General Motors has not had a banner year. Sales aside, the biggest issue the American manufacturer faced by far in 2019 was a labor strike that some estimate has cost GM upwards of $2 billion. Initiated on September 16th, approximately 50,000 hourly workers stopped working, making the strike the largest GM strike in 12 years. It was also the longest strike in 50 years (within the auto industry) and a massive hit as earlier stated to GM’s bottom line. On October 16th a new labor contract was reached with wages rising 6% during the four-year life of a contract. This equates to $32.32 per hour.
Make no mistake, other manufacturers were watching this scenario unfold, observing the fall-out and no doubt calculating how best to stop the same occurring with their workforce. Ford is one such manufacturer, and it should come as no surprise that just days ago they announced a tentative agreement for [...]