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Creamline shoots for solo lead in Farm Fresh clash

Games Today
(Filoil EcoOil Arena)
2 p.m. -— Chery Tiggo vs Gerflor
4 p.m. — Farm Fresh vs Creamline
6 p.m. — Cignal vs Akari

CREAMLINE can reclaim solo first place by winning its Farm Fresh matchup today in the Premier Volleyball League All-Filipino Conference at the Filoil EcoOil Arena.

The Cool Smashers had the luxury of resting their starters after their second unit headed by Pau Soriano and Lorie Bernardo stepped up in a 25-15, 25-12, 25-10 rout of the Gerflor Defenders Thursday in Antipolo City.

It catapulted the multi-titled franchise to a third straight triumph and into the lead, before Petro Gazz caught up with Creamline when it turned back a feisty Nxled, 25-23, 25-21, 25-22, in an out-of-town sortie in Candon, Ilocos Sur Saturday.

And the Cool Smashers have a chance to jump back to a familiar place — the top.

“Usual ginagawa namin pinag hahandaan namin any team, kahit sino makalaban kailangan talaga paghandaan,” said Creamline coach Sherwin Meneses of their 4pm duel with the Foxies, who are winless in four starts.

Ms. Soriano and Ms. Bernardo came through when Mr. Meneses pulled them out like rabbits from a hat. They delivered by combining for 10 points while providing rock-solid net defense.

Given the chance, Mr. Meneses will not hesitate to summon the pair of skilled middle blockers from the bench and send them straight into battle.

Isa lang sistema sinusunod sa middle, alam na ng lahat gagawin, sadyang medyo advantage lang two namin reliever, nagpapakita din kasi sila ng magandang ensayo,” said Mr. Meneses of Ms. Soriano and Ms. Bernardo.

Also on the three-game slate are matches pitting Chery Tiggo (2-1) against Gerflor (0-3) at 2 p.m. and Cignal (1-2) versus a giant-slaying Akari (3-1) at 6 p.m. — Joey Villar

Adamson drops Arellano, barges into Final Four of Shakey’s Super League preseason tourney

Games On Saturday
11 a.m. — CSB vs UST
2 p.m. — UE vs AU

ADAMSON cruised to the Final Four with an easy 25-21, 25-18, 25-15 win over Arellano University (AU) in the Shakey’s Super League (SSL) Collegiate Pre-Season Championship quarterfinals over the weekend at the Rizal Memorial Coliseum.

All players, except for the liberos, racked up the points in a balanced attack as the Lady Falcons maximized their win-once bonus to make a return semifinal trip after a bronze-medal finish in the inaugural season.

This time, the Lady Falcons found no trouble replicating their feat in only 83 minutes with 13 players scoring led by Maria Rochelle Lalongisip’s eight points.

Ayesha Juegos, Jen Villegas and Antonette Adolfo chipped in seven points each, skipper Lucille Almonte had five while Lorence Toring and Jimy Jean Jamili added five points apiece.

“We’re so happy and grateful na nakapasok po kami sa semis. Nakabawi po kami at nabigay po namin iyung best as a team. Ngayon, mas naibigay po namin ‘yung laro namin,” said Ms. Juegos, who claimed the Player of the Game honors on five hits and two aces.

The Lady Falcons will face reigning champion and undefeated National U, which also made short work of University of the East (UE) with a 25-19, 25-21, 25-23 win in the other quarterfinal pairing.

Also barging into the Final Four was Far Eastern University after trouncing Ateneo, 25-19, 25-18, 25-18, to arrange a knockout semifinals against either NCAA champion College of St. Benilde (CSB) or University of Santo Tomas (UST).

St. Benilde forced a deciding game against UST, which enjoyed a twice-to-beat advantage, in their quarterfinal duel after a thrilling 25-22, 23-25, 18-25, 25-23, 15-11 win.

The rubber match is set for Saturday at the same venue to complete the Final Four cast of SSL Season 2 in cooperation with the Commission on Higher Education and the Philippine Sports Commission.

UE and Arellano, as well as Ateneo against the loser between St. Benilde and UST, will tussle in the classification matches for 5th-8th spots before the semis and the best-of-three finals. — John Bryan Ulanday

Nueva Ecija keeps hopes up after falling behind in MPBL best-of-3

FACEBOOK.COM/RICEVANGUARDS

NUEVA ECIJA will not roll over and die. It’s the reigning — king for a reason.

