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Stakes Remain High as UAW Begins Voting on New Contract via The Detroit News
“The UAW plans to continue a strike against GM until at least the evening of Oct. 25th when it will tally votes for the contract.”
https://www.detroitnews.com/story/business/autos/general-motors/2019/10/18/stakes-high-uaw-begins-voting-new-contract/4021815002/?utm_source=AMP&utm_medium=UpNext
Lordstown Motors hires ex-Tesla director to build electric Endurance truck via Detroit News
https://www.google.com/amp/s/amp.detroitnews.com/amp/3910558002
Yes- Lordstown Motors
GM Still Plans to Sell Lordstown to EV Startup after UAW Strike
https://www.google.com/amp/s/www.theverge.com/platform/amp/2019/10/17/20919378/gm-workhorse-lordstown-plant-sale-uaw-strike
This is turning out to be a great play this morning
GM UAW Deal Announcement Expected Wednesday via The Hill
https://www.google.com/amp/s/thehill.com/policy/finance/economy/466032-gm-uaw-near-deal-sources%3famp
GM Strike Could End Today. Here’s What that Could Mean for Stocks via Barron’s
https://www.google.com/amp/s/www.barrons.com/amp/articles/gm-strike-deal-agreement-uaw-parts-suppliers-cars-51571229296
Hey Kitty, hope you got in low today! Nice action!
Kitty, I wanted to make a little extra cash for the kiddos in college. This has worked out fine for that purpose!
Agreed
I guess if you are a long it could be problematic. Shorts and swings can definitely make money on this. Predictable 20 to 30 cent pops and dips.
Venator Materials PLC Shares Acquired by cubist Systematic Strategies LLC
Shares were also being acquired by a number of institutional investors and hedge fund managers during 2nd Q, listed in the article.
https://www.google.com/amp/s/rivertonroll.com/news/2019/10/11/venator-materials-plc-nysevntr-shares-acquired-by-cubist-systematic-strategies-llc.html/amp
This is like an ATM machine. The swings are so predictable!
Nice! Thanks for the info.
I live in a rural area. The USPS doesn’t use their trucks here. The mail carriers get reimbursed per mile to drive their own cars. I don’t think the USPS has plans to change this.
Here’s the link about the USPS delay:
https://www.google.com/amp/s/www.trucks.com/2019/09/03/postal-service-delays-new-mail-truck-contract/amp/
And I agree- I hope the contract goes to a US company too.
If you are waiting on the USPS announcement, it won’t happen until 2020.
Today- partnership with USOG announced- see News tab.
Launching pilot programs for drone delivery of medical supplies.
Yes, the Horsefly has military and civilian applications. Certainly looking forward to seeing how it pans out.
I posted this link a while back. It lists WKHS as a key player in the global drone market:
https://www.einnews.com/pr_news/493931598/drone-logistics-and-transportation-market-2019-global-analysis-growth-size-share-trends-forecast-to-2025
Hey Vici, was referring to the part of the 8k that read:
“In connection with the closing of the Purchase Agreement, the Company and Moog will enter into a joint venture agreement for the development of the Horsefly Assets and the related business (the “Horsefly Agreement”).”
Overall, I believe that it looks good for WKHS, and we finally know what is happening with Surefly.
8K out- see News tab.
Surefly purchase, and a JV for Horsefly
Latest: GM and UAW Near Deal to End Strike as Pay Issues Remain via Bloomberg
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-10-05/gm-and-uaw-near-deal-to-end-strike-as-pay-issues-remain
The GM Strike is Really About the Switch to Electric Cars via MarketWatch
https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/3870F370-E6CB-11E9-83E6-1366F1C3851C
Fate of Lordstown Plant Unresolved as Contract Talks Linger: What Could Happen via Detroit Free Press today
“In August, GM said discussions with Lordstown Motors continued to move in a positive direction and that it could "bring significant production and electric vehicle assembly jobs to the Lordstown plant. We continue to focus our efforts on securing a final agreement.”
“A decision expected by year’s end from the U.S. Postal Service could be a big factor in whether thousands of automotive jobs land in Michigan or elsewhere.”
“... the huge [USPS] contract, reported to be worth $6.3 billion, clearly could tip the scales from "maybe" to reality.”
https://www.google.com/amp/s/amp.freep.com/amp/3824481002
Today: UAW Submits Counter Offer to Comprehensive Deal from GM
https://www.google.com/amp/s/www.cnbc.com/amp/2019/10/01/uaw-submits-counter-offer-to-comprehensive-deal-from-gm.html
Slow negotiations. Hoping this is resolved this week so a decision can be made regarding WKHS and Lordstown Motors.
This board is for WKHS. Please post NIO warnings on that board.
UAW Strike Against GM: The Basics, the Issues, Where it Stands Now
https://www.freep.com/story/money/cars/general-motors/2019/09/29/gm-strike-uaw-update-status/3788205002/
New: Consortium Looks to Turn GM Lordstown Plant into Electric Vehicle Epicenter via GM Authority
“Lordstown Motors is seeking to acquire the General Motors Lordstown Plant in Ohio, and in the process, transform it into an “epicenter” for electric vehicles, according to statements made by the company’s CEO, Steve Burns, earlier this week ahead of a keynote panel at the Energy Storage Building Efficiency conference.”
