united auto workers, the airline pilots. united parcel service all getting higher wages. this is not something that the fed wants to see at this point because, clearly, they are going to want to raise prices across the board with the alternate consumer, whether it is retail or business. >> what should investors pay more attention to? the number that we got on friday where wages are concerned or what we can see unfolding before us with the autoworkers almost certainly going on strike, asking for some really big numbers, 40% raise and perhaps more likely than ever to get them because, ups drivers did so well. >> exactly. and, this is a side pressure on the market. the treasury market is going to be picking up on this. wages are going higher. we will probably start to see prices climbing even more. we started to see prices paid components of the and being factoring in the iis and service center starting to inch higher. but, that is nothing compared with what could happen as the autoworkers get higher wages. the car prices are high enough, new car prices are high enough coupl

united auto workers strike could be crippling to the auto industry >> yeah, good morning, guys.certainly could be absolutely crippling. one must remember that it's because the united auto workers or uaw is going to make this strike to all three of the major auto manufacturers that is unprecedented and unheard of it's usually just a strike of one of the manufacturers much like in 2019. one must remember that back in 2019, that was a 42-day strike which cost gm quite significantly. but the power then of that strike, perhaps one could say wasn't as significant as this could be, because this may be a major deterrent to the industry. and maybe looking at contract expirations for september 14 of course they will want new contracts. and this is going to be based on the high profits these auto makers have been making. they really want to see, the uaw, then, wants to see the higher profit that the auto makers have been making to filter to the workers. that will be quite significant also interesting to note that anderson economic group says a ten-day stoppage could cost $5 billion u.s. th

united auto workers union's contracts with ford, general motors and others expires september 14th. >> preparations are underway across southern california right now to brace for a category 4 tropical storm known as hurricane hilary. the city of san diego's emergency operation center is open in preparation. the center's going to be tracking the storm and monitoring its progress over the next couple of days. communities around southern california are bracing for the possibility of record rainfall and potentially dangerous flooding emergency response crews say that they're going to be prepping before the storm and when it hit. >> soldiers will be doing a lot of important work throughout the storm. >> they always have. and this is something that we have a lot of experience. long beach has been vulnerable events like this. in the past, we had hurricane norbert hurricane debris. we have a locally or flooding from the storm cover. these firms have been successful in mitigating and managing the risks of the threat with homes that facing our coastline. so the point is, is that we're continue t

economy and a potential work stoppage threatens to bring the auto industry to its knees after united auto workers, members overwhelmingly voted to overwhelmingly voted to authorize a strike. (warehouse ambience) introducing togo's new french dip sandwiches featuring fresh artisan bread piled high with tender roast beef, smothered with melty provolone cheese and served with hot au jus for dipping. try the roast beef or pastrami french dips today only at togo's this van just hit me out of n. i thought i was dead. after the accident, i was in a lot of pain and i decided that i needed to . i called jacoby & meyers they had their own dream team . they took care of me like a q. i would recommend you call jacoby & meyers they really went to bat for me. if you've been in a seriousacci. call jacoby & meyers, justic. >> a potentially crippling strike for the auto industry looms after members of the united auto workers union authorized a walkout, union representing some 145,000 car assembly employees has been negotiating with 4 g m and stellantis for the better protections that they want as well as

members of the united auto workers voting today in favor of striking at the big three de-treat auto -yst that covers all three. s in next. closing bell, 26 minutes away and up 30 points on this friday. volatility falling, no fear for a market's economy. ♪ liz: okay, the freaky friday headlines continue. we're just getting in, grocery delivery company instacart officially filed paperwork today to go public on the nasdaq. the stock is going to trade under ticker kimball cart in ths revenue hit $716 million in the last quarter and now let's just remind you. this is a highly anticipated ipo and comes at a time when the ipo market has been particularly slow all though with arm, the chip marker that soft bank is taking public, that's kind of jazzing things up. we've covered kava as well and we'll be watching this closely. it has been a summer of strikes and the united auto workers union could be next in line to walk out. just a few hoursing a, uaw announced 97% of its members voted in favor of a strike if current negotiations don't pan out. uaw president said the potential strike targets th

her story featured in a united auto workers union video monday as nearly 150,000 members across the u.s. continue voting to authorize a strike. the work stoppage could begin in a matter of weeks. if the big 3 detroit automakers, ford, gm and stellantis failed to reach a new four-year labor agreement before the current contract expires. according to the michigan-based anderson economic group attend a u a w strike could have a total economic loss of more than 5 billion dollars yet. hundreds of u a w members rallied together at the union solidarity sunday analysts say the probability of a walkout is high with the unions. fiery elected president shawn fain advocating for a list of demands among them a more than 40% pay raise for workers. reinstating cost of living adjustments, ending tiered wage systems and implementing a 32 hour work week. these are our demands. he's come straight from the membership. fame has taken a stern approach with the big 3, literally throwing away offers from stellantis. want file it. >> its proper place because that's where it belongs. the trash for general motors

