GM - General Motors Company

NYSE - NYSE Delayed Price. Currency in USD
-0.41 (-1.09%)
At close: 4:01PM EDT
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Previous Close37.78
Bid37.25 x 2200
Ask37.37 x 1200
Day's Range37.29 - 38.07
52 Week Range30.56 - 41.90
Avg. Volume7,609,233
Market Cap53.354B
Beta (3Y Monthly)1.25
PE Ratio (TTM)5.95
EPS (TTM)6.28
Earnings DateOct 29, 2019
Forward Dividend & Yield1.52 (4.02%)
Ex-Dividend Date2019-09-05
1y Target Est48.17
Trade prices are not sourced from all markets
  • Thousands more auto workers furloughed amid UAW strike
    Yahoo Finance Video

    Thousands more auto workers furloughed amid UAW strike

    A top UAW official says "some progress has been made" in talks with General Motors. This as Canadian trade union Unifor says roughly 4,500 members have been temporarily laid off as a result of the strikes. Yahoo Finance's Akiko Fujita and Brian Cheung discuss.

  • GM, UAW see 'progress' in talks as strike affects supply chain
    Yahoo Finance Video

    GM, UAW see 'progress' in talks as strike affects supply chain

    The General Motors union workers' strike has now entered its fifth day as 46,000 employees fight for increased protections for temporary workers and better pay and benefits. Suppliers to the car maker are also feeling the strain from the halt in production.

  • GM supply chain seeing effects of UAW strike
    Yahoo Finance Video

    GM supply chain seeing effects of UAW strike

    The manufacturers that supply GM's plants are forced to sit idle while vehicle production is halted as the automaker and the nearly 46,000 striking workers have yet to reach a deal. However, the UAW VP did tell union workers Thursday that there has been, ‘some progress’. Yahoo Finance's Rick Newman joins Brian Sozzi and Alexis Chirstoforous on The First Trade to discuss.

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    How Ford Makes Money

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    What Makes Tesla's Business Model Different?

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  • In Strike at GM, Old Grievances Get Retooled for a New Era

