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*Hollywood could face another strike as large union lays down demands*

After suffering a major blow to its film and TV production in 2023, Hollywood may have another challenge on its hands. The American Federation of Musicians, a union that is made up of 70,000 musicians across the United States and Canada, is following in the footsteps of its unionized colleagues in Hollywood that conducted the successful actors’ and writers’ strikes last year. AFM is threatening to march to the picket lines for a new contract that meets its demands for improved wages, health care, streaming residuals, artificial intelligence protections and an end to yellow-dog contracts, which is where employees agree to not join a union.Related: Senate bill cracks down on AI replicas in important U.S. industry “Now it’s our turn to negotiate a fair and sustainable contract for our members – just like our fellow unions WGA and SAG-AFTRA did,” said AFM in a press release. The union began negotiating its new contract on Jan. 22 with the Alliance of Motion Picture and Television Producers, which is a trade association that represents the interests of major producers in film and television. AFM claims that musicians that perform on soundtracks “are making 75% less on content premiering on streaming platforms,” and that it has caused for musicians to receive less residual income which members claim is “threatening our livelihoods.” While recently speaking to CNN about the union's contract negotiations, AFM President Tino Gagliardi said that the union is "prepared to do whatever it needs" to "make the lives of musicians better.” A strike from the AFM could have a major impact on Hollywood as the members that make up the union record, prepare and perform music across film, TV, radio, commercials, streaming, etc. Actor Fran Drescher, president of SAG-AFTRA, left, and Duncan Crabtree-Ireland, national executive director and chief negotiator of SAG-AFTRA, during a news conference in Los Angeles on Nov. 10, 2023. Bloomberg/Getty Images Last spring, the Writers Guild of America went on strike in May, and SAG-AFTRA, an actors union, soon followed and started its strike two months later. Both unions’ top concerns were also streaming and the effect it had on residuals. The WGA strike ended in September, and SAG-AFTRA’s strike ended in November as both unions were able to work out tentative contracts, respectively, with the AMPTP. The strikes caused Hollywood to pause several film and TV productions, and California’s economy reportedly faced a $6 billion loss. AFM’s call for stronger AI protections to be included in its new contract comes at a time where the music industry has been battling the rise of AI and the negative impact it can have on music artists whose voices and music can easily be mimicked by the technology. Record label Universal Music Group, which represents artists like Taylor Swift, Drake and Adele, has been leading the fight to regulate AI in the music industry. In April last year, it told CNN that the record label has “a moral and commercial responsibility” to its artists “to work to prevent the unauthorized use of their music and to stop platforms from ingesting content that violates the rights of artists and other creators.”Related: Veteran fund manager picks favorite stocks for 2024
[Read more...](https://www.thestreet.com/employment/hollywood-could-face-another-strike-as-large-union-negotiates-contract)
Hollywood could face another strike as large union lays down demands

After suffering a major blow to its film and TV production in 2023, Hollywood may have another challenge on its hands. The American Federation of Musicians, a union that is made up of 70,000 musicians across the United States and Canada, is following in the footsteps of its unionized colleagues in Hollywood that conducted the successful actors’ and writers’ strikes last year. AFM is threatening to march to the picket lines for a new contract that meets its demands for improved wages, health care, streaming residuals, artificial intelligence protections and an end to yellow-dog contracts, which is where employees agree to not join a union.Related: Senate bill cracks down on AI replicas in important U.S. industry “Now it’s our turn to negotiate a fair and sustainable contract for our members – just like our fellow unions WGA and SAG-AFTRA did,” said AFM in a press release. The union began negotiating its new contract on Jan. 22 with the Alliance of Motion Picture and Television Producers, which is a trade association that represents the interests of major producers in film and television. AFM claims that musicians that perform on soundtracks “are making 75% less on content premiering on streaming platforms,” and that it has caused for musicians to receive less residual income which members claim is “threatening our livelihoods.” While recently speaking to CNN about the union's contract negotiations, AFM President Tino Gagliardi said that the union is "prepared to do whatever it needs" to "make the lives of musicians better.” A strike from the AFM could have a major impact on Hollywood as the members that make up the union record, prepare and perform music across film, TV, radio, commercials, streaming, etc. Actor Fran Drescher, president of SAG-AFTRA, left, and Duncan Crabtree-Ireland, national executive director and chief negotiator of SAG-AFTRA, during a news conference in Los Angeles on Nov. 10, 2023. Bloomberg/Getty Images Last spring, the Writers Guild of America went on strike in May, and SAG-AFTRA, an actors union, soon followed and started its strike two months later. Both unions’ top concerns were also streaming and the effect it had on residuals. The WGA strike ended in September, and SAG-AFTRA’s strike ended in November as both unions were able to work out tentative contracts, respectively, with the AMPTP. The strikes caused Hollywood to pause several film and TV productions, and California’s economy reportedly faced a $6 billion loss. AFM’s call for stronger AI protections to be included in its new contract comes at a time where the music industry has been battling the rise of AI and the negative impact it can have on music artists whose voices and music can easily be mimicked by the technology. Record label Universal Music Group, which represents artists like Taylor Swift, Drake and Adele, has been leading the fight to regulate AI in the music industry. In April last year, it told CNN that the record label has “a moral and commercial responsibility” to its artists “to work to prevent the unauthorized use of their music and to stop platforms from ingesting content that violates the rights of artists and other creators.”Related: Veteran fund manager picks favorite stocks for 2024
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*Ford CEO says he's proud to offer a car that other Big Three rivals gave up on*

