<a href="https://www.dailywire.com/topic/general-motors" target="_blank" rel="noopener">General Motors</a> and the United Auto Workers union reached a tentative agreement on Monday that increases wages for workers following six weeks of <a href="https://www.dailywire.com/topic/strike" target="_blank" rel="noopener">strikes</a> at GM facilities around the country. 
The deal with GM followed other deals with Ford and Stellantis after the union representing workers for the automobile companies <a href="https://www.dailywire.com/news/autoworkers-strike-expands-ahead-of-expected-appearances-from-trump-biden" target="_blank" rel="noopener">demanded higher pay</a> as well as “economic and social justice.” Members of the union must still vote to accept the terms of the agreement before it can be officially implemented. 
“The UAW reached a historic tentative agreement with General Motors that paves the way for a just transition and wins record economic gains for autoworkers,” the union <a href="https://uaw-newsroom.prgloo.com/press-release/uaw-reaches-a-tentative-agreement-with-general-motors-bringing-ultium-cells-workers-into-master-agreement" target="_blank" rel="noopener">said</a> in a statement. “Like the agreements with Ford and Stellantis, the GM agreement has turned record profits into a record contract.”
The agreement, which would be in place through April 2028, will factor in cost of living increases, which have jumped as food and transportation inflation have hit record highs during the Biden administration. 
“The agreement grants 25% in base wage increases through April 2028, and will cumulatively raise the top wage by 33% compounded with estimated COLA [cost of living allowances] to over $42 an hour. The starting wage will increase by 70% compounded with estimated COLA, to over $30 an hour,” the union said. 
GM Chair and CEO Mary Barra <a href="https://www.nytimes.com/2023/10/30/business/economy/gm-uaw-contract-deal.html" target="_blank" rel="noopener">said</a> the company &#8220;is pleased to have reached a tentative agreement with the UAW that reflects the contributions of the team while enabling us to continue to invest in our future and provide good jobs in the U.S.”
GM has <a href="https://www.cnbc.com/2023/10/30/gm-uaw-tentative-agreement-labor-strike.html" target="_blank" rel="noopener">lost</a> an estimated $800 million during the lengthy strike.
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The strike gained the attention of leading 2024 presidential candidates, including President Joe Biden and former President Donald Trump. Biden, who previously spoke to workers in Michigan, praised the deal with GM, saying that it rewards “autoworkers who gave up much to keep the industry working and going during the global financial crisis more than a decade ago.”
During a September speech before autoworkers in Clinton Township, Michigan, <a href="https://www.dailywire.com/news/trump-blasts-bidens-economic-policies-in-appeal-to-michigan-voters-sending-auto-workers-to-the-unemployment-line" target="_blank" rel="noopener">Trump blasted</a> Biden’s economic and environmental policies, taking aim at Biden’s aggressive push to “transition” the U.S. from gas-powered cars to electric vehicles. 
“You can be loyal to American labor or you can be loyal to the environmental lunatics,” Trump <a href="https://www.detroitnews.com/story/news/politics/2023/09/27/donald-trump-returns-auto-industry-strike-uaw-ev-taking-center-stage-presidential-election-joe-biden/70960155007/">said</a>. “But you can’t really be loyal to both. It’s one or the other.”
“The auto industry is being assassinated,” Trump added. “If you want to buy an electric car, that’s absolutely fine. I’m all for it. But we should not be forcing consumers to buy electric vehicles they don’t want to buy.”

GM Reaches Tentative Agreement With UAW Ending Six-Week Strike

Tentative Deal Reached Between General Motors And UAW After GM Loses Estimated $800 Million

Automobiles

Donald Trump

Economy

electric vehicles

General Motors

Joe Biden

strike

U.S.

