Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us
Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the
Speaker 1: iHeartRadio app and the Bloomberg Business App, or listen on
Speaker 1: demand wherever you get your podcasts.
Speaker 2: They are bad. Welcome back, lawmakers back from all four
Speaker 2: corners of our great nation to solve the problems facing
Speaker 2: us now, and that begins with averting a government shutdown. However,
Speaker 2: there are a lot of questions about whether that is
Speaker 2: possible with so few days left until of course, we're
Speaker 2: looking at midnight Saturday, and it's a whole other sound
Speaker 2: that we're going to talk about right now with Congressman
Speaker 2: Dan Kildee of Michigan. Yeah, that's from the picket line.
Speaker 2: The Congressman was there himself just a couple of days ago.
Speaker 2: This is sound right now live from Detroit, as members
Speaker 2: of the UAW anticipate a visit from President Joe Biden.
Speaker 2: He's on the ground. We saw his arrival with on
Speaker 2: fane from the UAW and Congresswoman Debbie Dingle. Unclear exactly
Speaker 2: what the choreography here will include, but we'll keep you posted.
Speaker 2: This is live sound though of the picket line as
Speaker 2: they wait for Joe Biden, who will be the first
Speaker 2: sitting president. We're told to ever visit a picket line.
Speaker 2: The optics here are quite remarkable. And that's where we
Speaker 2: begin with Dan Kildey, who joins us from Capitol Hill.
Speaker 2: A congressman. Is great to see, and we welcome you
Speaker 2: back here. I wonder if this results in an endorsement
Speaker 2: from the UAW. You are on that picket line. Is
Speaker 2: Joe Biden doing the right thing by being.
Speaker 3: There, Well, he's certainly doing the right thing for the
Speaker 3: American economy and for the American worker by being there.
Speaker 3: You know, we saw fourteen years ago the federal government
Speaker 3: intervene the workers in those factories make big sacrifices in
Speaker 3: order to keep the auto industry alive here in the
Speaker 3: United States, and we succeeded that sacrifice. Now I think
Speaker 3: should be repaid, and that's what the President is arguing for.
Speaker 3: That's what I'm arguing for, and that's what the UAW
Speaker 3: is negotiating for it to try to get back to
Speaker 3: where they were before the industry nearly fell. So he's
Speaker 3: definitely doing the right thing for the US economy. The
Speaker 3: politics takes care of.
Speaker 2: Itself There's been a lot of talk about competing interests,
Speaker 2: as some see it, between supporting organized labor in this
Speaker 2: case and pushing a transition to evs specifically not just
Speaker 2: green energy, but EV's within the auto industry. I wonder
Speaker 2: how the Democrats can straddle this and how the President
Speaker 2: can succeed by pushing these two because the union seems
Speaker 2: to see it in a different way. Congressman, how about you.
Speaker 3: Well, they may see it in a different way, but
Speaker 3: they don't fear the future. I mean, I talked to
Speaker 3: these workers on the picket lines. I talk to them
Speaker 3: in the grocery store. They're my neighbors. Yeah, they don't
Speaker 3: fear the transition to electric vehicles. What they fear is
Speaker 3: that the companies will use that transition as a way
Speaker 3: to take take work away from union workers and give
Speaker 3: it to unrepresented, non union shops. And so much of
Speaker 3: the negotiation is not so much about whether the world
Speaker 3: will change and more vehicles will be electric. That's going
Speaker 3: to happen no matter who builds them. The question for us,
Speaker 3: for those workers is to make sure they have their
Speaker 3: share of that future, not that they have that new
Speaker 3: that transition used as a mechanism as a way or
Speaker 3: an excuse to take work away from union jobs.
Speaker 2: Congressman, the President is just now speaking to members on
Speaker 2: the picket line.
Speaker 4: Here.
Speaker 2: He's standing next to Sean Fain with a bullhorn in
Speaker 2: his hand. Let's just listen to this for a moment
Speaker 2: and hear what he says.
Speaker 4: It's right here in our own in our own area.
Speaker 4: It's corporate greed and the weapon we produced to fight
Speaker 4: that enemy. Yes, liberators, the crew, liborators, the last people,
Speaker 4: all of you working your butts off on those lines
Speaker 4: to deliberate product companies. That's how we're gonna defeat these people.
Speaker 4: That's how we're gonna defeat corporate greed is by standing together.
Speaker 1: You know, this is a historic moment.
Speaker 4: The first time in our country's history that is sitting
Speaker 4: us a president has came out and stood on the
Speaker 4: picking line, chose to stand up with workers in our
Speaker 4: fight for economic and social justice.
Speaker 2: All right, that's Sean Fain. We had just missed the
Speaker 2: tail end of President Biden's remarks, which were apparently only
Speaker 2: a couple of seconds long. Congressmen, the optics here are
Speaker 2: really something, because I'm also remembering a day when the
Speaker 2: executives from the Big Three were on the north lawn
Speaker 2: of the White House with President Biden, with a big
Speaker 2: crowd there to usher in the transition to evs and
Speaker 2: essentially helping him promote Bidenomics. Are those not competing interests.
Speaker 3: I really don't think they are. In fact, I was
Speaker 3: there with the President and the leaders of the Big Three,
Speaker 3: and I was there on the picket line, all supporting
Speaker 3: the same thing. This is really about how the structure
Speaker 3: of the economy in the next one hundred years will look.
Speaker 3: The last hundred years we saw the rise of the
Speaker 3: labor movement and the construction of the middle class in
Speaker 3: this country. So as we make this transition, and it's
Speaker 3: inevitable that we will, the technology will drive that. The
Speaker 3: real question is whether or not the workers who help
Speaker 3: save those companies will also be in a position to
Speaker 3: get the new work that will be developed as a
Speaker 3: result of the transition to electric vehicles. It's different work,
Speaker 3: it's a different kind of material that is used. Products
Speaker 3: are going to be different, but they're going to be
Speaker 3: assembled by somebody. And what UAW was saying, what I'm saying,
Speaker 3: and I know the President is saying, is that those
Speaker 3: jobs ought to be American jobs. They ought to be
Speaker 3: union jobs. They ought to be done by the same
Speaker 3: people who helped build those companies in the first place,
Speaker 3: and fourteen years ago made a sacrifice to rescue those
Speaker 3: companies from extinction.
Speaker 2: Yeah, we're spending time with Congressman Dan kilde Democrat from
Speaker 2: Michigan with us as President Biden visits the picket line,
Speaker 2: and it's one that Dan Kildy is no stranger to.