With their backs against the wall, the Rice Vanguards brim with hope that they can score sweet revenge against rival San Juan to force a winner-take-all Game 3 in the Maharlika Pilipinas Basketball League (MPBL) North Division Finals.

The No. 2 seed Nueva Ecija faltered late in a tough 86-82 Game 1 loss, making it a win-or-go-home tussle in Game 2 against the No. 3 San Juan on Friday on its own turf at the Nueva Ecija Coliseum in Palayan City.

Pinahaba lang namin iyung series. Bawian natin,” vowed coach Jerson Cabiltes, preaching confidence to his wards, who are armed with enough experience and poise to essay a series comeback.

The Rice Vanguards led by as many as 14 points, including a 12-point lead at the half, against San Juan, only to cool down and allow a fiery San Juan comeback to find themselves down in the short best-of-three series.

Nueva Ecija, which swept No. 7 Pasay in the quarterfinals, now has to win the last two games to keep its title defense alive.

The Bong Cuevas-owned squad has been in the same situation before and succeeded in style at the expense of the same squad to eventually clinch the MPBL crown.

Last season, Nueva Ecija swept the elimination round before absorbing its first defeat against San Juan in the North Division finals, 72-79.

The vengeful Rice Vanguards went on to win the next two matches, 89-83 and 84-68, to march on to the national finals, where they made short work of Zamboanga, 3-1.

Against the odds, Nueva Ecija is out to repeat history with mainstays like Chris Bitoon, Michael Mabulac, Bryon Villarias, Renz Palma, Will McAloney and Michael Juico leading the way. — John Bryan Ulanday

GMs Antonio, Laylo headline 3-day Ozamiz chess festival

RAFAEL REX FELISILDA-UNSPLASH

BATTLE-SCARRED Grandmasters (GMs) Joey Antonio and Darwin Laylo will invade Ozamiz City to banner the elite cast participating in the 1st Henry S. Oaminal 7-in-1 Chess Festival from Nov. 10-12.

The grandmasters will also hold lectures and stage simul games on the side to help drum up support for the game.

Mr. Antonio and Mr. Laylo, both Olympiad veterans, will have their eyes on the P500,000 pot at stake for multiple categories, including the rapid event with P30,000 going to the winner, the blitz (5,000), and the Armaggedon Battle of Philippine champions.

The two will also join Asia’s first GM Eugene Torre in playing simul games against the best, not just from Ozamiz but also all comers from Mindanao.

The highlight is the Armageddon event featuring Antonio, Laylo, International Masters Joel Pimentel, Ronald Bancod, Rolando Nolte, Kim Steven Yap and Rechieliu Salcedo, FIDE Masters AJ Literatus, Alekhine Nouri, Ellan Asuela and Nelson Villanueva.

Other top players seeing action are International Masters Angelo Young and Rico Mascarinas, with Lennon Hart Salgados, Johnnel Balquin and Jayson Salubre the notable players representing Mindanao.

Also on tap are individual and team, age-group and executive events. — Joey Villar

D-backs’ Marte packs hot bat as World Series shifts to Arizona

KETEL MARTE takes his MLB record 18-game postseason hitting streak home to Arizona for World Series Game Three Monday where he expects to feel even more confident at the plate.

It appeared the center fielder’s streak might come to an end when he went hitless in his first four at-bats on Saturday against the Rangers in Arlington.

But he delivered a bases-loaded, two-out single up the middle that plated two runs to put the game out of reach.

The 9-1 shellacking evened the best-of-seven series 1-1 and left the resilient team oozing with confidence as the series shifts to Chase Field for the next three contests.

“It’s our house,” Mr. Marte, who hails from the Dominican Republic, said through a translator. “We’re going to be more comfortable there. We’re going to have our fans with us supporting us, and we have the talent, so we’re going to beat them.”

The 35-year-old’s postseason hitting streak began in his playoff debut in the NL Wild Card game in 2017 and he extended it through the next three Divisional Games.

He picked it back up starting with the Wild Card round this month and stayed hot to maintain it through the Divisional, Conference and the first two games of the Fall Classic. He broke the previous record of 17 straight postseason games with a hit held by Manny Ramirez (2003-04), Derek Jeter (1998-99) and Hank Bauer (1956-1958).

Mr. Marte is batting .333 with nine extra-base hits and 11 RBIs in 14 games this postseason, according to MLB.com.

