shame on the uaw bosses for endorsing biden.em that he was going to advance a radical environmental agenda that is based ondeindustrializing america. we're seeing the first signs of that with respect to the cars. by the way, in addition to the fact that you've got these others problems with the electric vehicles, now we have a problem this morning, sandra, these car companies can't sell the cars. you know why. people don't want them. somebody forgot to ask the american people what kind of cars they want. they're not buying evs. >> sandra: and they condition afford them with the average price over $60,000. this ire is being directed at president biden. the union is directing this at him and the union issing -- is asking a question here. why is the u.s. government subject subsidiesing these company without requiring stronger pay. we should ask the questions of democrats who keep pushing this. steve, you can tackle that. that's the problem. these are not the high paying jobs in to normal plants, there it was chevy or general motors

, cut from a different cloth from the previous uaw heads. >> meaning what?> he uses terms like billionaires making too much money, fat cats. you haven't heard that kind of language in a long time from the uaw as opposed to profit sharing. >> you think it leads to a higher likelihood that it leads to a strike? >> right the better you do, as shawn fane said, listen, i don't think it should be shared with wall street he uses terms, david, that really resound to me like 1930s labor. >> gm was looking up as we have seen, it has turned lower. >> yeah. i gave you the ebitda number i think it's disappointing >> we'll get a lot from mary barra. >> you gave me short solicit on unilever you had to go about some deal reached by a football player. >> that's what you were texting about. seconds to go and you're worried about saquon still to come -- jim did find this on page six of morgan stanley's longtime market bearer -- >> page five. >> in which he said we were wrong. maybe that's the story later we'll have an exclusive with mary barra of gm. more "squawk on the street

and -- do i think the uaw is going to endorse donald trump?, but to jeff's point there is going to be a battle for these working class voters particularly in battleground states like michigan. and donald trump is also trying to capitalize on this rift that has emerged with biden, yes, pro labor and union but pro environmentalist. that has caused a rift between the core constituencies, the push for electric vehicles is something that has roiled uaw and one invest i think so they've criticized biden over. they've withheld their endorsement of biden for now. i think part of that is they're trying to get more of a commitment from biden as they head into critical labor negotiations. but it's certainly not a constituency that democrats can take advantage, take for granted. >> nodding your head. >> for sure. i think biden realize that's if he's going to win michigan and wisconsin and pennsylvania and a number of other states he he's got to appeal to the union votes. he talks about how he's the most pro union president. how union workers are the best

why is the uaw saying the biden administration is getting this wrong?t and foremost, uaw would like to see the economy grow because they want a bigger piece of the economy. is the biggest boondoggle in history of mankind, without a doubt. it's going to be -- we are going to look back 10, 20 years and say this was the most amazing self-inflicted economic wound in history. >> sandra: hold on, explain why. >> outside of adopting communism as your official -- because -- >> sandra: a lot of people listening are going to say i have an e.v. and i like my e.v. >> that's good, that's good. if you bought it fine. where we are going with this dictates -- 7500 is not enough to lure enough people in, and that's just federal. go to california, another 7500. at some point they will crack down on combustion engines, they have to, that's the only way to get near the targets they set for themselves, it's just mind boggling. x amount by 2030, x amount by 2050. they have to force us to do that. >> sandra: 67% of the market of new cars to be electric by the year 2032, the a

the uaw, i think there is a heightened risk of a strike.hat there's a great deal of unhappiness among the members at the uaw about the two-tiered system that was put in place there we just heard a report on your air that general motors is making money hand over fist. they're going to have to come forward with a very generous proposal to the uaw's members in order to avoid a strike there and, of course, we already have two strikes going on in hollywood right now. i think the studios absolutely blew it and misunderstood what the actors and writers wanted and the offers that they made were just chintzy, inadequate and will have to rethink what they're doing and figure out the competition in their industry, they're cutting each other's throats between the networks and streaming services and others, and they're going to have to give a fair deal to workers. workers are active now they are ready to strike corporate america will have to think differently about the way they deal with their workers >> hey, scott, i'll give the last word to you, what