Speaker 2: We had a grand debate, of course, about the Chips Act,
Speaker 2: the Inflation Reduction Act, the IRA Congressman. You talked to
Speaker 2: us in the throes of that debate. Were there enough
Speaker 2: considerations for workers in that legislation.
Speaker 5: Yeah.
Speaker 3: I would have liked to have seen more. The way I,
Speaker 3: for example, wrote some of the legislation that I authored
Speaker 3: regarding the transition to electric vehicles would have required or
Speaker 3: given a stronger bonus for that union work. But that's
Speaker 3: not how it worked out. Much of it is left
Speaker 3: to how we implement, and that's why I think it's
Speaker 3: important who the President of the United States is. What
Speaker 3: we're seeing now is unprecedented growth in those jobs that
Speaker 3: are directly related to renewable energy, to electrification of transportation,
Speaker 3: A lot of that is coming home, and that's because
Speaker 3: we've created an environment where there are incentives for private
Speaker 3: capital make those sorts of investments. That's a good thing.
Speaker 3: Of course, I would like to have been able to
Speaker 3: do more, but what we've done is really significant, and
Speaker 3: were beginning to see the results of that.
Speaker 2: Any sense of how long this is going to drag
Speaker 2: on for.
Speaker 3: No, I don't have a good sense of that. It's
Speaker 3: going to be determined by not the President, not myself.
Speaker 3: It's going to be determined by the UAW and the
Speaker 3: company is sitting across the table. My hope is that
Speaker 3: it's sooner rather than later. But you know what, I'll
Speaker 3: stand with the workers. As long as they're fighting for
Speaker 3: fair wage for themselves and their families, they're going to
Speaker 3: have us with them.
Speaker 2: Well, I have to ask you about what you're up
Speaker 2: to on Capitol Hill now, and that is, of course,
Speaker 2: trying to keep the government functioning. Here and talk about
Speaker 2: a couple of competing headlines. This is on the Bloomberg
Speaker 2: terminal right in front of me, McCarthy working overtime to
Speaker 2: overcome hard right before shutdown. That's one story. The other one,
Speaker 2: McCarthy says, House will pass stopgap with border security. And
Speaker 2: now we understand the Speaker is asking for a meeting
Speaker 2: with the President on border security when we have something
Speaker 2: like four or five days to figure all of this out.
Speaker 2: Are we beyond the point of saving this situation? Congressman,
Speaker 2: Is the government going to shut down this weekend?
Speaker 3: Well, I fear that it will, because you know, Speaker
Speaker 3: McCarthy talks a good game, but it's actions that speak
Speaker 3: louder than words. On Thursday, he sent everybody home. Here
Speaker 3: it is Tuesday. Congress is just now being called back
Speaker 3: into session with just a few hours left to prevent
Speaker 3: a total shutdown of the US government. You know, this
Speaker 3: is not a time to be having nuanced conversations about policy.
Speaker 3: This is the time for us to roll up our
Speaker 3: sleeves and keep the government open. And let's face it,
Speaker 3: what Speaker McCarthy's really doing is trying to remain speaker.
Speaker 3: He made a bad deal with some of the most
Speaker 3: extreme members of the United States Congress, and unfortunately he's
Speaker 3: requiring us to pay the price for that bad deal
Speaker 3: with the threat of a shutdown. The solution is a
Speaker 3: bipartisan solution. I'm a member of the Bipartisan Problem solvers caucuss.
Speaker 3: We've offered our solution. We had a bipartisan budget deal
Speaker 3: back in May. I would put that on the table
Speaker 3: as a solution. That's how it's going to end. The
Speaker 3: question is what sort of pain do we have to
Speaker 3: go through between now and then? And we ought to
Speaker 3: be playing chestnut checkers. We ought to look a couple
Speaker 3: of moves down the game and get there sooner rather
Speaker 3: than later and try to prevent some of the harm
Speaker 3: that will come from a shutdown.
Speaker 2: Well, you're on the Ways and Means Committee, you serve
Speaker 2: on the Budget Committee. You must be hearing things that
Speaker 2: we don't hear. Congressman. Is the Senate going to get
Speaker 2: us stopgap bill to the House before Speaker McCarthy does.
Speaker 3: Well, I hope they do. I've talked to my senators.
Speaker 3: I've encouraged them to take up legislation that would be
Speaker 3: a bipartisan spending package, include a short term and long
Speaker 3: term implication, and send that over to the House and
Speaker 3: then see if the Speaker McCarthy would put that bipartisan
Speaker 3: deal on the table. If he doesn't, obviously he owns
Speaker 3: this shutdown either way, but he could prevent it by
Speaker 3: simply doing that and then sharpen his arguments, and if
Speaker 3: he wants to have those conversations about policy, we're all ears.
Speaker 3: We just don't want to do it with the threat
Speaker 3: of a shutdown of the American government as his leverage
Speaker 3: in getting something that he can't get through the normal
Speaker 3: legislative process.
Speaker 2: Well, you said something interesting. It's amazing to me how
Speaker 2: short memories are. But there was a deal back in
Speaker 2: August when we were heading for a potential government default
Speaker 2: that was supposed to prevent all of this drama. What
Speaker 2: if Speaker McCarthy did bring that bill back to the
Speaker 2: floor that's already passed. Could it pass again today?
Speaker 3: Absolutely? You had two thirds of Republicans voted for it,
Speaker 3: almost three quarters of Democrats voted. That was obviously a
Speaker 3: bipartisan deal. I got over three hundred votes in the
Speaker 3: House of Representatives.
Speaker 2: Now, is this whole drama about avoiding emotion to vacate it?
Speaker 3: Sure is. The entirety of this drama is about the
Speaker 3: Speaker trying to avoid that motion to vacate, which obviously
Speaker 3: was a mistake for him to agree to in the
Speaker 3: first place. I mean, he changed the rules to give
Speaker 3: his I guess a dozen or so true opponents in
Speaker 3: the Republican Conference the tool that they're now using against him.
Speaker 3: That was a mistake. But you know what, if he
Speaker 3: wants to have a conversation about how to handle this
Speaker 3: whole thing and a bipartisan fashion, he should call Leader
Speaker 3: Hakim Jeffries, and he should do it right away because
Speaker 3: we're I'm sure willing to come to the table and
Speaker 3: have that conversation.
Speaker 2: If the Speaker said I'm just going to go for it,
Speaker 2: I'm going to bring this Senate seear to the floor,
Speaker 2: or the deal we already made, or the options that
Speaker 2: you forwarded and Matt gets or someone did trigger the
Speaker 2: motion to vacate, would Democrats come to the Speaker's defense
Speaker 2: to help him keep the job.
