Sanrith Descartes
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Investing General Discussion
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Blazin
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calling things as I see them, things shifting under the surface.
A pullback to 200d on SPY/QQQ could be interesting if it happens IWM will test Oct Lows
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Palum
what Suineg set it to
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Their demands are ludicrous. Surely this only helps Tesla etc.?
I suddenly want to work in the auto industry
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Mist
REEEEeyore
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Big Phoenix
Pronouns: zie/zhem/zer
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Mist
REEEEeyore
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Blazin
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I didn't have coffee until almost 7 pretty confident that is what did it
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Big Phoenix
Pronouns: zie/zhem/zer
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Pancakes have always been pretty mid, french toast is the way to go.
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Break
Golden Baronet of the Realm
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Just a guess, but they've had high inventories due to slow sales from high interest rates and as the gubmint devaluing the dollar.
Short term, their sales will definitely spike as people suddenly realize they better grab a new car while they can even if they have to cut spending or go deeper in cc debt because they might all be gone soon.
If they resolve the strike quickly it might even end up in their favor if they sell a lot of inventory and condition consumers to just go into debt more and then the whole auto industry might profit.
Or I have no clue, tbh
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Daidraco
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With an industry thats already learned that it can make record profits by just shutting down for a while, I cant really see how the UAW union thinks they have enough bargaining power to demand these things? Im thinking a well organized shut down with a stockpile of materials would just allow them time to hire new employees, train them, and when the pipeline is in full swing again - enjoy even greater profits. Not only from auto sales going back to a state of high demand, low supply, as the drop in supply couldnt be made up by competitors in a timely manner as it is. But also, a new group of employees that arent near as well off as the current ones. People will drop everything and travel across the country to get those jobs in this economy. Will not matter if theyre in the US, Mexico or Canada.
Tmac
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Don’t underestimate the desire of globohomo to bankrupt America and move everything overseas.
Mist
REEEEeyore
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That's just private equity actually. And they've been doing it for over 30 years. And they're mostly super conservative.
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Lambourne
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Auto industry is in definite threat of being priced out of the market by China. Don't think I ever saw a Chinese car on the road until 5 years ago and now they're everywhere. EU has already been making protectionist noises over it.
www.france24.com
EU confronts Chinese subsidies with electric car probe
Brussels will investigate Chinese state subsidies for electric cars, the EU chief said Wednesday, vowing to defend Europe's industry from unfair competition.
www.france24.com
Furry
🌭🍔🇺🇦✌️SLAVA UKRAINI!✌️🇺🇦🍔🌭
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Their demands are ludicrous. Surely this only helps Tesla etc.?
If I had to downgrade to those benefits I'd be upset.
Fucker
Log Wizard
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A lengthy strike will give GM and Ford all the reasons they need to expand Chinese production of vehicles for the US market. GM already has a partnership with SAIC, and Ford with Changan. Further, these partnerships have been building global platforms for a while now, so it is no effort at all to replace all the US made GM and Ford vehicles with platforms already in production.
For large SUV and truck production, GM and Ford can simply expand their operations in Canada and Mexico, and eventually just Mexico while curtailing production in the US.
UAW is playing chicken, and they are going to lose. US is now a distant player in the global car market, and its workers have never had less value to the well being of the company.
I'm normally ambivalent towards UAW, but their demands this go around are simply laughable. 40% raise over 4 years, 32 hour work weeks...the list goes on. UAW had 1.5 million members in the 80's to what, 300k now? This strike will hasten the outsourcing of entire vehicles to other countries and lead to more plant closures and other peripheral closures.
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Sanrith Descartes
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Biden/Obama administration will step in and force GM/Ford to accept.
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Scoresby
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I agree, it's likely much of the labor content will go to lower cost countries. The other issue that arises is that even if a percentage of the vehicle remains in the US, the higher labor cost will make automation more lucrative. It's a suicidal strategy on the UAWs part.
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Furry
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As someone who works with cargo, and has dealt with a depressing increase in car parts going to detroit through my airport that started 2 years ago and hasn't gone down, good. I hope it burns to the ground. They pack their cargo all gay and it tends to break things more than other stuff, and I hate filling out reports to fix things. Their supply lines are definitely still a total mess.
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Tmac
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It's OK.. they have a plan...
Auto CEOs Struggling With Whether To Replace Striking Workers With Robots Or Mexicans
DETROIT, MI — With UAW workers officially on strike to demand a 4-day, 32-hour work week, leadership with the Big Three automakers are reportedly struggling with whether to replace the union workers with robots or Mexicans.
babylonbee.com
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