it was on the closing list until gm and the uaw worked out a deal to reopen it, spend over $2 billion and refurbish it for a new generation of electric vehicles. just to be the official grand opening of that plant. so having a vip there for that grand opening certainly brings a lot of attention to what gm is doing. >> and the president wanted to bring attention to the investments in the infrastructure law when it comes to electric vehicles. you could run through what is if there for ev? >> the biggest thing in there for ev is a $7.5 billion for charging stations. now there are a number of charging stations out there now. there are also a charging station pulled out by independent commercial vent ires. there is one venture called electrify america that part of the volkswagen cheating segment. so there are a lot of ev stations going up but these will be particularly allocated to underserved areas, for example rural areas where there may not be a commercial reason to put an ev charge there. a company wouldn't necessarily make money with these. but you still need to refuel in places like

uaw members ratified a new labor strike. there's an 8500 signing bonus.here's a 6% pay bump in the first year, and a series of sequential bumps after that. workers get a 3% bonus every other year. it goes on and on. it basically tells you that labor has the grip on the situation at the moment, which i think is such a big turnaround from the last few decades. let's get an idea of what all of this is telling us about these markets right now and what you can do in terms of your investment decisions. metals and agricultural coverage here at bloomberg and bloomberg's process it reporter writing a fantastic piece about inflation this morning. well worth the read on the bloomberg terminal. joe, uaw one, deere zero. is that the correct way of interpreting the situation? joe: if you talk to the company, they probably feel what they won because they are back at work. but whether you're talking to analysts or anybody else on the market, they feel at the workers finally got paid. i remember when the second of the three deals failed, i was kind of asking around the ma

uaw workers are working on a deal that would double wages and enhance retirement and long-time bonuses for employees. sure to be relief for farmers. union workers will vote tomorrow >>> the astros played with their backs against the wall in game five of the world series but it was the braves who struck first. duvall's grand slam made it a 4-0 ballgame astros would respond trading the lead until gonzalez scored two they don't look back and the astros get a 9-5 win game six in houston tomorrow night. >>> a big halloween weekend with celebrities and their families check out lizzo as grugu and brought a big surprise performance to spotify party and then play sleeba >> and gabrielle union's daughter joe jonas dressing up from the lizzy mcguire film >> throw back. >> speaking of throw back, bill c karins >> the halloween forecast was pretty nice coast to coast now, as we start november. this weekend, we change the clocks and fall back sun set will get really early about a week from right now. we have some rain from the west coast. a weak storm with rain and snow. eastern half of the country,

ten of the 16 facilities that employ uaw workers across the midwest are seeing lower activity this asdeere's surging stock price over the past jeer and ceo john mays' 168% rise in total compensation over theers could of the pandemic as to why workers should demand more at a time when the jobs market remains incredibly hot especially this the industrial sector where a shortage of labor remains a big challenge and higher orders for dirt-moving equipment orders are expected to go up. >> didn't expect this to be the place for labor issues to explode. why not. mondelez and kelg kellogg have experienced the same lately. if the workers are holding out for more, what options does deere have >> that's the question, does this represent a moment where workers are in the driver's seat the second offer suggests they do because they got 10% wage hike, a ratification bonus of $8,500 it was a better deal but here they are saying look at the profits deere is expecting to make this year, we deserve more. >> seema mody with the latest. >>> as we mentioned deere shares under treasure today that does it f

>> it's all union uaw all day long that's what it is. >> they have a contentious relationship with theion. >> can they do that? >> they can do that. governments pick winners and losers all the time. >> this last bill basically says if you're a uaw automaker we're sub subsidizing you. >> it's not just tesla, they're picking on it's toyota. >> how does the administration say we're leading the charge on e.v.s and not invite tesla it's the elephant in the room. >> tesla has done well with the government subsidies over the years. it's done well between the state and government subsidies. >> government is in bed with tesla, why not admit it? bring them into the white house. it's very strange. for two political parties trying to pretend to the american public that these things don't matter, it all comes down to what you think about each side we're not going to get anywhere. >> i had a conversation with somebody who's very close to the situation, who was explaining to me, the administration's view is twofold one is the uaw, but the other is if you can advantage, frankly, the other automakers a

uaw contract agreement shows commitment to john deere's workforce.rt of the inflation, wage inflation which is maybe not quite there yet. lisa: yet yet that they are benefiting from what we were talking about, the demand for food has reignited the demand for good. interesting to see their 2022 production sales expected to be 20% to 25%. net sales in the fourth quarter are looking lower. tom: it is a mixed fixture. -- mixed picture. let's move onto this pandemic. thanksgiving will not be as stressful as last thanksgiving, but certainly the losses, the injury, the harm we have seen the last few months. bhakti hansoti joins us, professor of associate medicine. a major pharmaceutical company just stated this is trending towards endemic. for amateurs like me, that says all clear. are we all clear on covid? bhakti: absolutely not all clear, absolutely not and he endemic -- and not endemic. tom: it is radio and tv so you have to give longer answers. [laughter] the leader of new zealand said we still have a challenge here and a problem. we all know each and

taper has been telegraphed acceptably i think there is inflation yesterday we talked about the new uawned a deal. i think we will see more and more labor inflation, whether a union deal or wages going up without a union. i don't see that as transitory some of the butottleneck in supl chain could be transitory. i feel like inflation is really here how do they think about inflation? what makes them confident of this transitory nature when to me it seems to not be transitory for so many reasons. whether or not they taper, i don't think that matters, they will, but it's more about what they will do about rates and when i don't think they will give us that answer. >> and what the heck is transitory >>> we have breaking news about the covid vaccine. >> melissa, cdc's outside advisers voting whether to recommend the kids' vaccine ages 5 to 11 for pfizer a unanimous vote, 14-0 in favor of recommending this vaccine it was authorized by the fda friday now it goes up to the cdc to accept it which it was expected. now kids 5 to 11 are eligible for vaccines we expect them to give them starting tomo

the united states, including our own, are produced by manufacturers who are not represented by the uawose plans at the same time offer competitive wages and benefits, have a culture that our team members within these plants keep voting the unions down. it seems to me very contrary to the goal, which we have agreed to, to achieve a 50% mix of electrified vehicles by 2030. yet, this tax law as proposed, eliminates over half of the manufacturers. for a consumer that would prefer to buy a toyota or tesla or riveon or lucent, they should have that ability and not be disadvantaged by a $4500 tax advantage which is clearly centered to support general motors, ford, and another international company. matt: thank you for joining us. great to get your time. bob carter, executive vice president for sales of north america for toyota. talking about the ev production crisis and the politics that may interfere with the markets. coming up, we will speak to the pfizer chairman and ceo albert bourla on the back of their earnings as they prepared to vaccinate kids. this is bloomberg. ♪ >> we welcome the b

uaw signing a six-year contract.e other day we spoke to someone with a dual degree from wharton, a hugely prestigious thing that wharton literally invented. another great dual degrees in america is you take french at william and mary and attach it to something else. seth carpenter did that with our french and francophone studies program which is worldwide acclaimed. we are thrilled that the gentleman could join us today. i think down at the fed, help me here, but they speak greek. jonathan: maybe the french would help on the resume, along with working out the fed, working at the treasury. some people are saying, and i asked this very delicately, would you be interested in the role that people are talking about connecting you with at the federal reserve? [applause] [laughter] -- the federal reserve? [laughter] seth: i always blush a bit when i hear those stories. i don't have any information about that. [laughter] jonathan: maybe they like the idea you have for next year. why q1? seth: when i think about ellen zentner