Speaker 3: I mean, it's hard to say. I would have to
Speaker 3: have a conversation with our leader on that question, but
Speaker 3: I will say this, I'm not super excited about being
Speaker 3: a party to Republican dysfunction in the House and the
Speaker 3: deals that they've made with one another, putting us in
Speaker 3: a position where we have to make that kind of
Speaker 3: a call. If the Speaker's really interested in trying to
Speaker 3: avoid that eventuality and he wants Democrats to be involved,
Speaker 3: he should make that call to Leader Jeffries.
Speaker 2: I'm glad you could talk to us today. Congressman Dan Kildy,
Speaker 2: great to have you back Democrat Michigan's eighth district with
Speaker 2: us live there joining us from the Canon Rotunda in Washington.
Speaker 2: You would have known that, or maybe you did by
Speaker 2: watching us on YouTube, where we invite you as always,
Speaker 2: search Bloomberg Global News and click play.
Speaker 1: There we are.
Speaker 2: Cameras are lit up in the studio as we assemble
Speaker 2: our panel. Rick Davis joins Bloomberg Politics contributor and Republican
Speaker 2: strategist along with Alvin Jordan Rock Solutions, Vice President Democratic Analysts. Gentlemen,
Speaker 2: it's great to have both of you here. Alvin, I'll
Speaker 2: start with you, as the Democrat. Do you want to
Speaker 2: see your president there today? As the first sitting president
Speaker 2: on a picket line has got the bullhorn out right now,
Speaker 2: shaking hands.
Speaker 6: Absolutely. I think we're at a place where it is
Speaker 6: more than warranted. I think the political type rope that
Speaker 6: the president finds himself in is one that makes it
Speaker 6: understandable that he would be there. And all of that
Speaker 6: is in addition to the fact that you know president
Speaker 6: or the former President Trump will be there tomorrow, and
Speaker 6: so it is very much, I think a race to
Speaker 6: be kind of first in that way, inside you kind
Speaker 6: of have to take a step back and applied kind
Speaker 6: of the effort, I believe, especially considering that it is
Speaker 6: a bit of a political tyro, considering that the push
Speaker 6: forward ev and things of that nature is so prominent
Speaker 6: and also present in the conversation as well. Definitely, you know,
Speaker 6: a new time that we find ourselves.
Speaker 2: In, Rick Davis, What does the President say to Mary
Speaker 2: Bara what she calls him later on?
Speaker 7: You know, Look, I mean I think that he's going
Speaker 7: to say what he's been saying since he was first
Speaker 7: elected to Congress, I'm the Union President, and he's acting
Speaker 7: that way today. Look, I mean he was kind of
Speaker 7: forced into this by Donald Trump announcing that he was
Speaker 7: headed there, and.
Speaker 5: Joe Biden wants a rose Garden strategy.
Speaker 7: But I think today signals the end of the rose
Speaker 7: Garden strategy. I think the two biggest impacts is he's
Speaker 7: forced to go and hang out with his Union buddies,
Speaker 7: which which he should.
Speaker 5: Have done to begin with.
Speaker 7: And all the polling now indicates that he's either an
Speaker 7: a horse racer behind he needs to start a campaign today.
Speaker 2: Well, there you have it. From Rick Davis and Alvin Jordan.
Speaker 2: The campaign is on, and a lot more from our
Speaker 2: panel straight ahead on the fastest show in politics. I'm
Speaker 2: Joe Matthew. This is Bloomberg.
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch the
Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the
Speaker 1: tune in alf, Bloomberg dot Com, and the Bloomberg Business App.
Speaker 1: You can also listen live on Amazon Alexa from our
Speaker 1: flagship New York station, Just say Alexa play Bloomberg eleven thirty.
Speaker 2: Joe Biden has now officially become the first president to
Speaker 2: visit a picket line. He chose Detroit, Wayne County. Of course,
Speaker 2: the UAW now day twelve of the strike against the
Speaker 2: Big Three. Another reason I guess that this becomes historic times.
Speaker 8: Well, Street didn't over conquer the milk.
Speaker 4: Built class. So let's keep going.
Speaker 1: You deserve what you've earned, and you've.
Speaker 8: Earned a hell of a lot more than you're getting
Speaker 8: paid now.
Speaker 2: You deserve what you've earned, and you've earned more than
Speaker 2: you're getting now, so says Joe Biden. As we reassemble
Speaker 2: our panel, Rick Davis is with US Republican strategist Bloomberg
Speaker 2: Politics contributor, joined today by Alvin Jordan, Democratic analyst Rock
Speaker 2: Solutions Vice President. There are your optics, Rick, Was it
Speaker 2: the right move here to show up a day before
Speaker 2: Donald Trump? Did the President just get something for himself?
Speaker 5: Yeah? I think so.
Speaker 7: I think he is really in, even though this is
Speaker 7: probably not a campaign event. I don't know, but he's
Speaker 7: he's really This is the this is the kind of
Speaker 7: campaign Joe Biden wants to wag. He wants to be
Speaker 7: amongst the union members. He wants to be talking about
Speaker 7: their struggle for fairness. He wants to be talking about
Speaker 7: the middle class and the pressure they've been under. And
Speaker 7: it's a huge change of message, change of pace for him,
Speaker 7: and it fits who Joe Biden is. So as you
Speaker 7: can hear from the clip, he sounds really comfortable talking
Speaker 7: about Biden for their rights as blue collar workers. So
Speaker 7: you know, it is going to stress out some of
Speaker 7: those people who would prefer him to stay in the
Speaker 7: White House and campaign from the Rose Garden. But I
Speaker 7: think he's out there now and he's comfortable, and I
Speaker 7: wouldn't be surprised if he doesn't start doing this more often.
Speaker 2: It'll be a picket line campaign. I guess, Alvin, what
Speaker 2: do you think, Alvin about Rick's point that this is
Speaker 2: kind of really the beginning of the Biden reelection campaign?
Speaker 2: Does it begin today?
Speaker 6: It has to write? I think just the fact that
Speaker 6: the president is there shows the sense of urgency that
Speaker 6: you know, we found ourselves. And I think, you know,
Speaker 6: also the important point to consider is, you know, just
Speaker 6: as much as this is about the picket lines themselves,
Speaker 6: the real question is who the UAW will endorse next
Speaker 6: year for the election, and so I think this is
Speaker 6: the perfect place to kick it off in that way.
Speaker 6: You know, the many will say that it's a bit
Speaker 6: too late in the game, but I think just right
Speaker 6: ahead of the former president showing up tomorrow, it definitely
Speaker 6: sets the scene.