. >>> has united auto workers moved the boat, will ford and gm be stuck in neutral? to the ballot box we go, next. (fan #1) there ya go! that's what i'm talkin' about! (josh allen) is this your plan to watch the game today? (hero fan) uh, yea. i have to watch my neighbors' nfl sunday ticket. (josh allen) it's not your best plan. but you know what is? myplan from verizon. switch now and they'll give you nfl sunday ticket from youtubetv, on them. (hero fan) this plan is amazing! (josh allen) another amazing plan, backing away from here very slowly. (fan #1) that was josh allen. (fan #2) mmhm. (vo) for a limited time get nfl sunday ticket from youtubetv on us. a $449 value. plus, get a free samsung galaxy z flip5. only on verizon. >>> when you get to my age, it's always surprising when it's been irrelevant for decades suddenly matters again. take organized labor now, regardless of how you feel about unions, i'm generally sympathetic myself, when you're investing in stocks unions are the opposition more money for workers means less money for you the shareholder, but the

local unions for the united auto workers are going to start voting on whether authorize a strike over their contract negotiations. well, either they're going to and with a negotiated wage hike in more benefits or it's going to and with a strike and that could cost billions of dollars. news nation's emily flynn has the latest. i work 40 hours. i'm wondering how i'm going pay for everything that i 4th generation. ford employee sarah sham burr's says she can not make ends meet as a single mother with her current income. her story featured in a united auto workers union video monday as nearly 150,000 members across the u.s. continue voting to authorize a strike. the work stoppage could begin in a matter of weeks. if the big 3 detroit automakers, ford, gm and stellantis failed to reach a new four-year labor agreement before the current contract expires. according to the michigan-based anderson economic group attend a u a w strike could have a total economic loss of more than 5 billion dollars yet hundreds of u a w members rallied together at the union solidarity sunday >> analysts say the

today 97% of united auto worker members voted to authorize a strike if a new deal is not reached. that could bring a work stoppage at general motors, ford and so launches formally chrysler. they are demanding a 46% pay raise, pensions and a 32 hour work week, it could leave a big dent in automakers bottom lines. during last negotiations a 40 day strike cost three and half billion dollars. >> india's lunar rover is walking the moon searching for a life. it's that's down this week marking the first time in the country has been to the moon's south pole. it will be there for 14 days collecting data. one goal is to determine if there is oxygen and hydrogen on the moon which could help us learn more about the possibility of life. it also could tell us if it holds water and precious elements. >> back here on earth, the 49ers are getting ready for their final tuneup. alive look at the sun signing down on levi station stadium. you know, you've got it pretty good. streaming this much stuff was never this easy. yes! nice eye thingies. they're collagen boosters. switch to gig internet on the

coming up, united auto workers demands possibly forcing u.s.armakers to nearly triple the hourly cost for union wages. this is bloomberg. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com jon: this is bloomberg markets. i am jon erlichman with matt miller. time for our stock of the hour. the automakers shares at gm have been lower the last four sessions as the united automakers union is calling for changes that could add more than $80 billion of expenses. the union wants a 46% wage increase, restoration of pensions, cost-of-living increases, and shorter work week and better retirement benefits. a lot on the agenda and the market is pa

they're ready for change groups of united auto workers, union members gathered in the parking lot outside of stellantis is detroit assembly complex as 150,000 union workers throughout the country concluded voting to authorize a strike against the big 3 automakers. they wore red for solidarity and marched around the block chanting and holding signs supporting their negotiations with the big 3 ford, gm and stellantis have been tense this year. and if they are unable to reach an agreement with the u a w that could cause more than 5 billion dollars in economic losses. we spoke with some of the workers at the event to stress the importance of supporting each other as these negoti tions continue. we're all in this together. >> across the not just we're not just fighting for us. we're fighting for all working people. you uw has built the middle class we've gotten away from that. some of the union's demands include more than 40% pay raises for workers, reinstating cost of living adjustments, ending tiered wage systems. and a 32 hour work week. this is our moment. is our generation defining moment

well, today the united auto workers will know how many of its members are willing to strike if contractrs, local unions have been voting this week on whether to walk out when their contract expires next month. news nation's emily finn has the story. we're already getting results back. and several locals are 98%. it's. >> well, the members are they're fed up. they're ready for change. groups of united auto workers, union members gathered in the parking lot outside of stellantis is detroit assembly complex as 150,000 union workers throughout the country concluded voting to authorize a strike against the big 3 automakers. they wore red for solidarity and marched around the block chanting and holding signs supporting their negotiations with the big 3 ford, gm and stellantis have been tense this year. and if they are unable to reach an agreement with the u a w that could cause more than 5 billion dollars in economic losses. we spoke with some of the workers at the event to stress the importance of supporting each other as these negotiations continue. we're all in this together. >> across the