“Very happy,” Mr. Marte said. “I never imagined doing something like this… It’s just another accomplishment for myself. I know what kind of person I am. I’m a person that believes in God. We’re going to continue to strike and continue to break records.”

Texas will send ace Max Scherzer to the mound for Monday’s pivotal Game Three while Arizona will counter with Brandon Pfaadt. — Reuters

Hawks lead wire to wire in beating Bucks, deal first loss of Milwaukee’s Lillard era

TRAE Young’s 20 points led eight Atlanta scorers in double figures, and the Hawks led wire to wire en route to a 127-110 rout over the host Milwaukee Bucks on Sunday.

Atlanta pounced early, building a 15-point lead less than nine minutes into the game.

Milwaukee cut the deficit to one early into the second quarter, but runs of 18-4 and 13-3 in the period put the Hawks firmly in control.

The visitors shot 47-of-93 from the floor, including 15-of-37 from 3-point range, led by Bogdan Bogdanovic’s 4-of-7.

Mr. Bogdanovic led three Hawks reserves in double figures with 17 points. Onyeka Okongwu added 14 points and grabbed seven rebounds, and Saddiq Bey scored 13 points with nine rebounds.

All five Atlanta starters scored at least 12 points, including Clint Capela with 12 points and 12 rebounds. Dejounte Murray and De’Andre Hunter each scored 15 points, and Jalen Johnson went for 14 points and seven rebounds.

Mr. Young dished a game-high 11 assists, Mr. Bogdanovic had six assists and Mr. Murray had five assists.

Atlanta totaled 32 assists as a team to 22 for Milwaukee.

The Hawks successfully pushed the pace with 25 fast-break points to seven for the Bucks, successfully capitalizing in part on Milwaukee’s 23 turnovers.

The Atlanta lead reached 31 points midway through the fourth quarter thanks to a 16-2 outburst lasting a little more than three minutes. It came after Giannis Antetokounmpo had dunked home two of his game-high 26 points to pull the Bucks to within 17.

Damian Lillard suffered through his worst offensive performance since Nov. 5, 2021, when he shot 2-of-13 from the floor for four points.

On Sunday, Mr. Lillard went 2-of-12 for six points, and was scoreless until the second half. Malik Beasley scored 18 points, Brook Lopez had 13 points and Bobby Portis scored 12 points off the bench for the Bucks.

Mr. Antetokounmpo grabbed a team-high 11 rebounds. Milwaukee shot 39-of-86 from the floor, including 16-of-44 from 3-point range. — Field Level Medi

China and Russia take aim at US at Chinese military forum

REUTERS

BEIJING  — Chinese and Russian military chiefs targeted the United States for criticism at a security forum in Beijing on Monday, even as China’s second-most-senior military commander vowed to boost defense ties with Washington.

The lack of regular communications between the US and Chinese militaries has been a persistent worry for Washington amid tensions between the countries and the risk of an accidental clash in the South China Sea or near Taiwan.

The Beijing Xiangshan Forum, China’s biggest annual show of military diplomacy, began Sunday without the country’s defense minister, who typically hosts the event, but included a U.S. delegation amid roiling regional tensions.

Russia’s Defense Minister Sergei Shoigu warned the West that its involvement in the Ukraine war created grave danger.

“The Western line of steady escalation of the conflict with Russia carries the threat of a direct military clash between nuclear powers, which is fraught with catastrophic consequences,” Russia’s TASS state news agency cited Shoigu as saying at the forum.

Shoigu also said the West intends to inflict “strategic defeat” on Russia in a “hybrid war,” and praised the model of Russia-China relations as “exemplary,” Russian state media reported.

Zhang Youxia, vice chairman under President Xi Jinping on China’s Central Military Commission, delivered veiled criticism of the United States and its allies, accusing “some countries” of trying to undermine the government.

But in other parts of his speech, Zhang stressed the need for improved military ties with the United States.

“We will deepen strategic cooperation and coordination with Russia and are willing to, on the basis of mutual respect, peaceful coexistence and win-win cooperation, develop military ties with the US,” Mr. Zhang said in an address being closely watched by military attaches and diplomats amid tensions over Taiwan and the South China Sea.

China’s defense minister delivered the keynote speech in previous years.

China and the US have had no high-level military-to-military communications since the Washington-sanctioned former Chinese defense minister, Li Shangfu, was appointed in March.

Mr. Li was sacked last week without explanation, and China did not name a replacement. Reuters reported last month that Li, who has been missing for two months, was being investigated over corruption.

