Bernie's Feed
Mar 24, 2013

Detroit’s new czar faces deep decay of city’s neighborhoods

DETROIT (Reuters) – When the state-imposed manager of Detroit, Kevyn Orr, starts the job on Monday he will wade into a city of crumbling neighborhoods where police fail to respond to some calls, arson fires burn out of control and residents scour charred buildings for scrap metal to sell.

Except for the business district and a cultural area including a university, museum and some theaters, the city of Detroit, population 700,000, is in bad shape.

Mar 20, 2013

Exclusive: German union chief to VW Tennessee workers – Join UAW

DETROIT (Reuters) – The United Auto Workers has won the backing of the head of an influential German union in its effort to represent the hourly workers at Volkswagen AG’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) Chattanooga, Tennessee, assembly plant.

“In Chattanooga, you need union representation” to negotiate working conditions, IG Metall President Berthold Huber said in a letter distributed in early March to the plant’s 2,350 hourly employees. A copy of the letter was obtained by Reuters.

Mar 18, 2013

UAW nears breakthrough in VW organizing push

DETROIT, March 18 (Reuters) – The United Auto Workers union
could soon get a big boost in its efforts to represent hourly
workers at Volkswagen AG’s assembly plant in
Chattanooga, Tennessee.

Horst Neumann, VW’s board member in charge of human
resources, told reporters on Friday that the automaker was in
talks with the UAW about setting up a German-style labor board
at the Tennessee plant. It was an about-face for a company that
has resisted opening the U.S. plant to the UAW.

Mar 11, 2013

Ex-Detroit mayor convicted of widespread corruption

DETROIT, March 11 (Reuters) – Former Detroit Mayor Kwame
Kilpatrick, once seen as a rising star in Democratic Party
politics, was convicted on Monday on two dozen federal charges
of corruption and bribery during his seven-year tenure.

U.S. prosecutors accused Kilpatrick, 42, of widespread
corruption, extorting bribes from contractors who wanted to get
or keep city contracts, and turning the mayor’s office into
“Kilpatrick Incorporated” from 2001 until he resigned in 2008.

Mar 6, 2013

Johnson Controls explores auto electronics unit sale

NEW YORK, March 6 (Reuters) – Johnson Controls Inc
is exploring a potential sale of its automotive electronics
business, but has no “current intention” to sell its automotive
interiors unit, the company said on Wednesday.

Johnson Controls, the largest U.S. auto supplier with sales
of $5.5 billion in car interiors and electronics for fiscal
2012, has grappled with industry-wide pressure on margins, low
vehicle production in Europe and increased competition from
China.

Mar 6, 2013

Exclusive – Johnson Controls explores auto interiors unit sale: sources

NEW YORK/DETROIT (Reuters) – Johnson Controls Inc (JCI.N: Quote, Profile, Research) is exploring a potential sale of its automotive interiors unit, a move that would allow the diversified manufacturer to focus on higher-margin building controls and next-generation car batteries, three people familiar with the matter said on Wednesday.

Shares of Johnson Controls were up about 6 percent to $33.74 (22.44 pounds) on the New York Stock Exchange, valuing the diversified conglomerate at around $23 billion (15 billion pounds).

Mar 6, 2013

Johnson Controls explores auto interiors unit sale-sources

NEW YORK/DETROIT, March 6 (Reuters) – Johnson Controls Inc
is exploring a potential sale of its automotive
interiors unit, a move that would allow the diversified
manufacturer to focus on higher-margin building controls and
next-generation car batteries, three people familiar with the
matter said on Wednesday.

Shares of Johnson Controls were up about 6 percent to $33.74
on the New York Stock Exchange, valuing the diversified
conglomerate at around $23 billion.

Mar 6, 2013

Exclusive: Johnson Controls explores auto unit sale – sources

NEW YORK (Reuters) – Johnson Controls Inc (JCI.N: Quote, Profile, Research, Stock Buzz) is exploring a potential sale of its automotive interiors unit, a move that would allow the diversified manufacturer to focus on higher-margin building controls and next-generation car batteries, three people familiar with the matter said on Wednesday.

Shares of Johnson Controls rose 6.7 percent to $33.95 on the New York Stock Exchange, valuing the diversified conglomerate at nearly $23 billion.

Mar 6, 2013

Johnson Controls explores auto unit sale-sources

NEW YORK, March 6 (Reuters) – Johnson Controls Inc
is exploring a potential sale of its automotive interiors unit,
a move that would allow the diversified manufacturer to focus on
higher-margin building controls and next-generation car
batteries, three people familiar with the matter said on
Wednesday.

Shares of Johnson Controls rose 6.7 percent to $33.95 on the
New York Stock Exchange, valuing the diversified conglomerate at
nearly $23 billion.

Mar 5, 2013

UAW’s King juggles diversification, southern strategy

DETROIT, March 5 (Reuters) – United Auto Workers President
Bob King says he has finally begun to stem the decades-long
membership decline in one of America’s most powerful labor
unions, but his goal of organizing at least one foreign-owned
automaker in the South continues to elude him.

King, 66, who is slated to step down in June 2014, said two
years ago that the UAW did not have a future if it could not
organize workers at plants in Mississippi, Alabama, Georgia and
Tennessee that are owned by Japanese, German and South Korean
auto makers.