Speaker 2: Alvin. Isn't the first move Republicans make here is putting
Speaker 2: an ad together of Joe Biden with the leaders of
Speaker 2: all the big three. I asked Congressman Kilde about this earlier.
Speaker 2: He spent a lot of time over the past couple
Speaker 2: of years with executives like Mary Barrow, the leaders of
Speaker 2: Ford and Stillantis. I guess we used to call Chrysler
Speaker 2: he's brought him to the White House, he's gone to Detroit.
Speaker 2: It's really been it seems like pretty productive relationships so far.
Speaker 2: Wouldn't that be the first thing Republicans remind us of?
Speaker 6: I mean, I would think so, I think, why not?
Speaker 7: Right?
Speaker 6: But I do think when you take a step back
Speaker 6: and look at it in totality, you realize that it
Speaker 6: really is a bit of a tightrope, if you will.
Speaker 6: And I think that, you know, just as much as
Speaker 6: their support for kind of our our labor president, if
Speaker 6: you will, and his kind of staunch support of unions, uh,
Speaker 6: you know, historically, I think there has to be you know,
Speaker 6: room for you know, kind of the look ahead as
Speaker 6: far as where the country is going relative to to EV.
Speaker 6: And I think, you know, part of the reason why
Speaker 6: we'll probably hear you know, President Biden making such you know,
Speaker 6: kind of quick and nimble remarks is for the sole
Speaker 6: fact that the talking points can't sway too far in
Speaker 6: one way or the other, because, you know, let's not
Speaker 6: kid ourselves. We still are talking about a massive switch
Speaker 6: to to EV that's already underway, and so I don't
Speaker 6: necessarily think that that one kind of outweighs the other
Speaker 6: when when you look at it from a business perspective,
Speaker 6: at least.
Speaker 2: Rick Davis speak to the contrast. Now, what's going to
Speaker 2: happen tomorrow. Donald Trump's going to go to Detroit. It's
Speaker 2: going to be more of a prime time more of
Speaker 2: a formal address. Joe Biden's standing in in a parking
Speaker 2: lot or something with these guys with a bullhorn. And
Speaker 2: I'm sure that this is all deliberate. Donald Trump's going
Speaker 2: to do his normal thing. I suspect a lot of
Speaker 2: people show up. But what is his message here to
Speaker 2: compete with what we just saw and heard, knowing that
Speaker 2: that pay gap among workers versus executives in the Big
Speaker 2: Three existed during his presidency.
Speaker 7: Yeah, well, he'll ignore history and he'll queue off of
Speaker 7: what Joe Biden's saying today. Right, He'll take everything that
Speaker 7: Joe Biden said as to the plight of the unions
Speaker 7: and say, Joe Biden's responsible for that. He's the reason
Speaker 7: that the middle class is on your pinch. His inflation
Speaker 7: is the reason that you're spending powers reduced. He's the
Speaker 7: reason gas prices are going up through the roof. I
Speaker 7: mean like he's just going to unload on the guy,
Speaker 7: and probably that would be sort of a normal campaign approach,
Speaker 7: but I'm sure he'll throw in all kinds of other
Speaker 7: crazy stuff because I'm must say, I mean, the Donald
Speaker 7: Trump campaign doesn't disappoint when it comes to up in
Speaker 7: the ante on crazy. So we'll be talking about all
Speaker 7: kinds of interesting things that Donald Trump has said and
Speaker 7: in contrast to what I think is probably a pretty
Speaker 7: sober debate by his GOP opponents going on at the
Speaker 7: same time. And so who do you think the media
Speaker 7: is going to cover that crazy? And I think that's
Speaker 7: exactly what Donald Trump has in mind.
Speaker 2: Well, you you went there. Let's talk about the debate
Speaker 2: for a moment. That's going to be the counter programming
Speaker 2: tomorrow night. Asa Hutchinson did not make the stage, so
Speaker 2: the field is winnowed by one. I'm guessing tomorrow night
Speaker 2: is not a good night to be round Santas Alvin, what.
Speaker 6: Do you think, honestly, I don't know that it hurts tomorrow,
Speaker 6: To be honest, I really think that we're talking about
Speaker 6: the race for SACON at this point. At this point,
Speaker 6: and so honestly, as the nation tunes in, I think
Speaker 6: it'll be just you know, who's going to be, you know,
Speaker 6: the opposing figure when we all you know, kind of
Speaker 6: get get down to the nitty gritty if you will.
Speaker 6: And so I don't necessarily know tomorrow if if it
Speaker 6: is you know, kind of bad to be, you know
Speaker 6: Ron Decantis or or you know, Governor Chris Christy or
Speaker 6: whoever you want to throw in there. I think whoever
Speaker 6: is able to kind of capture, you know, those kind
Speaker 6: of quick sound bites that are able to be shared
Speaker 6: over the days following. Well, of course, you know, kind
Speaker 6: of help themselves. But you know, it just it never
Speaker 6: it never hurts to to you know, kind of move
Speaker 6: the needle in that way. But you know, when we
Speaker 6: look at it, Trump is so far and head of
Speaker 6: the feel in that way that I really think that tomorrow,
Speaker 6: you know, barring some type of you know, curveball or theatrics,
Speaker 6: you know, it really is just kind of window dressing,
Speaker 6: if we're being honest about it.
Speaker 2: Well, it seems to me that you know, at least
Speaker 2: in most polls, Ron de Santis remains in seconds. So
Speaker 2: I don't know if it's a dogpile on Ron as
Speaker 2: you put it once, Rick, or if it's a different
Speaker 2: story tomorrow. But listen to Tonald Trump at a speed.
Speaker 2: Yesterday he's talking about this upcoming debate and this is
Speaker 2: actually on Fox, and he's telling people not to watch
Speaker 2: the debate on Fox. Here we go. They you ought
Speaker 2: to stop wasting the time.
Speaker 9: You know, they're wasting a lot of time with these
Speaker 9: ridiculous debates that nobody's watching. Their last debate was the
Speaker 9: lowest rated debate in history.
Speaker 2: That's a good.
Speaker 9: Compliment, is it?
Speaker 1: Now?
Speaker 9: What was I doing, Marjorie? I was someplace else, wasn't
Speaker 9: I have? I was doing another interview. We had two
Speaker 9: hundred and seventy one million people listening to the Tucker
Speaker 9: Carlson interview.
Speaker 2: That's an old time. They love it.
Speaker 10: So here we are back in the thick of campaign,
Speaker 10: right we are.
