according to a market research company's preliminary data.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

OpenAI Says Tokens Are Not Equity, No Partnership With Robinhood: Musk Says AI Company's Equity 'Is Fake'

OpenAI says the "OpenAI tokens" offered by Robinhood are not OpenAI equity and clarified that it has no partnership or involvement with Robinhood.

A 64% Dividend From Gold? - Ad

Gold is soaring. But here's what no one's talking about: a way to earn a 64% dividend-paid in real cash every 30 days. No trading. No risky mining stocks. Just one simple move in your brokerage account... and you could start collecting monthly income almost instantly.

Cargo ship carrying new vehicles to Mexico sinks in the North Pacific weeks after catching fire

ANCHORAGE, Alaska (AP) — A cargo ship that had been delivering new vehicles to Mexico sank in the North Pacific Ocean, weeks after crew members abandoned ship when they couldn’t extinguish an onboard fire that left the carrier dead in the water.

This Stock Just Popped 30% In 5 Days — Now Expert Says It 'Looks Potentially Explosive'

Experts have been betting on the growth prospects of Oscar Health, as it surged by 16.51% on Wednesday and 32.56% in the last five days.

AI Bloodbath Coming on June 1st? - Ad

If you're invested in AI stocks, you need to see Elon Musk's new invention. A $2.2 trillion shakeup could hit as soon as June 1--crashing giants like Nvidia. Former hedge fund manager Enrique Abeyta reveals how to prepare.

Bernie Sanders Shares First Thing He Would Do As President — And It Could Be A Jab At Elon Musk

Bernie Sanders lost the 2016 and 2020 presidential races. In a recent interview, Sanders shared what he would do first if he were president.

BigBear.ai, AMD, QuantumScape, Coinbase, Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks ended the day on a high note, with the Nasdaq gaining over 1.4% on Tuesday to 19,912.53. The Dow also traded up 1.2% to 43,089.02, while the S&P 500 rose by 1.1% to 6,092.18. These are the top stocks that gained the attention of retail traders and investors throughout the day:

The Summit That Could Reshape Your Crypto Strategy - Ad

Join 27 top crypto experts as they reveal the exact tools and frameworks they use to find winning coins. This 3-day online event is free to attend-but the takeaways could be priceless.

BigBear.ai (BBAI) Stock Soars 21%: What's Going On?

Shares of BigBear.ai are trading sharply higher Tuesday afternoon. The rally comes without any new company-specific announcements.

Denmark tests unmanned robotic sailboat fleet with tensions high in the region

KOGE MARINA, Denmark (AP) — From a distance they look almost like ordinary sailboats, their sails emblazoned with the red-and-white flag .

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

ICE arrests 84 people at Louisiana racetrack

NEW ORLEANS (AP) — The U.S. Immigration and Customs Enforcement arrested 84 people unlawfully in the country during a raid at a southwest Louisiana racetrack, the agency announced Tuesday.

Oracle Launches New Defense Program To Help US Military Tap Into AI And Cloud Tech

Oracle Corp announced the Oracle Defense Ecosystem, a global initiative to enhance technology innovation for defense & government sectors.

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Outrage Mounts Over Trump's Appointment of 22-Year-Old to Terrorism Unit Amid Iran Crisis

In a move that has drawn widespread criticism, President Donald Trump has appointed 22-year-old Thomas Fugate to a critical terrorism-prevention role, amidst rising tensions with Iran.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Trump Extends 50% Steel Tariffs To Home Appliances Like Fridges, Dishwashers Starting June 23

President Trump's administration will extend existing 50% steel tariffs to imported home appliances including refrigerators, dishwashers.

Ford Says Upcoming Budget EV Platform Will Rival Chinese EV Prices: Report

Ford's new affordable EV platform to match Chinese counterparts on cost, offering over 8 body styles and using Prismatic LFP batteries.

Trump Exec Order to Help Restore Wealth for American Citizens? - Ad

Thanks to President Trump's Executive Order 14179, a brief "AI Wealth Window" is opening now. Genius investor James Altucher has released 3 AI wealth-building strategies to take advantage of Trump's genius Executive Order 14179. James believes you could see $10,000 grow to $1 MILLION or more over the next few years.

Cloudflare To Raise $1.75 Billion In Note Offering For Expansion

Cloudflare, Inc. announced pricing of $1.75B convertible senior notes due 2030, option for additional $250M, and intends to use proceeds for corporate purposes.

Elon Musk Has A New Problem: BYD Beats Tesla In Global EV Sales Amid Europe Expansion

BYD has surpassed Tesla in global sales for the first time according to the International Council on Clean Transportation.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

JPMorgan, Bank of America, and TD Bank Warn of Data Breaches Impacting Customer Information, Is Your Account Safe?

Several customers' critical information has been compromised, leading to data breach alerts issued by JPMorgan Chase, Bank of America, and TD Bank.

Death toll in Indian plane crash climbs to 270 as search teams find more bodies

AHMEDABAD, India (AP) — Search and recovery teams continued scouring the site of one of India’s worst aviation disasters for a third day after the Air India flight fell from the sky and killed at least 270 people in Gujarat state, officials said Saturday.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Trump Has 'Already Won' By Dodging Accountability In Fed Showdown, Says Apollo's Jim Zelter

According to Jim Zelter of Apollo Global Management, President Donald Trump has already set the stage for passing the blame.

Beyoncé and Jay-Z dominate Paris as celebrity drives fashion’s biggest trend

PARIS (AP) — If any force swept through the fashion industry this season — and sent shockwaves around the globe — it wasn’t a new silhouette or a daring color. It was the spectacle of celebrity.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Spaniards turn water pistols on visitors in Barcelona and Mallorca to protest mass tourism

BARCELONA, Spain (AP) — Protesters used water pistols against unsuspecting tourists in Barcelona and on the Spanish island of Mallorca on Sunday as demonstrators marched to demand a rethink of an economic model they believe is fueling a and erasing the character of their hometowns.

A 64% Dividend From Gold? - Ad

Gold is soaring. But here's what no one's talking about: a way to earn a 64% dividend-paid in real cash every 30 days. No trading. No risky mining stocks. Just one simple move in your brokerage account... and you could start collecting monthly income almost instantly.

Ken Rogoff Warns AI's Hunger For Power Could Send Interest Rates Soaring: 'You're Going To See Even More Spending, Not Less'

Artificial general intelligence (AGI) may not lead to the deflationary future some investors expect, according to Harvard professor and former IMF Chief Economist Ken Rogoff.

Occidental Petroleum, Exxon Mobil, Chevron Surge In Monday Pre-Market: What's Going On?

Occidental Petroleum Corp (NYSE: OXY), Exxon Mobil Corp (NYSE: XOM) and Chevron Corp (NYSE: CVX) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.

AI Bloodbath Coming on June 1st? - Ad

If you're invested in AI stocks, you need to see Elon Musk's new invention. A $2.2 trillion shakeup could hit as soon as June 1--crashing giants like Nvidia. Former hedge fund manager Enrique Abeyta reveals how to prepare.

Senate Republicans move to slash CFPB funding by half, risking hundreds of job cuts

NEW YORK (AP) — Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is likely to lead to hundreds of job cuts at the nation’s financial watchdog agency.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service