Another point the union at CAMI is arguing on is the removal of the two tier system that has caused plenty of issues for workers and management alike. Not sure Gm will give in on this one. One point to consider regarding production is that new weld shop can only produce at a rate of 40 cars per hour but as we all know not ever white body gets to go to paint some are scrapped. We are in need of higher production from the new weld shop to go forward. We contribute greatly to GM's coffers and we need new investment. Time will tell.
GM Cami workers in Canada on strike. Another NAFTA result.
General Motors Co. auto workers went on strike at a Canadian plant for the first time in 21 years over jobs lost to Mexico, with the union’s president calling the situation “the poster child for what’s wrong with Nafta.”
Unifor, which represents about 6,500 GM workers in Canada, said it wanted the Detroit-based automaker to give the plant another vehicle to build in place of the GMC Terrain, which was moved to Mexico earlier this year, costing the plant in Ingersoll, Ontario, 600 jobs. The union has been battling to stop a wave of auto jobs and investment moving to cheaper locations south of the border.
“If you can’t keep your jobs when you have the best plant in the world, then you’ve got a problem,” Jerry Dias, president of Unifor, said in a phone interview. The plant has won several quality awards from J.D. Power and is recognized as one of the most productive plants in the world, the union said.
Under Nafta, Mexico’s light vehicle production more than tripled, from 1.1 million units in 1994 to about 3.5 million units in 2016, according to a report by the Federal Reserve Bank of Chicago. Canada, meanwhile, lost more than 53,000 automotive jobs from 2001 to 2014, according to a study by the Automotive Policy Research Centre.
The company has two plants in Mexico making small SUVs including the Equinox, weakening the union’s bargaining position.
This is the first strike at a Canadian assembly plant since 1996 when Unifor’s forerunner, the Canadian Auto Workers, held a three-week walkout at GM.
U.S. sales of the Equinox jumped 17 percent this year through August, according to researcher Autodata Corp. The model is GM’s second-best seller, behind only the Chevrolet Silverado pickup.
GM Hit With First Canada Strike in Decades on Nafta Losses
Output of top-selling Equinox SUV crimped in Ontario; union wanted another vehicle to replace jobs lost to Mexico
Strike strike strike says GM Canada workers at Equinox plant in Quebec They want better pay more benefits and more spending on improving the assembly line where they work. They will strike Sunday night at 11PM. GM workers are getting strike signs out of the dustbin and are making new ones. Strike strike strike they say.
GM sells 2000 Bolts a month while TSLA model 3 has 500,000 orders where each and every order the customer had to put down a $1,000 deposit. TSLA models drive further on a charge and cost 2,000 less than a Bolt. The Bolt is only 40% made in USA while the model 3 is 100% made and assembled in Arizona. Why can GM not do the same is way beyond me.
TSLA up over 7 dollars today. Just something GM could never do in 8 years. GM could never make it more than 3 points past IPO price of $35.00 GM the union company VS TSLA a nonunion company. Going from IPO price of $25.00 to almost $400 dollars in about the same time frame. I guess one for all UAW does not apply here.one plant against the world.
Canadian just got to have more jingle in their pockets. To hell with everyone they say.Buy some shorts and be happy
I'm not sure whether someone bought 2.7 million shares or someone dumped them but I always post this for my readers Again a large NYSE trade at the 4 PM close 16:00: 6 38.70 2,760,215 NYSE 2 days in a row. jeye
Trump just criticized Iran's, N. Korea's censorship of the web, and right here in America yahoo's chat board censors. Our media censors, our government spies on us (illegally).
Wake up America
You don't have to hate an American company.. GM is nothing different than an industrial company..
If industrial companies are traded with PE of 22.. GM can certainly have PE of 22.
GM is a tech company.
OK - here's an interesting fact about GM share price I learned today.
Over the past 1 year, here's how some key indices performed: DOW - up 22.87% NASDAQ - up 22.96% S&P - up 16.88%
And some GM competitors (that actually matter): Ford - DOWN 4.05% toyoDUH - up 2.61% (and up only 0.44% this calendar year)
Meanwhile, GM shares are up 25.54%. Plus dividends.
Anthony Scott Joslin, thanks for posting your BS. I'm happy it amuses you. It also shows that you had to file bankruptcy because you really are as stupid as your post.
If DLPH can hit 100, GM can hit 100.
New record 23 for drool remarks. One sick pumper idiot!
B R E A K --- O U T.
Make sure you have plenty of shorts when GM strikes A sure bet GM stock which is the highest it has ever been will nose dive like a jet running out of fuel. Like I said GM stock has never closed at 39 since the day of their IPO which was 8 years ago. Somehow every time GM gets close someone throws a monkey wrench at GM and the stock goes DOWN DOWN DOWN.
GM IPO price 8 years ago was $35.00 Pumpers GM is up a whole 3 points in that 8 years while most stocks doubled or tippled. Stocks were at 7000 range and now 8 years later .they are at a all time high. Pumpers so happy and shorter are buying shorts They fail the 39 range 4 times before and when earning come out it will be run for the exits.It will be fun to take their money.
This self-driving Chevy Bolt EV is ready for mass production, CEO says..
GM has everything TSLA has. and profitable. You just have to add TSLA market to GM..
Big buyers coming in
Are we at $34 yet?
Seems like I've posted this before...
Toys R Us filed bankruptcy I missed shorting that one. Still have J C Penny and Sears shorted along with GM