President Shawn Fain is scheduled to offer a bargaining update at 2 p.m. on Friday.
United Auto Workers President Shawn Fain will speak again on Friday afternoon at 2 p.m. Eastern in a bargaining update for members and investors. It isn’t clear if he will ask more workers to go on strike.
The narrow scope of the strike limits the effects on both the UAW strike fund and the auto makers’ profit and loss statements. That means that while the financial impact of the strike is likely to be relatively small, it also means neither side is under great pressure to quickly reach a deal. Shifts that last a quarter or two aren’t the main concern of workers, the companies, or investors though. Workers want wages to rise enough to at least offset the high inflation of the past few years. The companies want to ensure they can continue to invest and compete with nonunion players such as Tesla and Toyota. Investors want to know where wages are going so they can value the stocks appropriately.
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