Speaker 2: Just Ana Parino jumps in and they go to something else. Rick,
Speaker 2: This I suspect is not helping Fox. But is there
Speaker 2: some truth to what Donald Trump said?
Speaker 1: Here?
Speaker 2: I mean, who's watching this thing tomorrow?
Speaker 5: Yeah? How happy is Rupert Murdoch to have retired just now? Yeah?
Speaker 7: I mean doesn't care whose show he's on. It's the
Speaker 7: Donald Trump hour whenever he's on TV. And you've got
Speaker 7: to take whatever he gives you and look, I mean
Speaker 7: he's it's smart on his part. Don't watch that debate.
Speaker 7: As Alvin said, it's a fight for second. Who cares
Speaker 7: second doesn't win, and he's got some good talking points
Speaker 7: because nobody's really challenged him. And now Asa Hutchinson's not
Speaker 7: even going to be into debate. He's one of the
Speaker 7: most vociferous critics of Trump. We'll see what Christine does
Speaker 7: to try and take advantage of the one percent that
Speaker 7: Asa had to maybe try and get them on board
Speaker 7: with his campaign. But I would say it's not for
Speaker 7: not pulls our shrinking on Donald Trump in Iowa, New Hampshire,
Speaker 7: that's where the campaign actually is occurring, not in the
Speaker 7: other forty eight states. And you do see some movement
Speaker 7: by Nicki Haley in the most recent poll overtaken Ron
Speaker 7: DeSantis in New Hampshire. There's life out there, and so
Speaker 7: it's too soon to turn off the tube. It's too
Speaker 7: soon to be over confident by Donald Trump. But you're
Speaker 7: never going to change that. But I do think it
Speaker 7: will be interesting to see exactly what happens tomorrow night.
Speaker 2: It sure will. I don't know what Joe Biden's going
Speaker 2: to start doing a counter program these things. But we
Speaker 2: can have that conversation on another day with Frick and
Speaker 2: Alvin coming up next. Calls for Senator Bob Menendez to
Speaker 2: resign grow ever louder and a very important voice from
Speaker 2: New Jersey has joined those calls, and we haven't even
Speaker 2: talked shutdown with our panelneck. So stay with us.
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us
Speaker 1: live weekdays at one eastern on Bloomberg dot com, the
Speaker 1: iHeartRadio app, and the Bloomberg Business app, or listen on
Speaker 1: demand wherever you get your podcasts.
Speaker 2: Well, bad situation apparently just got a lot worse for
Speaker 2: Senator Bob Menendez, just indicted, of course, days ago on
Speaker 2: federal corruption charges. We've had, I don't know what it was,
Speaker 2: nine or ten, eleven the most recent count of senators
Speaker 2: criticizing Bob Menendez calling for his resignation. But the big
Speaker 2: one just drops. As you've been hearing on Bloomberg, Senator
Speaker 2: Corey Booker called on his fellow New Jersey Democrat to
Speaker 2: step down. Didn't say anything in front of a camera
Speaker 2: or a microphone, but out with a statement quote the
Speaker 2: details of the allegations against Senator Menendez are of such
Speaker 2: a nature that the faith and trust of New Jerseyans,
Speaker 2: as well as those he must work with in order
Speaker 2: to be effective, have been shaken to the core. He
Speaker 2: goes on to say, stepping down is not an admission
Speaker 2: of guilt, but an acknowledgment that holding public office often
Speaker 2: demands tremendous sacrifices at great personal cost. To here we
Speaker 2: are said, he was ready yesterday for any cost, it seemed,
Speaker 2: Senator Benendez.
Speaker 11: For thirty years, I have withdrawn thousands of dollars in
Speaker 11: cash from my personal savings account, which I have kept
Speaker 11: for emergencies and because of the history of my family
Speaker 11: facing confiscation in Cuba. Now this may seem old fashioned,
Speaker 11: but these were moneies drawing from my personal savings account
Speaker 11: based on the income that I have lawfully derived over
Speaker 11: those thirty years.
Speaker 2: Stuffed in pockets in clothing, no mention of the golden bars.
Speaker 2: As we reassemble our panel, Rick Davis is joining us.
Speaker 2: If you're with us on YouTube, wouldn't you like to
Speaker 2: be where Rick is? In sunny Arizona. Bloomberg Politics contributor
Speaker 2: Republican strategist Alvin Jordan's backed Democratic analysts from rock solutions. Rick,
Speaker 2: I've never heard of anything quite like this, just going
Speaker 2: back through yesterday's news briefing, but this update now from
Speaker 2: Corey Booker. Is Bob an Endez done well?
Speaker 5: He's certainly on the way to be done.
Speaker 7: I mean, it is quite unusual for other members of
Speaker 7: the United States Senate, the probably most exclusive club on
Speaker 7: the face of the earth, to criticize other members of
Speaker 7: the Senate, and so this is a major departure from
Speaker 7: the normal decorum.
Speaker 5: The deference that has shown. And I would say Corey Booker, very.
Speaker 7: Popular Democratic senator from New Jersey, carries a lot of
Speaker 7: influence in that state, and I am sure they are
Speaker 7: thinking about how to defend this seat in the upcoming
Speaker 7: elections because Menendez was up and who's going to be running.
Speaker 7: Can't imagine a scenario where Center Menendez is able to
Speaker 7: successfully defend a seat under this cloud.
Speaker 2: I'll ask you the same thing, Alvin, is is it
Speaker 2: curtains for Bob Menendez?
Speaker 6: For sure? I think you know, if we're taking a
Speaker 6: pole of when you can you know, tell or determine
Speaker 6: when when it's over, it's when you look around and
Speaker 6: your you know, kind of top allies are coming out
Speaker 6: to say, hey, I think I think it's just time
Speaker 6: to step down, and even with the window addressing if
Speaker 6: it's not in a mission of guild, and we all
Speaker 6: understand that, but the optics are what they are, and
Speaker 6: at this point, you know, if it's not over, it
Speaker 6: will be very very shortly.
Speaker 2: He says, he's going nowhere. Rick, what happens if three
Speaker 2: four months go by and the Senate, you know, kind
Speaker 2: of has its own George Santos, Does everyone move on?
Speaker 5: No? I think this is going to linger.
Speaker 7: He was able to sort of get through a previous indictment,
Speaker 7: he was ultimately not convicted and survived it. But I
Speaker 7: think this is significantly different. I think this is salacious
Speaker 7: in the storyline, and that's going to stick with him.
Speaker 5: And I think that it's going to be up to the.
