Bernie's Feed
Jul 18, 2012

Detroit mayor imposes worker benefit, pay cuts

DETROIT (Reuters) – Detroit Mayor Dave Bing said on Wednesday he has imposed 10 percent pay cuts and other contract adjustments to the city workers in an bid to save the cash-strapped city $102 million a year.

The Detroit City Council on Tuesday had rejected by a 5-4 vote Bing’s plan for the cuts. But as part of an April consent deal that gave the state of Michigan more control of the city’s finances, the city’s duty to bargain with union is suspended and the mayor can impose the new contracts without city council approval.

Jul 10, 2012

Chevrolet offers return guarantee, no-haggle pricing for U.S. buyers

DETROIT, July 10 (Reuters) – General Motors Co’s main
brand, Chevrolet, is pushing two new programs designed to keep
customers rolling into dealerships during July and August when
some vehicles switch from 2012 models to 2013 models.

Jesse Toprak, an analyst with TrueCar.com, said that
Chevrolet’s lineup has improved in recent years and the programs
are designed to lure buyers who are uncertain about GM’s
flagship brand and unsure about buying a car in the current
economic climate.

Jul 9, 2012

Dodge Dart ad to debut during baseball All-Star game

DETROIT (Reuters) – Chrysler is launching a multimedia advertising campaign for its Dodge Dart compact sedan with a fast-moving 90-second television spot to be shown during Tuesday night’s Major League Baseball All-Star Game.

The No. 3 U.S. automaker has much riding on the success of the Dart, the first vehicle designed and engineered jointly by Chrysler and its Italian parent, Fiat SpA.

Jul 3, 2012

June auto sales point to best year since 2007

By Bernie Woodall and Ben Klayman

(Reuters) – New auto sales in June raced past expectations on lower gas prices and still-generous incentives, and are on track to score their best year since 2007.

The surprisingly strong June in which sales rose 22 percent from a year ago helped ease fears that weaker-than-expected results in May would suggest a slowdown in demand.

Jul 3, 2012

Automakers show strong U.S. June sales

By Bernie Woodall and Ben Klayman

(Reuters) – Most major automakers showed stronger-than-expected U.S. June sales gains as low interest rates, falling gas prices and still-significant incentives encouraged consumers to set aside concerns about the economy.

Shares of General Motors Inc (GM.N: Quote, Profile, Research) jumped more than 6 percent as the No.1 U.S. auto maker reported a 16 percent increase in vehicle sales from the previous year and said June was its best performing month since September 2008. Ford Inc’s (F.N: Quote, Profile, Research) sales climbed 7 percent and its shares rose 3 percent.

Jul 3, 2012

Chrysler, Nissan show strong June auto sales

By Bernie Woodall and Ben Klayman

(Reuters) – Chrysler Group LLC and Nissan Motor Co showed stronger-than-expected sales gains in June, a sign that U.S. auto sales may have rebounded from a disappointing May.

Auto sales are an early sign of consumer spending each month. The auto industry has been one of the bright spots in the U.S. economy this year, but deteriorating European markets have led industry executives to worry about possible contagion spreading to North America.

Jun 28, 2012

Nissan to produce Sentra at Canton; add jobs

CANTON, Mississippi (Reuters) – Japanese automaker Nissan Motor Co said it will add workers and start production of the Sentra compact sedan at its Canton plant in Mississippi later this year.

Adding Sentra production along with two previously announced vehicles by the end of the year will mean 1,000 more jobs at the plant, Mississippi Governor Phil Bryant said at an event held at the Canton plant on Thursday.

Jun 28, 2012

Nissan to produce Sentra at Canton; to add 1,000 jobs

, June 28 (Reuters) – Japanese car maker Nissan
Motor Co said it will add workers and start production
of its Sentra compact sedan at its Canton plant in Mississippi.

Nissan will add 1,000 jobs to the plant where the Sentra
production will begin in December, Mississippi Governor Phil
Bryant said at an event held at the Canton plant on Thursday.

Jun 22, 2012

Russia’s Severstal: to build customers in U.S., no plans to buy assets

DEARBORN, Michigan (Reuters) – Russian steel company Severstal (CHMF.MM: Quote, Profile, Research, Stock Buzz) will focus on expanding the customer base for its current plants in the United States rather than buying other factories in the country, Chief Executive Alexey Mordashov said on Thursday.

That means it has no plans to buy the former Severstal plant in Maryland now owned by bankrupt RG Steel or an Alabama facility that Germany’s ThyssenKrupp AG (TKAG.DE: Quote, Profile, Research, Stock Buzz) is looking to sell, Mordashov told Reuters in an interview.

Jun 21, 2012

Severstal CEO says no plans to expand in U.S. now

, June 21 (Reuters) – Russian steel company
Severstal has are no plans to expand its U.S.
manufacturing footprint at this time, Chief Executive Alexey
Mordashov said on Thursday.

That also means the company has no plans to buy the former
Severstal plant now owned by bankrupt RG Steel in Maryland or an
Alabama plant of ThyssenKrupp AG, Mordashov told
Reuters in an interview.