The US Defense department has sent a delegation led by Cynthia Xanthi Carras, China country director in the Office of the Undersecretary of Defense.

It is not yet known whether the US team will meet separately with Chinese military officials.

The participation of the U.S. delegation comes as the United States and China ramp up exchanges ahead of an expected summit between US President Joseph R. Biden, Jr. and Chinese President Xi Jinping next month.

Last week, China’s top diplomat, Wang Yi, met with Mr. Biden for an hour in talks the White House described as a “good opportunity” to keep open lines of communication between the two geopolitical rivals.

Despite the conciliatory remarks about improving China-US military relations, Zhang and some People’s Liberation Army officers gave no sign of a softer stance on issues such as Taiwan, which Beijing’s regards as its own territory.

Chinese Lieutenant General He Lei, speaking at a panel on Sunday, said that if China has to use force against Taiwan, “it will be a war for reunification, a just and legitimate war.”

In his speech, Mr. Zhang said that countries “should not deliberately provoke other countries on major and sensitive issues,” he said, adding that Taiwan is “a core interest” of China.

Many Western countries have either shunned the forum or are only sending small and low-level delegations, preferring instead to discuss international security issues at the Shangri-La Dialogue, held annually in Singapore.

Together with the commission’s third-ranked official, He Weidong, Mr. Zhang held bilateral meetings with defense ministers from Laos, Mongolia, Belarus, East Timor and Myanmar, according to state media. — Reuters

Barcelona’s Museum of Archaeology throws open doors to nudist visitors

A giant Estelada flag (Catalan separatist flag) is seen in Barcelona, Spain Feb. 12, 2021. — REUTERS/ALBERT GEA

BARCELONA — A Barcelona museum opened its doors to nudists on Saturday, holding a special tour during which visitors could ditch their clothes.

The Museum of Archaeology of Catalonia held the 90-minute tour in collaboration with the Catalan Naturism Club.

Visitors viewed the Bronzes of Riace exhibition of Luigi Spina’s photographs depicting two large Greek bronze statues of naked warriors from the 5th century B.C. that were discovered in 1972 near Riace, Italy.

“We wanted to make it a more colorful visit and not the typical guided tour,” said guide Edgard, who also went clothes-free. “We wanted people who came to see it to feel exactly the same as the work they were looking at.”

The museum’s website promised visitors the chance to “admire the works by posing in the same situation as they are, completely naked and surrounded by other bodies.”

“(I feel) the same intensity as observing it with clothes on, but with the difference that we might understand better that nudity has always existed and bodies should not be a source of shame for anyone,” said health worker Marta, 59, who was visiting the exhibition. — Reuters

Inflation to dog world economy next year, postponing rate cut calls

CORPORATE.WALMART.COM

BENGALURU — High inflation will dog the world economy next year, with three-quarters of over 200 economists polled by Reuters saying the main risk is that it turns out higher than they forecast, suggesting interest rates will also remain higher for longer.

Several central banks are still expected to begin cutting interest rates by the middle of 2024, but a growing number of economists surveyed are adjusting their views, pushing the more likely date into the second half of next year.

This is a significant change from expectations at the start of this year. Then, some investment banks were predicting the U.S. Federal Reserve, which sets the tone for many others, would be cutting rates right around now.

Despite broad success in bringing inflation down from its highs – the easier bit – prices are still rising faster than most central banks would prefer and hitting their inflation targets is likely to be tough.

The latest Reuters poll of over 500 economists taken between Oct. 6 and Oct. 25 produced 2024 growth downgrades and inflation upgrades for a majority of the 48 economies around the world surveyed.

A 75% majority who answered a separate question, 171 of 228, said the risk to these broadly-upgraded inflation forecasts was skewed higher, with only 57 saying lower.

The results follow news on Thursday the U.S. economy unexpectedly grew nearly 5%, annualized, in the third quarter, underscoring how the strength of the world’s largest economy is setting it apart from most of its peers.

The survey results also follow a warning from European Central Bank President Christine Lagarde, who said after the ECB snapped a 10-meeting tightening streak that “even having a discussion on a cut is totally, totally premature”.

While many central banks, including the Fed and the ECB, have presented a “higher for longer” narrative on rates for the better part of this year, many economists and financial market traders have been reluctant to accept that view.

“I think all of us have to keep an open mind that maybe policy isn’t restrictive enough,” said Douglas Porter, chief economist at BMO.