well, today, local unions for the united auto workers will be voting on whether to authorize a strike over their contract. >> negotiations could end with much higher wages and expanded benefits for workers or a massive strike which could cost billions newsnation's. emily finn has details. i work 40 hours. >> i'm wondering how i'm going pay for everything that i 4th generation. ford employee sarah sham burr's says she can not make ends meet as a single mother with her current income. her story featured in a united auto workers union video monday as nearly 150,000 members across the u.s. continue voting to authorize a strike. the work stoppage could begin in a matter of weeks. if the big 3 detroit automakers, ford, gm and stellantis failed to reach a new four-year labor agreement before the current contract expires. according to the michigan-based anderson economic group attend a u a w strike could have a total economic loss of more than 5 billion dollars yet hundreds of u a w members rallied together at the union solidarity sunday analysts say the probability of a walkout is high with

kyla today, local unions for the united auto workers are going to be voting on whether to authorize a strike. >> over their contract negotiations could with a much higher wages or a massive strike that could cost billions newsnation's. emily finn has details. i work 40 hours. >> i'm wondering how i'm going pay for everything that i 4th generation. ford employee sarah sham burr's says she can not make ends meet as a single mother with her current income. her story featured in a united auto workers union video monday as nearly 150,000 members across the u.s. continue voting to authorize a strike. the work stoppage could begin in a matter of weeks. if the big 3 detroit automakers, ford, gm and stellantis failed to reach a new four-year labor agreement before the current contract expires. according to the michigan-based anderson economic group attend a u a w strike could have a total economic loss of more than 5 billion dollars yet hundreds of u a w members rallied together at the union solidarity sunday analysts say the probability of a walkout is high with the unions. fiery newly electe

. >> a 44 and today, the united auto workers will know how many members are willing to strike if contractrs. local unions have been voting this week. whether or not they will walk out when their contract expires next month. news nation's emily finn has the latest. >> we're already getting results back. and several locals are 98%. it's well. the members are they're fed up. they're ready for change groups of united auto workers, union members gathered in the parking lot outside of stellantis is detroit assembly complex as 150,000 union workers throughout the country concluded voting to authorize a strike against the big 3 automakers. they wore red for solidarity and marched around the block chanting and holding signs supporting their negotiations with the big 3 ford, gm and stellantis have been tense this year. and if they are unable to reach an agreement with the u a w that could cause more than 5 billion dollars in economic losses. we spoke with some of the workers at the event to stress the importance of supporting each other as these negotiations continue. we're all in this together. >>

it's 6.50, and today unions for the united auto workers.g to strike. so we could see we could another strike. yeah ago, she asians could end either with higher wages and expanded benefits for workers or it could result in massive >> losses that could total in the billions use nations. emily finn has details. i work 40 hours. >> i'm wondering how i'm going pay for everything that i 4th generation. ford employee sarah sham burr's says she can not make ends meet as a single mother with her current income. her story featured in a united auto workers union video monday as nearly 150,000 members across the u.s. continue voting to authorize a strike. the work stoppage could begin in a matter of weeks. if the big 3 detroit automakers, ford, gm and stellantis failed to reach a new four-year labor agreement before the current contract expires. according to the michigan-based anderson economic group attend a u a w strike could have a total economic loss of more than 5 billion dollars yet hundreds of u a w members rallied together at the union solidari

members of the united auto workers and the big 3 automakers. all right. a contract impasse will see the demands and if it's possible to meet them. but first, police are promising to keep businesses and walnut creek safe. for more thats what they say owners can do to protect say owners can do to protect themselves. i'm orlando and i'm living with hiv. i don't have to worry about daily hiv pills because i switched to every-other-month cabenuva. for adults who are undetectable, cabenuva is the only complete long-acting hiv treatment you can get every other month. it's two injections from a healthcare provider. now when i have people over, hiv pills aren't on my mind. don't receive cabenuva if you're allergic to its ingredients, or if you're taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions, post-injection reactions, liver problems, and depression. if you have a rash and other allergic reaction symptoms, stop cabenuva and get medical help right away. tell your doctor if you have liver problems or menta

work or the united auto workers organization.they did is they were able to sort of just figure out how do you mobilize everything from set sororities and fraternities to make sure that you've got, in essence, a large group of people so that you've got a turnout of over almost 300,000 people. geoff: look like today? -- what does effective organizing look like today? janai: effective organizing is something that has roots in the history of the civil rights movement and labor movements and other protest movements. but today is something that has been much more systematized in many ways and has the benefit of the use of technology. and more young people are aware of the power of organizing and are organizing themselves in important ways to to protest, to engage in action. and we saw that spontaneously occur in 2020 in response to the tragic killing of george floyd and breonna taylor and others. and today, the role of organizing is a very respected one. it always has been recognized, but it's been elevated because i think people under