    In Strike at GM, Old Grievances Get Retooled for a New Era

    (Bloomberg) -- As the United Auto Workers strike against General Motors Co. nears a second week, the issues in dispute are similar to those that sparked strikes in the past: health care, wages and the company’s commitment to invest in U.S. facilities. The conflicts stretch all the way back to Dec. 30, 1936, when GM employees — led by UAW Local 174 President Walter Reuther — stopped production at plants in Flint, Michigan, and Cleveland. They were protesting low wages and conditions that included 12- to 14-hour shifts, six days a week, often in oppressive heat on fast-moving assembly lines. But instead of walking out, they sat down in the factories, and there they stayed for 44 days.In the ensuing eight decades, there would be dozens of contract negotiations, concessions on both sides and strikes — including the current one that’s sent 46,000 GM workers to the picket lines for the first time in 12 years. Here’s a look back at some of the actions that set precedents in the past.1937: On Feb. 11, 1937, the sit-down strikes end as GM becomes the first of Detroit’s Big Three automakers to recognize the UAW as the representative of its manufacturing employees. The first contract provides higher wages and improved conditions in the plants. Chrysler also recognizes the UAW after a sit-down strike at its Detroit plants.May 1937: Trying to organize workers at Ford Motor Co., Reuther and other UAW supporters pass out leaflets on a pedestrian bridge leading to the company’s River Rouge complex in Dearborn, Michigan. Ford security men attack and beat them in a confrontation that becomes known as the Battle of the Overpass. Pictures of the attack by a Detroit News photographer, who smuggles them past the security guards, help spur support for the union, but Henry Ford balks at recognition.April 1941: A strike at the River Rouge plant halts operations for 10 days. Henry Ford's wife, Clara, helps persuade him to negotiate with the UAW, and the first contract is signed in June.1945-46: Reuther, now a UAW vice president and head of the GM Department, wants a 30% pay increase to help workers in the aftermath of World War II. He also wants GM to implement the raise without increasing vehicle prices. The company says no, so Reuther demands that it “open its books” to show it can afford both. GM refuses again and offers the equivalent of a 10% raise, with higher prices. The union rejects the offer and on Nov. 21, 1945, begins what will be a 113-day national strike. President Harry Truman appoints a board to make recommendations based on postwar wage-price policy; the panel says GM can boost pay by 19.5 cents an hour, or about 17.5%, without raising prices.Ultimately, the company and union agree on an 18.5 cent-a-hour increase. While this is well below Reuther’s 30%, the negotiations are “extraordinarily significant,” says Harley Shaiken, currently a labor professor at the University of California, Berkeley, because Reuther puts GM on the defensive and “captures the imagination of the public,” setting the stage for more favorable contracts in 1948 and 1950.1946: UAW members elect Reuther to be the fourth president of the union.1948-50: In 1948, GM agrees to increase wages, with future adjustments based on changes in the government’s consumer price index and in national productivity — a deal the New York Times says may set a “pattern for the industry.” A year later, Ford becomes the first U.S. automaker to negotiate a pension plan with the UAW as part of a 30-month contract: $100 a month for each eligible worker. Ford agrees to pay the cost and to administer the plan jointly with the union. Chrysler agrees to the $100 benefit during contract talks but refuses to pay for it until after a strike in 1950 that lasts about 100 days.The Chrysler agreement covers three years; GM and the UAW will later negotiate a five-year pact that includes a pension plan, along with new and improved medical and other benefits. The provisions in what will be known as the Treaty of Detroit do set the tone for industry contracts for the next 30 years.1970: Reuther dies in an airplane crash on May 9, and Leonard Woodcock becomes the fifth UAW president. In September, he leads a strike against GM that lasts for 67 days, stopping production across the automaker’s facilities. The final contract includes higher wages, a plan that allows workers to retire with a pension after 30 years and payment of drug and Medicare costs for retirees. 