Biden praises UAW-Daimler Truck agreement as a ‘testament to the power of collective bargaining’
CNN
President Joe Biden praised the United Auto Workers and Daimler Truck for reaching a tentative in the eleventh hour Friday night, preventing a potential strike affecting 7,300 workers.
President Joe Biden praised the United Auto Workers and Daimler Truck for reaching a tentative in the eleventh hour Friday night, preventing a potential strike affecting 7,300 workers. “This agreement is a testament to the power of collective bargaining and shows that we can build a clean energy economy with strong, middle-class union jobs,” Biden said in a statement Sunday. The “record contract” includes raises of more than 25% over the next four years, inflation protections like cost-of-living considerations, and the first profit-sharing deal in Daimler history, UAW President Shawn Fain said Friday night on Facebook Live. Daimler is a major manufacturer of trucks and buses, responsible for producing Thomas Built buses, one of the most popular brands of school buses in the United States. CNN has reached out to Daimler Truck for comment. The tentative agreement comes on the heels of increased momentum for the UAW. Earlier this month, hourly workers at Volkswagen’s plant in Chattanooga, Tennessee, overwhelming voted to join the union, a major breakthrough in the union’s effort to organize workers at plants nationwide.
The Justice Department on Tuesday notified Boeing Co. that it breached terms of its 2021 deferred prosecution agreement, under which the company avoided criminal prosecution for safety lapses in exchange for paying $2.5 billion in penalties and promised to improve its safety and compliance protocols.
We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. It was a 2021 phenomenon — the climax of a zero-interest rate-fueled euphoria that pit Robinhood hobbyists against Wall Street’s elite, a financial David vs. Goliath, etc.