they're ready for change groups of united auto workers, union members gathered in the parking lot outsidesembly complex as 150,000 union workers throughout the country concluded voting to authorize a strike against the big 3 automakers. they wore red for solidarity and marched around the block chanting and holding signs supporting their negotiations with the big 3 ford, gm and stellantis have been tense this year. and if they are unable to reach an agreement with the u a w that could cause more than 5 billion dollars in economic losses. we spoke with some of the workers at the event to stress the importance of supporting each other as these negotiations continue. we're all in this together. >> across the not just we're not just fighting for us. we're fighting for all working people. you know. uw has built the middle class we've gotten away from that. some of the union's demands include more than 40% pay raises for workers, reinstating cost of living adjustments, ending tiered wage systems. and a 32 hour work week. this is our moment. is our generation defining moment. the union needs two-

the big three automakers, united auto workers, negotiated a new collective bargaining agreement to workether to reach the agreement. together we can make this transition to a clean energy future fair and just. that means ensuring that auto jobs continue to be good jobs that can support families. [applause] auto companies honor the rights of workers to organize and take steps to avoid painful plant closings. when transitions are needed, they are fair and resigned to retool, reboot, and rehire in the same communities at a competitive wage and existing workers get the first shot at those jobs. it is only fair. it matters. second, because the inflation reduction act, talking about life-saving steps to reduce health care costs, lower health care premiums for millions of american families under the affordable care act, saving them an average of $800 a year. i see my friends in congress and the senate, i saw them make that happen. we pay more for our prescription drugs than any country, major country in the world. a product made in the united states sold in montreal, paris, or anywhere around

. >>> contracts at the united auto workers are se expire soon if a deal isn't reached in time, a strike could cost $5 billion in ten days. the union represents 150,000 workers at ford, general motors and stellantis >>> hurricane hilary is bringing powerful winds and rain. angie lassman has her eye on this storm >> we are going to be watching this system over the next couple days, impacting first the baja, california peninsula and eventually parts of the southwestern united states a healthy looking hurricane. we've seen the rapid intensification as it works through warm waters. we'r waters moving northwest at 14 miles per hour it's going to start to take a more northerly track here in the short term it will encounter colder waters that are sitting just offshore of the western portions of the baja, california peninsula where temperatures are it makes landfall that's going to happen likely sunday later in the day. we'll see it potentially be a tropical storm at that point and bring heavy rain to parts of the southwest. this is the real threat. it's not so much the winds, we could see breez

automakers and the united auto workers union to reach a deal to avoid a strike.et to expire in a month. in a statement monday, biden urged bothth sides to o negotia fair deal to avert the potential economic impact of job action. >>> and netflix is expanding its entertainment offerings. the streaming giant is now testing video games streaming with some customers in canada and the uk. right now the two games being offered, "oxenfree" and "molehew's mining adventure," are showing up on select tvs. but in the coming weeks, netflix says it will also expand to computers. gamers can download an app to use their cell phones as controllers. >>> that's your cbs "money watch" report for this tuesday morning. i'm shanelle kaul, cbs news, new york. >>> up next, retracing darwin's voyage. a ship set sail today on a new research mission inspired by charles darwin. inspired by charles darwin. ♪ with w wet amd, sosometimes i worry y my world isis getting s smaller becaususe of my sisight. but t now, i canan open up my w world with h vabysmo. vabysmo o is the firirst fda-approvove

the show must go on the summer of strikes could continue into the fall, with the united auto workers union currently in talks with the big three us automakers. andrea derek allison, thank you. >> a vigil was held in chicago for another young victim of street violence. nine year old serabi medina was shot and killed outside her home. a 43 year old neighbor is charged with her murder. reports say he had often complained about kids making too much noise outside. the girl's mother was also killed in a shooting five years ago. >> former vice president mike pence has qualified for the first republican presidential debate august 23rd. his campaign announced that pence has now attracted the required number of donors he's the eighth candidate to qualify. former president trump has suggested he may skip the debate. meanwhile several new developments overnight in the battle between trump's lawyers and prosecutors in the election interference case. at issue is what parts of the case trump will be allowed to discuss publicly. abc's justin finch is here with the latest. justin, good morning. >> an

or if your po, the is not making the public of the wrong the kingdom of saudi arabia and the united auto emory, its best south african president, reveals that countries which will join correct on the 1st of january 2020 sided by the blogs 5 members during the summer 15 the here in johannesburg were bringing your special coverage of the brick summit.

earnings in the calls is labor costs we know wages are going higher we have seen it in many industries united auto workers their contract up in mid-september how will they talk about wages higher, labor costs higher when productivity is not high enough to balance that out. we have seen inflation start to come down, which means pricing power should be eroding. how are they going to combine that andfight that we know that it takes about 18 months once the tightening cycle starts to hit corporate revenues we are at 17 months right now. we are right there where we should start to hear more of that that's what we are going to be listening for. the stronger companies with the strongest balance sheets should come out ahead. >> today credit suisse coming out and giving price target increases to walmart ahead ef those results while over the last several weeks wall street has become more bearish on target and what that report may tell us. do you feel like those are the right calls? >> i think it's absolutely critical to be looking at these companies in terms of their ability to execute because not only do w

the united statessed auto workers -- united auto workers president not taking the proposal from jeepent stalantis. it inches close tore a strike. lydia hu in new jersey with more details on this. lydia. reporter: hey, cheryl, that's right. the president of the uaw auto workers took to facebook recently to give an update on the latest round of negotiations, and in that update he held the stellantis proposal for a labor agreement up in the air, and he threw it in the trash. while doing that, he said "he's going to file it in its proper place". he added "stellantis is rich rendition of anthonyuated by the value of the member asks it's our labor that drives the company's success and the big three executives and shareholders are rich, uaw members, the workers, got left behind. our message to the big three is simple and very blunt, record profits equal record contracts". if the union has demands for increased wages met, there's some in the auto industry telling us that could translate into increased price for new cars to the tune of thousands of dollars. watch here. >> they're looking to c

tonight, members of the united auto workers gave almost unanimous approval for a potential strike against union is seeking an increase in wages, better pensions, and to protect workers from the transition to electric vehicles, which require less labor to construct. the contract between 150,000 uaw measures and ford and stone lantus expire september 14th. now to some new developments on my way. for the first time, authorities have released an official count of those who remain unaccounted for in the wake of the wildfires. there are 388 names on the list. that is significantly lower than the estimated 1100 from earlier this week. cbs's ben tracy reports from the fire-scarred town of lahaina. >> every day i find out one more of my friends is missing, or one more of my friends' little child is missing. >> reporter: eddy garcia is worried that many of the unaccounted for might never be found in the ashes of lahaina. >> so i can't even imagine, for the people who lost their children, and just don't know where the people who are missing, when they are going to show up, or if they are not going t

but back in 2020, the us mediated a diplomatic reconciliation between the united auto beverage sputtering and this will pledge the signing of the abraham accords a set of normalization agreements poll. show whoever the public support for those have plummeted since they are of the countries. increased violence and published in the entire trees is seen as a key factor for such sentiments. they say caused by israel. some countries in the region have criticized the tel aviv governor and subsequent approach to the records as well. the current government in israel will not kill the abraham a codes. the signatories will not pull out, but we will not have all the signatories. we will look into engage more representatives from the arrow, i'm not our welds, but the current government is putting everybody off. it is quite clear that strengthening and stabilizing the position of design history is human. the region has been america's 1st priority for many years. but what has happened in practice is that there has been an increase in crimes against the palestinian nation by design is true. she will tel

the united auto workers union's contracts with ford.september 14th. and show your driver's license could soon be as easy as opening an app on your phone. the california dmv is testing a pilot program allowing residents to use a mobile driver's license app. they call it mdl and it would allow people to make purchases and access airport checkpoints. the app will not replace your physical card, but it will provide an alternative to the traditional license. right deal is being accepted at some tsa lanes, including lax, san francisco and san jose airports. the pilot program is limited to the first one and a half million participants. >> and for the weekend today is the asian and latino cookout in san francisco. the event celebrates the similarities and differences between both cultures at pier 30, the event starts at 9 this morning runs until 4 in the afternoon. you can find food, trucks, music and performances. even a low rider show it is free to attend with show it is free to attend with registration on grand canyon university's rn to bsn

to this, what a coincidence we are getting down to crunch time to negotiate new contracts with united auto workers union. the tone of those talks have been intense. i'll sort of indications of a likelihood of a strike -- all sort of indications of a likelihood of a strike. will these help companies get comfortable in making investments that the union is going to want to squeeze out of investments? you are going to see some pushback still on the part of the companies. absolutely. this is helpful to them in terms of making these investments to retrofit these plants. will they be willing to make these plants uneconomical or uncompetitive to un-unionized plants. i think it is still a question whether or not they will be willing to go that route. these are fixed costs that will last longer than these longtime investments that is taken a plant to make combustion and transmissions. those are costs they will still want to keep contained. how do union and the companies are able to resolve that is a "-- question. dani: of course the biden administration might come back and say this is all part of ou

