Bernie's Feed
Sep 23, 2013

Chrysler files for IPO, forced by UAW trust

DETROIT (Reuters) – Chrysler Group LLC filed paperwork on Monday for an initial public offering of up to $100 million, an action that could slow majority owner Fiat SpA’s (FIA.MI: Quote, Profile, Research, Stock Buzz) plans to take full ownership of the U.S. automaker.

The offering will be underwritten by J.P. Morgan, the company said in a securities filing posted more than four years after the third-largest U.S. automaker emerged, under Fiat management, from a government-sponsored bankruptcy.

Sep 17, 2013

Tennessee plant in lead to build new VW crossover: U.S. VW executive

DETROIT (Reuters) – Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) is leaning toward building a seven-passenger crossover utility vehicle at its plant in Chattanooga, Tennessee, rather than at its facility in Puebla in Mexico, a U.S. executive of the German automaker said on Tuesday.

Marc Trahan, executive vice president for U.S. quality, said cost will be the primary factor in the final decision.

Sep 17, 2013

Tennessee plant in lead to build new VW crossover – U.S. VW exec

DETROIT, Sept 17 (Reuters) – Volkswagen AG is
leaning toward building a seven-passenger crossover utility
vehicle at its plant in Chattanooga, Tennessee, rather than at
its facility in Puebla in Mexico, a U.S. executive of the German
automaker said on Tuesday.

Marc Trahan, executive vice president for U.S. quality, said
cost will be the primary factor in the final decision.

Sep 12, 2013

Tennessee legislator believes governor offered VW deal to keep UAW out

DETROIT (Reuters) – A Tennessee state legislator is trying to prove that the governor promised Volkswagen AG additional incentives if the company kept the United Auto Workers union out of its two-year-old Chattanooga plant.

Rep. Mike Turner, head of the Democratic Caucus in the Tennessee House, has asked Gov. Bill Haslam’s office to turn over communication between the governor’s office and Volkswagen. Turner said Tennessee state law requires legislative approval to provide such incentives.

Sep 12, 2013

GM trots out new versions of its lucrative full-sized SUVs

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) on Thursday unveiled new versions of its Chevrolet and GMC full-size SUVs in an effort to maintain the company’s dominance in this lucrative segment of the U.S. auto industry.

GM’s Chevrolet Tahoe, Suburban and its GMC Yukon for the 2015 model year will hit U.S. dealers in the first quarter of 2014, company officials said.

Sep 10, 2013

US VW execs ‘forced’ by German boss to sign UAW letter -Sen Corker

DETROIT, Sept 10 (Reuters) – U.S. executives at Volkswagen
AG’s plant in Tennessee were “forced” by a German board member
to sign a letter disclosing the United Auto Workers’ efforts to
organize the factory, a move that created tension within the
company, U.S. Senator Bob Corker said on Tuesday.

VW executives said last week in a letter to employees at the
Chattanooga plant they are in talks with the UAW about the U.S.
union’s bid to represent workers at the factory using an
“innovative model,” which would be a milestone in the union’s
long-running effort to organize foreign-owned auto plants.

Sep 10, 2013

Detroit convict accused of stabbing deputy with comb arrested

DETROIT (Reuters) – A convict accused of stabbing a Detroit deputy sheriff several times in the neck with a plastic comb, stealing his uniform and vanishing from a courthouse was arrested late on Monday after a large-scale manhunt, authorities said.

Detroit police caught 25-year-old Abraham Pearson in a rundown area of the city’s east side, capping a 14-hour citywide search of rooftops, abandoned buildings and cemeteries.

Sep 9, 2013

Man stabs deputy sheriff with comb, escapes Detroit courthouse

DETROIT (Reuters) – A man due to be sentenced in a robbery case stabbed a deputy sheriff several times in the neck with a plastic comb and escaped from a holding area in a Detroit courthouse on Monday, authorities said.

Detroit Police Chief James Craig identified the suspect as Abraham Pearson, 25, who also goes by the alias Derreck White, and called him armed and extremely dangerous. Court electronic records show that Pearson, who drove off in a minivan after the stabbing, was due to be sentenced on Monday.

Sep 6, 2013

Ford board open to earlier exit for CEO Mulally: sources

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) Chief Executive Alan Mulally, credited with driving a culture change that helped save the No. 2 U.S. automaker, may step down sooner than planned, according to people with knowledge of the matter.

Under a succession plan outlined last November, Mulally, 68, was expected to stay on as CEO until at least the end of 2014. [ID:nL1E8M12K9] But Ford’s board of directors is now open to letting him step down earlier as he explores other roles, two people familiar with the board’s thinking said.

Sep 6, 2013

Volkswagen in talks with UAW on Tennessee plant workers

DETROIT (Reuters) – Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) is in talks with the United Auto Workers because worker representation at the plant can only be realized by working with a U.S. trade union, the German carmaker’s auto assembly plant manager in Chattanooga, Tennessee, said.

In a Thursday letter to the 2,500 Volkswagen workers in Chattanooga obtained by Reuters, Frank Fischer, chief executive officer at the plant, informed workers that the company has entered talks with the UAW.