High inflation rates in the last four years likely pressured Boeing (BA) workers to demand a big wage hike. On Monday, workers are asking the company to offer a 30% general wage increase over four years. It called this its best and final offer.
Boeing is offering workers a $6,000 ratification bonus, better retirement benefits, and a performance bonus, provided they accept the deal by Friday.
Boeing may not have the funds to offer the 30% wage increase. Airlines are canceling orders amid the aerospace firm’s quality issues. On September 6, Boeing Starliner had to return to Earth, stranding its astronauts. The two astronauts will be rescued in 2025.
Struggling automotive firm Stellantis (STLA) continues to manage its strained relationship with the United Auto Workers. UAW President Shawn Fain accused Stellantis of breaking its contract promises. Fain is organizing strike action among its union local chapters.
STLA stock bottomed at $14.76. The company is searching for a candidate who would replace current CEO Carlos Tavares. His contract will expire in 2026.
After failing to break out above $50.00, General Motors (GM) risks pulling back this week. Bernstein analysts warned that the firm faces earnings headwinds. GM may announce more capital requirements at its capital markets day next month. Also, the firm may report higher inventory as dealers fail to close sales on high-priced vehicles.