Speaker 7: Leadership Democratic leadership to put heat on him to say, look,
Speaker 7: you're an important guy, you've done well. You need to
Speaker 7: defend yourself in court, not in a re election. You
Speaker 7: need to step aside so we can run somebody who
Speaker 7: can hold that seat, because that is a critical seat
Speaker 7: for the Democra a majority in the Senate.
Speaker 2: I haven't asked either of you guys about what's going
Speaker 2: on in the House, never mind the Senate when it
Speaker 2: comes to a potential shutdown, this these questions. I feel
Speaker 2: insane at this point asking people every day about this,
Speaker 2: but there's apparently no solution in time. There just isn't
Speaker 2: enough time legislatively speaking, here to avoid a shutdown. Alvin,
Speaker 2: is that your expectation for Saturday at midnight?
Speaker 6: It sure seems like we're on the way to it,
Speaker 6: you know, as we look around with you know, just
Speaker 6: how it's played out with you know, the House being
Speaker 6: sent home last week and brought back this week, We're
Speaker 6: we're really just running out of time. I mean, you know,
Speaker 6: there are only so many hours in a day, and
Speaker 6: the conversations that have been had up to this point
Speaker 6: have proved to be you know, completely empty in that way,
Speaker 6: and I think where we are is at a point of,
Speaker 6: you know, if the shutdown indeed happens, that you know,
Speaker 6: we're really you know, just looking solely at House Republicans
Speaker 6: in that way, as we've completely just not not been
Speaker 6: efficient in our talks. And again, you know, there there's
Speaker 6: no need for any any policy here. We just need
Speaker 6: to you know, find a solution. And I don't think
Speaker 6: that that is going to happen in time.
Speaker 2: Yeah, well, I mean, even if it showed up today,
Speaker 2: there's not enough time to get all of this done.
Speaker 2: It appears, Rick, there's talking. We discussed this with Congressman
Speaker 2: Killed the earlier in the hour, the Senate delivering a
Speaker 2: continuing resolution a stopgap bill to the House at some
Speaker 2: point before the end of the week. Chuck Schumer's moving
Speaker 2: on that today. It's also been suggested that Speaker McCarthy
Speaker 2: needs to let things shut down just to curry favor,
Speaker 2: let some of the bad blood out of the House
Speaker 2: before he deals with things and starts working with Democrats
Speaker 2: to pass a CR. Is that how this ends?
Speaker 6: It might.
Speaker 5: There's obviously not a clear endgame for the Speaker.
Speaker 7: Every avenue he's tried have been thwarded by different members
Speaker 7: of his caucus on the far right.
Speaker 5: And so I think he's in a trap position.
Speaker 7: I think your interview with Dan Kilde you remember the
Speaker 7: Ways of me as a Budget Committee was really timely
Speaker 7: because I think he has actually the right idea. Pick
Speaker 7: up the phone and call Hakim Jefferies. He can actually
Speaker 7: help you pass all of this stuff by Saturday's deadline.
Speaker 7: But you can't spend all your time negotiating with Matt
Speaker 7: Gatz if you expect to get this done.
Speaker 5: So there is a pathway.
Speaker 7: It's just a question as to whether or not the
Speaker 7: Speaker has come to the end of his rope, because
Speaker 7: even if you get through this with a short time
Speaker 7: shutting down the government, you still have to pass all
Speaker 7: these spending bills and you're right back into the fire.
Speaker 7: And so that's a big question for me, is whether
Speaker 7: or not this is a Bayner type exit where he
Speaker 7: gets his spending done and then exit the stage and
Speaker 7: leave the chaos caucus to itself.
Speaker 2: Is there anyone else to take that job?
Speaker 7: Well, there's always somebody who wants to be Speaker, and
Speaker 7: my guess is probably not his Number two Steven Scales.
Speaker 5: He's fighting cancer right now.
Speaker 7: But there are a lot of talented people who've served
Speaker 7: in his group, and any one of them could step
Speaker 7: up without the deal that exists that allows one person
Speaker 7: to call in the question his leadership.
Speaker 2: Amazing. Rick Davis and Alvin Jordan, great conversation today. They're
Speaker 2: back with us for some final thoughts. Next here on
Speaker 2: the Fastest Show in Politics, I'm Joe Matthew In Washington,
Speaker 2: where there are clouds hanging over the Capitol.
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch the
Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the
Speaker 1: tune in app, Bloomberg dot Com, and the Bloomberg Business App.
Speaker 1: You can also listen live on Amazon Alexa from our
Speaker 1: flagship New York station just say Alexa playing Bloomberg eleven thirty.
Speaker 2: I look back to where we were at this time yesterday.
Speaker 2: Little has changed with regard to shut down politics. But
Speaker 2: we saw history in the making, at least briefly with
Speaker 2: President Biden. We didn't know exactly what the choreography for
Speaker 2: this whole thing would be, but he did get on
Speaker 2: the picket line, so to speak, grabbed a bullhorn, yep,
Speaker 2: made good on his promise, and based on what we're reading,
Speaker 2: made history indeed.
Speaker 12: And that's what Sean Fain had to say. This is
Speaker 12: the first time a sitting US president has done this,
Speaker 12: and that's exactly what Biden did. He had some pretty
Speaker 12: supportive words for union members.
Speaker 2: Sure did.
Speaker 8: Let's listen, U aw you sved the automobile industry back
Speaker 8: of two of the H fours made a lot of
Speaker 8: sacondviics gave him a lot, and the companies were in
Speaker 8: trouble and now they're doing incredibly well. And guess what
Speaker 8: you should be doing incredibly well too.
Speaker 2: He says, they need to step up for us, Kaylee,
Speaker 2: and he sure sounded like a union leaders. Yes there
Speaker 2: you are, Yes, you say so. It's in us versus
Speaker 2: the when you put it like that. But I've been
Speaker 2: making the point or at least reminding people the number
Speaker 2: of times he had the leaders of the Big Three
Speaker 2: at the White House to help forward the transition to
Speaker 2: EVS and thus Bidenomics. So what's the next phone call
Speaker 2: with Mary bar are going to be?
Speaker 6: Like?
Speaker 12: That's a really good question. This is the conundrum for
Speaker 12: the Biden administration. On the one hand, this president wants
Speaker 12: to be both the most pro union and history. On
Speaker 12: the other hand, he wants to be a climate president
Speaker 12: and advanced his EV agenda and a transition to electric
Speaker 12: vehicles powered by clean energy. So it's very difficult when
Speaker 12: you have the company saying, on the one hand, we
Speaker 12: can't afford this what they're asking for. The President was
Speaker 12: asked at the picket line if he thought the UAW
Speaker 12: should get a forty percent raise. He said, yes, but
Speaker 12: you need automakers to be able to afford to invest
Speaker 12: extra profits into advancing technology, like when it comes to EV's.