“We are designing trucks that can be built in that plant,” Burns said. “We’re assuming we’re going to get it, but it’s not 100 percent. It’s used to building smaller vehicles and we’re going to build full-size pickup trucks. We don’t feel there are any pinch points there.”
“If everything goes through smoothly, Lordstown Motors would like to begin production as early as the end of 2020.”
https://www.google.com/amp/gmauthority.com/blog/2019/09/consortium-looks-to-turn-gm-lordstown-plant-into-electric-vehicle-epicenter/amp/
New: GM and Union Could Reach a Deal to End Strike by Weekend, Sources Say
https://www.google.com/amp/s/abcnews.go.com/amp/Business/gm-union-reach-deal-end-strike-weekend-sources/story%3fid=65875346
Hoping you are right. Both sides sounding positive about resolving this before they ended negotiations this evening.
Fitch Ratings for FMCC from Sept. 24 Press Releases
https://www.fitchratings.com/site/search?content=research&request=Freddie%20Mac
New: Electric Truck Company Still Interested in GM Lordstown Plant, Planning for Future via WKBN news
“Our intent is to come here and build electric pick-up trucks in this region,” he said. “Our intent is to purchase the Lordstown plant from GM but I think you can appreciate the complexities of all the things going on there.”
“The Lordstown truck, the first vehicle we make, will be the first electric full-size pick-up truck in the country, and I suspect the world,” he said.”
“They [GM] want to build a battery plant here,” Burns said. “We certainly want to build a battery plant here as well.”
“We intend to use union labor and the union has an agreement with GM.”
https://www.google.com/amp/s/www.wkbn.com/news/local-news/electric-truck-company-still-interested-in-gm-lordstown-plant-planning-for-future/amp/
Today: “All Electric Future” a short-circuit in UAW-GM Strike via Green Car Reports
“The facility which housed production of the Cruze is expected to become the future home of EV startup Workhorse, which intends to use the factory to build an electric truck.”
https://www.greencarreports.com/news/1125178_report-all-electric-future-a-short-circuit-in-uaw-gm-strike
That is what I’ve been speculating as well.
Yes, that too. I wasn’t sure if they were referring to the battery production, or Lordstown Motors.
New: GM Strike may stretch out awaiting UAW workers’ vote on tentative deal via Detroit Free Press
One of the sticking points of the negotiation:
“The union wants more details on how a promised $7 billion in GM investments over a four-year contract would be allocated to solve Lordstown's fate. GM has indicated a battery cell manufacturer could go there. And GM is still in talks with a group headed by electric-truck maker Workhorse, to buy another part of the plant.
But some close to the talks said the battery cell manufacturer could be a joint-venture and offer a separate UAW contract for workers, likely at lower pay rate than the GM contract. This is problematic, said three people familiar with the UAW's thinking, because in a decade or so, if battery cells replace traditional engines, gone are those higher-paying UAW jobs, replaced by the lower-paid jobs in the separate contract.”
https://www.google.com/amp/s/amp.freep.com/amp/2411104001
Striking UAW 1112 Workers want GM Car for Lordstown via Business Journal Daily
A few takeaways from the article:
“Other provisions of the [GM] proposal included investments in eight facilities in four states, the opportunity to become the first union-represented battery cell manufacturing site in the United States, the introduction of all-new electric vehicles and additional new vehicle and propulsion systems.”
“Should Lordstown Motors move forward with its plans for the plant, Barker [Doug Barker, production worker] is convinced that GM needs to play a role in the company.
“I don’t know if that’ll provide the good-paying jobs that we’ve had here working with General Motors,” he said.”
https://businessjournaldaily.com/striking-uaw-1112-workers-want-gm-car-for-lordstown/
Great! Enjoy your weekend as well!
GLTA
Ditto. Now we can move forward since the previous contract is expired. News one way or the other would be welcome.
New: Hallelujah Moment: Poletown, Ohio plants could drive GM’s Future via Detroit News
“After GM said it would “unallocate” Lordstown, the company said it was having discussions to sell the plant to Workhorse and Lordstown Motors, a company formed in June by former Workhorse CEO Steve Burns. Lordstown Motors is securing financing needed to purchase the plant. GM could not sell the property during the life of the 2015 contract, which expired Saturday night.”
https://www.google.com/amp/s/amp.detroitnews.com/amp/2354239001
I guess Amazon told Mercedes to take a hike? Last September they were going to use Sprinter vans.
I’m interested to see how Amazon pulls off the franchise operation of their city fleets of delivery vehicles.
Article from September 2018: https://www.google.com/amp/s/cleantechnica.com/2018/09/10/amazon-thumbs-its-nose-at-sustainability-orders-20000-conventional-mercedes-sprinter-vans/amp/