logo
Investor group urges Ford to address claims of ‘union avoidance' at Kentucky battery plant

Investor group urges Ford to address claims of ‘union avoidance' at Kentucky battery plant

Yahoo07-05-2025
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience.
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience.
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways
Construction of the battery plant in Glendale in January 2023. (BlueOval SK photo)
A nonprofit faith-based group that seeks to leverage its investing to advance human rights, racial equity and 'the common good' is calling on automaker Ford to address claims of anti-union activities at the BlueOval SK battery plant in Kentucky.
The letter from Investor Advocates for Social Justice details the group's concerns over 'strong indications that BlueOval Kentucky is engaging in union avoidance activities,' ranging from disseminating 'anti-union flyers and media' to the United Auto Workers (UAW) telling the Washington Post that anti-union consultants have been brought in to persuade workers against unionization.
The UAW launched a campaign last year to unionize the BlueOval SK battery plant in Hardin County, and workers at the plant in January asked the National Labor Relations Board to hold a union election. The BlueOval SK battery plant, one of two planned at Glendale to produce batteries for electric vehicles, is jointly owned by Ford and South Korean company SK Group.
The investor group is urging Ford to address the concerns in an annual shareholder meeting Thursday.
'Companies have an obligation to respect human rights, including freedom of association and collective bargaining, and to extend this obligation to their business relationships, which include joint ventures,' the investor group wrote in part. 'Failure to uphold these rights can expose investors to material risks, including operational, reputational, regulatory, legal, and financial risks.'
The letter also noted concerns brought by a community group in Tennessee over a BlueOval SK electric vehicle and battery plant there urging Ford to sign an agreement ensuring the operation doesn't harm the community environmentally or socioeconomically.
The letter comes after the New Jersey-based Sisters of St. Joseph of Peace, one of the members of the investor group, tried to offer a proposal to be voted on at Ford's shareholder meeting that would have requested the company's board of directors adopt a 'noninterference' policy for when workers seek to unionize at joint venture plants. The U.S. Securities and Exchange Commission granted Ford's request to block the proposal from being voted on ahead of the meeting.
Susan Francois, assistant congregation leader and treasurer of the Sisters of St. Joseph of Peace, in a statement said their Catholic community believes 'it is both good business and the right thing to do to call on companies like Ford to respect human rights.'
'We urge Ford to effectively and expeditiously address these issues, which are not going away just because the shareholders have been prevented from voting on it,' Francois said. 'God expects the economy to support life and the livelihood of all, not the few.'
A news release about the investors letters notes that taxpayers have spent billions supporting Ford's joint venture. The federal government announced $9.63 billion in loans in December to the three BlueOveral SK battery plants. Tennessee approved $900 million in incentives while Kentucky is providing $250 million in public subsidies.
Emails sent Wednesday afternoon to Ford and BlueOval SK requesting comment on the letter were not immediately returned.
SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Apollo Micro Systems emerges as lowest bidder for defence orders worth Rs 25.12 crore
Apollo Micro Systems emerges as lowest bidder for defence orders worth Rs 25.12 crore

Business Upturn

time12 minutes ago

  • Business Upturn

Apollo Micro Systems emerges as lowest bidder for defence orders worth Rs 25.12 crore

By Aditya Bhagchandani Published on August 21, 2025, 14:27 IST Shares of Apollo Micro Systems Ltd. (AMS) were in focus on Thursday after the company announced that it has emerged as the lowest bidder (L-1) for defence-related orders worth ₹25.12 crore. The Hyderabad-based technology and defence solutions provider said the bids were placed with the Defence Research and Development Organisation (DRDO) and other defence public sector undertakings (PSUs). The company clarified in its filing that this order is part of the ordinary course of business, as AMS routinely participates in government and PSU tenders. However, the development has drawn attention as it adds fresh momentum to the company's growing order book and reinforces its positioning in India's expanding defence ecosystem. Meanwhile, shares of Apollo Micro Systems were trading 2.2% higher at ₹207.31 on the NSE, up from the previous close of ₹202.83. The stock has traded between ₹200.55 and ₹211.00 so far today, with a market cap of about ₹69,140 crore. The counter has been active, with trading volumes above 4.6 million shares by mid-session. Founded in 1997, Apollo Micro Systems specialises in designing, developing, and manufacturing electronic and electro-mechanical systems used across defence, aerospace, railways, and homeland security. The government's strong push for Atmanirbhar Bharat (self-reliance) in defence manufacturing has created new opportunities for companies like AMS, which have been steadily expanding capabilities in indigenous technologies. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

Palantir sinks lower, chip stocks fall, Trump admin & chipmakers
Palantir sinks lower, chip stocks fall, Trump admin & chipmakers

Yahoo

time18 minutes ago

  • Yahoo

Palantir sinks lower, chip stocks fall, Trump admin & chipmakers

Julie Hyman examines some of the top stories of the day on Yahoo Finance's Market Minute. Palantir (PLTR) stock extends recent losses. The stock, which is the S&P 500's (^GSPC) worst performer this week, is on track to record its sixth day in the red. Chip stocks, including Nvidia (NVDA), AMD (AMD), and Broadcom (AVGO), are also under pressure amid a continued tech sell-off. The Trump administration is reportedly weighing taking an equity stake in Intel (INTC) and other chipmakers, according to reporting from Reuters Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo! Finance's Market Minute. Stocks are sliding as tech sees its second day of big declines. Investors selling out of those stocks that led gains to start the year. Palantir taking the brunt of the beating in tech, heading for its sixth consecutive day of losses. Palantir is the worst performing stock in the S&P 500 this week, down nearly 20% in the last five days. It still leads the S&P 500 this year. And chip stocks are also getting hit. Nvidia, AMD, Broadcom, they're all down around 2% or more as investors take profits from those AI players. Elsewhere in the chip space, the Trump administration is considering taking a stake in any company that receives CHIPS Act funding, not just Intel. That's according to a Reuters report. The move could affect the likes of Micron, Taiwan Semiconductor, and Samsung. The US finalized subsidies of $4 billion for Samsung, about $6 billion apiece for Micron and TSMC just last year. And that's your Yahoo! Finance Market Minute. Scan the QR code below to track the best and worst performing stocks. Related Videos Mag 7 Firms May Report Positive Earnings Surprises: HSBC Gower: Further Upside in Gold Driven by Falling USD Walmart earnings, housing data, Fed & Jackson Hole: What to Watch Retail earnings: Consumers are spending on needs, not wants Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store