Shoot us a Text.
We’re back in the studio on this last Friday in Q3 as we give an accusatory UAW Update, discuss a new WSJ report on third party listing sites, and count down the 20 best US cities for coffee drinkers.
Show Notes with links:
- UAW President Shawn Fain accused General Motors and Stellantis of "enabling" violence against striking union workers by allegedly hiring "scab contractors as he highlighted three instances of violence and intimidation towards striking union workers, notably a hit-and-run at a GM facility in Flint, Michigan, which left five individuals injured.
- The Wall Street Journal reported that GM plans to use salaried workers for parts shipments, while Stellantis has stored a month’s worth of inventory for various parts, raising questions about their approach during the strike.
- Denied hiring replacement workers and expressed concern over certain UAW members' conduct on the picket lines. Stellantis further criticized Fain's "misleading and inflammatory statements" and urged for peace and de-escalation.
- GM: Reacted to the Flint incident by stating that the suspect, from an external housekeeping company, had been barred from company grounds. GM emphasized its commitment to the safety of all employees and said they were cooperating with authorities investigating the hit-and-run.
- Shawn Fain is set to give a video address at 10 a.m. ET on Friday and may announce walkouts at more Detroit Three auto factories, depending on the outcome of ongoing negotiations.
- As the impact of the UAW strikes are yet to be realized, a new Wall Street Journal article highlights the shifting dynamics in the auto retail sector from a sellers to a buyers market. As inventory and choice have expanded, and consumers are being more selective, third party car-listing platforms like CarGurus and Cars.com are poised for significant growth opportunities.
- The online platforms are essential for dealers as a majority of consumers now research car purchases online. An equity analyst at UBS reports that Cars.com claims about half of the 40,000 U.S. dealerships list on its site, while CarGurus had over 24,000 paying dealers by the end of 2022.
- In last week’s earnings call, CARS CEO Alex Vetter said dealers are turning to their platform to give increased exposure to units that aren’t selling quickly and at least one store interviewed by the UBS analyst said they allocate up to 50% of their total marketing spend on these platforms.
- Today is National Coffee Day, and a recent WalletHub report has brewed up a ranking of the best US cities for coffee lovers in 2023. The rankings are based on a mix of metrics, including coffee consumption and establishment counts, the list identifies the top destinations for aficionados of the beloved beverage.
- The number one city for coffee lovers is….
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