Odd Lots

Steven Rattner on the UAW Strike and the Challenges of Bidenomics

Sep 22, 2023

Steven Rattner, former auto task force leader under Obama and CEO of Willett Advisors, shares insights on the UAW strike and its implications for labor and the auto industry. He discusses the balance between labor demands and the transition to electric vehicles, emphasizing the challenges faced by traditional automakers. Rattner also explores how current negotiations connect to historical concessions and the broader goals of Bidenomics, particularly in boosting domestic manufacturing and addressing competitive pressures in the global market.

51:15

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Steve Rattner

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Quick takeaways

The UAW strike and negotiations with automakers highlight the intersection of labor concerns, productivity, and long-term competitiveness in the evolving auto industry.

Transitioning to electric vehicles (EVs) poses challenges for legacy automakers, including potential strains on the workforce and questions about labor costs, competitiveness, and consumer demand.

Negotiations between the UAW and automakers are influenced by economic conditions, as well as the desire for workers to secure a larger share of profits while automakers balance financial constraints.

Deep dives

The Economic Backdrop and Power Dynamics Play a Key Role in UAW Strikes

The ongoing United Auto Workers (UAW) strikes against the Detroit three automakers are happening against the backdrop of historically low unemployment and post-pandemic reshoring efforts. The strong labor market has empowered workers to push for higher wages and better benefits. However, the global trend of reshoring also poses challenges for industries like autos that are grappling with the EV transition and competition from Chinese manufacturers. The tensions between the UAW and automakers highlight the intersection of labor concerns, productivity, and long-term competitiveness in the evolving auto industry.

Labor Problems and Environmental Concerns Impacting the Energy Transition

01:49

Intro

2min

UAW Strike: Historical Sacrifices and Current Demands

10min

Navigating the Intersection of Labor Demands and Electric Vehicle Transition

6min

Navigating Challenges in U.S. Manufacturing

17min

Navigating Domestic Semiconductor Production and Federal Deficit Challenges

5min

Navigating the Auto Industry's Electric Transition

16min

Support and Innovations in Labor and Economy

2min

When the US auto industry needed a restructuring or bailout in 2009, the Obama administration tapped former banker and investor Steven Rattner to lead the effort. As the government's "car czar," he helped shape an agreement that saw the United Auto Workers accept significant concessions in order to preserve the financial stability of the big three American carmakers. Now the UAW is on strike, with an aim of reversing many of those concessions and gaining new benefits for their workers. So what can the UAW reasonably accomplish? How plausible are their asks? And can US industry remain competitive with higher labor costs? On this episode of Odd Lots, we speak with Rattner to get his take on the negotiations, the challenge of the energy transition on the incumbent automakers, and the goals of Bidenomics more broadly, as the administration seeks to boost domestic manufacturing in areas like EVs, batteries, and semiconductors.

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Odd Lots

Steven Rattner on the UAW Strike and the Challenges of Bidenomics

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Economic Backdrop and Power Dynamics Play a Key Role in UAW Strikes

Legacy Automakers Face Challenges in Transitioning to Electric Vehicles

The Importance of Economic Backdrop and Timing in UAW Negotiations

Labor Costs and the Future of the Auto Industry

Prospects for Domestic Semiconductor Manufacturing

Labor Problems and Environmental Concerns Impacting the Energy Transition

Remember Everything You Learn from Podcasts