Seemingly quite satisfied and flush with cash after the UAW and Unifor agreements, General Motors has announced a $10 billion accelerated share repurchase and its intention to increase its common stock divided by a third.
Ford executives were particularly outspoken about the agreement, claiming it would bankrupt the company, but Stellantis also issued statements indicating great hardship. Almost immediately after the strike ended and the agreements were ratified, both companies announced stock buybacks. Ford has not done so but has also left is generous dividend unchanged.
David Zatz started what was to become the world’s biggest, most comprehensive Mopar site in 1994 as he pursued a career in organizational research and change. After a chemo-induced break, during which he wrote car books covering Vipers, minivans, and Jeeps, he returned with Patrick Rall to create StellPower.com for daily news, and to set up MoTales for mo’ tales.
David Zatz has around 30 years of experience in covering Chrysler/Mopar news and history, and most recently wrote Century of Chrysler, a 100-year retrospective on the Chrysler marque.
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