Auto workers are standing firm on their contract demands with Big Three automakers Ford (F), General Motors (GM), and Stellantis (STLA) ahead of the quickly approaching midnight deadline. Yahoo Finance Live is joined by Former Chrysler CEO Bob Nardelli to discuss the far-reaching economic impacts a strike organized by the United Auto Workers (UAW) union could have on American consumers and the auto industry.
"You never make up the wages that you lost, you never make up the customers that you may have lost, and the impact could be devastating," Nardelli says, also taking into account the role similar labor strikes could have amid inflation: "Given that we're dealing with this inflationary period, but this just continues to inflate inflation."