the president of uaw say they are prepared to strike.ers, actors, 321,000 americans could be picketing this summer. as for the ripple effects on the american public, a uaw strike could mean fewer cars being produced. a work stoppage is going to have a delay effect on the tv shows and movies you love, but nothing will be as disruptive as a teamsters strike at u.p.s.. contract negotiations between u.p.s. and as drivers representing with the teamsters union are running into some issues, heightening the odds of a strike at the beginning of august. according to both u.p.s. and the teamsters 95% of the contract has been negotiated. the final hurdle is increased wages. the negotiations have already sprung some winds for the workers. u.p.s. agreeing to install air conditioning systems in new delivery vehicles. u.p.s. also agreed to eliminating two tiered we system among the drivers. so with 330,000 u.p.s. workers represented by teamster, says would be the largest strike against a single employer in all of u.s. history. it would also be the first

we will get auto sales numbers there's news on the uaw big three. night swift warning on q2. can catch us any time, ywreju lteanhe, stisn to and follow the "squawk on the street: opening bell" podcast. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. >> time for cramer's "mad dash" as we count down to the opening bell >> you can put up the chart of nvidia or lennar they're the same, except for lennar is the home builder and nvidia is the most important chip company in the world. citi has a terrific catalyst watch on, which says the large builders are doing better than the small buildsers, and new home sales are gaining on existing, especially a year over year comparison, very good i would also add that the fed's increases have failed, because it didn't raise the long end the long end is still very -- mortgages are still very cheap, historically many, many are brought with cash, but there's a scarcity, and these guys built far fewer than they should we need to have two million built in order to, you know,

that could remake the uaw if they had a plan -- maybe they do . it is unclear.ey had a plan for organizing those automobile parts, that would double the size of the uaw. in i.t., it is also maintenance. and that is a skill. for instance in robotic factories or robotic -- robotically organized warehouses, those sheens -- those machines have to be maintained. the people in the shops for they maintain those things are crucial power, a strategic power. that is what strategic is about, these particular chokepoints in any industry or plant. amy: we're going to talk more about chokepoints and part two of our conversation. we are talking to john womack, legendary historian and labor organizer. his new book "labor power and , strategy." he is professor emeritus of latin american history and economics at harvard university. he is the author of "the mexican revolution and supportive -- zapata." democracy now! is looking for feedback from people who appreciate the closed captioning. e-mail your comments to outreach@democracynow.org or mail them to democracy now! p.o. box 69

we have to worry about the macro environment into the second half of the year and the uaw negotiationshich is a tense period for the auto industry i think a lot of observers are looking at the aggressive stance from uaw and try to figure out if they will try to look more and they have zooming in on stellantis and history >> one of the stories is ev sales up in the first half of the year the growth has slowed from last year where higher gas prices were catalyst. where do you see the ev transitioning going forward as rates rise and possible recession? >> there are a lot of ways they will accommodate to make it more attractive to leasing. we have seen this in europe as well it is true in the u.s. the surprise in the u.s. is the i.r.a. subsidies have strengthened demand more than what we see. at the same time, there is not a lot of supply. >> phil lebeau mentioned something i found to be surprising the rivian r1t is the best selling electric pickup truck. the ford f-150 pickup truck is still the best combustion engine truck. tesla is the best selling ev maker, but more cars move to evs and

we know the uaw are itching for a fight. jim was to clear about the whole matter. it was up nicely and then back down when barnes prematurely dismissed any worries with this fiery uaw leadership. a strike could be in the cards no matter how much cooperation moore things there might be. now you have the most important season category. you have the continued excellence you have the first good quarter. you have the last bad quarter. you have the first bad quarter and you have the confusing quarter. i know it seems cumbersome. that is truly behind-the-scenes that fund managers use. you just have to figure out what you got your hands on before you do any buying or selling. there are a lot of different grades of excellence. after a bit truly put up good numbers. microsoft, less so. only because of the lofty expectations caused by a staggering one in the stock. what i called mr. softy. lori in massachusetts. >> how are you today? >> i am good. how about you? >> i watched a show about a month ago, like i always do every day. on that show, you mentioned some generations the

the key here is to keep in mind is you look at the uaw talks.hile a lot of this is the established in internal vehicle business, and what is happening, for ford, gm and so lantus, they want to close the pay gap between themselves and the automakers, their u.s. plant but look at tesla, the estimate is that tesla is all in. hourly wages is $45, for the big three. you see the difference. three things are going to be key in the uaw contract. that contract ends in mid- september. job guarantees because it takes fewer workers to build an electric vehicle, cost of living. they would like those added into the contract, easy to see why given what we saw with inflation in the last year. finally, what the autoworkers would like to see is an end to the wage tier level that was put into effect as the companies came out of the government mandated bankruptcies , at least stellantis and then chrysler and general motors. basically, ford came in and matched it as well. they would like to see an end to that. bank of america estimate if there is a strike, one week

