I am not expert enough to weigh in completely on the current UAW strike against the Big 3. However I would note that the automobile companies are arguing that they need the high profits they are now earning to fund their development of electric vehicles. On the surface this makes sense, but given that General Motors' current $5 billion share buyback program does not make sense. That money should be going into electric vehicle development.
In another era, way back in 1954, General Motors sold $350 million dollars in new stock to fund the development and the production of new vehicles. Thus, if GM were really serious about electric vehicles it would be selling stock, not buying back their stock from existing shareholders.
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