u.a.w. and general motors have failed to reach agreement on another 4 years of paying conditions the company says it's made a substantial offer that includes improved wages profit sharing for members and investment to create new jobs but the union wants more for workers who helped rescue g.m. from the brink of bankruptcy a decade ago. on the picket line strikers feel they're over due a better deal. our time to get. a little bit. take care. if those amazing looks like we're all war and everyone's coming together as a lunar this is a community. bring justice to all the workers who have been hired been working for years and still make the same with some temporary employees more than 30 factories in america's auto making heartlands have been affected by the strike as well as a further 20 other facilities such as warehouses union hasn't said how long the action will last talks restarted on monday in a new drive for an agreement. u.s. drug maker produce pharma has filed for bankruptcy the company produces the painkiller oxycontin one of the medicines at the heart of the u.s. crisis with the move p

something and there's that whole thing now there was something else about this story that isn't getting as much attention as the strike itself so. some u.a.w. executives and some general motors executives are under investigation for embezzlement among other things what's going on with that so how do you guys noticed how the u.a.w. president the current one hasn't been in the press at all ghosted ghost is busy and drinks and donuts in the back sort of or he might be kind of just sitting on his couch while the f.b.i. rates this home that to. happen again so well on august 28th the home of president . gary jones rape his home was raided by the f.b.i. in detroit they seized a golf clubs and $30000.00 in cash allegedly he was staying in luxury hotels golf outings steak dinners with champagne and cigars and we could all use living a very lavish lifestyle allegedly also on that same day out in california it was the former president dennis williams now as this is all going on ok the top. official who's actually been at the bargaining table in detroit vance peter humi vance pierce and he is going to court later this week down in missouri on money laundering charges so there are feder

and on september 15th the u.a.w. once again called for a strike that now has over $45000.00 workers picketing the auto giant and the days following the strike to kick off general motors has stopped paying their share of health benefits for employees and are pushing the cost onto the union and what many are calling leverage against the strike however it isn't stopping workers who are now seeing temporary nonunion workers often called scabs brought in the plants and threats of arrest here is u.a.w. member shawn crawford with a view from the flint michigan picket lines over a decade after the historic plant set in everybody has been showing your support we appreciate it. they're talking about possibly arresting dictators right now for blocking traffic in preventing scabs and what is the plan with truck assembly. joining us now for the latest on the u. a g.m. strike is r t america correspondent fair and proper thanks for joining me here a lot has happened since i was here on monday right it's incredible how much you know what's taken place last $40.00 just up on this and actually a bit of a question is how much could this costing general border motors how much could the

and economy master i along -- moving along give workers confidence. desire on both sides to avoid a strike. for general motors it would be disruptive. unclear if the sales with be regained. u.a.w. and members it is costly and they want to see job and a successful company. so both sides want to avoid a trike but it is clear the possibility of a strike is much past reecein the -- arrest past and it is the saying they are prepared could provoke a settlement before sides want to avoid that. thank you for your expertise. i.p.o.'s.k about ome are coming even if we discu discuss. we have a provider of research. [inaudible]. set the expect for us. even though we worry about it is high i.p.o.'s there are plenty along.rs coming >> we have seen some good signs. e have seen some i.p.o.'s bolster price range and some of hem are indicating they were higher. o after quiet summer and problems the market is coming a busy it could be september. >> when you look at sort of i drama going on action we it with have soon in uber, lyft and -- and ve seen in uber, lyft some of the most watched i. pfppi.p.o.' what is aying more oing on here in the second d -- secondary market or how they are being valu

and job security. the strike impacts more than 50 general motors plas nationwide, and the company stands to lose hundreds of millions of dollars as it continues. while negotiations continue, the u.a.w. is calling today "solidarity sunday" and is asking the public to join the picket lines to show support for the striking workers. phoebe wall howard covers the auto industry and labor for "the detroit free press," and she the strike.w for the latest on so i understand that democratic presidential candidate elizabeth warren joined the picket line today. how did her visit go? >> well, from what we understand, she actually met with labor leaders prior to meeting with members, and when she derioit, she met primarily with members.ou it wasn't giving a speech. she made slight remarks, perhaps not even ten minutes.re but hu of people, ndreds, came to this location,s and her remacused on what she said holding general motors accountable.by anhat, members say, this bailout during themiceived a downturn from taxpayers, and today is seeing record profits as executive wages continue to grow. the workers say, uh, you know, it might be time to revisit their benefits, and their pay as well. >> thomps