The <a href="https://www.dailywire.com/news/former-union-president-says-auto-workers-feel-abandoned-by-the-democratic-party-as-union-criticizes-bidens-ev-push" target="_blank" rel="noopener">United Auto Workers</a> announced a strike against <a href="https://www.dailywire.com/topic/ford-motor-co" target="_blank" rel="noopener">Ford</a>, General Motors, and Stellantis, as the union demands higher wages and “economic and social justice.”
Around 13,000 auto workers <a href="https://apnews.com/article/auto-uaw-workers-strike-gm-ford-stellantis-7ce3ca9d94b911250d07556b7af376c7" target="_blank" rel="noopener">stopped working</a> as picketing began outside a Ford factory in Wayne, Michigan; a GM assembly plant in Wentzville, Missouri; and a Stellantis Jeep plant in Toledo, Ohio. The strike comes after weeks of negotiations between the union and leadership at the automakers. 
“We didn’t want to be here. We want a fair agreement. We want fair economic and social justice for our members. That’s what this is all about. And it’s a shame,” <a href="https://www.nbcnews.com/business/business-news/live-blog/uaw-strike-ford-general-motors-stellantis-live-updates-rcna105134" target="_blank" rel="noopener">said</a> Shawn Fain, president of the auto workers union. 
The strike is currently only targeted at three factories as the UAW pushes for a 36% pay bump over a four-year period for workers. Ford and GM said they could do 20% and Stellantis put forth a 17.5% increase over four years, according to the Associated Press. 
Other demands by the union are a 32-hour work week with pay for 40 hours, pensions for new employees, and inflation-based pay bumps. 
Prior to the strike, GM outlined that, in addition to the 20% pay increase over four years, the company would add “inflation protection,” increase its contributions to retirement health care savings by 25%, and increase vacation time. GM CEO Mary Barra <a href="https://www.gmnegotiations2023.com/public/us/en/negotiations/home.html" target="_blank" rel="noopener">described</a> the offer as a “compelling and unprecedented economic package.” 
President Joe Biden, who <a href="https://www.axios.com/2023/09/05/uaw-strike-likely-detroit-automakers" target="_blank" rel="noopener">predicted</a> that a strike would not take place, will reportedly discuss the standoff sometime on Friday. 
&#8220;No, I&#8217;m not worried about a strike until it happens. I don&#8217;t think it&#8217;s going to happen,” Biden said on Labor Day. 
Alfredo Ortiz, president and CEO of Job Creators Network, slammed Biden in a statement after the strike, saying that the president was in part responsible for the strike.
&#8220;President Biden is partly responsible for the economically damaging UAW strike because Bidenflation has caused declining real wages and living standards for ordinary workers, resulting in UAW taking this drastic action to swing the wage pendulum in the other direction. Biden&#8217;s pro-union rhetoric, including calling himself the most pro-union president in history, has also contributed to the UAW overplaying its hand with ridiculous compensation demands that threaten the livelihoods of hundreds of thousands of workers, thousands of small businesses that service the big three automakers, and even the automakers themselves,&#8221; Ortiz said.
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Ford said that a strike “could have wide-ranging consequences for our business and the economy. It also impacts the very 57,000 UAW-Ford workers we are trying to reward with this contract.”
Stellantis, who had about 5,800 employees in Ohio stop work making the Jeep Wrangler and Gladiator, said it was “disappointed” by the strike. 
&#8220;We are extremely disappointed by the UAW leadership’s refusal to engage in a responsible manner to reach a fair agreement in the best interest of our employees, their families and our customers,&#8221; a statement from Stellantis said. &#8220;We immediately put the Company in contingency mode and will take all the appropriate structural decisions to protect our North American operations and the Company,” the company added.

United Auto Workers Hold Limited Strikes As Contract Negotiations Expire

Workers Walk Out At Three Major Auto Factories After Biden Predicted Strike Wouldn’t Happen

Ford Motor Co.

