Bernie's Feed
Feb 26, 2015

Takata must save faulty air-bag inflators for litigation, U.S. probe

DETROIT/WASHINGTON (Reuters) – A U.S. safety regulator on Wednesday ordered Takata Corp (7312.T: Quote, Profile, Research, Stock Buzz) to preserve all air-bag inflators removed through a recall process as evidence for a federal investigation and private litigation cases.

It was the first time the National Highway Traffic Safety Administration, an agency of the U.S. Department of Transportation, has ordered a company to preserve evidence for private litigation, said Gordon Trowbridge, a spokesman for NHTSA.

Feb 25, 2015

Car technology troublesome but important to buyers -J.D. Power

DETROIT, Feb 25 (Reuters) – Connecting a mobile phone and
giving voice commands are still causing drivers problems, but
new technology features will be highly desirable to buyers when
they make their next new vehicle purchase, according to a study
of auto dependability released on Wednesday.

Looks and exterior design are still the top reasons why
people avoid buying a certain model, J.D. Power said. But if a
car, truck of SUV does not have the latest technology, 15
percent said they would not buy it, up from only 4 percent last
year.

Feb 20, 2015

Exclusive: UAW president calls GM share buyback proposal premature

DETROIT (Reuters) – United Auto Workers President Dennis Williams, whose union indirectly controls the largest single block of General Motors Co shares, told Reuters an investor group’s proposal that GM buy back $8 billion of its stock is premature, and the amount too high for the company’s long-term health.

An investment firm controlled by Harry Wilson, a former member of the U.S. government task force that restructured GM through bankruptcy in 2009, together with three other hedge funds, is urging it to return part of its roughly $25 billion cash trove to shareholders.

Feb 20, 2015

UAW president calls GM share buyback proposal premature

DETROIT, Feb 20 (Reuters) – United Auto Workers President
Dennis Williams, whose union indirectly controls the largest
single block of General Motors Co shares, told Reuters an
investor group’s proposal that GM buy back $8 billion of its
stock is premature, and the amount too high for the company’s
long-term health.

An investment firm controlled by Harry Wilson, a former
member of the U.S. government task force that restructured GM
through bankruptcy in 2009, together with three other hedge
funds, is urging it to return part of its roughly $25 billion
cash trove to shareholders.

Feb 20, 2015

Interview: UAW chief: Raise worker pay, keep companies competitive

NEW YORK (Reuters) – United Auto Workers President Dennis
Williams told Reuters it would be an “injustice” if workers at
the Detroit Three automakers don’t get a raise in contracts this
year, but he said the union must also ensure the companies
remain competitive.

Williams, in an interview on Thursday with the Reuters
editorial board in New York, gave a glimpse of the union’s
approach to this summer’s contract talks with General Motors Co
, Ford Motor Co and Fiat Chrysler Automobiles
.

Feb 20, 2015

UAW chief: Raise worker pay, keep companies competitive

NEW YORK, Feb 20 (Reuters) – United Auto Workers President
Dennis Williams told Reuters it would be an “injustice” if
workers at the Detroit Three automakers don’t get a raise in
contracts this year, but he said the union must also ensure the
companies remain competitive.

Williams, in an interview on Thursday with the Reuters
editorial board in New York, gave a glimpse of the union’s
approach to this summer’s contract talks with General Motors Co
, Ford Motor Co and Fiat Chrysler Automobiles
.

Feb 20, 2015

UAW chief wants a raise for workers, but not too much

NEW YORK (Reuters) – United Auto Workers President Dennis Williams told Reuters it would be an “injustice” if workers at the Detroit Three automakers don’t get a raise in contracts this year, but he said the union must also ensure the companies remain competitive.

Williams, in an interview on Thursday with the Reuters editorial board in New York, gave a glimpse of the union’s approach to this summer’s contract talks with General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles.

Feb 16, 2015

VW recognizes anti-UAW worker group ACE at Tennessee plant

DETROIT, Feb 16 (Reuters) – Volkswagen AG said
on Monday it had recognized a new group called the American
Council of Employees to represent workers at its auto assembly
plant in Chattanooga, Tennessee, in addition to the United Auto
Workers.

Each worker group will represent workers in an
unconventional manner set up by VW that allows more than one
group to meet with plant management.

Feb 5, 2015

Delphi expects vehicle safety system sales to jump 50 pct for years

DETROIT, Feb 5 (Reuters) – Delphi Automotive Plc
said sales of advanced vehicle-safety systems would jump 50
percent annually for the next several years, sending the auto
supplier’s shares up to a record high Thursday.

The outlook by once-bankrupt Delphi highlights a shift among
big auto suppliers to the design of software-powered vehicle
systems from the manufacture of mechanical parts.

Feb 4, 2015

GM reports higher-than-expected profit despite recall costs

DETROIT, Feb 4 (Reuters) – General Motors Co on
Wednesday posted fourth-quarter earnings far above analysts’
expectations as strong sales of high-margin SUVs and trucks in
North America helped offset record recall costs there, and its
shares rose more than 4 percent.

Chief Financial Officer Chuck Stevens told reporters that
profitability would improve in all geographic markets in 2015
and that the company was “very much on the path to 10 percent
margins (in North America) in 2016.”