Among the sticking points highlighted by United Auto Workers on strike are the billions of dollars Detroit’s legacy carmakers have plunged into stock repurchases.
Now, as the strike extends into its second week, some investors say they’re willing to forgo those coveted share buybacks as the companies face soaring labor costs over the next several years. The UAW is asking General Motors Co., Stellantis NV and Ford Motor Co. for significant pay raises and other concessions in their next four-year contract.