Michigan

Missouri

Ohio

Unions

Disney, NASCAR, and Kohl’s are among the companies under scrutiny for their financial support of the Trevor Project, a pro-LGBT organization that critics say enables sexual predators. 
The “<a href="https://consumersresearch.org/woke-alert/woke-alert-disney-bank-of-america-nascar-chipotle-kohls-gm/" target="_blank" rel="noopener">woke alert</a>” flagging the corporations’ support of the Trevor Project was issued by <a href="https://consumersresearch.org/" target="_blank" rel="noopener">Consumers’ Research</a>, a nonprofit organization that <a href="https://consumersresearch.org/history/" target="_blank" rel="noopener">seeks to</a> “educate and protect consumers.”
“These six corporations are among those <a href="https://www.thetrevorproject.org/corporate-partners/" target="_blank" rel="noopener">funneling millions of dollars</a> to the <a href="https://nypost.com/2022/09/01/mom-discovers-depravity-in-trevor-projects-trans-chat-room/" target="_blank" rel="noopener">Trevor Project,</a> an organization that hosts a <a href="https://www.thetrevorproject.org/visit-trevorspace/" target="_blank" rel="noopener">private chat room</a> in which adults prey on vulnerable children,” the alert from Consumers’ Research says. 
Bank of America, Chipotle, and General Motors were also identified in the alert, which was intended to “highlight another disturbing example of Woke Capitalism.”
The &#8220;woke alert&#8221; notes that Kohl&#8217;s supports the group with its <a href="https://www.kohls.com/catalog.jsp?CN=Assortment:Pride&amp;cc=di-TN2.0-S-pride" target="_blank" rel="noopener">&#8220;Trevor Project specific pride collection.&#8221;</a> Kohl&#8217;s also made a <a href="https://www.kohls.com/catalog.jsp?CN=Assortment:Pride&amp;cc=di-TN2.0-S-pride" target="_blank" rel="noopener">$100,000 donation</a> to the organization. Chipotle also supported the organization with a &#8220;<a href="https://chipotlegoods.com" target="_blank" rel="noopener">pride line of merchandise</a>.&#8221; The company pledged a minimum of $15,000 to the Trevor Project.
The alert, which provides consumers with ways to reach out to the companies, specifically focused on the organization’s “TrevorSpace,” an online, anonymous chat platform for children as young as 13. 
The website does not utilize age verification and “provides a way for groomers and predators to communicate directly with children without their parents’ knowledge or consent,” Consumers’ Research claims.
Screenshots <a href="https://nypost.com/2022/09/01/mom-discovers-depravity-in-trevor-projects-trans-chat-room/" target="_blank" rel="noopener">reported</a> by the New York Post and included in the alert show discussions of pornography, masturbation, and fetishes on the site. The Post <a href="https://nypost.com/2022/09/01/mom-discovers-depravity-in-trevor-projects-trans-chat-room/" target="_blank" rel="noopener">described</a> the website as a “‘Pandora’s box’ of sexually perverse content, aggressive gender-reassignment referrals, adults encouraging minors to hide their transitions from their parents and many troubled kids in need of psychological counseling.” 
The Trevor Project was <a href="https://decider.com/2022/06/24/trevor-1994-short-film-watch-online/" target="_blank" rel="noopener">named after</a> a <a href="https://www.youtube.com/watch?v=1geRc8LaZfs" target="_blank" rel="noopener">short film</a> produced by the organization’s founders called “Trevor,” which centers around a gay teen who attempts suicide. The organization states that its mission is “to end suicide among LGBTQ young people.”
However, January Littlejohn, a parent advocate with <a href="https://donoharmmedicine.org/" target="_blank" rel="noopener">Do No Harm</a>, argues, &#8220;The Trevor Project has strayed far from their noble beginning as an organization dedicated to preventing suicide amongst vulnerable youth” and is “no longer a safe place for children or teens.&#8221; 
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“Companies donating to this organization need to understand what they are actually supporting, which is the teaching of radical gender ideology, the false notion that a child can be born into the wrong body, onto impressionable children,” Littlejohn added. 
“The Trevor Project fosters a predatory and unsafe environment for minors. The fact that they have features in place that encourage children to hide their search and chatroom activity from their parents is deeply alarming,” Consumers’ Research Executive Director Will Hild alleged. 
He added, “Companies like Disney, General Motors, and Bank of America should not be funding online chatrooms where predatory adults have unfettered access to groom vulnerable children.”
None of the six corporations, nor the Trevor Project, responded to a request for comment.
(Disclosure: The Daily Wire has <a href="https://www.dailywire.com/videos/introducing-dw-kids">announced plans</a> for kids entertainment content.)
The National Suicide Prevention Lifeline is a free hotline for individuals in crisis or distress or for those looking to help someone else. It is available 24/7 at 1-800-273-8255.

Phone in the dark

‘Woke Alert:’ Disney, Kohl’s Blasted For Support Of LGBT Group Hosting Anonymous Chats For Teens

Disney, Kohl's Blasted For Support Of LGBT Group Hosting Anonymous Chats For Teens

Bank of America

Children

Chipotle

Disney

Kohl's

LGBT

NASCAR

Politics

Social Issues

It’s been two and a half years since the onset of the <a href="https://www.dailywire.com/topic/covid-19" target="_blank" rel="noopener">COVID</a> pandemic forced millions of American workers out of the office, and white-collar workers at <a href="https://www.dailywire.com/topic/michigan" target="_blank" rel="noopener">Michigan</a>-based automaker <a href="https://www.dailywire.com/topic/general-motors" target="_blank" rel="noopener">General Motors</a> remain unconvinced they should return to in-person work.
GM sent a memo to its salaried employees last week, detailing an immediate plan to move back to in-office work for three days a week as COVID no longer poses the same threat it did two years ago. The plan was met with backlash after the company has promoted its “Work Appropriately” policy allowing salaried employees and their managers to come up with a schedule based on individual needs and preferences.
&#8220;You can probably imagine what the general mood is,&#8221; an employee <a href="https://www.freep.com/story/money/cars/general-motors/2022/09/27/gm-return-to-office-detroit-work-appropriately/69520262007/" target="_blank" rel="noopener">told</a> the Detroit Free Press. &#8220;The company has been talking a good game about Work Appropriately since this all began, and we were completely blindsided by this news.&#8221;
GM took a step back Tuesday and apologized for the “unfortunate” bad timing of a note from company leadership signaling a return to in-person work.
Since April of 2021, GM has used the “Work Appropriately” policy, and the company’s <a href="https://search-careers.gm.com/about-us/our-culture/" target="_blank" rel="noopener">website</a> still promotes the policy, stating, “our employees have the flexibility to work where they can have the greatest impact to achieve their goals and for their individual success.”
Last week, the motor company said it was time to move back to more of an in-person schedule. &#8220;Over time, we have lost some of the important, intangible benefits of regularly working together in-person including, casual mentoring, more efficient communication and bringing an enterprise mindset to our work,” GM CEO Mary Barra wrote in a note to employees.
In the apology, company executives <a href="https://www.detroitnews.com/story/business/autos/general-motors/2022/09/27/gm-delays-timeline-for-when-employees-return-to-the-office-amid-backlash/69522453007/" target="_blank" rel="noopener">explained</a> that some of the information told to employees came from a senior leader meeting and was shared “prematurely.” GM then told employees that it will listen to their concerns and provide more information on the policy at the end of October.

GM Pumps Brakes On Return-To-Work Policy, Apologizes After White-Collar Workers Complain

