The union increased strike pay twice over the past year to signal its determination heading into negotiations. labor market remains tight, increasing union leverage OEM balance sheets are in great shape, making bolder demands affordable and new UAW leadership is seeking to reverse declining membership. That said, the OEMs seem likely to lose out in this situation, based on several factors: The U.S. auto industry, denting its competitiveness and profitability at the worst possible time. In our view, an outcome too favorable to the UAW that results in large wage increases would be credit negative for the U.S. The softening economic outlook is also an issue.Īlthough carmakers are still recording strong results, 2024 is expected to be a much weaker year for the industry. Negotiators will be highly motivated to defend these priorities given the four-year duration of the next contract - a crucial timeframe for the sector given the OEMs’ ambitious near-term EV targets and the associated high costs. Moreover, the dramatic jump in inflation has eroded real wages while affecting carmakers’ competitiveness.īoth parties have already made conflicting commitments, with UAW pledging to get the best deal for workers and the OEMs promising to sustain or even increase profitability by making EVs more profitable, as the bulk of their earnings is still coming from internal combustion engine (ICE) vehicles. This time, stakes are even higher because the accelerating transition to electric vehicles (EV) has introduced new uncertainties for workers as well as higher spending needs for carmakers. We think talks will be contentious, and could eventually lead to strikes worse than those seen during prior negotiations in 2019, when workers picketed for 40 days. original equipment manufacturers (OEMs), GM ( GM ), Ford ( F ) and Stellantis ( STLA ), to renew existing contracts that expire on September 14. In July, negotiations will kick off between the United Auto Workers (UAW) union and the big three U.S. In.Looming talks carry credit risk given the extent of labor demands. d the use of internet services have resulted in an expansion of information overload-related problems for all social ranks. In ancient and medieval times, the nobility and academics almost exclusively faced information overload-related problems, as Blair (2012) and Levitin (2014) suggested. In particular, the rise of IT and the use of internet services have resulted in an expansion of information overload-related problems for all social ranks. Before these radical innovations, the issue of information overload was limited to a wealthy and privileged elite. Two radical innovations supported the rapid increase in the availability of information and the decrease in information search-related costs: Gutenberg’s printing innovations and the rise of information technology (IT). As Blair (2012) noted in her review article, even in the thirteenth century, scholars complained of “the key ingredients of the feeling of overload which are still with us today: ‘the multitude of books, the shortness of time and the slipperiness of memory’” (Blair 2012, p. 1967 Eppler and Mengis 2004), but the phenomenon is not confined to the modern world. Information overload occurs when decision-makers face a level of information that is greater than their information processing capacity, i.e., an overly high information load (Schroder et al.
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