35.49 -0.01 (-0.03%)
After hours: 5:40PM EDT
|Bid||35.44 x 4000|
|Ask||35.73 x 800|
|Day's range||35.26 - 35.56|
|52-week range||30.56 - 41.90|
|Beta (3Y monthly)||1.25|
|PE ratio (TTM)||5.65|
|Earnings date||29 Oct 2019|
|Forward dividend & yield||1.52 (4.27%)|
|1y target est||47.61|
The union representing the 48,000 workers who have been striking General Motors Co for about a month have scheduled a meeting on Thursday to update the leaders of the various union locals from around the country on the status of the talks, several people familiar with the plans said on Monday. The sides have not reached a tentative agreement that would end the strike, but progress has been made and the United Auto Workers leadership will give an update at 10:30 a.m. ET (1430 GMT) on Thursday, said the people, who asked not to be identified because the talks continue. The meeting will take place in the Detroit building where GM is based, the people said.
With the strike by factory workers against General Motors in its 29th day, there are signs that negotiators may be moving toward an agreement. "The fact that they're not name-calling anymore, at least for now, they've stayed a little later at least," said Art Schwartz, a former GM negotiator who now runs a labor consulting business in Ann Arbor, Michigan. Late Monday, the union summoned its General Motors Council, a group of factory-level union officials, to a meeting in Detroit on Thursday.
China, the world’s largest auto market, is faltering like never before. September was the 15th month of annual car sales decline for the company.
The United Auto Workers union said Saturday it will boost strike pay for 48,000 hourly workers at General Motors Co by $25 a week to $275 (218.50 pounds) as a strike against the largest U.S. automaker nears the end of its fourth week. Talks were continuing late Saturday afternoon to try to resolve the longest nationwide strike at GM since 1970, both sides said. The UAW also said it would allow members striking to take on part-time jobs without reducing their strike pay – as long as they perform picket-line duties.
Half a continent away from the auto plants of Detroit, U.S. strikes at General Motors (GM) have sent shivers through the central Mexican city of Silao, where the local GM factory furloughed 6,000 workers last week when parts from the United States ran out. Rich or poor, residents are anxiously hoping the labour dispute will end so the company reopens the plant, which has been an anchor of the local economy since GM arrived a generation ago, transforming the landscape forever. "General Motors is the biggest source of income here.
Dozens of United Auto Workers union members are gathering outside a General Motors facility in suburban Detroit to continue what they call their fight for working-class Americans. Tens of thousands of General Motors union workers have been striking nationwide for nearly four weeks. General Motors millwright Jessica Merz was at Friday's demonstration outside the company's Warren Technical Center.
Tesla is dominating the electronic vehicle market for long but the trade war and frequent controversies have distracted it from its sky-high goals.
While emphasizing GM's commitment to the collective bargaining process, the letter, signed by Gerald Johnson, executive vice-president for global manufacturing, circumvents United Auto Workers (UAW) leadership and points to frustration at a lack of progress on ending a conflict that has already cost the company more than $1 billion (789.5 million pounds). The UAW strike began on Sept. 16, with the union's 48,000 members at GM seeking higher pay, greater job security, a bigger share of profit and protection of healthcare benefits. Credit Suisse estimated the loss could hit about $1.5 billion, and the Center for Automotive Research estimated the weekly costs to GM and the UAW strike fund at $450 million and $12 million, respectively.
Manchester United is searching for a new shirt sponsor amid concerns Chevrolet is preparing to pull the plug on its record endorsement contract with the English Premier League football club following recent poor performances on the pitch. The US car brand signed a $559m seven-year deal with Manchester United, starting in the 2014/15 season, for its logo to be emblazoned on the team’s shirts, in one of the largest ever corporate endorsement agreements in the sport. The club and General Motors, Chevrolet’s parent company, have been in talks for months about renewing the deal after 2022.
The brokerage has assumed the strike by the United Auto Workers (UAW) union, currently in its 26-day, to last until Oct. 21. GM, which likely lost production of about 100,000 vehicles in the third quarter, is at the risk of losing another 170,000 vehicles in the current quarter, the brokerage said, with the impact spreading to some of GM's facilities in Mexico and Canada that receive parts from its U.S. factories. "While investors may look through the one-time impacts...the strike reminds us of the challenge of investing in OEMs at this point in the cycle," analyst Dan Levy wrote in a note.
Zack Bazzi is not seeing workers from a nearby General Motors plant swing through the gas station where he works on Detroit's east side since they went on strike nearly a month ago. As the United Auto Workers strike against the automaker churns through a fourth week , experts say lost wages means less spending. Nationally, 49,000 UAW members have walked off their jobs at GM.
General Motors Chief Executive Mary Barra has stepped into contract talks with striking auto workers, asking the union to wrap up outstanding issues and respond to a company offer made this week. Details of the Wednesday meeting between Barra and top union bargainers were disclosed in the letter, which was obtained by The Associated Press. It's an indication that there won't be a quick end to the nearly monthlong strike by 49,000 workers that has halted production at all of GM's U.S. factories.
General Motors Co late on Thursday urged the United Auto Workers union to agree to around-the-clock bargaining to try to resolve a 25-day U.S. strike that has cost the company more than $1 billion in profits, according to a letter seen by Reuters. The UAW said in a letter earlier on Thursday that work to resolve issues by five committees must be completed first before it will make a comprehensive counterproposal. "We should engage in bargaining over all issues around-the-clock to get an agreement," wrote GM Vice President Scott Sandefur in the Thursday letter to the UAW.
WASHINGTON/DETROIT (Reuters) - General Motors and the United Auto Workers (UAW) union clashed late Thursday over how to end a 25-day strike that has cost the company over $1 billion, according to letters seen by Reuters. GM urged the UAW to agree to around-the-clock negotiations to try reach a deal, while the union insisted on dealing with five specific issues first before it responded to a broader proposal from the company. The UAW began strike action on Sept. 16, with the union's 48,000 members seeking higher pay, greater job security, a bigger share of the automaker's profit and protection of healthcare benefits.
Waving a placard on the picket line outside a General Motors Co truck plant in Flint, Michigan, Robert Bacon says he has no money to spend. Up the road, bartender Jeanne Bonner made just $2 in tips one day last week, compared with $80 during a normal shift. "We've thrived off GM for years," Bonner said.
While AutoZone (AZO) cheers investors with an additional buyback of $1.25 billion, Tesla (TSLA) delivers a record 97,000 vehicles globally in Q3 but still falls short of Musk's target of 100,000.
Alphabet’s (GOOGL) self-driving car arm, Waymo, has informed its members who opted for the service that their next ride could be driverless.
Ford stock has gained about 12% year-to-date as of October 8. It's been on a downtrend, however, since it released its second-quarter earnings results.