Speaker 2: We spoke earlier in the program with Congressman Dan Kildey,
Speaker 2: a Democrat from Michigan, who was on the picket line
Speaker 2: two days ago and didn't even try to wager on
Speaker 2: how long the strike might go for, but seems to believe,
Speaker 2: in fact believes very strongly that these are not competing mandates.
Speaker 2: If you will. We talk a lot about the FEDS
Speaker 2: dual mandate, and the President's got his own. Yeah, support
Speaker 2: union labor and transition to evs, and they're bumping into
Speaker 2: each other.
Speaker 12: Yeah, it's a you want your cake and to eat
Speaker 12: it too. And of course you had the likes of
Speaker 12: Transportation Secretary Pete Buddha Judge over the weekend saying this
Speaker 12: should be a win win, everybody should win. I guess
Speaker 12: it's just a question of if everybody can.
Speaker 2: Yeah, well, put as we bring in Sharon Block, I've
Speaker 2: been looking forward to this conversation. I know you have
Speaker 2: two Kaylee, Professor of Practice and executive director at the
Speaker 2: Center for Labor and adjust Economy at Harvard Law, with
Speaker 2: quite a resume, former member of the National Labor Relations
Speaker 2: Board and former senior advisor of the Biden Harris transition team,
Speaker 2: and Sharon has one foot set in the future here
Speaker 2: as we look at an evolving workforce. Sharon, it's great
Speaker 2: to have you welcome to Bloomberg. Based on what we're
Speaker 2: just saying, saying, what do you make of this, this
Speaker 2: dual mandate for this president to support union labor and
Speaker 2: the transition to EV's. Are they not arguing with each
Speaker 2: other now?
Speaker 10: And I think, you know, Joe Biden is the president
Speaker 10: to really show how they work together, because they're both
Speaker 10: incredibly important to him. And I think that one way
Speaker 10: to think about it is his vision for the EV
Speaker 10: future is a future where it doesn't come at the
Speaker 10: expense of workers, but that workers have a voice in
Speaker 10: how we make this transition. I think we've heard Sean Fain,
Speaker 10: president of UAW, say over and over again he doesn't
Speaker 10: want to stop the move to EV's, but he wants
Speaker 10: to make sure that his members have a say in
Speaker 10: how it comes about. And so I think, you know,
Speaker 10: President Biden just sort of he personifies the fact that
Speaker 10: workers have to win the EV future and they're only
Speaker 10: going to be able to do that if they've got
Speaker 10: a meaningful seat at the tape ball, and that's I
Speaker 10: think what the strike is A is a lot of
Speaker 10: what the strike is about.
Speaker 12: And of course, Professor, it was Biden that was there
Speaker 12: with the UAW today, tomorrow it's going to be former
Speaker 12: President Trump. And I'd like to call attention to something
Speaker 12: the former president posted on True Social earlier. This is
Speaker 12: the quote, the only thing Biden could say today that
Speaker 12: would help the striking autoworkers is to announce the immediate
Speaker 12: termination of his ridiculous ev mandate. Anything else is just
Speaker 12: a feeble and insulting attempt to distract American labor from
Speaker 12: this vicious Biden betrayal. What's your response to that?
Speaker 10: You know, I don't really want to respond directly to
Speaker 10: the former president. I don't even understand what that means.
Speaker 10: You know, UAW members live in this world, so they
Speaker 10: are also living with the impact of the climate crisis.
Speaker 10: So it's in everybody's interest for us to make progress
Speaker 10: in addressing the climate crisis. UAW members and the rest
Speaker 10: of us too. So I think the President key, I'd
Speaker 10: like to focus on what I think and and Biden
Speaker 10: wanted to accomplish by coming to Detroit today, by coming
Speaker 10: to the picket line, which is to signal with these
Speaker 10: workers that he sees the importance of their voice in
Speaker 10: this future. And even more importantly, Joe Biden was the
Speaker 10: pres in the White House part of the administration when
Speaker 10: the UAW made these incredible sacrifices to save the auto industry,
Speaker 10: and so it just makes sense that he's now standing
Speaker 10: with them and saying, you know what, they deserve to
Speaker 10: share in the success too. And there's such a through
Speaker 10: line for this president from those really difficult days at
Speaker 10: the beginning of the Obama administration to today with a
Speaker 10: thriving auto industry, and as the president who's done more
Speaker 10: to address the climate crisis than any other president. It's
Speaker 10: just he really does just stand at the intersection of
Speaker 10: these historical trends. I think he deserves great credit for
Speaker 10: coming to the picket line today and for continuing to
Speaker 10: press for this transition to inn ev future, but having
Speaker 10: it be a just transition.
Speaker 2: Why mandate that transition? Though Sharon as opposed to allowing
Speaker 2: the industry to move in that direction on its own,
Speaker 2: he's had partners in the leaders of the big three,
Speaker 2: and some would suggest that he's playing both sides of
Speaker 2: the fence here.
Speaker 10: Well, I mean, I think if you look at the
Speaker 10: legislation that's passed, the Inflation Reduction Act, we've got, he's
Speaker 10: provided a lot of incentives for these companies to make
Speaker 10: this transition. They're each going to do it in their all,
Speaker 10: in their own way. This is not a one size
Speaker 10: fits all transition. But we do have an incredibly urgent situation,
Speaker 10: as we've all lived through this summer. We need to
Speaker 10: address the climate crisis. And the President and worked with
Speaker 10: members of Congress who supported the Inflation Reduction Act to
Speaker 10: do it in a way that's achievable, that will accommodate
Speaker 10: the company's interests, and through the strike, I think we'll
Speaker 10: make sure that it accommodates the worker's interests too.
Speaker 12: You know, Professor, the ev issue isn't the only thing
Speaker 12: at play here in these issues. In these negotiations between
Speaker 12: the union and automakers, there's a number of things that
Speaker 12: they have raised, including just job security more generally, as
Speaker 12: you see the evolution of technology, not just in terms
Speaker 12: of if it's powered by an internal combustion engine or
Speaker 12: a battery, but just technology, technology evolving to the extent
Speaker 12: that workers who had jobs in the past may not
Speaker 12: be looking at those same jobs in the future. How
Speaker 12: do you guarantee security in existing jobs instead of focusing
Speaker 12: on retraining workers for new ones, for example. How should
Speaker 12: we be thinking about that balance?