As the automotive industry slowly transitions to zero-emissions motoring, Ford (F) - Get Free Report CEO Jim Farley has something to brag about when it comes to the automaker he oversees.Related: Ford reveals some bad news about its electric vehicles In a statement during Ford Racing's launch event for the 2024 racing season on Jan. 17, the boss of the Blue Oval noted that 2024 marks an important milestone of one of its most iconic models. A Ford Mustang Dark Horse sports car is on display during the Auto Guangzhou 2023 in Guangzhou, China. VCG/Getty Images "Mustang is going to celebrate its 60th anniversary coming up here," Farley said. "A lot of our competitors have left. They’ve come and gone. We never did that. We’ve always been there with Mustang." Introduced at the New York World's Fair in April 1964, the iconic Ford Mustang has been the blue oval's marquee product that has captured the hearts and minds of car enthusiasts. The pony car spawned noble competitors like General Motors' (GM) - Get Free Report Chevrolet Camaro and Stellantis' (STLA) - Get Free Report Dodge Challenger, but have exited the market unlike the Mustang. Today, the Mustang lives on as a sports car with a wide model range for nearly everyone, including enthusiasts seeking supercar-level performance and speed. Currently, the hottest of the bunch on offer is a $300,000 "GTD" version inspired by the GT3 cars, but Farley insists that the variety is key to its current and future success. The new Ford Mustang GTD is revealed at the 2023 North American International Detroit Auto Show in Detroit. Bill Pugliano/Getty Images "Sixty years, and it’s changed over time. We have EcoBoost, we have the Dark Horse now, and we’re going to continue to invest. And if we’re the only one on the planet making a V8 affordable sports car for everyone in the world, so be it." Though a V8 gas-guzzling muscle car is less than ideal for today's zero-emissions focused auto industry, Farley credited his company's Mustang Mach-E as one of the reasons why the Mustang can live on in its current form, noting that its existence lets Ford "sell ICE vehicles for a long time to come." The #64 Ford Multimatic Motorsports Ford Mustang GT3 of Harry Tincknell, Mike Rockenfeller, and Christopher Mies during the Roar Before The Rolex 24 at Daytona International Speedway. Icon Sportswire/Getty Images As the Ford CEO kicked off another racing season, he bragged that his Mustangs will see the racetracks of "six different continents on any given weekend" this year, from NASCAR in the states to Australian Supercars and the World Endurance Championship. "That’s because we have a V8 engine," Farley said. More Automotive:Hyundai and Kia's groundbreaking new tech is straight out of James BondWhy Mazda is going slow into electric vehiclesJeep parent blames California for an unfortunate situationRelated: Veteran fund manager picks favorite stocks for 2024
[Read more...](https://www.thestreet.com/automotive/ford-ceo-says-hes-proud-to-offer-a-car-that-other-big-three-rivals-gave-up-on-)
Ford CEO says he's proud to offer a car that other Big Three rivals gave up on

As the automotive industry slowly transitions to zero-emissions motoring, Ford (F) - Get Free Report CEO Jim Farley has something to brag about when it comes to the automaker he oversees.Related: Ford reveals some bad news about its electric vehicles In a statement during Ford Racing's launch event for the 2024 racing season on Jan. 17, the boss of the Blue Oval noted that 2024 marks an important milestone of one of its most iconic models. A Ford Mustang Dark Horse sports car is on display during the Auto Guangzhou 2023 in Guangzhou, China. VCG/Getty Images "Mustang is going to celebrate its 60th anniversary coming up here," Farley said. "A lot of our competitors have left. They’ve come and gone. We never did that. We’ve always been there with Mustang." Introduced at the New York World's Fair in April 1964, the iconic Ford Mustang has been the blue oval's marquee product that has captured the hearts and minds of car enthusiasts. The pony car spawned noble competitors like General Motors' (GM) - Get Free Report Chevrolet Camaro and Stellantis' (STLA) - Get Free Report Dodge Challenger, but have exited the market unlike the Mustang. Today, the Mustang lives on as a sports car with a wide model range for nearly everyone, including enthusiasts seeking supercar-level performance and speed. Currently, the hottest of the bunch on offer is a $300,000 "GTD" version inspired by the GT3 cars, but Farley insists that the variety is key to its current and future success. The new Ford Mustang GTD is revealed at the 2023 North American International Detroit Auto Show in Detroit. Bill Pugliano/Getty Images "Sixty years, and it’s changed over time. We have EcoBoost, we have the Dark Horse now, and we’re going to continue to invest. And if we’re the only one on the planet making a V8 affordable sports car for everyone in the world, so be it." Though a V8 gas-guzzling muscle car is less than ideal for today's zero-emissions focused auto industry, Farley credited his company's Mustang Mach-E as one of the reasons why the Mustang can live on in its current form, noting that its existence lets Ford "sell ICE vehicles for a long time to come." The #64 Ford Multimatic Motorsports Ford Mustang GT3 of Harry Tincknell, Mike Rockenfeller, and Christopher Mies during the Roar Before The Rolex 24 at Daytona International Speedway. Icon Sportswire/Getty Images As the Ford CEO kicked off another racing season, he bragged that his Mustangs will see the racetracks of "six different continents on any given weekend" this year, from NASCAR in the states to Australian Supercars and the World Endurance Championship. "That’s because we have a V8 engine," Farley said. More Automotive:Hyundai and Kia's groundbreaking new tech is straight out of James BondWhy Mazda is going slow into electric vehiclesJeep parent blames California for an unfortunate situationRelated: Veteran fund manager picks favorite stocks for 2024
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