he is one of the white house person on key issues related to the uaw. >> the is -- to get people into electric vehicles, though? >> i am not going to get into specifics. i am letting you know chief sterling has been a contact here and will ensure the administration coordination across interested parties and among white house policymakers, that conversation continues, we work hand in glove with the acting secretary of labor. i do not have anything else to share beyond that. we have someone coordinating, helping to coordinate some of these conversations. i am not going to get ahead of that. >> [indiscernible] getting closer to ukraine, undermine america's reputation as a human rights defender around the world? >> we believe our reputation of being human rights defenders is something we say all the time. when it comes to human rights, having those conversations with either our partners or other -- the president never shies away from having those conversations. jake said this when he was here. we have to remember what is happening in ukraine. ukraine is defending itself, ukraine thing --

i wouldn't be surprised if we see a strike given the way the uaw is talking at this point with regardo demand, there's still a lot of pent-up demand out there. you can't deny that. when identify look at the average transactions price even with higher interest rates it is not slowing down as many people expected it to >> phil, appreciate you bringing us the numbers and breaking out the bigger picture for us. >>> all right, thanks, phil. and both tesla and rivian beating expectations rivian also reporting up 60% chris pierce has some opinions he's senior research analyst with needham and today he reiterated his buy on rivian and hold on tesla. what's the dist tinction between the two? >> i look at rivian and see a stock that investors kind of bailed on throughout 2022 because of supply chain issues and they had to constantly revise production numbers lower. with rivian to my eyes it's never been a demand question but can they manufacture these vehicles and get them out to consumers at an increasing pace? and they proved they could do that in q1 investors didn't really take notice it's t

electric cars are simpler to build with fewer parts and the people working will not make as much, the uawthe entire automotive industry, the uaw president also blasting biden's past taxpayer giveaways to car companies to encourage electric vehicle production in the u.s. saying this we've been absolutely clear that the switch to electric engine jobs, battery production in ev manufacturing cannot be a race to the bottom why is joe biden's administration facilitating the corporate greed with taxpayer money and now 25 state attorney general are pushing biden to put his omissions plan in reverse. >> the tailpipe admissions policy were any other policy will destroy a competitive advantage in her economy, that cannot stand. we have to make sure that we take care of our environment but we have to do in a smart and thoughtful way. with the biden administration they want to lack common sense. >> the fallout from all of this is putting a roadblock in president biden's reelection campaign, the union is refusing to endorse biden second run for a second term until they get clarity on where they rank. d

because they are right in the middle of contract negotiations with the uaw. and if they don't reach an agreement, there could be a strike there as soon as mid-september. as we know, there was a strike last time they negotiated with the uaw in 2019. that lasted for 40 days, it cost the company almost $2 a share in full year earnings so we are cautious and we are cautious on their aggressive transition towards ev production growth because we're seeing signs of markets oversaturation in evs. maria: so i mean, initially we were expecting a decline in second quarter profits. do you, gar rest, have you changed that expectation, do you still expect profits will be down in the second quarter year over year? >> no, we've seen signs of strength recently. really what's changed in the past year is that inventory, the inventory situation has improved so you're seeing a lot more inventory on dealer lots. if you look at -- in the month of june, average inventories in terms of days supply was about 53 days. that's almost back to the historic average level of 60 days and so t

i would be shocked if the uaw, which has been incredibly supportive of the democratic politicians inart of where their base of support comes from, which has been supported by joe biden in this, but i think he's trying to drive that wedge and use, quote, unquote, climate change and electric cars in that wedge. but, again, i'd be shocked if the uaw ever gets close to donald trump in an endorsement. >> maya king and matthew dowd, i thank you both for being with us this morning. >>> coming up, new comments from the secretary of state on the american soldier detained in north korea. this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ age is just a number, and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health versus 16 grams in ensure® high protein. boost® high protein. now available in cinnabon® bakery-inspired flavor. learn more at boost.com/tv what do we always say, son? liberty mutual customizes your car insurance... so

he's a throwback to the days when they struck routinely >> the talks officially start today with the uawy the way, quick programming note julia boorsten will interview bobby kotick on 3:00 p.m. this afternoon. dow looks to open up about 240 points we'll get cramer's "mad dash" and the opening bell in a minute what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. >>> if you're just joining us this morning, futures looking pretty good as core cpi monthly, lowest gains since february of 2021, and a 3% headline print year on year that's the lowest since march of 2021, so you'll see a lot of headlines today of inflation growth at a two-year low opening bell is coming up in about five minutes and you can catch us any time, anywhere, just listen to and follow the "squawk on the street: opening be