Speaker 10: I mean, I think balance is the right word. I
Speaker 10: mean that is how uh you can tackle the future.
Speaker 10: We need a balance between helping workers who want to
Speaker 10: stay in the industry, who want to learn new skill sets,
Speaker 10: to continue to be evolving members of these companies and
Speaker 10: supporting them as they go forward. But there are also
Speaker 10: workers who have invested a tremendous amount of their lives
Speaker 10: in these companies, and so you need to balance that
Speaker 10: also with some basic level of security to sort of
Speaker 10: recognize that investment that workers have made in these companies.
Speaker 10: This is an industry. I think the collective bargaining relationships
Speaker 10: between the UAW and the auto companies go back like
Speaker 10: one hundred years. Think about all the technological changes that
Speaker 10: this industry has gone through over those hundred years, and
Speaker 10: they've figured out how to make it work through a
Speaker 10: very mature collective bargaining relationship. So I think we're going
Speaker 10: to see them figure it out time too.
Speaker 2: You wear a couple of different hats in this conversation,
Speaker 2: Sharon Block one of them, as I mentioned as a
Speaker 2: former member of the National Labor Relations Board. I wonder
Speaker 2: what you think of the distance on some of the
Speaker 2: other issues, particularly retirement. When the union is coming back around,
Speaker 2: we're trying to advance. We're talking about advancing into the
Speaker 2: future of electric vehicles, but they want to go back
Speaker 2: to an eighty style pension plan and that appears to
Speaker 2: be a deal breaker for the Big Three? Is that
Speaker 2: a bridge too far? If you're trying to get people
Speaker 2: to the table and make a deal, would you tell
Speaker 2: them to pull back on that request?
Speaker 10: Well, I would certainly never tell them what to put
Speaker 10: on the table or take off the table. These are
Speaker 10: very complicated collective bargaining relationships with a lot of moving pieces,
Speaker 10: and so it's really hard to isolate one particular proposal
Speaker 10: from all the others to figure out how it's going
Speaker 10: to play out. The union's going to have to figure
Speaker 10: out what's most important to it. The companies are going
Speaker 10: to have to figure out what's most important to them.
Speaker 10: No party comes to a collective bargaining situation expecting to
Speaker 10: get everything that they ask for. So I think you're
Speaker 10: going to see some give and take. You're going to
Speaker 10: see some proposals fall off the table or you know,
Speaker 10: be modified. But again, these are parties that know each
Speaker 10: other really well. They've got a long history. They have
Speaker 10: made historic decisions together in the past, and so I
Speaker 10: have confidence in their ability to negotiate through through this
Speaker 10: you know, historic time. But again, if you think about
Speaker 10: one hundred year collective bargaining relationship, you know they've got
Speaker 10: a good track record.
Speaker 12: Well, and this isn't the only example of collective bargaining
Speaker 12: and action that we are are viewing in real time
Speaker 12: at the moment. We of course all awoke to the
Speaker 12: news yesterday or Sunday evening that the Writers Guild find
Speaker 12: reached an agreement with Studios, at least a tentative one.
Speaker 12: At the heart of that issue was another technological advancement.
Speaker 12: It was about AI. How should we be thinking about
Speaker 12: AI and the American worker sharre.
Speaker 10: You know, I think it's a fascinating issue and I'm
Speaker 10: really looking forward to seeing more detail about how the
Speaker 10: WGA and the studios tackled that issue and got to
Speaker 10: an agreement. I think there are a lot of workers
Speaker 10: out there who, especially over the past few months over
Speaker 10: the summer, as we're seeing sort of all of these
Speaker 10: AI products accelerating and really evolving at a very rapid pace.
Speaker 10: I think a lot of people are sitting out there
Speaker 10: thinking how are their jobs going to be impacted by AI?
Speaker 10: I think including workers who've probably never really thought about
Speaker 10: themselves as vulnerable before. And so I think there's going
Speaker 10: to be a lot of interest and attention to how
Speaker 10: this issue was revolved was resolved within this collective bargaining relationship.
Speaker 10: But I think it's also really going to signal to
Speaker 10: a broader swath of the public the collective bargaining is
Speaker 10: a really important way of having a say in your
Speaker 10: own future. And I'll be really interested to see if
Speaker 10: there's an expansion an increase in interest in collective bargaining,
Speaker 10: because we're seeing in all these different sectors ways that
Speaker 10: in the collective bargaining relationship they're resolving really knotty problems
Speaker 10: about the future and technology.
Speaker 2: Sharon, I just saw a tweet, if I guess we
Speaker 2: don't call it that an X whatever from Elon Musk
Speaker 2: as we're talking here, and he says they want a
Speaker 2: forty percent pay raise in a thirty two hour work week.
Speaker 2: Referring to the UA doubd here sure way to drive
Speaker 2: GM forward and Chrysler bankrupt. He says, you know, some
Speaker 2: people think Elon Musk in this non union approach in
Speaker 2: a right to work state is the future, and that
Speaker 2: company's been doing pretty well. Where is he wrong?
Speaker 10: I think he's wrong in almost every respect. First of all,
Speaker 10: I think it's really inappropriate to question the loyalty of
Speaker 10: the UAW and its members to these companies, as if
Speaker 10: what they want is to drive these companies into bankruptcy again.
Speaker 10: It's not that long ago that the UAW members made
Speaker 10: these great sacrifices to save these companies. So to suggest
Speaker 10: that they're going to push for a contract again when
Speaker 10: you put all the different pieces of the contract together,
Speaker 10: that's going to bankrupt the companies is just wrong. It's
Speaker 10: wrong to suggest that, and there's no basis for it.
Speaker 10: So I would flip though this situation back on Elon
Speaker 10: Musk and say what's going to happen at tesla if
Speaker 10: and when there's a good agreement in this strike and
Speaker 10: his workers see that they can get a better deal
Speaker 10: if they dot collective bargaining reports.
Speaker 2: This is a great question. We've addressed this before, Kaylie.
Speaker 2: They may feel quite emboldened, certainly after what we saw
Speaker 2: at UPS.
Speaker 6: Yeah.
Speaker 12: Is there a contagion effect.
Speaker 2: Right, Sharon Block, many thanks for the insights with us
Speaker 2: here today on Bloomberg. Thanks for listening to the Sound
Speaker 2: On podcast. Make sure to subscribe if you haven't already,
Speaker 2: at Apple, Spotify, and anywhere else you get your podcasts,
Speaker 2: and you can find us live every weekday from Washington,
Speaker 2: DC at one pm Eastern Time at Bloomberg dot com.