“Our forecast is that the Fed has done enough and they don’t have to raise rates further, but I haven’t closed off the possibility we could be wrong and the Fed does ultimately have to do more.”

While most economists still say the Fed will cut by mid-year, the latest poll shows just 55% backing that scenario compared with over 70% last month.

The Reserve Bank of New Zealand, which often leads the interest rate cycle, was also forecast to wait until July-September 2024 before cutting.

The majority backing no cuts until the second half of 2024 has also grown stronger for the Reserve Bank of Australia, Bank Indonesia and the Reserve Bank of India.

Even the Bank of Japan, the outlier sticking to ultra-loose policy through this entire round of inflation, is now expected to abandon negative interest rates next year.

Crucially, most economists agree the first easing steps will not be the beginning of a rapid series of cuts.

Asked what would prompt the first cut by the central bank they cover, over a two-thirds majority, 149 of 219, said it would be simply to make real interest rates less restrictive as inflation falls.

The remaining 70 said the first move would mark a shift towards stimulating the economy, suggesting only a minority expect a hard enough hit to demand and inflation hard to warrant monetary response.

Global economic growth was forecast to slow to 2.6% next year from an expected 2.9% this year.

“Central banks have had the highest rates in order to fight inflation … it’s certainly restraining activity, and it’s going to be a while before we get global growth above what has been its historical average,” said Nathan Sheets, global chief economist at Citi. — Reuters

Impeding relief aid to Gaza may be a crime under ICC jurisdiction

MOHAMMED IBRAHIM-UNSPLASH

CAIRO — Impeding relief supplies to Gaza’s population may constitute a crime under the International Criminal Court’s (ICC) jurisdiction, the court’s top prosecutor told a news conference in Egypt on Sunday.

Karim Khan also said Israel must make “discernable efforts, without further delay to make sure civilians receive basic foods, medicine”.

Aid supplies to Gaza have been minimal since Israel began bombarding the densely populated Palestinian enclave in response to a deadly attack by its ruling militant group Hamas on Oct. 7.

Israeli officials have said that food, water and medicines have been coming in through the Egyptian border and that it expected the quantities to rise.

United Nations officials have said the aid supplies are limited and do not correspond to the huge need on the ground.

In an unannounced visit, the ICC prosecutor went to the Rafah border crossing between Egypt and Gaza earlier in the day and posted a video statement from his location on X social media.

Khan said he was not able to get into Gaza but hopes to visit the Gaza strip and Israel while he is in the region.

The court has been investigating in the occupied Palestinian territories since 2021, looking into possible war crimes and crimes against humanity there from 2014 onwards.

Israel, which is not a member of the ICC, has previously rejected the court’s jurisdiction and does not formally engage with its investigations.

Khan has previously said that the ICC has jurisdiction over alleged war crimes and crimes against humanity during both the Oct. 7 Hamas attack in Israel and in the territory of Gaza. — Reuters

[B-SIDE Podcast] How can Philippines restore Manila Bay?

Follow us on Spotify BusinessWorld B-Side

Manila Bay has been exposed to rapid urbanization over the years and is now in need of rehabilitation.

In this B-Side episode, Jerwin Baure, a marine science researcher, discusses with BusinessWorld reporter Sheldeen Talavera how Manila Bay has changed over the years and how it can be restored. 

“I think people do not realize that Manila Bay is actually a big body of water. It’s not just the sea that’s located along the Roxas Boulevard. But actually, Manila Bay is a big body of water off the coast of Bataan,” Mr. Baure said.

“There are still a lot of marine organisms found there like crabs, fish, and other kinds of marine ecosystems that can be found in the country,” he said. 

The Supreme Court issued a ruling on Manila Bay in 2018, directing 13 government agencies to clean up, rehabilitate, and preserve it, as well as restore and maintain its waters to a level suitable for swimming, skin diving, and other recreational activities. 

According to Mr. Baure, one way of doing this is by planting mangroves. 

Historically, there were around 500,000 hectares of mangroves all over the country, but they have been declining since the 1900s, primarily due to conversion into fishponds, he said. 

“Mangroves were historically found all over Manila Bay, and these trees can serve as nursery grounds for fish. They provide habitats for many species and they can also provide natural protection against storm surges,” Mr. Baure said. 

“They can also improve the water quality because mangroves can filter out pollution coming from the land and, also, they serve as habitat for migratory birds,” he added. 