and i think the uaw is the one to watch i think it's going to be vicious. vicious.act is, unions are back the u.p.s. breakdown in talks, that's not going to resolve itself in any way that makes you feel that fedex shouldn't be bought >> yeah, when i covered airlines, they were all very powerful by the way, speaking of airlines -- >> these guys flirted with a system that was very much like what you got in countries that -- i don't want to say communist countries, because that would be too strong flirted with communism >> sure. it's definitely collective power. >> look at this stuff this guy is saying. he's saying, listen, it's time for the rich to take a hit >> right we mentioned the airlines. jim, do you have blue throwing in the towel on this american partnership? sfi about time yeah the airlines -- jonathan kanter is no fan of any of these guys talking to each other. he's the attorney general for antitrust. and he is benign compared to linda "ge"gengis" khan. >> that's your new nickname? do you expect if there is a drawdown in the next few days on the back of thes

the uaw's president said union workers are not afraid to strike >>> overseas, climate envoy john kerryd's top two polluters. >>> later today, india gets ready to launch a rocket headed for the moon for it would become the fourth country to land on the lunar surface. >>> wimbledon will crown its champions. the wnba all-star weekend kicks off. brittney griner will take the court saturday in vegas for her ninth all-star game. >>> and a uniquely american celebration in milwaukee, the harley-davidson homecoming festival celebrates their 120th anniversary with big musical performances >> here here he's angie. >> we'll see severe storms through the middle of the country and the heat continues into the weekend the next couple days are going to be warm and sunny, especially for parts of the southwest, but strong storms s and flooooding popotential wiwill be acrossss e southeast.t. e acroross the southeasast. so it t smells firirst-y fresh h for 50 dayays. 50 d days!? so it t smells firirst-y fresh h for 50 dayays. and d its refill reminder light means i'll never miss a day of freshness. ♪ exper

i was a uaw member in the early teen 70's.stopped horrible labor practices but the downside is they drive up prices for consumers. the big companies will still make money as they are priced out of the market. that is why we lost jobs being sent out of the country and detritus in the shape it is because of the. guest: there is a concern that if workers get more they will be not competitive. competitive industries are about how productive the industry. you can sustain high wages by having productive workers that have the latest technology investments. the counterpoint is germany, their workers get paid more and they have been successful over many years because their union had the strength to ensure that the companies were making investments so the workers could be productive enough to enable companies to be profitable at the height wage rates. unfortunately the u.s. victory said we can avoid paying the high wages, we can move to the south and to other countries and spin off parts. as strong as the uaw was, it wasn't able to orga

that's the problem going on in the auto industry with the uaw turning somewhat ugly against the autothe screen writers, the actors, the teamsters, uaw -- is this labor's last stance >> i think everyone feels emboldened by the fact that we have a president that says listen, we're pro labor. you won't have the president easing anything. like the railroad strike the army will not take over. >> biden's economic policy is about strengthening labor, so to speak. and it plays out on the antitrust front as well. that leads me to of microsoft/activision >> good segue. >> tomorrow midnight is when microsoft has to close the deal or increase its consideration to buy activision from the $95 share cash deal it has in place. that's when the deal expires we're focused on the uk, the cma as we have been for some time. the ftc lost again, they did not get a stay in the 9th circuit. the u.s. is not an issue at all in terms of closing this deal. where it is is the cma it matters -- it won't matter necessarily to what's going on in the uk. jim is referring to the fact that sony said we'll take the deal

i do worry about the uaw strike and the empowerment of labor. good for union members. bed for a cheryl horror look -- a shareholder. down enough? i think the topic is not overarching. how about the resurgence of ips. i like my approach. it is empirical. remember the theme this week. keep it simple. the same categories are as simple as they get. joe in new jersey. go. >> hello. i follow the fundamentals you talk about to the t. and i would like to retire early. thank you so much. >> their ego. that is what the show is about. let's go. >> my question is on energy. a high dividend. is it a buy? >> the answer is yes. i change my mind. why? we have so much demand. i have to admit that the yield is good in. kelsey warner put together a decent conglomeration of pipes that work. dave. >> how are you? >> the chill man is in the house. >> love it. jim, i have been riding this stock for a little bit. it has come down off of it highs the last couple months. by about 20 bucks. i want to know if i should keep riding this pony or look for another thoroughbred in the same sector. my s

