unions
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Labor has taken a lot of the blame for the current state of the U.S. auto industry, and to a degree, rightfully so. But without the labor, no cars can be built, so General Motors has been hard at work on a new contract with the UAW, which has finally been approved by 74% of union locals. Today GM announced that the new deal would close the competitive gap the company faces against non-labor car manufacturers in the United States - essentially all of the foreign car companies. The core elements of the plan that will help to reduce the per-unit labor cost are re-worked benefits and retirement...
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Report: UAW agrees to 17.5% stake in restructured GM, bondholders reject tender offerIn a hugely positive step for General Motors, the carmaker, together with the U.S. Treasury and United Auto Workers (UAW), reached a tentative bargain on how they'll deal with changes to the current agreement in the face of the industry's problems and GM's increasingly probably bankruptcy. The...
Ralph Hanson -
GM and UAW reach tentative deal
The U.S. Treasury, General Motors and the United Auto Workers have reached a tentative bargain on how they'll deal with changes to the current agreement in the face of the industry's problems and GM's increasingly probably bankruptcy. The details of the deal are being kept quiet until the local...
Ralph Hanson -
Chrysler and UAW reach agreement, bankruptcy still likely
It’s official. Chrysler and the UAW have come to an agreement, with members of the nationwide union group ratifying an earlier proposed agreement by a strong majority. According to UAW president Ron Gettelfinger, the union realizes that the contract concessions that have just been ratified...
Ralph Hanson -
Chrysler and UAW reach agreement
It’s official. Chrysler and the UAW have come to an agreement, with members of the nationwide union group ratifying an earlier proposed agreement by a strong majority. According to UAW president Ron Gettelfinger, the union realizes that the contract concessions that have just been ratified...
Ralph Hanson -
Report: UAW will get 55% stake in Chrysler
In a hugely positive step for Chrysler, the carmaker announced on Monday that it had reached a deal with the Canadian Auto Workers (CAW) union, while also agreeing to revised labor terms with the United Auto Workers (UAW) union. With just a few days left before the April 30 deadline for...
Nelson Ireson -
Ford is projecting the strongest image of the Detroit 3 at the moment due to its refusal to seek government loans, but it says the deal General Motors and the CAW reached won't be good enough to keep Ford competitive in Canada. GM, on the other hand, seems pleased with its deal, and has announced it won't be needing $2 billion in funds it requested earlier this year. Chrysler is also not happy with the terms of GM's CAW bargain, going so far as to talk of ceasing all Canadian operations if it can't get a better deal with the union. Ford's group VP for labor affairs, Joe Hinrichs, said, "We...
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Ford and UAW deal could save $500 million annually
Taking care of its retirees is one of the things the American auto industry prides itself on, and for good reason. But it's also one of the things that are making it hard to compete with foreign carmakers - the expenses are getting out of control. To help keep both Ford and the UAW operating in the...
Ralph Hanson -
UK auto aid approved by EU, now accepting bids for share of £2.3 billion
The weak economy knows no borders, rampaging across the globe taking its toll in lost jobs and bankruptcies. The car industry in particular is no stranger to this strife, and some might say Great Britain's carmakers most of all, considering their rocky history. In late January UK Business Secretary...
Nelson Ireson