tomorrow he will with in michigan talking to uaw workers talking about how this will impact their lives. they're the one that's will be working on green energy and clean energy vehicles. and so he is going to be talking about how this is not only going to create jobs but help to fuel the economy. but the pressure is on and of course, a lot of skepticism about the second piece of his agenda. i know that garrett will go into the details about that, will americans in these key swing states see improvement. >> and garrett, to you, what about the legislative agenda? what about the scheduling that you heard today, yourself, from the leaders. thursday, friday, the rules committee may have to meet again? >> always take the other, but in this case they made it clear they will not go home for thanksgiving which usually would have been thursday or friday this week. that means that we're waiting on a cbo score. they swear in blood with the president's backing, wac it matters a great deal in the senate where senator joe manchin is watching and rating. >>. >> i think it is seeing what the real score

the union president saying in a statement -- uaw john deere members did not just unite themselves, they seemed to unite the nation in a struggle for fairness in the workplace. >>> the pandemic has made our world more virtual, hasn't it? from staff meetings to birthday parties, even funerals and it's here to stay, but the technology keeps moving. next stop, hole ograms, life in 3-d, helping to bridge the distance between the physical and virtual worlds here's contessa brewer. >> macau, the gambling mecca of the world, and sands is welcoming guests with a superstar. soccer celebrity david beckham is sands' global brand ambassador even in a patterned with international travel shut down -- he personally promotes sands in china through a hologram. >> it's a big thing to have a technology like this that enables me to interact without being there. >> reporter: the technology allows whitney houston to appear on stage posthumously for a concert. hosts. forget wewebexand zoom. >> london calling. you look so beautiful. >> oh, my god. this is absolutely incredible. >> a leading hologram technology

guy: the uaw certainly talking about that exact point as they secure their deal from deere.wrap it up there. thank you very much for your time today, cameron dawson, and of course, bloomberg opinion columnist brooke sutherland. we are going to carry on the conversation. we are going to talk more about what is happening with the food price story. american households are about to eat their costliest thanksgiving dinner ever. that is if they are able to find a turkey to begin with. apparently, inventories are at a 37 year low when it comes to frozen turkeys. we will discuss food prices with a consultant to the food industry, barry friends, pentallect partner and founder. that is coming up. this is bloomberg. ♪ guy: this is "bloomberg markets ." coming up, giancarlo carniani. this is bloomberg. ♪ 44 minutes past has laid out plans to steer the country through the rest of the pandemic and positioned germany as a climate leader. he is preparing to succeed angela merkel as chancellor. after two months of talks, social democrats reached a deal with the greens and the pro-business fr

. >> yeah, we haven't really mentioned the deere uaw agreement, but 10% pay hike in year one, multiplethe further out years. $8500 signing bonus. that is what happens when you get collective bargaining in a market this tight. we'll see to what degree that translates into tech as well >>> gopro is in the green. jpmorgan upgrading to buy. shares up about 12% in a week. an nvidia is up more than 120% since january. our next guest says buy now. we'll talk about that in a minute it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. - [narrator] introducing the grubhub guarantee: our promise to deliver the food you love on time, and give you the lowest

but if you buy an electric vehicle under the proposed incentives from a uaw plant like the one he was at oday, the potential ev incentive is $12,500. that's a huge difference, and the non-union automakers are saying wait a second, that's not fair that's a $5,000 discount when people are looking for an ev >> with gas prices so high, how much does that push people to start thinking maybe an ev is for me >> right now, it's probably not having a huge impact remember, there's a limited number of evs for sale right now. and most of them are starting at a higher price point, $45,000, $50,000 and much higher. so they're not as gas price conscious as those who are buying a lower priced model. where we notice the impact is with gas/electric hybrids, like a prius. that type of buyer is more likely to say i want something that will give me some savings >> the carman, phil. good to see you. thank you. >>> joe biden's trip to that electric vehicle plant comes as gas prices are soring. right now the average price is $3.41 according to aaa up $2.12, more than 60% increase from a year ago. he's callin