the last auto workers strike was back in 2019 when 48,000 uaw members at general motors walked off the a new highly restrictive abortion bill approved in iowa is headed to the governor's desk. it would ban most abortions in that state as early as six weeks. that's before most women know they're pregnant. the bill does include exemptions for miscarriages, when the life of the woman is threatened, and a victim of rape or incest if reported within a certain number of days. next on "the lead," jake, this clearly has potential political impact. the interesting thing is it is not just unpopular but even in the state of iowa based on recent polling. >> yeah. it's interesting and it is a wild card for the november 2024 elections. these restrictions go well beyond where the rhetoric of many in the antiabortion movement, they call themselves the pro-life movement, were saying in terms having some restrictions. these are close to all-out bans, although the iowa bill has more exceptions than other legislation we've seen on the state level, including in florida. what is interesting is, of course, a

i do want to know whether ford is going to talk about whether there's a more of an issue with the uawn cal talked about being an issue with teamsters. very important to watch that, because when you look at the way gm traded, it started going down when mary barra, the ceo, glossed over the union issue that's a big mistake reminds me of the 1930s uaw, which we don't want. we also didn't mention what charlie scharf did at wells fargo, the ceo with the best capitalized bank has added a $30 billion buyback. people just basically say, you know what we should be focused on is bank west. >> you mean that deal? >> the deal. >> it's a little deal. >> well, but it was center bridge i thought you would have followed that a little >> warberg and center bridge, talking about bank of california and pacwest getting together, which is helpful to both of them they brought in new capital, which is more helpful overall with private equities stepping up to buy shares of bank of california 21.8 million shares of common at $12.30, 10.8 million shares of a new class of nonvoting common equivalent at $12.30 a

alexandria ocasio-cortez did an interview with politico saying that she was in toh with the uaw and saidbig ask was for the white house to stay out of it, and to not intervene. that was their message. sometimes the workers are just asking not even for help but not put your thumb on the scale. that makes it harder. >> and look, this is a president who has long been allied with the labor unions, an important part of the democratic coalition, will he stay out? that's an interesting ask, probably not a reasonable one, from the white house's perspective. this is a test for the president. this happened in 2022 as well, as they moved on legislation to avert a railway strike before the holiday season. that could have been detrimental to the u.s. economy as well. they have to take this seriously. there are signs the economy is improving, but something like this could really torpedo things and that will inject a level of uncertainty into this political environment. >> the railway strike they had some standing to get involved in that because there was this federal law that allowed them tooz to do s

we hear about ups going on strike and some of the other things that are out there with united in the uawre uncertainty that i've seen eyes been at this 52 years and i've seen more uncertainty now that i've ever seen in our country and running corporations across the broad sector. very much so. >> i would arrange these variables do sometimes you think a train is going to this destination and end up going to a different destination and they scratch their heads afterwards. it's always a pleasure. bob nardelli. i would ago to a wealthy guy and very in full winchell guy and a big ron desantis supporter in donor and right now ron desantis depending on the pull is not looking too strong depending on the pull and south carolina for example the florida governor has fallen to third place. i asked how the same question and he always swatted away as should he worry should ron desantis worry, what do you think. >> there is not a worry but a poll is a snapshot in time as we've always said is very, very early. we looked at polling in 2008 hillary clinton would've been present instead of barack obama. n

realistic timeline they want him to slow it down to make it less catastrophic to the industry, the uawisrupt the entire automotive industry, president biden is caught in the middle between unions and his green goals putting a wrench into promises he made to be the most prounion president ever but also the most climate progressive president ever the united autos workers that represents gm, ford represented still link this was an ev factory and will employ as many people because electric cars are simply rebuilt with fewer parts in the ev battery factories will not pay the same wage for workers that they are making now, warning that biden is leaving workers behind in the push to go green the president of the group lasting biden's taxpayer cash giveaways to encourage ev production in the u.s. saying we've been absolutely clear that the switch to electric engine jobs, battery production another ev manufacturing cannot become a race to the bottom, why is joe biden's administration facilitated the corporate greed with taxpayer money all of this is putting a block and president biden's 2024 re