1977: Douglas Fraser becomes the last of the UAW's founding fathers to serve as president.1979: UAW membership begins to decline after peaking at around 1.5 million in the 1970s.1979-81: Fraser leads negotiations with Chrysler on wage and benefit concessions that — along with loan guarantees from the U.S. government and help from lenders, dealers and suppliers — allow the automaker to avert bankruptcy, “We went to the membership for ratification three times in 13 months, and each contract was worse than the previous one,’’ Fraser said in a 2001 BusinessWeek interview. “We really didn't know if [Chrysler] was going to survive.”Ford and GM also will ask for concessions in the 1980s, as Japanese auto companies take an increasing share of U.S. car sales and the UAW’s focus in contract negotiations shifts to job security. Meanwhile, the UAW organizes a new Volkswagen assembly plant in Westmoreland, Pennsylvania, that produces small cars. (Slowing sales will cause Volkswagen to close the factory in 1988.)1982: Honda Motor Co. opens the first Japanese-owned auto plant in the U.S. to build Accord cars. The UAW reaches an agreement with management that the company will remain neutral on a possible unionization vote at the Marysville, Ohio, factory.1983: Owen Bieber becomes the seventh UAW president and seeks more labor-management cooperation with the Big Three.1985-86: The Canadian branch of the UAW secedes from the parent union in anger over concessions to GM, Ford and Chrysler. The UAW withdraws its National Labor Relations petition for a unionization vote at Honda's Ohio plant.1995: Stephen Yokich, a strike leader whose mother famously pushed his stroller on a picket line when he was 22 months old, becomes the eighth UAW president.1998: As the auto industry becomes increasingly global, and companies seek to better manage parts inventories to contain costs, more than 9,000 workers strike a GM metal-stamping plant and a parts-supply facility in Flint, Michigan. The ripple effect of the more-than-50-day work stoppage eventually halts output across the automaker's North American operations, cutting $1.2 billion from GM’s profits, the company says in reporting third-quarter results.  2002: Ron Gettelfinger is elected the ninth UAW president.2005-11: Turmoil roils the industry: the Great Recession, soaring gasoline prices, car sales near a 30-year low, plant closings, layoffs, bankruptcies and government bailouts at GM and Chrysler, along with a drastic restructuring at Ford. The 2007 contracts create a two-tier wage system that pays new hires about half what more senior employees earn and shifts billions of dollars in retiree health-care obligations from the auto companies to union-run funds. In 2011 negotiations, Bob King, elected the UAW’s 10th president the previous year, says workers must be rewarded for the $7,000 to $30,000 each gave up since 2005 in surrendering raises, bonuses and cost-of-living adjustments, along with other concessions. The final agreements provide signing and additional bonuses, higher hourly pay for entry-level employees and other benefits. GM, Ford and Chrysler (now majority-owned by Fiat SpA) commit to adding jobs and investing in American plants. “We made important gains for our members,” King says after GM workers approve their contract.2014-15: Dennis Williams is elected the 11th president in 2014. In 2015, some rank-and-file members criticize him for accepting a bear hug from Fiat Chrysler Chief Executive Officer Sergio Marchionne at an event to kick off contract talks. Workers overwhelmingly vote down the initial deal Williams signs off on with the automaker — the first such rejection of a national proposal since 1982, according to the Detroit Free Press. Members later approve an agreement that includes greater concessions from the company, including a path to senior-level pay for entry-level workers.2018: Gary Jones becomes the 12th UAW president in June 2018. In August 2019, FBI agents raid his home and the home of Williams, his predecessor, as part of an investigation into corruption involving the union related to illegal use of training-center funds. A UAW spokesman has called the search unwarranted and said the union is cooperating with the investigation. Sept. 16, 2019: Some 46,000 UAW workers strike GM over issues that include health-care benefits, use of temporary workers, the tiered pay scale and investment in American operations. Sources: Bloomberg News, UAW archives, contemporary news reports, Bloomberg Law, Walter P. Reuther Library at Wayne State University\--With assistance from Chester Dawson.To contact the authors of this story: Melinda Grenier in New York at mgrenier1@bloomberg.netEugene Reznik in New York at ereznik5@bloomberg.netTo contact the editor responsible for this story: Craig Trudell at, Peter HallFor more articles like this, please visit us at©2019 Bloomberg L.P.