Cars

COVID

General Motors (<a href="https://www.dailywire.com/topic/general-motors">GM</a>) witnessed net <a href="http://dailywire.com/topic/business">profits</a> fall 40% in the second quarter due to persistent <a href="http://dailywire.com/topic/supply-chain">supply chain</a> issues.
Although revenue rose to $35.76 billion, a 5% increase from the second quarter of last year, net income fell from $2.84 billion to $1.69 billion, according to a Tuesday <a href="https://www.prnewswire.com/news-releases/gm-reports-second-quarter-2022-results-301592979.html#:~:text=DETROIT%2C%20July%2026%2C%202022%20%2F,its%20full%2Dyear%20earnings%20guidance.">press release</a>. The automaker’s earnings report indicates high demand amid supply constraints that prevent consumers from receiving new cars.
“The customers are there for our vehicles,” CEO Mary Barra told analysts, per <a href="https://www.wsj.com/articles/general-motorss-income-tumbles-40-on-china-loss-parts-shortages-11658832455?mod=mhp">The Wall Street Journal</a>. “They’ve been waiting, and all indications are they remain ready to buy.”
Among other automakers, GM has been troubled by the low availability of semiconductors. Many Asian economies enforced harsh lockdown measures in response to COVID, causing bottlenecks in the global semiconductor supply chain that have lasted for more than two years. Earlier this year, computer chip shortages led GM to pause production for two weeks at a facility in Fort Wayne, Indiana, that assembles pickup trucks such as the Chevrolet Silverado and the GMC Sierra.
“There is still uncertainty and unpredictability in the semiconductor supply base, and we are actively working with our suppliers to mitigate potential issues moving forward,” GM said at the time, per the <a href="https://apnews.com/article/technology-business-indiana-2adfb6bdc5b3d90149ad40f04670da52">Associated Press</a>.
In response to the supply chain issues, lawmakers have <a href="https://www.dailywire.com/news/plans-for-new-semiconductor-factories-across-america-hit-major-roadblock">proposed</a> the $52 billion CHIPS for America Act to incentivize new semiconductor production in the United States — but because the funding has not yet reached chipmakers, companies such as Intel, TSMC, and GlobalFoundries recently issued “public warnings” that they might start new production in Europe and Asia, according to the <a href="https://www.commerce.gov/news/press-releases/2022/06/icymi-three-companies-warn-about-delayed-chip-funding-globalwafers">Department of Commerce</a>. Supply chain issues have contributed to <a href="https://www.dailywire.com/news/here-are-the-products-making-your-wallet-lighter-as-inflation-hits-new-highs">inflationary pressures</a> in the market for new and used vehicles, for which costs have respectively risen by 11.4% and 7.1% since June 2021.
GM’s profits have plummeted despite an array of favors from the White House. Most recently, the Biden administration’s Department of Energy announced that it would provide the company with a $2.5 billion loan to finance the construction of new electric battery facilities in Ohio, Tennessee, and Michigan, according to a report from <a href="https://www.reuters.com/business/autos-transportation/exclusive-us-energy-department-set-loan-gm-battery-joint-venture-25-bln-2022-07-25/">Reuters</a>.
Last year, President Joe Biden <a href="https://www.dailywire.com/news/report-biden-visited-gm-factory-after-company-paid-160000-to-lobbyist-whose-brother-works-in-the-white-house">visited an electric car factory</a> operated by GM after the automaker paid nearly $160,000 to the brother of a White House staffer. According to a report from <a href="https://freebeacon.com/biden-administration/top-biden-aides-lobbyist-brother-wins-presidential-visit-for-client/">Washington Free Beacon</a> reporter Matthew Foldi, lobbyist Jeff Ricchetti — the brother of Steve Ricchetti, who serves as counselor to the president and worked as chief of staff to the vice president from 2013 to 2017 — has earned significant sums from the company since Biden’s inauguration.
GM announced earlier this month that it would <a href="https://www.dailywire.com/news/biden-praised-gm-over-tesla-now-gm-is-moving-jobs-to-mexico">manufacture</a> the 2024 Chevrolet Blazer in Ramos Arizpe, Mexico, where the gas-powered version of the car is presently assembled. Versions of the electric vehicle will sell for between $45,000 and $66,000 and have a range of up to 320 miles. The expansion outside of the United States provoked mockery from Tesla CEO Elon Musk, who called his cars the “most made-in-USA vehicles.”
Indeed, President Biden has frequently <a href="https://www.dailywire.com/news/joe-bidens-electric-vehicle-summit-excludes-tesla">lauded</a> GM and Ford amid their efforts to expand electric vehicle offerings — yet has consistently decided to turn a blind eye to Tesla, the world’s largest electric vehicle maker, due to its lack of unionization.

President Biden Visits GM ZERO Factory In Detroit

Profits At General Motors Dropped 40% Despite Several White House Favors

Profits Drop At General Motors Despite Several White House Favors

Biden Administration

Business

Supply Chain

General Motors (<a href="https://www.dailywire.com/topic/general-motors">GM</a>) is planning to build its newest <a href="https://www.dailywire.com/topic/electric-cars">electric vehicle</a> in Mexico, the <a href="http://dailywire.com/topic/economy">company</a> said on Monday.
Slated to arrive in the American marketplace next summer, the 2024 Chevrolet Blazer will be manufactured in Ramos Arizpe, Mexico, where the gas-powered version of the car is presently assembled, according to <a href="https://www.cnbc.com/2022/07/18/gm-reveals-chevrolet-blazer-ev-with-pricing-up-from-45000.html">CNBC</a>. Versions of the electric vehicle will sell for between $45,000 and $66,000 and have a range of up to 320 miles.
In response to the news of GM’s expansion in Mexico, Tesla CEO Elon Musk <a href="https://twitter.com/elonmusk/status/1549440612021243906">commented</a> on social media that “Teslas are the most made-in-USA vehicles.”
Indeed, President Joe Biden has frequently lauded GM and Ford amid their efforts to expand electric vehicle offerings — yet has consistently decided to omit the world’s largest electric vehicle automaker.
“Ford is investing $11B to build electric vehicles — creating 11,000 jobs across the country,” a post from Biden’s social media <a href="https://www.dailywire.com/news/elon-musk-hits-joe-biden-hard-after-state-of-the-union">said</a> as his most recent State of the Union speech concluded. “GM is making the largest investment in its history — $7B to build electric vehicles, creating 4,000 jobs in Michigan.”
Musk, who has since <a href="https://www.dailywire.com/news/take-the-red-pill-how-elon-musk-came-to-embrace-the-republican-party">expressed support</a> for Republican candidates, then <a href="https://twitter.com/elonmusk/status/1498858611241635843?ref_src=twsrc%5Etfw">noted</a> that his company has created more than 50,000 jobs in the United States, as well as invested “more than double” GM and Ford combined. Months ago, Musk <a href="https://www.dailywire.com/news/elon-musk-dons-cowboy-hat-to-launch-new-tesla-factory-in-texas">unveiled</a> his company’s new manufacturing facility near Austin, Texas.
The snubbing from the Biden administration may lie in the fact that Tesla is not unionized. On the <a href="https://joebiden.com/empowerworkers/#">campaign trail</a>, Biden had pledged to “encourage and incentivize unionization and collective bargaining” while supporting legislation such as the Protecting the Right to Organize (PRO) Act, which <a href="https://www.dailywire.com/news/the-democrats-pro-act-three-things-you-need-to-know">threatens</a> to eliminate states’ right to work laws and erode the legal status of independent contractors.
Former White House Press Secretary Jen Psaki hinted at Tesla’s lack of unionization last year when she was asked why the company was <a href="https://www.dailywire.com/news/joe-bidens-electric-vehicle-summit-excludes-tesla">not invited</a> to an electric vehicle summit in which Ford and GM participated.
“Well, we, of course, welcome the efforts of all automakers who recognize the potential of an electric vehicle future and support efforts that will help reach the president’s goal. And certainly, Tesla is one of those companies,” Psaki said. “Today, it’s the three largest employers of the United Auto Workers, and the UAW president who will stand with President Biden as he announces his ambitious new target, but I would not expect this is the last time we talk about clean cars, the move toward electric vehicles, and we look forward to having a range of partners in that effort.”
When pressed on whether Tesla was omitted because it is not unionized, Psaki repeated that attendees included “the three largest employers of the United Auto Workers.”
“I’ll let you draw your own conclusions,” she added.
At the time, one electric vehicle YouTuber <a href="https://twitter.com/arctechinc/status/1423315146378649600">noted</a> on Twitter that Musk could have a seat at the table if he had “moved Tesla manufacturing to Mexico like Ford did.”
“Apparently good paying American jobs, making 100% Electric vehicles isn’t enough to be shown as an example of how other manufacturers should behave?” he observed.
Musk replied: “Irony indeed.”

Elon Musk

Biden Praised GM Over Tesla. Now, GM Is Moving Jobs To Mexico

Tesla

Ford Motor Company and General Motors want to produce their own computer chips.
The development occurs as supply chain bottlenecks impact the availability of semiconductors and other key inputs for American firms.
<a href="https://www.wsj.com/articles/ford-enters-semiconductor-business-amid-chip-shortage-impact-11637242202?mod=hp_lead_pos1">The Wall Street Journal</a> reports:
<blockquote>Ford on Thursday morning said it had entered into a strategic agreement with U.S.-based chip maker GlobalFoundries Inc. to develop chips, a pact that could eventually lead to joint production in the U.S. The two companies didn’t disclose terms or say how much they might invest in future production capacity.
Shortly after, GM President Mark Reuss said GM was also trying to forge deeper ties with chip makers, striking strategic partnerships that could lead it to co-develop semiconductors and potentially produce them jointly. The move is part of a strategy to reduce variation in the microprocessors it uses in vehicles, he said.</blockquote>
The outlet adds that the chip shortage is limiting production and forcing automakers to reconfigure their global supply chains:
<blockquote>The semiconductor shortage has scuttled output of millions of planned vehicles industrywide this year. Some car executives have said they are taking steps to get a better handle on their chips, a critical piece of the supply chain into which they have had little visibility.
Ford is the latest example of companies realigning their business models as they grapple with the pandemic-related disruptions. Multinational companies got an early shock in the Covid-19 crisis when border closings, local restrictions and lockdowns caused chaos. Some have decided on permanent solutions.</blockquote>
Beyond car manufacturers, <a href="https://www.cnbc.com/2021/05/07/chip-shortage-is-starting-to-have-major-real-world-consequences.html">CNBC</a> observes that the global computer chip shortage hurts businesses in multiple sectors: “As technology has advanced, semiconductor chips have spread from computers and cars to toothbrushes and tumble dryers — they now lurk beneath the hood of a surprising number of products.”
Tesla chief executive Elon Musk <a href="https://www.dailywire.com/news/never-seen-anything-like-it-elon-musk-reacts-to-global-supply-chain-issues">commented</a> earlier this year that he has “never seen anything like” the semiconductor shortage.
“Our biggest challenge is supply chain, especially microcontroller chips,” Musk said on Twitter. He then compared the company’s decision to “overorder” various products to the “toilet paper shortage” that occurred at the outbreak of COVID-19 in the United States.
For the past several months, shipping vessels delivering consumer goods from Asian markets have <a href="https://www.dailywire.com/news/supply-chain-crisis-worsens-number-of-ships-off-california-coast-hits-new-record">idled</a> in the Pacific Ocean as the United States endures labor shortages, creating bottlenecks in the ports of Los Angeles and Long Beach. Retailers across the United States are therefore short on inventory to meet rising consumer demand.
Investors, however, see no immediate end in sight to the crisis. During an interview with CNBC, Paul Meeks — who led Merrill Lynch’s technology fund during the dot-com bubble and currently works as a <a href="https://go.citadel.edu/accounting-finance/faculty-staff/paul-meeks/">professor</a> at The Citadel — said that the bottlenecks may last until 2023.
“Some of these companies actually will not be able to ship units. And if they can’t ship units, they might disappoint on their earnings,” he explained. “Their stocks are so expensive that they could go down. Not go down a bit, they could go down a lot.”
“It’s a bummer and unfortunately, there’s not any relief,” he continued. “It’ll also hit the top and bottom lines of some of these vendors that are selling those hot Christmas products.”