report today as 46000 workers a general motors bring production to a halt at 55 plants across the united states the current contract between workers represented by the u.a.w. and bosses at g.m. expired saturday night and the decision to extend not to extend the previous agreement and extend instead strike was made by a unanimous vote of the u.a.w. regional leaders u.a.w. workers are determined to draw the line on wages health insurance cost increases and management exploitation of temp positions the action by u.a.w. workers does not affect their status under existing collective bargaining agreements with the other 2 of the famed big 3 u.s. automakers.

u.a.w. president walter walter ruther a serious response to mike wallace well you'd have a very difficult job convincing ford workers and chrysler workers and general motors workers who are unemployed that they don't risk anything but they don't suffer a loss when the company's in band in bad condition they also suffer but here's the thing you need to understand that this principle is being applied in seward in general motors in chrysler's the executives are carrying in the profits now they're not sharing in the profits as stockholders they're sharing in the profits as employees because they run the company but they're still employees they're high paid employees. over 60 years later at 11 59 pm on sunday september 15th 2019 nearly 50000 members of the united auto workers union went on strike shutting down some 33 manufacturing plants and 22 parts distribution warehouses from michigan to texas. and profit sharing low wages and exorbitant c.e.o. salaries are at the core once again joining us now from more on the story is r t america correspondent ferran fraud sack thank you for having me on welfare and well this is a home it's amazing to see problems you kn

today as $46000.00 workers a general motors bring production to will halt at $55.00 plants across the united states the current contract between workers represented by the u.a.w. and bosses at g.m. expired saturday night and the decision to x. to a not to extend the previous agreement and extend instead strike was made by a unanimous vote of u.a.w. regional leaders u.a.w. workers are determined to draw the wine on wages health insurance cost increases and management exploitation of temp positions that action by u.a.w. workers does not affect their status under existing collective bargaining agreements with the other 2 of the famed big 3 u.s. automakers ford and chrysler g.m. workers so any gains despite describe the work mood among workers you'll hear another know. you say we. gave. our to keep this company running and now this company is making record profits they're making now off our labor they don't want to even give any bag what they want to take and that's not right this after betrayed. experts say both sides will feel pain from a long strike u.a.w. workers have a strike fund of $850000000.00 from which they will receive $250.00 in weekly strike wages meanwh

and speaking of autos, here in the united states, general motors and striking united autoworkers remain far apart in their talks to resolve a strike. a top u.a.wsticking points. among them, wages for entry-level workers and the treatment of temporary employees. nearly 50,000 g.m. workers are on strike. it's estimated the walkout is costing the automaker $50 million a day. global news 24 hours a day, on air and on twitter, powered by more than 2700 journal sandizz analyst in more than 12 countries. this is bloomberg. tom: thanks so much. let's do a data check. we want to get to professor shiller here, a lot to talk about on the american social economy. futures at negative four. dollar stronger over the last number of day, off of saudi arabia. the next screen, both oils. west texas, brent crude with a dash to 69. we didn't get to $70 a barrel. we pulled back in the last hour. as well.n, 108 francine: european stocks are drifting. again, investors weighing the fallout from the drone attack on the oil facility in saudi arabia, and what it means for the price of crude going forward. treasuries up with the dollar. i'm also looking at pound weakness,

u.a.w., what did they hope to achieve? >> i think they basically wanted to end the two-tier wage system that started ten years ago duringhe bankruptcies of general motors andthe auto companies were on their knees, the workers helped them get through it by giving concessions. what the.a.w. wants i to get some back. you have g.m. and the other auto cos on the other side that basically want to eliminate the gap between them and the feign auto-makerbecause it's still more expensive for theau makers to make vehicles in this country than toyota and the other foreign-makers. >> it's unusual for g.m. to tal about what's on the table while talks are going on, they said they offered investments ito two being idled. hamtramic they want to build elecic pickups and lords town new battery cells with union workers. are these ing to be able t likely geto the numbers and have comparable jobs that were there before? >> i think it's unlikely. if youlook at when they made the announcement that they were idling these plants, the one in ohio and one in michigan, these are political footballs in some sense because you're talking about thousands of workers and you have politician