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  • Warren, Sanders to visit striking GM workers as dispute continues

    Warren, Sanders to visit striking GM workers as dispute continues

    Two major Democratic presidential candidates plan to visit striking General Motors workers in Detroit in the coming days as a five-day-old labor dispute threatens to enter its second week. Senator Elizabeth Warren will join workers on the picket line outside GM's Detroit-Hamtramck plant on Sunday, while Senator Bernie Sanders will do the same on Wednesday. GM has received harsh criticism from Democrats for shifting health insurance costs for its striking workers union as its members walked the picket line for the second day on Tuesday.

  • Stock Market Resilient Amid Soaring Crude Oil Prices, Fed Rate Cut, China Trade News; Microsoft, Adobe, FedEx, GM, Roku In Focus: Weekly Review
    Investor's Business Daily

    Stock Market Resilient Amid Soaring Crude Oil Prices, Fed Rate Cut, China Trade News; Microsoft, Adobe, FedEx, GM, Roku In Focus: Weekly Review

    The stock market lost some ground amid soaring crude oil prices, Fed policy moves and China trade headwinds.

  • Bloomberg

    GM’s Offer of a Lifeline for Lordstown Had a Catch: Lower Pay

    (Bloomberg) -- When General Motors Co. made a deadline-day offer for a new labor contract to the United Auto Workers last week, it came with a gift. The company was prepared to build batteries in an Ohio town that’s been sweating the prospect that half a century of car-making will come to an end.But there was a catch. GM and an as-yet-unnamed battery supplier for its next-generation electric vehicles would offer wages similar to what the automaker pays non-assembly workers who top out at $17 an hour, according to people familiar with the proposal. Senior-level plant staff make roughly $30 an hour. The shortfall is one of several reasons the union rejected GM and went on strike.For the UAW, who builds electric vehicles and how much they earn is an existential issue. Negotiators are already trying to get a better deal for temporary and less-tenured workers who don’t make the top assembly wage -- part of a tiered-pay system set up to rebuild union ranks in the wake of the recession. If it caves to GM again, the UAW fears it will be chasing wages for a generation.Read more: In Strike at GM, Old Grievances Get Retooled for a New EraThere are also grave concerns with essentially incentivizing GM to plow money into plants making battery cells and packs -- which may require less labor and likely use more non-union sub-assembly components -- at the expense of unionized factories making engines and transmissions for gas-burning autos.Big StakesThe implications are much bigger than just the future of Lordstown, where GM idled a car plant in March, much to the chagrin of President Donald Trump. The project GM has planned is to make batteries for some of the 20 electric models the company has vowed to sell globally by 2023, potentially including the electric trucks that were part of its offer to the UAW. It’s a key component of GM’s transformation and will employ a lot of workers, one of the people said.GM has reason to view its offer as a gift. Right now, GM buys batteries for its Chevrolet Bolt electric car from South Korean supplier LG Chem Ltd. The UAW doesn’t represent those workers.The largest producer of electric vehicles is Tesla Inc., whose Chief Executive Officer Elon Musk has vehemently and publicly opposed the UAW. A Tesla employee who called for forming a union at the company’s assembly plant in 2017 claimed assembly workers there made between $17 and $21 an hour, though they also are compensated with stock options.A union-represented battery plant in Lordstown would position the union for the electric age. But rather than see the offer as a way to add new members for decades to come, the UAW fears spend it will spend that time fighting to restore the level of pay and benefits won over the past 80 years.The battery factory would not be located in GM’s idled Lordstown assembly plant. GM wants to go forward with a plan to sell the facility to a venture overseen by fledgling electric-vehicle maker Workhorse Group Inc.The Union’s WorriesThe UAW already has reservations about electrification. In a white paper published earlier this year, the union estimated 35,000 jobs at engine and transmission plants could be wiped out as electric vehicles become the norm. It’s worried that assembly of electric vehicles, which require fewer parts, will be a drag on jobs.“The production of new EV components could shift business and employment to non-auto companies that lack a large U.S. manufacturing base,” UAW researchers wrote in the white paper. “This could undermine auto job quality by shifting work to employers with no history of manufacturing labor relations or to companies more likely to import components.”There is a similar issue, though much less contentious, at GM’s so-called Poletown plant that straddles the line between the traditionally Polish town of Hamtramck and Detroit. GM also has offered to build new electric vehicles there, which would give the factory life after January, when the company ceases production of the sedans it’s been making. If the union agrees, Hamtramck would make a line of battery-powered pickups and SUVs.Orion PrecedentWhile assemblers in Hamtramck would be covered by GM’s main contract, the company would likely want to include provisions to pay some workers at a lower wage, the people said. The automaker already has a subsidiary called GM Subsystems Manufacturing LLC that makes battery packs in Brownstown, Michigan, and does non-assembly work in other plants, such as handling of parts and materials. Those workers top-out at $17 an hour.The Chevy Bolt plant in Orion, Michigan, has such a deal in place, along with GM’s plant in Lansing making Chevy Camaro muscle cars and Cadillac sedans.For all its concerns, the UAW does see building electric vehicles as a possible lifeline for a union that’s seen membership fall precipitously from its peak in the 1970s.Electric vehicles “could be an opportunity to re-invest in U.S. manufacturing to produce the vehicles of the future under high-road working conditions,” UAW researchers wrote in the white paper. “But this opportunity will be lost if components are imported from other economies or shifted to low-road employers that pay wages below U.S. manufacturing standards.”\--With assistance from Dana Hull.To contact the reporter on this story: David Welch in Southfield at dwelch12@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at, Chester DawsonFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • GM can’t afford to give those striking workers what they want

    GM can’t afford to give those striking workers what they want

    In the not-quite-a-week that General Motors workers have been striking, seeking better wages for less-tenured workers and trying to hang on to their unusually sweet deal on health insurance, there has been the usual choosing of sides. On Twitter, Rep. Alexandria Ocasio-Cortez has slammed GM (GM)  as greedy during a time of what she called record profits, specifically after the auto maker said it would suspend payments for strikers’ health insurance. In the New York Post, conservative economist Steve Malanga sided with the company, incongruously citing 10-year-old earnings reports that have little apparent connection to today’s GM.

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  • Benzinga

    Today's Pickup: EVs Good For Planet, Jobs Not So Much

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  • Benzinga

    GM Strike Brings Layoffs To Truckers In Canada

    A U.S. truckload carrier has temporarily laid off at least 40 drivers and five mechanics at its Canadian branch because of the strike by auto workers at General Motors Company (NYSE: GM) plants in the United States, a union official said. Martin Transportation Systems issued the notice for employees at its Windsor, Ontario, facility on Sept. 17. Unifor, the union representing about 100 of the carrier's Canadian employees, said the layoffs stemmed from the disruption of the carrier's cross-border freight business between GM's U.S. and Canadian facilities.

  • Benzinga

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  • Pressures give both GM, UAW a point to prove with strike
    American City Business Journals

    Pressures give both GM, UAW a point to prove with strike

    As a United Auto Workers strike cripples General Motors Co. plants and idles tens of thousands of workers nationwide, resolution of the new labor contract will face challenges because both sides have something to prove. For GM (NYSE: GM), it’s sweating a potential market downturn and the need to spend billions on new automotive technology, and for the union, it’s pressured by a shrinking membership base and a federal investigation into corruption by its leadership, The Wall Street Journal reports. The talks are further complicated by GM’s need to find cuts elsewhere to fund that tech investment and the UAW’s discontent at making sacrifices during the Great Recession and subsequent bankruptcy but feeling left out of the spoils as the automaker recovered.


    Thousands of Canadian GM Workers Temporarily Laid Off as UAW Strike Continues

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