daniel because i'm not run against ♪ ♪ united auto workers pay raises of 40%.llion a year to automakers close. the new jersey, if this goes through, surely that would make cars much more expensive, wouldn't it? >> that's exactly what i'm hearing and not just new car prices but car parts as well. labor negotiations are impacting general motors, ford, think about chrysler, dodge and american-made cars and we hear the estimate will take the cost of wages from $64 an hour over the $150 an hour. here's some insight here. tom, how are labor negotiations going to impact the price of the car? >> it's going to increase the price of a new car seven to $10000 and not only are they looking to get wage increases the cost of wage increased built-in already. what they're looking for is cutting the workweek 32 hours if the cut production any further promote the car industry is in trouble, there's no production today, we are still trying to recover from the tip crisis. >> the unions say the car companies are making money pointing to recent earnings coming out. ford in particula

the example they gave was trump visiting east palestine and attempt to get endorsement from the united autohis is the second time around, and it does seem to be paying off. >> yeah. i think. so and, look, donald trump has been hitting the ground. he has been talking to people. he has always been great with the working class. ron desantis has had some struggles with his campaign. he needs to get it going. i think a potential debate against gavin newsom would be good for him to take that on. gavin newsom is someone who, i think, could also take over for joe biden. so there is still a lot at play. but, here's the thing, nobody outworks donald trump he is a hard worker and good we mingles with the people. >> carley: he will certainly have to work in 2024 with all the trials coming up and legal issues, it's going to be political rally to go from one courtroom to the next. and donald trump right now is saying bring it on. beverly hallberg, thank you so much for joining us. we appreciate it? >> thanks, guys. >> carley: ashley, great to be with you this morning. >> ashley: you, too are as always. >

of it will be hopefully avoiding being confused by swings in the data if there's a strike with united autoa question of how long are they going to strike, how much does that disrupt production if they are? we know the auto industry was one of the last ones to be able to catch up to supply chain disruptions. now we are starting to see auto prices fall so it's a mixed bag. i think we are going to be trying to watch closely. we will pull in our equities analysts to see where production is going, but for now, i don't think it is easy for us to forecast weather the strike will happen. tom: bernanke wrote an important paper on our start. we missed you at jackson hole. give us the carpenter start should our audience pay attention to it or is it economic battle and distraction? >> it is hard to avoid the relevance of the confidence of that metric. that has to be fundamental to everything about the economy. but in real time at any specific point knowing where that is with any precision is borderline impossible paired the statistical -- borderline impossible. the statistical models a lot of my colle

attention to another develop and we are following closely, the prices of things if indeed it looks like united auto workers could be going out on strike, 150,000 union workers targeting general motors and don't know the full details but they voted for authorizing such a move. doesn't mean they make that move. bob nardelli on what happens if they do make that move. what do you think? >> thank you for having me on. i'm not surprised. none of us should be surprised what's happening here. we have a crushing inflation and crippling interest rate in this economic environment the administration put asunder. you can't disagree with the uaw, to make living. you certainly could understand the environment, ups settled that 40%, it was unbelievable, legendary settlement of what they are going to get. that settlement is going to inflate inflation because wages are going up, packages going up. when they get air conditioning in trucks that will be another increase because of fuel costs. we see the same with the uaw, 40 to 46% wage increase. 32 hours a week. not sure how you build a car on friday if no one is in t

stuart: the united auto workers union demanding a 40% raise, pushing for 32 hour work week.hat is an ambitious proposal, students get college credit for helping migrants fill out paperwork. have a drone school signed up for the program including the ivy league. ice doubling the number of special agents on the border, keeping up with a surge of migrants. tom homan is former acting ice director, he explains the significance of special ice agents. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ i did have hearing aids from another company... i was just frustrated... i almost gave up. with miracle ear it's all about service. they're personable... they're friendly. i'm very happy with them. we provide you with a free lifetime of aftercare. meaning free checkups, cleanings, and adjustments. i see someone new... someone happy... it's really made a difference. call miracle ear at 1-800-miracle and schedule your free, no obligation hearing evaluation today.

general motors and stellantis could bring the country to a halt costing $6 billion next month and united auto workers president saying our union president is clearly fed up with living paycheck to paycheck while the corporate elite and billionaire class continue to make out like ba bandits. it's been a hard week for pete saying good-bye to his favorite haircut and the man bun and mullet are now history. history. pete: it's over. the mullet is gone. it was a summer mullet of glory, a personal passion, but i think it was the man bun that pushed people over the edge. rest in peace, mullet. rachel: was this like a viewer response thing? is that what happened in will: there was my comment on instagram. the end of an error -- i mean era. rachel: that was really good. this was done by viewer -- pete: i think the viewer feedback was keep it. i got a lot of great, strong feedback. rachel: you sure? pete: it was don't cut the glory. will: really? i wasn't getting that same story. rachel: i got a lot of comments on my twitter about it and never positive. will: me too. it was like talk to your friend. pe