Cars on production line in factory

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President Joe Biden visited an electric car factory operated by General Motors after the automaker paid nearly $160,000 to the brother of a White House staffer.
Matthew Foldi of <a href="https://freebeacon.com/biden-administration/top-biden-aides-lobbyist-brother-wins-presidential-visit-for-client/">The Washington Free Beacon</a> explains that lobbyist Jeff Ricchetti — the brother of Steve Ricchetti, who serves as counselor to the president and worked as chief of staff to the vice president from 2013 to 2017 — has earned $160,000 from General Motors since Biden’s inauguration.
The report explains:
<blockquote>The investment appears to have paid off — on Wednesday, Biden will attend the grand opening of the company’s new electric vehicle factory as part of his push for Congress to &#8220;approve big tax incentives for zero-emission vehicles,&#8221; precisely what Ricchetti was paid to push for&#8230;
Ricchetti has cashed in on his family ties to the administration. Ricchetti has already brought in $2.4 million in lobbying fees this year, double his 2020 haul of $1.2 million, according to numbers compiled by OpenSecrets. Ethics experts have criticized the Biden administration for allowing Steve Ricchetti to work on issues his brother is being paid to lobby the administration on.</blockquote>
General Motors <a href="https://www.reuters.com/business/autos-transportation/biden-visit-gm-electric-vehicle-plant-wednesday-says-automaker-2021-11-11/">opened</a> its “Factory Zero” during the commander-in-chief’s visit. The event occurred amid debates in Congress over the $1.75 trillion “Build Back Better Act,” which would hike the electric vehicle tax credit from $7,500 to $12,500.
In a recent interview with <a href="https://www.dailywire.com/news/how-the-democrats-new-tax-bill-reverses-trumps-tax-cuts-an-interview-with-rep-kevin-brady">The Daily Wire</a>, Rep. Kevin Brady (R-TX) — the Ranking Member of the House Ways and Means Committee — observed: “A family making $800,000 per year is eligible for a $12,500 check to buy a luxury electric vehicle with up to a $74,000 price tag… That check they’re getting will be paid for by the maid who comes to clean their house. It’s a stunning giveaway to the wealthy.”
More broadly, the Biden administration has acted highly favorably toward automakers with unionized workforces. Indeed, The Daily Wire reported that Biden’s recent electric vehicle summit — attended by executives from General Motors and Ford — appeared to <a href="https://www.dailywire.com/news/joe-bidens-electric-vehicle-summit-excludes-tesla">snub</a> Tesla because it is not unionized.
News outlets — and CEO Elon Musk himself — were apparently surprised that the world’s largest electric vehicle manufacturer was not invited to the event. However, White House Press Secretary Jen Psaki implied during a press briefing that Tesla’s lack of unionization was the factor behind the administration’s choice to exclude the firm.
“Well, we, of course, welcome the efforts of all automakers who recognize the potential of an electric vehicle future and support efforts that will help reach the president’s goal. And certainly, Tesla is one of those companies,” said Psaki. “Today, it’s the three largest employers of the United Auto Workers, and the UAW president who will stand with President Biden as he announces his ambitious new target, but I would not expect this is the last time we talk about clean cars, the move toward electric vehicles, and we look forward to having a range of partners in that effort.”
When asked again if Tesla was snubbed because it is not unionized, Psaki said: “I’ll let you draw your own conclusions.”

