As Ford grapples with nearly $1 billion in elevated expenses from suppliers due to inflationary pressures, those same suppliers have been unable to provide parts for nearly 45,000 trucks and SUVs, forcing them to be left unfinished in the third quarter.Read More
Major U.S. automaker Ford blamed its sizable investment in electric vehicle (EV) company Rivian for its dramatic revenue decline in the first quarter of 2022.
Ford reported revenue of $34.5 billion between January and March, a 5% decline relative to the same period in 2021, and a net loss of $3.1 billion, according to the company’s earnings report released Wednesday. The Detroit automaker said its large investment in Rivian accounted for $5.4 billion in losses during the first quarter.Read More
While rank-and-file union members embraced President Trump, virtually every major union endorsed Joe Biden. A quietly issued Labor Department regulation helps explain this disconnect. President Biden has put union leaders first — even at the expense of union members.
Late last year, the Labor Department rescinded Trump Administration union transparency regulations. These regulations would have required union trust funds — like apprenticeship funds and strike funds — to disclose their receipts and expenditures.Read More
After intense negotiations, the United Auto Workers secured a new agreement with Ford, General Motors, and their suppliers that effectively prohibits a vaccine mandate for employees by requiring only “voluntary” disclosure of vaccination status for union members. This hard-won validation for workers points to a larger opportunity for the America First movement and organized labor to acknowledge that they are natural allies.
On critical issues ranging from medical privacy to border security and foreign trade, the emerging populist and nationalist consensus of the New Right creates an obvious home for unionized Americans. The America First cause can, in turn, help revitalize private-sector unions and guarantee a more prosperous society for our country, with a stronger middle class through a better diffusion of economic and political power.Read More