the uaw are -- they're thinking about striking.'re talking about with a potential strike. even broadway, they are potentially going to strike. and if you look at, this is a cornell report earlier this year, the rikes in the u.s., up 52%, and that was before what i just mentioned is going on, and jeff, as somebody who's on the trail a lot, do you think that is part of what's going on, that it's the gulf between the haves and the have nots that is keeping people bitter? >> no question. the rising gap between the different sort of ends of the spectrum of the workers scale and the management scale, it's huge. this is something that -- i mean, it's one of the reasons that explains the populism rise out of the country for donald trump and other politicians. there is this growing chasm there. that's why joe biden is trying to be the president for the working man and woman. that's what they're trying to do. it's repetition, repetition, repetition on the economy. it will take a while for people to sort of feel better about it, but most of t

i was just with president shaun feign this morning, the president of uaw. very, very valid. he's saying, the government is giving billions of dollars to these companies, big three, the automakers, they're making tremendous profits. workers shouldn't just be paid $16. they should be paid the wages they were paid when they worked in the auto industry under electric vehicles. i met with the folks at the teamsters union. they're saying look, when you have part-time workers, part-time workers shouldn't just be making $13, $14. these aren't the u.p.s. drivers who come to your house who are often paid well. these are folks at airports and warehouses and they're being treated awfully. they need to be paid fairly. and then, the actors and writers, i have been out with them and what they're saying is 87% of them make less than $26,000. pay them so they can at least afford to get health care. >> you know, congressman, i want to go down industry by industry. we'll start with the actors. one of the key issues, you know, when we talk about autoworkers we say, hey, automa

. >> stuart: the uaw is talking about a new contract.ly attendants at american airlines talk about a strike july 28th. all coming down summer of discontent. >> pete: white house might say settle this on terms favorable to the union because i back them. >> stuart: that i would like to see. >> pete: watch this guy stuart varney american built monday night on fox business. in about an hour and a half on fox business. we will see you. thanks for being here. >> stuart: thank you, pete. >> pete: great to see you. coming up governor sarah huckabee sanders join us live from the southern border this morning. piers morgan and dr. marc siegel will be here as well. house democrats walking out of a committee hearing to avoid listening to a doctor detail what the realities of gender reassignment surgeries. >> i would like to show a video a brief interview that was conducted by an expert in gender reassignment inch move that the committee adjourn. this has turned into a circus. >> pete: they don't want to hear it. kat cammack shows how extreme democrat

> negotiations formally kicked off today between the united auto workers and detroit carmakers, the uaw president vowed to be aggressive in bargaining. >>> higher prices are expected to strain back to school sales, parents with kids in grades k through 12 spent $600 with stocking on new school supplies and clothing. it's a 10% drop from last year. first time deloitte has expected a decline since 2014. >>> domino's announced it will now put its menu on ubereats. domino's driver will ultimately deliver the food. the program is expected to roll out nationwide by the end of this year and guys, not just the tasty development perhaps for consumers but also for stock holders were shares of domino's up 10% on this news today. >> i guess if you're going to be a pizza company you kind of have to deliver -- dm anywhere. they're big on getting it to you fast. we'll see if that maintains with the app. >> they talked about sluggish growth. maybe the scale of having more delivery apps in the mix changes that. >> all right, morgan, thank you. >>> coming up, the cleanup under way right now in vermont af

when it comes to thinks like the uaw and teamsters, his authority is more limited, so it would look differentlike the teamers president sean o'brien coming out repeatedly and saying, biden, please don't intervene. so this is still a concern among some unions and progressives. >> yeah. and as we're watching this balancing act, they're out there touting bidenomics, but a lot of the, quote, unquote biden onlyics funds have gone to states and centers that don't require union dues or supports. so talk about how that calculus is playing out here too. >> yeah. this has been the main criticism of the united autoworkers toward biden. they said you're doling out billions in subsiies to these companies in places like right-to-work states, right, or without requiring, you know, more labor protections or higher pay. this is something that he is, you know, getting criticized by not only the union but lawmakers. progressive lawmakers meeting last week peppered biden officials about this, asking basically how do we make sure these jobs we're creating are good-paying union jobs. you know, there are some, i th

the uaw needs to get out in front on the news comes out with headlines that are looked at negatively as it relates to the auto manufacturers the vehicle manufacturers really can't say much so unfortunately at least for the next month the stocks are probably dead water, but i think when you look longer term, i mean, this is the first time you're coming out where you don't need to restructure cost, product or balance sheets. and the companies are spending money to accelerate growth as mary barra just mentioned on the vehicle side and electric vehicles are coming. and in north america, it's probably going to be more on the pickup truck and van side which is the strength of general motors and ford. >> i like your subtle analysis here, michael. i mean it. i guess if i'm going to put it in my words, it's that gm is better positioned today because things aren't as bad as they usually are. >> that's a good way to put it that's exactly right one of the reasons why the stock has been stuck in that rut is because in downturns they perform poorly including going bankrupt in general motors case.