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Electric cars

President Donald Trump announced on Friday that he was utilizing the Defense Production Act to force General Motors to produce ventilators after he said that the company was &#8220;wasting time&#8221; during negotiations.
&#8220;Today, I signed a Presidential Memorandum directing the Secretary of Health and Human Services to use any and all authority available under the Defense Production Act to require General Motors to accept, perform, and prioritize Federal contracts for ventilators,&#8221; Trump said in a statement. &#8220;Our negotiations with GM regarding its ability to supply ventilators have been productive, but our fight against the virus is too urgent to allow the give-and-take of the contracting process to continue to run its normal course.&#8221;
&#8220;GM was wasting time,&#8221; Trump added. &#8220;Today’s action will help ensure the quick production of ventilators that will save American lives.&#8221;
Trump has slammed GM earlier in the day in a tweet, writing: &#8220;General Motors MUST immediately open their stupidly abandoned Lordstown plant in Ohio, or some other plant, and START MAKING VENTILATORS, NOW!!!!!! FORD, GET GOING ON VENTILATORS, FAST!!!!!! @GeneralMotors @Ford&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
General Motors MUST immediately open their stupidly abandoned Lordstown plant in Ohio, or some other plant, and START MAKING VENTILATORS, NOW!!!!!! FORD, GET GOING ON VENTILATORS, FAST!!!!!! <a href="https://twitter.com/generalmotors?ref_src=twsrc%5Etfw">@GeneralMotors</a> <a href="https://twitter.com/Ford?ref_src=twsrc%5Etfw">@Ford</a>
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1243559373395410957?ref_src=twsrc%5Etfw">March 27, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
After Trump&#8217;s tweet, General Motors released the following <a href="https://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2020/mar/0327-coronavirus-update-6-kokomo.html">statement</a>:
<blockquote>Ventec Life Systems announced today General Motors will build VOCSN critical care ventilators at GM’s Kokomo, Indiana manufacturing facility with FDA-cleared ventilators scheduled to ship as soon as next month. This effort is in addition to Ventec taking aggressive steps to ramp up production at their manufacturing facility in Bothell, Washington.
Across all manufacturers, there is a global backorder of critical care ventilators capable of supporting patients fighting COVID-19. The companies are adding thousands of units of new capacity with a significantly expanded supply chain capable of supporting high volume production. GM is contributing its resources at cost.
GM will also begin manufacturing FDA-cleared Level 1 surgical masks at its Warren, Michigan manufacturing facility. Production will begin next week and within two weeks ramp up to 50,000 masks per day, with the potential to increase to 100,000 per day.
&#8230;
Ventec and GM are working around the clock to meet the urgent need for more ventilators.  Efforts to set up tooling and manufacturing capacity at the GM Kokomo facility are already underway to produce Ventec’s critical care ventilator, VOCSN. Depending on the needs of the federal government, Ventec and GM are poised to deliver the first ventilators next month and ramp up to a manufacturing capacity of more than 10,000 critical care ventilators per month with the infrastructure and capability to scale further.</blockquote>
“This unique partnership combines Ventec’s respiratory care expertise with GM’s manufacturing might to produce sophisticated and high-quality critical care ventilators,” Chris Kiple, CEO of Ventec Life Systems said in the statement. “This pandemic is unprecedented and so is this response, with incredible support from GM and their suppliers. Healthcare professionals on the front lines deserve the best tools to treat patients and precision critical care ventilators like VOCSN are what is necessary to save lives.”
“We are proud to stand with other American companies and our skilled employees to meet the needs of this global pandemic,” Mary Barra, GM chairman and CEO, said in the statement. “This partnership has rallied the GM enterprise and our global supply base to support Ventec, and the teams are working together with incredible passion and commitment. I am proud of this partnership as we work together to address urgent and life-saving needs.”
GM has not yet released a statement responding to Trump saying that they were &#8220;wasting time.&#8221;
This report has been updated to include additional information.

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