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The Latest Breaking News from Mary Barra

With Auto Strike Over, GM Announces Big Share Buybacks

General Motors announced hefty new initiatives Wednesday to return billions of dollars to shareholders, lifting its stock price as it estimated the recent labor strike hit at $1.1 billion.

International Business Times

GM Stock Soars, Leads S&P 500 On 33% Dividend Hike, $10 Billion Buyback, Renewed Guidance

GM stock rallied Wednesday after the automaker announced big shareholder returns and reinstated 2023 earnings guidance following labor strikes.

Investors Business Daily

GM boss Mary Barra’s high-tech bet unraveling after Kyle Vogt departs as CEO of embattled Cruise robotaxi unit

Kyle Vogt departs the company he founded, marking a stunning fall from grace for a tech startup that only this summer celebrated a major victory for the fledgling industry.

Fortune

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GM’s Cruise CEO resigns amid concerns over driverless car safety

Kyle Vogt exits as Twitch co-founder Emmett Shear appointed as interim boss of OpenAI

The Guardian - UK

General Motors just pulled the plug on Cruise

As if ongoing struggles from the UAW auto strikes aren't enough, GM is shuttering a nationwide experiment.

The Street

Taxpayers Bankroll Electric Vehicles Even as Fewer People Buy Them

Ford and General Motors have tempered plans for E.V. production, but governments still spend billions of dollars in incentives.

Reason

Toyota has an important warning for electric vehicle enthusiasts

Despite major investments in EVs, automakers have been sounding the alarm.

The Street

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Major automaker makes a surprising move with its electric vehicles

A collaboration announced last year is no longer in the works.

The Street

California hits pause on GM Cruise self-driving cars due to safety concerns

Decision is latest instance of regulatory agencies expressing concern over safety of autonomous vehicles.

Al Jazeera

GM Ditches Goal Of Building 400,000 EVs In North America Through Mid-2024

GM is reworking its North America EV strategy and will no longer challenge Tesla's lead in the US EV segment amid slowing EV sales growth, higher labor costs.

InsideEVs

General Motors earnings blast forecasts, but $200 million a week strike costs torpedo 2023 outlook

GM said the historic UAW strike action is costing it $200 million a week, forcing it to pull its 2023 profit forecasts despite better-than-expected third quarter earnings.

The Street

GM’s Mary Barra is charging ahead on EVs and navigating the UAW auto strike. It’s a valuable lesson in playing the long game

Barra is an example of an executive who has found success by sticking to her mission.

Fortune

A Raise for Auto Workers May Imperil Biden's Electric Vehicle Ambitions

The president voiced support for the union's goals on the picket line but companies are already struggling to build fuel-efficient cars that Biden wants to prioritize.

Reason

Biden is right to praise the auto strike. His climate agenda depends on it

The president has a golden opportunity to prove that green jobs will bear dividends for the working class

The Guardian - US

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Barchart

The UAW Strike Could Get Nasty: Use Friday’s Unusual Options Activity to Profit

The UAW strike spread to 5,600 more workers on Friday as they walked off the job at 38 General Motors and Stellantis parts distribution centers in 20 states. In midday trading, investors are taking it all in stride.

Politico

Biden and Mary Barra are buds. It could affect the strike.

CEO Mary Barra is helping Biden unleash waves of electric cars. That could color how the White House responds to the UAW strike.

The Independent UK

General Motors CEO confronted over her own $29m salary amid UAW strike

Union argues wage rises haven’t matched company profits

The Independent UK

UAW justifies wage demands by pointing to CEO pay raises. So how high were they?

The United Auto Workers union has made CEO pay a central part of their argument for a big worker wage increase

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Politico

‘No defensible argument’: Anger boils over at CEO pay

The historic UAW strike puts an exclamation point on more than a decade of efforts by Washington lawmakers to narrow the pay gap between top executives and workers.

The Guardian - US

‘We build those cars’: US workers on Ford picket line demand a fair share

Horns blare in support of strikers outside the carmakers’ plant in Wayne, Michigan, as union members attack ‘corporate greed’

Salon

UAW goes on strike for first time ever

"CEOs gave themselves 40% pay increases in the last four years," United Auto Workers president Shawn Fain said

Barchart

UAW Strikes: Unusual Options Activity Suggests Investors Don’t Care

The United Auto Workers went on strike at midnight Friday. It is the first time the UAW has simultaneously walked out at all three of Detroit’s big automakers. The unusual options activity for the three automaker’s stocks suggests investors don’t care. That may change.

WEKU

The UAW launches a historic strike against all Big 3 automakers

For the first time ever, the UAW launched a strike against all Big 3 automakers at once, starting with three locations in the Midwest.

WEKU

Autoworkers are on the verge of a historic strike

Less than two hours before the strike deadline, United Auto Workers revealed the first wave of plants to be targeted if the union and the Big 3 automakers fail to reach a deal just before midnight.

WEKU

Sky-high CEO pay is in focus as workers everywhere are demanding higher wages

As autoworkers' real wages fall, top executives at the Big Three carmakers continue to earn tens of millions of dollars each year — hundreds of times more than the median employee.

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