receive a 10% wage increase in the first year, 5% jump in the third and fourth year of the deal the uaweks ago, will continue while workers review the terms of the deal ahead of a vote to approve it >>> more headaches this weekend as american airlines canceling more than 1,400 flights, the airline blaming staff shortages and weather for the moves. does expect to get through the issues, quote, soon. cancellations by american followed by those at southwest as the airline industry gears up for a busy holiday travel season. >>> leaders at the g20 summit signing off on the new global tax framework setting a 15% minimum tax on companies well, the biden administration may have gotten world leaders on board and may face a more difficult tax of winning over congress here in america ylan mui spoke with treasury secretary janet yellen, on how she plans to accomplish that she joins us with more from that interview. >> reporter: sealing this deal has been a top priority for treasury secretary janet yellen. she's won over the world leaders, including the finance minister of ireland. and today she's v

. >>> welcome back after a month-long strike, deare and the uaw reached a deal sending 10,000 workersk to their jobs seema mody has been following the story and joins us now with the latest. >> kelly, it was a struggle. john deeree had to go back three times to the negotiating table last night, 61% voting in favor of the performance based targets and an improved pension plan, which is what this worker says he's most supportive of. >> the pension program is -- again, it might be the best literature on the contract and for us, i think that it was enough to get us to vote >> jeff, along with 10,000 union workers that were on strike across illinois, iowa, and kansas for the last five weeks will go to work today or tomorrow and get that 10% wage hike and bonus it will cost $83 million the company reports earnings next week. we are watching shares higher at 1% right now cnh industrial, its chief rival in the agriculture equipment space has union contracts that are coming up for expiration, kelly, starting in spinning 2022 this labor strike conversation is not over yet. >> what was the labor

against in a statement after the vote, the john deere ceo wrote through the agreements reached with the uaw.5 billion in our employees to significantly enhance wages and benefits >>> the hogwarts school of witch craft and wizardry for years only one of two way interests. on the hogwarts express strain on the king cross strags or pages of books then the movies. huge hits bring in billions worldwide leading to spinoff and theme parks. backup but there is a new generation ever kids that missed out until now. in london here is nbc's matt bradley. >> reporter: even if you believe in magic. >> very curious. >> you might not believe it's been 20 years since the first harry potter film brought it to life. >> happy birthday. >> and convinced millions of muggles that they can be which is wizards. >> and tiktok harry potter has over 80 billion views. the franchised inspiring theme parks plays stores and shows in the u.s. but here in britain, the magic is rising again like a phoenix there is a wand installation in lester square. a new behind the scenes photo exhibit. and a bar just for butter beer chee

on wednesday i'll be in detroit to meet with uaw workers building the next generation of vehicles. and that's just the beginning. we're also seeing -- you'll be seeing me and vice president harris, jill and doug, cabinet officials hitting the road to help you understand how this is going to transform your lives for the better. and folks, when you see those projects starting in your hometowns, i want you to feel what i feel. pride. pride in what we can do together as the united states of america. folks, you know, the saying goes for my plan to build back better for the people, getting folks back to work and reducing cost of things like child care, elder care, housing, health care, prescription drugs and meeting the moment on climate change. i'm confident that the house will pass this bill and then we're going to have to pass it in the senate. and that's fully paid for. it will reduce the deficit over long-term according to leading economists in the world and again, no one earning less than $400,000 will pay a single penny more in federal taxes. and together, together with the infras

how the uaw uld cohit farmers in their wallet "the exchange" will be right back (animal drumming in distance) drums! drums! aaaaaahhhh! at least geico makes bundling our home and car insurance easy. we save a lot. aaaaaahhhh! ohhh! (loud drumming) animal! aaaaaahhhh! for bundling made easy, go to geico.com. uh-oh... your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? sure thing. up top. high thryv! payments? high thryv! promotions? high thryv! email marketing? almost there, hold on. wait for it. high thryv! manage my customer list? can do. will do. high thryv! post on social media? hash-tag high thryv my friend! get a free demo at thryv.com. ♪ >>> welcome back thousands of john deere workers have

