OEMs
UAW Counteroffer to Ford Could Soon Lead to Deal: Report
Written by Laura Miller
October 25, 2023
The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.
The union has reportedly presented Ford with a counteroffer, according to an Oct. 25 AP News article citing two anonymous sources familiar with the matter.
The article says the offer proposes a 25% general wage increase, compared to previous 23% offers from Ford, General Motors, and Stellantis. It also includes cost-of-living adjustments (COLA), the sources said.
Once a tentative agreement is reached with one of the Detroit-area “Big Three,” it will likely set the precedent for agreements with the other automakers, according to the article.
“Negotiations continue,” a Ford spokesman told SMU in an email.
At the time of this article’s publication, the UAW had returned SMU’s request for comment.
Earlier this week, the UAW expanded its stand-up strike, hitting the largest plants of GM and Stellantis. It last expanded the strike against Ford unexpectedly on the evening of Wednesday, Oct. 11, with members striking at Ford’s Kentucky Truck Plant – Ford’s largest one of the biggest auto factories in the world.
Laura Miller
Read more from Laura MillerLatest in OEMs
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
Metalformers slightly more optimistic heading into 2025
Most expect activity to hold steady or increase over the next three months.
Metalformers see activity improving or steady in coming months
About 23% of respondents expect an uptick in economic activity in the next three months. That’s an increase over the 13% in October.
Galvanized tags predicted to be flat into final stretch of 2024: HARDI
Domestic galvanized prices remain relatively rangebound despite the conclusion of the US presidential election.
HVAC shipments slip in September but are still trending higher
Following a strong August, total heating and cooling equipment shipments eased in September to a five-month low, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).