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Striking GM workers at a powertrain plant in Bedford, Ind. Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

The United Auto Workers (UAW) strike against GM is now 24 days old, with the UAW's chief bargainer telling members Tuesday evening that job security remains a key sticking point.

Why it matters: The economic damage is spreading. In addition to the 49,000 striking workers, another 100,000 non-UAW employees at GM and its suppliers are out of work because there's nothing for them to do, according to Anderson Economic Group.

  • GM has lost an estimated $660 million in profits, AEG says, while state and local governments have lost an estimated $164 million in tax revenue.

Between the lines: In a message to rank-and-file members, UAW vice president Terry Dittes said bargainers have made no progress on the key issue of job security.

  • "We have made it clear that there is no job security for us when GM products are made in other countries for the purpose of selling them here in the U.S.A. We believe that the vehicles GM sells here should be built here."
  • "GM in recent months has defended its track record of U.S. plant investment and job creation, saying it has poured $23 billion into its American factories over the past decade,"the Wall Street Journal reported.
  • The UAW is also pressing GM to lock in more guaranteed wage increases during the next 4-year contact, while GM prefers lump-sum bonuses that don’t raise their long-term labor costs, per WSJ.

Go deeper... Buckle up: GM, Michigan and 2020

Go deeper

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

9 mins ago - Health
Axios Investigates

Documents reveal the secrecy of America's drug pricing matrix

Illustration: Aïda Amer/Axios

American businesses spend hundreds of billions of dollars a year on prescription drugs, and the bills keep getting bigger. But some of the companies promising to help rein in those costs prevent employers from looking under the hood.

Why it matters: Documents provided to Axios reveal a new layer of secrecy within the maze of American drug pricing — one in which firms that manage drug coverage for hundreds of employers, representing millions of workers, obscure the details of their work and make it difficult to figure out whether they're actually providing a good deal.

Right wing builds its own echo chamber

Expand chart
Data: Apptopia; Table: Axios Visuals

Conservatives are aggressively building their own apps, phones, cryptocurrencies and publishing houses in an attempt to circumvent what they see as an increasingly liberal internet and media ecosystem.

Why it matters: Many of these efforts couldn't exist without the backing of major corporate figures and billionaires who are eager to push back against things like "censorship" and "cancel culture."