GM Stock Rose Despite a Union Dispute at a GM and Lg Battery Facility

GM Stock

General Motors (NYSE:GM)

The United Auto Workers have taken issue with the joint venture between General Motors (NYSE:GM) and the South Korean technology business LG Energy. The partnership is called Ultium Cells.

On Monday, the union said it had submitted a petition for a union election to the National Labor Relations Board to represent the 900 employees working at Ultium’s Ohio factor.

According to UAW President Ray Curry, “a majority of Ultium employees have signed cards allowing the UAW to represent them,” which was reported by the union. “Utium, a joint venture between General Motors and LG Energy Solution, has opted to reject democracy and postpone the recognition process by refusing to acknowledge the will of their majority. This decision comes from their refusal to recognize the majority’s desire. There can be no doubt about it: regardless of whether they join the UAW via a card check or an election, these employees will be members of the UAW.

GM stock praises its facility in Warren, Ohio, as a “2.8 million square foot complex” devoted to “the most modern and efficient battery cell production techniques.” According to the union, negotiations with management to represent the employees lasted for several months before finally breaking down.

Lead in the Electrode Department George Goranitis was quoted. by the union as saying, “We had hoped Ultium would have done the right thing so we can get on with the business of bargaining and addressing the serious health and safety issues in the plant.” The union cited Goranitis’s comments as evidence that Ultium failed to meet the expectations of its employees. “This decision by Ultium is a reminder to all of us why we need to join our union since the business does not care about our interests,” the statement said. “[T]he firm does not care about our interests.” We are prepared to triumph in this election.

By Monday’s late afternoon session, GM stock had climbed slightly.

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The shares of GM rose despite the ongoing labor dispute at the GM and LG battery facility.

Featured Image – Megapixl © Jetcityimage 

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