In August, President Ferdinand R. Marcos, Jr., issued a verbal order for the suspension of 22 reclamation projects in Manila Bay, pending a review of their environmental and social impacts. 

The Department of Environment and Natural Resources is working on a cumulative impact assessment with a team of scientists consisting of physical and chemical oceanographers, fishery specialists, marine biologists, and engineers. 

“When we discuss the benefits…, we also need to ask who benefits from these projects. Will it be the private investors? Or will it really [truly care about] marginalized people, since if reclamation projects continue, fishermen will lose their livelihood,” Mr. Baure said.

UAW-Ford deal nets union big wins on wages, benefits, investments

Ford Motor Company

 – United Auto Workers leaders approved a tentative deal on Sunday with Ford F.N that includes a pay hike of at least 30% for full-time workers and could more than double pay for others, in a victory for the union’s fight to roll back 15 years of concessions.

Bargaining continued at General Motors without any deal. UAW President Shawn Fain on Saturday ordered a walkout at GM’s Spring Hill, Tennessee, engine and assembly plant. Fain and GM CEO Mary Barra were meeting on Sunday night, sources familiar with the process said.

At Ford, the new deal includes $8.1 billion in manufacturing investments and could give workers up to $70,000 in extra pay over the 4-1/2-year life of the contract.

Cost-saving provisions such as paying workers at component plants less than employees at vehicle assembly lines were swept away under the new contract. The deal also eliminates all lower wage tier plants, an issue Fain highlighted from the start of the bargaining process.

Temporary workers will more than double their pay. Permanent workers could see top wage rates rise by more than 30% to $42.60 per hour by 2028, including estimated cost of living allowances.

In return, Ford will get the opportunity to offer an unlimited number of $50,000 buyouts to older workers earning the top rate. Ford can now replace them with younger hires who will earn less than the top wage for three years. Earlier, it took new workers eight years to reach top wage.

“It is a turning point in the class war that has been raging in this country for the past 40 years,” Fain said on a video post on Sunday.

He credited the rich contract to the union’s strategy of escalating pressure on Ford with a series of targeted strikes over six weeks: “This contract demonstrates the incredible power workers have when they are not afraid to use it.”

The union did back off some of its early demands that included a 32-hour work week, restoring defined benefit pensions and a 40% pay rise over the life of the contract.

Starting with smaller plants, the UAW had expanded the strike to Ford’s profitable Kentucky heavy-duty pickup factory. The union did the same with GM and Chrysler-owner Stellantis, reaching a tentative agreement with the latter on Saturday.

The UAW posted terms of its new contract deal with Ford after talks with local union leaders in Detroit on Sunday, before taking the deal to all union workers for ratification.

 

TERMS OF DEAL

Ford will add electric vehicles to existing assembly plants in Louisville and Ohio, according to the UAW summary of terms, investing $1.2 billion at the Louisville assembly plant and $2.1 billion to build electric vans in Ohio.

The Ford investments include several new hybrid models, including gas-electric hybrid versions of Ford’s largest SUVs, the Lincoln Navigator and Ford Expedition. Ford CEO Jim Farley has outlined plans to invest more in expanding the automaker’s hybrid lineup, even as it scales back plans to expand capacity for fully electric models.

The UAW won agreements covering new battery plants that could result in thousands of new UAW members at a planned battery plant in Marshall, Michigan, and the Tennessee Electric Vehicle Center, also known as Blue Oval City, that Ford is building in western Tennessee.

Fain said that once unionized, workers at battery plants would earn the same wages as Ford assembly workers.

The UAW-Ford contract offers some of the biggest gains for some of the lowest-paid production workers.

Union leaders will now fan out to regional meetings to explain the deals to members, who will then vote on approving it.

 

GM WALKOUT

GM and Ford shares have fallen roughly a fifth since the beginning of the strike on Sept. 15. Stellantis shares are down just 1%.

Sources have told Reuters that one key sticking point with GM was retiree pension costs. GM has many more retirees eligible for that increase than either Ford or Stellantis, because its workforce was far larger in the 1980s and 1990s.

Fain on Saturday criticized GM’s management’s “unnecessary and irresponsible refusal to come to a fair agreement.” GM said it was disappointed by the UAW decision to strike Spring Hill.

The Spring Hill walkout could hobble GM’s large pickup production as well as assembly of other popular GM vehicles. Ripple effects from an extended Spring Hill strike could boost the costs of the stalemate for GM well beyond the $400 million a week the company reported last week. – Reuters

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