This Is Getting Serious -- Barron's -- October 12, 2023

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From earlier today.

Now, today, from Barron's. 

The United Auto Workers strike against the Detroit-Three auto makers just entered a new phase Wednesday. It means more uncertainty for investors. It also means the auto makers and the union are still far apart on a couple of key issues.

Tuesday evening, UAW workers walked out at Ford’s Kentucky Truck Plant . It’s a move designed to inflict serious financial pain on the auto maker.

With nearly 9,000 workers, Kentucky is Ford’s largest plant in the world. F-series super duty is built there. That’s an important profit generator for Ford’s commercial business, Ford Pro. The Lincoln Navigator and Ford Expedition are built there, too. Overall, Kentucky generates about $25 billion in sales annually. Ford is expected to generate $173 billion in sales in 2023, according to FactSet.

Ford stock has fallen 1% in after-hours trading.

Now about 17,000 Ford workers are on strike, bringing the total at all three auto makers to about 33,000. Total UAW employment at the Detroit-Three is about 145,000 workers.

Ford says it has the best economic offer of the three auto makers on the table. It was unwilling to make a new offer, yesterday, Wednesday, October 11, 2023.

Since then, we've come to that space between a rock and a hard place: