Bernie's Feed
Oct 1, 2013

Ford, Chrysler increase U.S. sales in September

DETROIT (Reuters) – Chrysler Group LLC Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) beat analysts’ expectations on Tuesday by posting their best September U.S. sales increases in six and seven years, respectively.

Ford’s sales rose 5.8 percent to 185,146. Chrysler, an affiliate of Italy’s Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz), said its sales were up 1 percent at 143,017.

Sep 26, 2013

U.S. union efforts at VW plant may face hurdle after eight workers say misled

DETROIT (Reuters) – Eight employees at Volkswagen AG’s Tennessee plant have said they were misled into endorsing the United Auto Workers, handing some ammunition to opponents of the union’s efforts to organize for the first time at a foreign-owned U.S. factory.

The UAW has countered that the complaints, which were filed with the National Labor Relations Board, are a “frivolous and baseless” attempt to delay negotiations between the union and Volkswagen.

Sep 26, 2013

US union efforts at VW plant may face hurdle after 8 workers say misled

DETROIT, Sept 25 (Reuters) – Eight employees at Volkswagen
AG’s Tennessee plant have said they were misled into endorsing
the United Auto Workers, handing some ammunition to opponents of
the union’s efforts to organize for the first time at a
foreign-owned U.S. factory.

The UAW has countered that the complaints, which were filed
with the National Labor Relations Board, are a “frivolous and
baseless” attempt to delay negotiations between the union and
Volkswagen.

Sep 25, 2013

Analysis: UAW sees VW’s German union model as best hope in South

DETROIT (Reuters) – If the United Auto Workers is successful in organizing Volkswagen AG’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) plant in Tennessee, it will owe a lot to the unique relationship the automaker has with labor in Germany.

The powerful IG Metall union that represents Volkswagen’s German workers is six times the size of the UAW, with 2.26 million members. IG Metall’s outsized influence – labor representatives hold half the 20 seats on VW’s supervisory board – could give the UAW its best chance yet to organize autoworkers at a foreign-owned plant in the South.

Sep 24, 2013

Fiat rethinks alliance with Chrysler after IPO filing

DETROIT, Sept 23 (Reuters) – Chrysler Group LLC was forced
to file paperwork for an IPO by its second-biggest shareholder
on Monday, escalating a spat with main owner Fiat SpA
which said it could scale back its commitment to the U.S.
automaker.

Fiat, which owns 58.5 percent of Chrysler, wants to take
full control and buy out the rest of the stock owned by the
United Auto Workers trust fund, but has balked at the more $5
billion being demanded.

Sep 24, 2013

Chrysler files IPO as automaker’s value in dispute

DETROIT (Reuters) – Chrysler Group LLC filed paperwork on Monday for an initial public offering, a move that could delay Fiat SpA’s (FIA.MI: Quote, Profile, Research, Stock Buzz) efforts to take full ownership of the U.S. automaker while enhancing the value of the stake held by a union trust fund.

The IPO of up to $100 million comes over the strenuous objections of Chief Executive Sergio Marchionne, who wants to merge Fiat and Chrysler and make the world’s seventh-largest automaker, Chrysler said in a securities filing.

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.