they do have someone involved right now in the uaw negotiations with the big three auto manufacturersvolved in this. one way or another, if it's before strike or after a strike, they do believe that they can reach some sort of deal. just timing is so, so key here. >> countdown clock is ticking. >> thank you. >> thank you. >>> just in this morning, a new warning from doctors there could be a troubling side effect from this very popular new weight loss drug. >>> and really remarkable video. a baby in south texas being rescued from a hot car. the parents accidentally locked their keys inside the vehicle. frantically then trying to get in. you see the father smashing the front windshield, trying to get into the car. the temperature in the area was hovering around 101 degrees at the time. a woman was able to climb through the broken glass, get inside the car, get the infant, hand the baby to dad. police say the baby is doing fine. no charges filed here. ♪ r 50. it's lying dormrmant, waiting... and could reactivate. shingles strikes as a painful, blistering r rash that can last for weeks. a

my guess is it's not rallying at this point and we're all going to pay attention to the uaw.s the country, all of those things may be good for many people but there's very little doubt they also fuel wage inflation we need to pay very close attention to that. joe, all yours >> so no change -- bookbar said we're going in march no matter what no change in that probability? >> it's dropped a little bit but we've gone from basically 88, 89% where it's been hovering we lobbed a couple to maybe 86%. i have cheeseburgers bet with steve liesman and i don't think they ought to go but it's very hard for me to think they're going to be dropping that 86% any time soon. they seem to like to make sure the market and federal voting panel are in sync, as they seem to be. i think the real issue is september and i think year from september. >> so where should fed funds be? what should we assume about core it's in a downward trend and how much do we add on core to get to the fed funds? where should they be given what we've just heard today, what's the number where they should feel comfortable w

elizabeth: you know, the uaw doesn't like electric cars either because their workers don't make enoughit's great for unions, labor unions are saying, wait a second. you know, sir, biden today touted bidenomics. monmouth just delivered a brute am poll, 52% -- brutal poll, two-thirds disapprove of him on inflation, seven out of ten say the u.s. is on the wrong track. but now you're going to see biden today -- let me just back up. the white house press secretary, kjp, dismisses the polls saying they don't show the whole truth. your reaction to that. [laughter] >> they don't, they don't like what they don't like. i mean, this is pretty straight forward. the american people are, they're pretty wise. they pay attention. they know what's happening to wages, they know what's happened to the price of goods out there. they go to the grocery store. they understand that this has been driven by policies in washington, d.c. that's driving up inflation. they know that. and president biden and his people can get out in front of the american people and tell them, you know, come up with another cool wor

american has a tentative agreement with the pilots union let's shift with the big three automakers uawill start with general motors this week the next month will agree on easy stuff the membership numbers here with 150,000 all together for the big three. the big three issues are preserving jobs, especially as the automakers transition to electric vehicle manufacturing which requires fewer workers and cost of living adjustments and wages and ending the hiring ti re tiers. people were not coming in at the same rate as the other workers there was a path to moving up to top pay. those are the three issues there. if you listen to the rhetoric as you look at shares of gm, ford and stellantis, the rhetoric is clear from uaw they are looking for a big deal. a deal that gives their membership a lot of what they gave us over the last 12 years frankly, they also want a big bump in pay. they looked around the rest of the world, not just manufacturing, and they said a lot of people got raises the last four years. we want more that's at the heart of the discussions that will take place in detroit th

the president of the uaw is, uaw's up for grabs. trump spoke with them. biden spoke with them. they're trying to win them over. i still think in the end this is going to be okay, because democrats do get it together, but, you know, these states are concerning. how you asked questions about the third-party candidate matters a lot. >> well, you know, i feel really good about the third-party states. again, i feel good about the third-party states because donald trump did worse in them in 2020 than in 2016. and in 2022, you look at all of the swing states. they broke. a lot more for democrats and that they did for republicans. the same, not bed-wetting. what do we call it? the same ptsd. >> yes. >> gripped the democratic party. all we heard, willie, the red wave. >> hand wringing. a good one. >> oh, there's going to be a red wave. i don't -- mika does it seem like a red wave to you? she said, no, it doesn't seem -- >> validate how you feel. >> i validate how everybody feels. okay? willie, here are the thing. i will say this. i'm glad the democrats are panicked when the sun comes ca

