Bernie's Feed
Oct 3, 2014

UAW forms new local for Daimler Alabama workers

Oct 3 (Reuters) – The United Auto Workers on Friday
announced the formation of UAW Local 112 for hourly workers at
Daimler AG’s Mercedes-Benz plant in Alabama, and
confirmed it will work with two German labor groups to organize
the plant.

“What happens here is important to the future of the labor
movement,” said UAW president Dennis Williams, who swore in the
initial members of the union local during a press conference at
a hotel in Tuscaloosa, Alabama, near the Mercedes-Benz plant.

Oct 2, 2014

UAW, German labor to announce Daimler Alabama drive -sources

DETROIT, Oct 2 (Reuters) – The United Auto Workers and two
German labor groups will announce on Friday plans to work
together to organize Daimler AG’s Mercedes-Benz plant
workers in Alabama, sources close to one of the German labor
groups said on Thursday.

The move would be similar fashion to efforts by the UAW and
German labor to organize the Volkswagen AG plant in
Tennessee.

Oct 1, 2014

September U.S. car sales show industry still strong

DETROIT (Reuters) – U.S. consumers bought more cars in September than in the previous year, but early sales results from leading automakers on Wednesday were mixed.

General Motors Co, Fiat SpA’s Chrysler Group and Nissan Motor Co all reported year-to-year sales gains, but Ford Motor Co said sales fell slightly from a year ago.

Oct 1, 2014

Chrysler reports U.S. auto sales jump 19 percent

DETROIT, Oct 1 (Reuters) – Chrysler Group LLC on Wednesday
reported its third straight month of double-digit gains in the
U.S. market, selling 19 percent more vehicles in September than
a year ago, an indication that industry strength continued as
summer waned.

A Reuters survey of nine industry analysts showed
expectations of a 10 percent rise to about 1.25 million vehicles
sold in September industrywide.

Sep 29, 2014

Ford shares tumble on lower profit outlook for 2014-2015

DEARBORN (Reuters) – Higher recall costs in North America and steeper losses in Russia and South America have caused Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) to slash its forecast for pretax profit this year to $6 billion, from $7 billion to $8 billion previously, executives told investors at a briefing on Monday.

Bob Shanks, Ford’s chief financial officer, also said the company’s 2015 pretax profit is now expected to rise to between $8.5 billion and $9.5 billion, versus analysts’ estimates of $10.6 billion.

Sep 29, 2014

Connected cars: Is AT&T leaving Verizon in its rear-view mirror?

WASHINGTON/DETROIT (Reuters) – Verizon Communications, the No.1 U.S. wireless carrier known for its widespread coverage, is falling behind its biggest rival in what many are betting will be the next big thing in the wireless industry: connected cars.

The reason? Simply put, the type of network Verizon uses isn’t global.

The $1.7 trillion wireless industry has just about reached capacity for growth, and mobile companies are turning to connected devices for future revenue. Connected cars, which hook up with a wireless network, currently allow you to do everything from turning an auto into a Wifi link for other devices, to honking its horn from anywhere in the world. The cars are also able to update software remotely.

Sep 29, 2014

UAW, two German labor groups link to organize VW in Tennessee

DETROIT (Reuters) – The United Auto Workers union and two top German labor groups have signed a letter of intent to jointly organize the Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) assembly plant in Chattanooga, Tennessee, a top UAW official said on Monday.

The latest move may be a step toward the UAW gaining bargaining rights to represent the hourly workers at VW’s only U.S. plant, according to the letter, a copy of which was obtained by Reuters. Workers at the Tennessee plant voted against UAW representation earlier this year, as the union drew stiff opposition from the National Right to Work group.

Sep 26, 2014

Fiat CEO endorses Italy PM Renzi’s reform efforts

, Sept 26 (Reuters) – Fiat Chrysler
CEO Sergio Marchionne said on Thursday Italian Prime
Minister Matteo Renzi must ignore critics and push ahead with
plans to reform the country’s economy.

Marchionne’s support contrasts with signs of growing
disillusionment among other Italian business leaders in recent
weeks, and comes at a crucial moment for Renzi as he prepares to
outline disputed plans to overhaul labour laws on Monday.

Sep 26, 2014

Chrysler CEO: Ontario minivan plant to shut for 12 weeks in Q1-Q2 2015

, Sept 26 (Reuters) – Chrysler Group LLC
Chief Executive Officer Sergio Marchionne said on Friday that
the automaker’s Windsor, Ontario minivan plant will be shut for
12 weeks of upgrades in the first and second quarters of 2015
ahead of its production of the company’s next-generation
minivan.

The work would “bridge between the first and second quarter”
of 2015, Marchionne said. He added that the company must make
detailed plans to ensure that it can continue to build the
current minivan until the shutdown.

Sep 24, 2014

U.S. Treasury denies allowing ‘excessive’ executive pay at GM, Ally

DETROIT (Reuters) – The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect “excessive pay” while those companies were part of a taxpayer-funded government loan program, a special inspector general reported on Wednesday.

The Treasury responded that the report contained “many inaccuracies and omissions,” saying the department balanced limits on executive compensation “with allowing companies to repay taxpayer assistance.”