. >>> overwhelming 97% of united auto members union members voted to authorize strike if negotiationsl motors, stellantis fail . this is after the uaw union president says workers are fed up. the deadline is september 14. that is a wrap on your money watch report. when you tune in, you can take something to the bank. this is your show and our mission is to connect communities. >> we were with you this weekend all over the bay area. >> it's fascinating to see a negative turn to a positive. a group planned something called doom loop tour to draw attention to the open air drug markets. but the tour ended up canceled. do you know what replaced it? 50 of you on a walking tour of the tenderloin with the goal of providing an alternative view of the neighborhood. good morning. some of the down side was in plain view but mr. seymore pointed out positive things. >> when we heard this tour being advertised, we thought let's show them how to do it tenderloin style. we don't engage but we wanted to be sure that the wonderful things are also highlighted. >> the tour ended at the code tenderloin car

stuart: united auto workers union made new demand on the contract, what is new.y increase that's been talked about, you go from $32 an hour to 47. that is a big deal but there are reports if you include the other benefits like taking the 40 hour workweek and make it 32 hours that brings total labor cost to $150 an hour from $64 right now, union shops like telsa 45 - $50 an hour. nonunion when you look overseas it's more like $55 an hour. stuart: it would cost 80 billion over four years. lauren: for ford, gm and still lantus that would wipe out the profits. java hundred and 50000 union workers demanding more from t this, we have not confirmed that this is what they want to but they have called their demands and this is audacious and the asking for something big and there will be pushback by the automakers but i'm not sure how much you can push back when you're in this environment and ups is about to sign the deal that they reached. stuart: the ups deal is very rich for the workers and as i understand it there being delusions with people who want to work at ups bec

being club thanks to its auto exposure with the stock down i'm simply not worried about itw even if united auto workers goes on strike next month the company reported the same steady earnings beat it always gives us on august 1st now, a couple days later illinois tool works announced it's boosting its buy back organization to $5 billion which is equal about 7 million of its market cap and also raised the dividend 7%. you only raise your dividend when you're confident about the business this is one of the best run companies i follow as far as i'm concerned all that's happened with this stock and august correction is that illinois tool works has gotten cheaper. what's not to like the bottom line with five new names we're now up to 15 august losers imparting current weakness especially this one this is the one that's driving me crazy i'm going to be right on this one, i know it i wouldn't be surprised if fed chief jay powell causes another leg lower after his piece on jackson homes on friday. that's why i'll give you five more of these tomorrow night are good stocks. mad money is back after the br

the head of the united auto workers union, the big three unless workers get a 46% raise, a return toal pensions and a 32 hour workweek. joining us is our detroit bureau chief. is a strike going to happen? >> maybe not with all three companies, but they will start with one they probably think they can get a good deal from. get that contract to prove to the other two they are serious and show this is the kind of deal they want. striking all three at once i'm not sure. the union will weigh up different offers from each company and you go from there. and try to work up from that initial offering. alix: assuming this is a starting point for negotiations, what will be realistic and in the laundry list they are -- in the laundry list they are laying out? david: they want real wage increases. in the last contract it was completely chewed up by inflation last year. they feel like profits have grown massively. ceo payment has grown nicely. they're looking to cash in on this era of prosperity. are they going to get 46%, that's tough to see. a lot of this a bit of a lowball offer. they'll probab

united auto workers may be going on strike. union members voted overwhelmingly in favor of a measure that authorizes the uaw leadership to call for a strike. this is talks between the union and manufacturers continue view the current combined average across the big three automakers was 97% in favor of strike authorization . when the vote is a procedural step that enables union leadership to initiate a work stoppage, it does not guarantee that a strike will be called. the uaw is negotiating new four year labor agreements for about 146,000 us hourly workers at gm. ford and jeep maker stellantis stellantis. the existing contracts expire on september 14th. the pharmacy chain rite aid is reportedly preparing to declare chapter 11 bankruptcy. that's according to the wall street journal. the journal says the move would halt a number of lawsuits alleging rite aid oversupplied prescription painkillers during a national opioid addiction crisis. the company is currently dealing with more than $3 billion worth of debt and facing more than

we have the jobs report where i think wage data will be in focus and, you know, we have united auto workersrhaps about to strike. so even if it looks like wages are under control for now, maybe not for long. >> well, i think those are all rather small factors influencing the market. but basically, the economy is good. there's no sector that is out of bounds. and really, we have seen over the last year the economy, consumers and business is rather insensitive to these increases in short-term rates. the other parts of the economy, they're only bothered by the higher rates. so i don't think a small change in labor rates, something like that is going to change. plus, really, unemployment is at 3.5%. it's hard to be negative about what is going to happen to wages. i think we'll continue to move up modestly. >> let's get more granular. in this environment, you like semiconductors. how do you slice that? because nvidia, it's almost living in a world all its own. maybe you can put amd in there, as well. but what do you like about s semiconductors? >> they have one of the best growing characteristic

