🚘 Axios PM: What autoworkers won

Plus: Halloween downgrade | Monday, October 30, 2023

Open in app View in browser   Presented By Citi   Axios PM By Mike Allen · Oct 30, 2023 👋 Good Monday afternoon. Today's PM — edited by Noah Bressner — is 589 words, a 2-min. read. Thanks to Carlos Cunha for the copy edit. 🎤 Join Axios' Ashley Gold and Maria Curi tomorrow at 12:30 p.m. ET for a virtual event on the digital divide in rural America. Guests include Sens. Tina Smith (D-Minn.) and Roger Marshall (R-Kan.) Register here.     1 big thing: What autoworkers won United Auto Workers president Shawn Fain walks with union members striking at a Ford plant in Wayne, Mich., last month. Photo: Paul Sancya/AP The United Auto Workers' tentative deal with GM today likely puts an end to six weeks of strikes that shut down large swathes of the auto industry. Why it matters: The proposed agreement — similar to deals struck in recent days with Ford and Stellantis — would provide big gains in wages and benefits, plus increased job security, Axios' Joann Muller writes. The exact terms of each deal aren't fully known. But here's what UAW won from all three automakers, according to AP: 25% wage increases over the 4 1/2-year contract. An immediate 11% raise upon ratification. A restoration of cost of living adjustments that would bring pay increases to about 30% by 2028. Ford's deal includes a $5,000 ratification bonus, increased 401(k) contributions and billions of dollars for plant renovations and new models. Under the Stellantis deal, the company would keep open factories in Trenton, Michigan, and Toledo, Ohio. A former plant in Belvidere, Illinois, would reopen. The deals must still be ratified by 146,000 UAW members across GM, Ford and Stellantis — the parent company of Jeep, Ram and Chrysler. 🥊 Reality check: The union didn't get all of its initial demands, which were much steeper than the negotiated contract. UAW President Shawn Fain wanted 40% raises and a 32-hour work week for 40 hours of pay. Photo: Manuel Balce Ceneta/AP Above: President Biden gives a thumbs up in response to a question about the UAW-GM deal as he boards Air Force One in New Castle, Delaware, today. Keep reading.     2. Israeli hostage rescued Israeli soldier Ori Megidish (center) with relatives in an undated photo. Photo: Israeli Security Agency via AP An IDF special forces unit and the Shin Bet intelligence agency successfully rescued an Israeli soldier being held hostage in Gaza last night, Axios' Barak Ravid writes. Pvt. Ori Megidish is the first soldier rescued by Israel since the Oct. 7 terrorist attack by Hamas. Zoom in: Megidish was a member of a unit of woman soldiers in charge of monitoring the Gaza border via surveillance cameras on the border fence. The IDF said she was in good health and met with her family. An Israeli official told Axios that Megidish was held in a building in a relatively remote area in the northern Gaza Strip that was guarded by two Hamas operatives. Keep reading.     A message from Citi Generative AI is at an inflection point     With AI-driven natural language processing (NLP) tools being integrated into search engines and the internet, generative AI could transform the business model of search and how we access content online. Explore in the Citi GPS Report, Generative AI.     3. Catch me up Reproduced from BlueLabs Analytics. Chart: Axios Visuals ⚡ Exclusive poll: Huge numbers of Americans don't know about the federal subsidies — up to $7,500 — for buying electric vehicles, Axios Generate co-author Ben Geman writes. ⚖️ Sam Bankman-Fried testimony transitioned from direct examination to pointed questions from prosecutors, who hammered him on conflicting messages. More from Axios' Crystal Kim. 🇮🇱 Scoop: The head of Mossad, Israel's foreign intelligence service, visited Qatar over the weekend to discuss efforts to secure the release of the 235+ hostages in Gaza, Axios' Barak Ravid reports. 🗞️ Tech workers at The New York Times walked out this afternoon to protest the company's return-to-office policy, Axios' Sara Fischer writes.     4. 🍫 Halloween downgrade Illustration: Allie Carl/Axios   Trick-or-treaters might end up with more Halloween candy knockoffs and store-brand chocolate this year thanks to inflation, Axios' Kelly Tyko writes. The price of candy and gum increased nearly 13% since last October, according to consumer research firm Datasembly. Higher candy prices could also mean trick-or-treaters get less candy, said NIQ, a consumer intelligence company. Keep reading.     A message from Citi Vertical farming uses 99% less land than conventional farming     The UN predicts that food production must increase by 70% by 2050 to feed the world. Vertical farming, where crops are grown indoors in stacked layers, could help. Explore this and other concepts in the Citi GPS Report, Disruptive Innovations IX.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: