DETROIT, Sept 22 (Reuters) – Bob King, the president of the
United Auto Workers, has a problem: the labor union that credits
itself with creating the American middle class has glimpsed the
end of the line.
Two years after the wrenching restructuring of the U.S. auto
industry and the bankruptcies that remade General Motors and
Chrysler, the UAW is facing its own financial reckoning.
America’s richest union has been living beyond its means and
running down its savings, an analysis of its financial records
DETROIT, Sept 17 (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and
the United Auto Workers union reached a proposed contract for
about 48,500 production workers that would create new U.S.
factory jobs and include profit-sharing bonuses.
The proposed contract, which must be ratified by
rank-and-file workers, represents the first since U.S.
taxpayers bailed out GM and Chrysler Group LLC in 2009.
DETROIT, Sept 16 (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and
the United Auto Workers union negotiated into the night Friday
to hammer out a new contract for 49,000 production workers in
the first talks since the top U.S. automaker was saved by a
Earlier on Friday, UAW officials said they were in the
final stage of agreeing on a new contract.
DETROIT (Reuters) – General Motors Co and Chrysler Group LLC agreed to extend labor contracts with the United Auto Workers on Thursday as the union’s negotiations failed to produce the expected breakthrough on pay for 113,000 autoworkers.
The contract extensions followed a similar agreement at Ford Motor Co on Tuesday. The UAW’s contracts with all three automakers expired just before midnight on Wednesday.
DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research) quarterly profit nearly doubled, beating expectations, as the top U.S. automaker took a larger share of global sales and raised prices on its vehicles at a time when major Japanese competitors were largely sidelined.
Despite the stronger-than-expected results, GM faces a tough second half of 2011 with risks from a sputtering economy and Japanese rivals itching to retake share as they recover from the March earthquake in Japan.
DETROIT (Reuters) – General Motors Co’s quarterly profit nearly doubled, beating expectations, as the top U.S. automaker took a larger share of sales globally and raised prices on its vehicles.
Coming out of bankruptcy, GM Chief Executive Dan Akerson and other executives said the company had stripped out enough costs to recession-proof the business so it could thrive even in a weak auto market. The industry’s sales slump in the second quarter and the risk of a double-dip recession could provide the first major test for that claim.
DETROIT, Aug 2 (Reuters) – U.S. auto sales ticked higher in
July, but the industry’s top salesmen cautioned the prospect
for a second-half recovery remained clouded with consumers
hurting in a weak economy.
Chrysler’s U.S. sales chief, Reid Bigland, called the
market “tougher than a cheap steak,” while his equivalent at
General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), Don Johnson, said “consumer
confidence is pretty fragile right now because of everything
that’s happened in the past few months.”
DETROIT (Reuters) – Major automakers posted July U.S. sales that ticked higher from the slump of recent months, but failed to dispel doubts about the strength of the economy and the mood of American consumers.
“We’re seeing that the consumer confidence is pretty fragile right now because of everything that’s happened in the past few months,” General Motors Co’s U.S. sales chief, Don Johnson, told reporters on a conference call.
DETROIT (Reuters) – General Motors Co on Tuesday posted a 7.6 percent sales gain in July on stronger demand for compact vehicles including the Chevrolet Cruze car and Equinox crossover.
GM said U.S. sales rose to 214,915 new cars and light trucks, within the range of analysts’ expectations and up from 199,692 vehicles last year.
TOKYO (Reuters) – Japan’s Fukushima Daiichi nuclear plant ranked as one of the most dangerous in the world for radiation exposure years before it was destroyed by the meltdowns and explosions that followed the March 11 earthquake.
For five years to 2008, the Fukushima plant was rated the most hazardous nuclear facility in Japan for worker exposure to radiation and one of the five worst nuclear plants in the world on that basis. The next rankings, compiled as a three-year average, are due this year.