. >>> overwhelming 97% of the united auto workers union members voted to authorize strike and contractiations with ford, general motors. if they fail the union is asking for a 40% pay hike, pensions for new hires, post retirement healthcare benefits after uaw union president says workers are fed up, deadline for an agreement is september 14. that is a wrap on your money watch report. >>> when you tune in, you can take something to the bank. this is your show and it is our mission to connect communities. >> we were with you this weekend all over the bay area. >> i got to see some of you pickers out there. you know what that means. antique lovers at this estate sale. barbie looming large. i also saw wacky things too. this was somebody's teacher and somebody's dog house but it's always fun. that's how i feel. hugging a pumpkin taking a nap. so much fun to see. by the way, somebody didn't use their folgers. good morning to you. it's the largest pride festival in the south bay. this year's theme is "live out loud." >> i have worn out a lot of shoes getting where we are. i love watching a qu

the united auto workers union pressing the detroit car companies to get factory workers 40% pay hikehe union is negotiated on 150,000 hourly workers at gm, ford insta lantus. right now workers make $18 an hour with top wages hitting $32 per hour. the uaw spokesperson says ceo salaries have gone up 40%, hence the demand for 40% pay hike, that is a request anyway. fidelity does, orlando florida steakhouse serving a freaking unbelievable begin steak. the price tag is unbelievable, $69. charlie steakhouse blind taste test has steak lovers fooled the offering clicked on the same surface of the regular steak. they are the first restaurant in the nation to offer if filet mignon version with plant-based ingredients. you can call it a steak if it's plant-based, that's my opinion. maria: i was thinking the same thing, why not order a mushroom, order something else. you have to make believe it is the steak. maria: why would a vegan want to go to a steakhouse, that is my question. >> how about a delicious grilled cauliflower if that's what you want. >> sixty-nine dollars. maria: meanwhile a seri

and united auto workers may be going on strike. union members voted overwhelmingly in favor of a measure that authorizes the uaw leadership to call for a strike as talks between the union and manufacturers continue view the current combined average across the big three automakers was 97% in favor of strike authorization action. the vote is a procedural step that enables union leaders to initiate a work stoppage. it does not guarantee that a strike will be called. the uaw is negotiating new four year labor agreements for about 146,000 us hourly workers at gm, ford and jeep maker stellantis. the existing contract cuts expire on september 14th. health experts are closely monitoring the latest covid variant. there are only about a dozen cases of the variant called ba 286. around the world. but experts say it's a highly mutated form of coronavirus and may evade immunity. according to the center for disease control. so far, this variant does not appear to make people sicker, and it's believed antiviral treatments could still work against

the move, however, may not sit well with the united auto workers union which has already approved a strikemajor car companies over the administration's e.v. push. let's bring in charles payne, host of making money on fox business. charles, because the automakers are saying this is not working. they are not seeing the demand they were told they would see, so this means job losses, pay cuts, so they have shown up and they have said we are not for this, at least not right now. >> uaw sees the money going into this, right. to you point, the future is uncertain when it comes to all this and the amount of money being put to this and saying hey, you know, we are concerned, we are concerned about this transition, we want to make sure we have a secure place there. ironically, in a similar fashion to even the actor strike with respect to artificial intelligence and those things, it's a murky thing. they just keep throwing more and more and more money at it. >> sandra: $12 billion in funds for the automakers. this is brand-new, announced just today, the united states is making $12 billion available i

moments ago, members of the united auto workers union overwhelmingly approved possible strikes at gm,stelantis. that will make getting cars cost more. >> they want better benefits, we'll see how that shakes out. >>> joins us to discuss is matt higgins of rse ventures. good to have you on, matt. listen, it's a complicated picture. the headline numbers are very good. unemployment rate, gdp growth, consumer spending and the stock market, which is driven by a lot of things, but also corporate earnings, it's quite high right now. explain to folks at home, is this a strong economy? >> no, actually we are in a pandemic-fueled stimulus-fueled vortex where good news is bad news. what the fed is not saying, what the white house is not saying is the reality is in order to get inflation down to 2%, unemployment will settle at around 5.5%. 5.5% will mean millions of jobs will be lost. that's the bottom line. what the fed reiterated today is 2% is our target, we're sticking with it. >> is that the right target? as you know better than me, there's a lot that goes into that inflation pressure. it's a