![]() This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Also poised to profit: Intermodal rail, a shift that is already happening as shippers schedule alternatives to UPS.Ībsent a strike, shipping rates will continue at their current low level. UAW strikes against GM date back to 1936, when workers in Flint, Michigan, occupied a key plant from December 1936 to February 1937. They carry smaller freight than traditional truckload companies. LTL, or less than truckload, companies should also benefit. If a strike were to occur, you could expect parcel shipping rates to jump by 10%, as capacity is strained at FedEx and other parcel delivery companies. General Motors employees voted overwhelmingly in favor of a deal struck by the United Auto Workers. Failure to ratify the tentative agreement, which addresses disputes about wages and benefits for part-time employees, could mean another strike threat looms. Bill Pugliano/Getty Images The longest auto workers’ strike in 50 years is officially over. Union members need to vote to approve the new contract. Why it matters: The United Auto Workers (UAW) union has been threatening a strike as it begins contract negotiations with GM, Ford and Stellantis for deals that expire in mid-September. Meanwhile, the Teamsters and UPS averted a possible strike, for now, when they reached a tentative agreement on July 25. General Motors raised its earnings outlook Tuesday with one giant caveat forget the whole thing if its hourly workers go on strike. The automaker claims the strike cost it $3.6 billion that year. During the last round of bargaining in 2019, a breakdown in talks between automakers and the union resulted in a 40-day strike against GM.
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