mexico's doing so well and by the way, we have a possibility of a strike in uaw the idea of you bringingcounter to the whole notion of what's supposed to happen with the -- with the unions and with the three different giant infrastructure projects we have in this country. but mexico is ready. and by the way, the biggest winner will be that ksu canadian-pacific merger that we don't talk enough about, because wow, that's a powerhouse that's how you get the stuff up here >> right and listen, we also continue to try to focus on the chinese economy. it's the world's second largest economy. obviously, great importance. and very difficult to measure just how bad things are. >> yes >> you hear anecdotes, but it's -- and there's a lack of information that even more so than there had been. >> do you have read nick's stuff? >> sometimes >> i went to college with nick he's just brilliant. and one of the things he says is that if you want to measure a regime, what's the growth rate what's the birthrate you see what's going on with china versus india the birthrate is on the decline. the death rate is

teamsters goes, what if uaw big three go out there's a paper out today that u.p.s.he costliest strikes in the century. even though the percentage of labor that is on strike right now is nowhere near where it was in, say, the '60s or the '50s, you know, you get to 2%, 3% of labor on strike, you'll start to feel it. >> a lot of people think that's another inflationary force in our economy, if they're forced to negotiate bigger wages at these grand scales and the question is, why labor has so much power? it was always tight labor market there are more openings than people, workers. they're enabled, they're empowered. we're still seeing that across the economy. it's clear as we continue to see groups of people go on strike. >> something else we discussed, iger and i, of course, was the relationship between the state of florida and disney. such an important part of the state, essentially, and certainly its economy, to a certain extent today there's a hearing in the case against disney by that governor, desantis, the special tax district here's what ig her to say about th

. >> it does raise the issue of other strikes and potential strikes taking place the uaw, whether there president getting involved >> first of all, you have the most pro-union president in recent member hi it's important that the president recognizes that unions are key to work gettence by that one one is to run a very tight labor market and we've seen them. the unemployment rate has been below 4% in over a year and a half and 13 million jobs created, about 800,000 in motor vehicling. we have an adjustment agenda, also a pillar of bidenomics that's helping to provide growth and there are unions pro kentucky, absolutely stay out of them, particularly a to. >> what do you expect on friday just in terms of wage growth that's one of the very important con tomorrow ont yes, do let me instead talk about what we've actually seen in it. we node the fed watches this very carefully because its come possession adjusted unlike the numbers on this friday and so we have this unique situation where the plasht is cooling it woor trm and so now they are beating cpi and it's real wage gain for american w

have to make sure the macro clears up over the last couple of months and that we reach agreement with uaw an industry because there is obviously uncertainty around that in the eyes of investors but we are focused on executing and getting a deal that works for our people and rewards them for their tremendous work. jonathan: we've only got a couple of minutes left but i have to get this in. subtle indicators worldwide that ev demand is tailing off. i'm asking this question to you as a cfo. how do you manage the risk of a massive investment cycle and a huge push wholesale going into ev not working out and in five years to 10 years consumers don't want this stuff. we see greater efficiency through hybrids or even fantastic sustainable fuels. how do you manage the risk, paul? paul: i think is equate -- a great question but when i look at our portfolio of vehicles with great internal combustion and a growing ev business off the platform where we designed them from the ground up, a lot of the ones on the market are traditional ice vehicles where companies put a battery solution into it. it's not

-- not saying they don't deserve them, but 40% over four years is meaningful you had the teamsters, uawto be watching those negotiations carefully if those get set as high as the airline pilots are, it seems to me they have more work to do >> you've been waiting for this recession that the -- you know, the bond market's been signaling for forever at this point, waiting for the markets to kind of fall into that slump, and at the same time, we've seen this crazy melt up. how do you make sense of that? >> well, listen, i think, first of all, the economy's more resilient than we expected you could say, you know, we're early, but that's like a euphemism for wrong. so the economy is clearly more resilient than we thought. also, though, i would say if you look at the stock market this year, if you look at the s&p 500, during the week of silicon valley, the s&p was up 0 -- it was up 58 basis points in early march for the year-to-date as soon as silicon valley bank failed, the market took off, and that was largely because the fed stopped quantitative tightening, injected a lot of money into the