Auto Strike Hits Massachusetts
The nationwide UAW auto strike hits Massachusetts. The UAW, United Auto Workers union has begun a nationwide worker strike, demanding better deals for workers. The strike has targeted 38 facilities…
BOLINGBROOK, ILLINOIS – SEPTEMBER 22: UAW workers picket outside of the General Motors (GM) parts facility on September 22, 2023 in Bolingbrook, Illinois. The United Auto Workers (UAW) today expanded their strike against the big three U.S. automakers to include 38 GM and Stellantis parts facilities. (Photo by Scott Olson/Getty Images)
The nationwide UAW auto strike hits Massachusetts. The UAW, United Auto Workers union has begun a nationwide worker strike, demanding better deals for workers. The strike has targeted 38 facilities including GM and Stellantis.
UAW Targets Massachusetts Facilities
According to WCVB:
Union members walked out of 38 General Motors and Stellantis parts distribution centers in 20 states. That includes the Stellantis facility on Forbes Boulevard in Mansfield, where union members in red shirts walked with strike signs.
We have all heard of GM, which stands for General Motors, the folks that make our Chevys. Stellantis, is the company behind Jeep, Chrysler and fourteen other brands. How big is Stellantis? Reports say they have 300,000 employees with facilities in THIRTY countries. The UAW did not target Ford, as recent bargaining has gone well.
Local politicians Ed Markey and Elizabeth Warren joined the workers at the picket lines, saying that CEO pay increases of 40% prove that the auto companies have the money to give back.
The Cost Of Manufacturing Electric Vehicles
The auto manufacturing world is at an economic and geological crossroads, as nation's leaders are asking for commitments from automakers to provide zero carbon emissions vehicles in the future. The U.S. Government is asking the auto industry to be 100% zero emission by 2035. To the auto making world, that's tomorrow.
NPR Radio reports:
The companies say they can’t afford to meet the union’s demands because they need to invest profits in a costly transition from gas-powered cars to electric vehicles.
The average cost of raw materials — including the cobalt, nickel, and lithium needed to make EV batteries — is now around $8,255 per vehicle, the research said.
That cost represents an increase of more than 140% from the $3,381 in raw materials it cost to make an electric car in March 2020, according to CNBC.
As this auto strike hits Massachusetts we hope there's a resolution soon!
What ARE the BEST Holiday side hustles? I just read that Amazon will hire an EXTRA 250,000 full and part time workers to handle the holiday shopping season. Let's face it. No matter where we go, we see those Amazon trucks. Not to mention, we ALL order from them each week. So, I got to ask, why NOT work for them? I would guess with EVERYTHING they do, there MUST be a job that fits everyone's lifestyle.
Inflation Is Making Everything Cost More
While experts say inflation is cooling, we are far from feeling it. Gas is still way over $3 dollars. A trip to the supermarket for just a few things can hit $85 bucks. Those are jus things we NEED. Forget entertainment. A night out to dinner at your local watering hole with drinks can cost you $100. How far is your paycheck stretching these days?
Overwhelming Credit Card Debt
According to a survey from Fox Business, many are maxing out credit cards to pay for everyday items:
High inflation and interest rates pushed 35% of Americans to drain cash or consider draining cash from emergency savings and 26% have skipped or are considering becoming delinquent on their credit cards, loans or other debt, according to a survey from fintech company Achieve.
A very good friend who asked to remain anonymous sells mortgages for a living. He says because of the high interest rates, people who would normally refi their house to pay off credit cards, now are considering bankruptcy. Filing Chapter 11 is an option if your desperate. But it stays on your credit report for seven years, and you have to give up many assets including a car. Chapter 11 should the be the LAST resort, before you exercise ALL options. For example, could you take a side job? What about a side hustle? Finance Buzz share's a few on their list of BEST Holiday Side Hustles. I added a couple of my own too!
Uber Driver
Image by Getty
When my son moved to Boston to start his first job out of college, he had a few months before he had to start. So he grabbed some extra side cash by becoming an Uber Driver. He said he felt safe, and it was decent money.
Instacart Shopper
Image by Getty Images
With flexible schedules, that's a side hustle that can pay down your debt.
Rent Your Car
Image by Getty
When you're not using it, your car can become passive income. A company called Turo does the work. They even provide a calculator to estimate how much you'd make.
Become An On-Line Tutor
Image by Getty Images
You may possess skills you didn't know you had, if you have a degree. There's a big demand for on line tutors. Care.com or VIPkid.com has it already set up. $16 an hour can add up. You may be able to set your own rates.
Sell Your Storage Space
Image by Getty Images
If you have extra space, like an attic, basement, or garage, you can make extra money each month. Sites like "Store At My House" is like an AirBnB, but for storage. If you have ALOT of space, perhaps industrial, many 18 wheeler truckers need a spot for their trailers, if they own more than one.
Host a Virtual Experience
Image by Getty Images
Finance Buzz recommends hosting a Virtual Experience. "Got a particularly delicious and boozy eggnog recipe to share? Can you teach beginners how to play Christmas songs on the ukulele?" You can set this up through AirBnB. Be creative and you can set your own price.
Use YOUR Skills To Earn Cash
Image by Getty Images
Are you great at photography, web design, or maybe you're a writer? Services like Upwork, Fiverr, or TaskRabbit will list your expert skills. Overtime, your testimonials will help you raise your price!