the uaw thinks it should, but there are a lot of plans of plants that do not have unions that do notthat idea. that is probably the biggest issue brewing right now. now the question is, did gm tell you if they are going to make an electric or that? he hinted that a couple of years ago. gm would not comment, but it has been a major rumor. host: maybe we will learn more in the president's remarks. it is set for 4 p.m. eastern. you can watch it at c-span.org or the video app. a couple of colors have been waiting to chat with you -- callers have been waiting to chat with you. host: al, ohio. caller: i am having trouble, i am trying to replace the batteries. the lowest price to replace the battery is $15,000. people ought to think about that. like i said, three years, that is all they are. it makes me wonder. i am going to go back to gas. guest: i would also suggest that -- did you say bolt or volt? caller: the price of the battery is -- host: bolt like bear or volt like vulture? guest: if it is a chevy bolt, which is a pure ev, those are being recalled. gm is replacing the battery. the i

how do toyota employees compare relative to pay and tesla workers and uaw workers?e to the industry standards we participate in the same labor pools. so there is no disparity, material disparity in pay. in fact, rye teenly over the years, our associates and our team members have been asked, would they like to unionize, organize and our team leaders are very satisfied with their compensation and benefits andrew teenly have voted down the right to organize, it's completely up to our team members of what they choose the workplace to be >> bob, i have one other question for you the chip crisis and it really hits you guys in the third quarter after not having as much of an impact in the first and second quarter where do things stand as you come out of october? and how much did it impack your ability to supply dealerships in the month of october >> phil, the september and october was the bottom of our availability crisis through the chips. we're seeing some clarity and improvement as we move into december and september we sold 146,000 units last month, that closed last ev

our safety record is two times better than when the plant was uaw and everybody already get healthcareden's concerns. he said it is clear while this was written before president biden was in the white house. president biden cares more about a union shop than he does demographic and what about president biden and the handlers in the terms of the messaging that is there. infrastructure bill was backed by the union and not part of the challenge. if you look at the record so much better than the union plan. if you look at the record for the get the factories in nevada and what will be opened up around the world, the pain better benefits and a lot more upside. they will do augmentation better than anyone else. looking tesla factory there is a lot going on and everybody has a lot of input on the line if you normally would not of god with the union being imposed on them. david: to visionaries, you're a visionary but you have elon musk and jack dorsey. real visionaries that created the whole industries. good to see you. thank you very much. why chuck todd is taking president biden task over th

on wednesday i will be in detroit to meet with uaw workers building the next generation of electric vehicles. that's just the beginning. you will also be seeing me and the vice president harris, jill and doug, cabinet officials hitting the road to help you understand how this is going to transform your lives for the better. and folks, when you see these projects starting in your hometowns, i want you to feel what i feel, pride, pride in what we can do together as the united states of america. folks, you know, same goes for my plan to build back better for the people, getting folks back to work and reducing cost of things like child care, elder care, housing, health care, prescription drugs, and meeting the moment on climate change. i'm confident that the house will pass this bill. and then we are going to have to pass it in the senate. and it's fully paid for. it will reduce the deficit over the long term according to the leading economists in the world. and, again, no one earning less than $400,000 will pay a single penny more in federal taxes. and together, together, with the infrastructur

retirement resulted in a groundbreaking contract and sets a new standard for workers not only within the uawhere in america. >> reporter: oh, absolutely, because, remember, robin, there is still a huge worker shortage across the country right now. that's what was happening with these john deere employees. they were doing a lot more work during the pandemic, so a lot of experts believe that many companies, they're just going to have to increase raises in order to keep all of their employees. >> all right, gio, as always, thank you. >>> we're going to turn now to the countdown to black friday and the big question are the big retailers ready? our chief business correspondent rebecca jarvis is tracking how they're doing. good morning, rebecca. >> reporter: good morning, george. just moments ago macy's and kohl's announced they expect this to be a stronger holiday season than they forecast a few months ago and no empty shelves. some of the biggest retailers in the country say they've been able to sidestep the supply chain crush by planning ahead. target announcing overnight it has 20% more invent