Canadian and U.S. autoworkers are both negotiating with the Detroit Three carmakers simultaneously for the first time in 25 years, creating the potential for a co-ordinated strike against one of the major producers.
Workers at the Canadian arms of Ford, General Motors and Stellantis this past weekend voted between 98 per cent and 99 per cent in favour of allowing Unifor to call a strike if bargaining committees fail to secure the collective agreements.
York University associate professor Steven Tufts says the strong strike mandate signals that the workers may not be happy with the current offers and are willing to strike and make gains.
“They do have a mandate that strong,” he said of the union representing 18,000 autoworkers.
“(The workers) may push the employer a little bit harder, not only to expand the investments but also to secure wage gains that a lot of workers want now, especially in a period of high inflation and higher interest rates.”
Along with a wage boost and commitments for electric vehicle production, Unifor wants to improve workers’ pensions. When automakers were on the brink of bankruptcy during the financial crisis of 2008-09, employees made significant pension concessions, including a shift toward defined contributions. Payne has said Unifor will be fighting to restore some of what was lost.
Detroit Three workers’ contracts, for Unifor in Canada and United Auto Workers south of the border, are set to expire days apart in September making it an interesting time for bargaining.
Tuft said while Unifor and UAW are bargaining at the same time, both unions have separate goals for their workers.
He said the Canadian Auto Workers are looking to secure and expand investment, with a focus on the transition to electric vehicle-related production.
“We’ve been focused in recent years on securing investment because the footprint in Canada was shrinking,” he explained.
He added that getting investments in electric vehicle manufacturing would secure jobs in Canada for years to come.
Daniel Ross, senior manager of automotive industry insights at Canadian Black Book, said the deal could be foundational for Canada’s electric vehicle industry.
“(This) could make us a definitive new car production powerhouse for the next generation of vehicles,” he said. “We need to have that foundation built down.”
The U.S. auto counterparts are focused on securing higher cumulative wages, pushing for a 40 per cent hike, which Tuft says is an attempt to make up for the lost territory in wages over the years.
Members of the United Auto Workers union also handed down a strike mandate with 97 per cent of members in favour.
Tuft said the strong mandate for strikes on both sides of the border could possibly lead to a continental shutdown of the auto sector if Unifor and UAW go out days or weeks apart.
Unifor is expected to announce their target company after the Labour Day weekend.
The union usually picks one automaker with which to concentrate bargaining. Whatever terms are agreed to with that target company general carry over to the other two.
Unifor will likely focus on Ford Motor Co. over General Motors or Stellantis as the lead automaker during this round of three-year contract talks, Unifor leader Lana Payne has said. Ford is most advanced and forthcoming on its electric vehicle transition plans and other negotiations, she said, but the union hasn’t announced a final decision.
Tuft said if the unions on both sides pick the same auto company, despite having different priorities, they could have a greater affect bargaining.
A potential strike could add to the COVID-19-induced supply chain issues that the industry is still recovering from.
Ross said if the union and employers fail to come to agreeable terms, it would affect the production of new vehicles, further dampening the automotive industry.
“As we know, the scenario is not perfect,” he said. “This is just going to be an insult to injury.”
— With files from Ian Bickis
This report by The Canadian Press was first published Aug. 28, 2023.
TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.
The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.
The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.
The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.
Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.
Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.
This report by The Canadian Press was first published Nov. 6, 2024.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
