Biden Reacts to Tentative Agreement Between UAW, GM
October 30, 2023
16,615
182
74
1.54%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Bloomberg News Episodes Around October 30, 2023
See what was published immediately before and after this episode.
0:20Now PlayingBiden Reacts to Tentative Agreement Between UAW, GM
YouTube Description
as posted by the channelPresident Joe Biden on Monday hailed the tentative contract agreement between General Motors and the United Auto Workers union that could end a six-week-old strike against Detroit automakers. Departing Delaware for Washington, the president was asked about the deal as he boarded Air Force One. Biden gave a thumbs-up and said: “I think it’s great.”
The agreement follows the pattern set with Ford last week and Jeep maker Stellantis over the weekend. It was reached early Monday in a meeting at the UAW headquarters in Detroit involving union President Shawn Fain, GM CEO Mary Barra and manufacturing chief Gerald Johnson, said the people, who asked not to be identified because they aren't authorized to speak publicly about the deal.
The deals will last four years and eight months and include 25% general pay raises and cost of living adjustments. Combined they bring the wage increase to over 30% over the life of the contract. The contract with GM is similar to those reached by the other two automakers, but there are some differences.
GM was the last company to reach a deal and the union added a lucrative factory in Tennessee to the strike list on Saturday to turn up the pressure. The UAW reached tentative agreement last week with Ford and Stellantis on Saturday, and it wasted no time in hitting GM where it hurts financially.
--------
Subscribe to our YouTube channel
Subscribe to Bloomberg Originals
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
Breaking News on YouTube
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.