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Yesterday
Ford meeting informally with UAW on costs
DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) will continue meeting informally with United Auto Workers leaders to discuss labor issues following the rejection of concessions by U.S. rank-and-file workers, a top executive said on Wednesday.
Wednesday, Nov 4
Fresh approach excites UAW; dealers cautious
LOUIS AGUILAR AND DAVID SHEPARDSON The Detroit News Sen. Debbie Stabenow, D-Lansing, said she had spoken with new Chrysler Chairman C. Robert Kidder and thinks the Fiat team is doing a good job. © Copyright 2009 The Detroit News. All rights reserved.
Tuesday, Nov 3
White House: Taxpayers will be repaid for ’some’ of auto bailout
Washington — The White House won’t guarantee that General Motors Co. and Chrysler Group LLC would repay the full $62 billion they have received in government bailouts. The president also believed that we had a chance to remake a more competitive American auto industry that employs tens of...
GM U.S. auto sales up 4%; Ford sales rise 3%; Chrysler down 30%
General Motors Co. joined Ford Motor Co. in reporting a sales increase in October, but Chrysler Group LLC saw a significant decline. The maker of the Chrysler, Dodge, Jeep and Ram truck brands says it sold 65,803 vehicles last month, up 6 percent from September.
Mulally Spurs Ford Growth With $2,700 More Revenue per Vehicle
Ford will again seek savings from the United Auto Workers union, whose members rejected proposed concessions yesterday. And it is continuing work to strengthen its balance sheet, seeking to raise as much as $3.3 billion in convertible notes and common stock.
Monday, Nov 2
Howes: Ford’s $1 billion profit signals turnaround
And until Ford’s UAW members this week solidly rejected the third revision of the 2007 national contract — revisions patterned after those won by GM and Chrysler in bankruptcy, but which wouldn’t have cut Ford-UAW pay and benefits by one dime — the UAW moved each step of the way right along...
UAW won’t renegotiate after Ford deal fails
The Detroit News But Ford workers who voted no say the automaker, which posted a third-quarter profit of nearly $1 billion Monday, is faring better than General Motors Co. and Chrysler Group LLC, and doesn’t need the same concessions.
Gettelfinger says failed Ford pact worth modest price
In a phone interview, Gettelfinger said he pushed the modest concessions to lock in future product commitments at Ford plants and to bring the Ford agreement with the UAW into pattern with union agreements with General Motors Co. and Chrysler Group.
Sunday, Nov 1
Analysis: Rejection of Ford-UAW deal spells trouble for region, industry
The auto market is still 5 million units short of where it should be," she said. "Ford may be better off than GM and Chrysler, but it is hardly in good financial shape." The concessions are the same ones CAW members granted GM and Chrysler as part of a bailout deal with the Canadian government. Wi...
Saturday, Oct 31
UAW accepts defeat of plan to change Ford deal
November 1, 2009 UAW accepts defeat of plan to change Ford deal Workers say fatigue, skepticism led vote BY BRENT SNAVELY FREE PRESS BUSINESS WRITER Even with a few UAW locals left to vote today, UAW officials have concluded that there is no way that a proposal to modify its labor contract w...
Chrysler offers buyouts to 23,000
Fiat also will provide a chassis for Chrysler to build a version of the Dodge Hornet subcompact car. The Jeep Liberty and Dodge Journey will be marketed globally but the slower-selling Dodge Nitro and Jeep Commander will be killed. Chrysler is also now considering a second-generation of t...
UAW holds out hope to save Chrysler plants
DETROIT (Reuters) — The .UAW remains engaged in talks to persuade Fiat S.p.A. to reverse plans to shutter Chrysler plants scrapped in the U.S. automaker’s bankruptcy, a union executive said today. Chrysler emerged from bankruptcy on June 10 by completing the sale of most of its assets to a new co...
Ford-UAW deal nears rejection; no new negotiations seen
A Ford spokeswoman declined to comment. Ford is the only large U.S. automaker to avoid bankruptcy in 2009, but it posted losses totaling $30 billion from 2006 through 2008 and remains saddled with a much heavier debt load than GM or Chrysler.
Thursday, Oct 29
Two more UAW sites vote down Ford concession deal, jeopardizing passage of contract changes
DETROIT — Workers at two more United Auto Workers locals overwhelmingly rejected changes to their contract with Ford Motor Co. on Thursday, casting further doubt on whether the deal will be approved. Ford is the only Detroit-area automaker to avoid bankruptcy protection and not take aid...
Wednesday, Oct 28
GM CEO says amount of government aid sufficient
Aides characterized the meetings as a courtesy call that included discussion about congressional efforts to resolve complaints by more than 2,000 dealerships terminated by GM and Chrysler that their franchise rights were violated in bankruptcy.
Ford Mustang Plant Among Six to Reject Concessions
By Keith Naughton Oct. 27 (Bloomberg) — Ford Motor Co.’s Mustang plant in Flat Rock, Michigan, is among six factories to reject contract concessions the automaker is seeking to match those the United Auto Workers granted its U.S. rivals.
Treasury plans to give GMAC up to $5.6B
The capital infusion, in exchange for preferred shares of stock, will help the Detroit company that provides auto loans to General Motors Co. and Chrysler Group LLC customers and auto dealers meet new capital requirements. The 90-year-old auto and mortgage finance company was sold by GM...
Monday, Oct 26
UAW, Ford deal is in jeopardy
Instead, they are being asked to match at least some of the concessions the UAW granted to GM and Chrysler. Local 900 (Wayne) Local 1250 (Cleveland) No Local 249 (Claycomo, Mo.) Local 182 (Livonia) Local 845 (Plymouth) Source: Detroit News research
Ford Missouri Workers Reject Concessions, Union Says
Ford, the only major U.S. automaker to avoid bankruptcy, won support from UAW local leaders Oct. 13 on an agreement to grant concessions similar to those secured by General Motors Co. and Chrysler Group LLC. Ford’s 41,000 U.S. hourly workers began voting Oct. 22 and will continue through Oct. 31.
VEBA hires CIO, files federal proposals
The VEBA was created through labor contracts with the three auto companies before GM and Chrysler filed for bankruptcy protection this year. Both companies emerged from their bankruptcies weeks later under a bailout plan that gave the VEBA part ownership in the restructured companies....
Jim Press saga: A hero falls, hard
Cerberus officials declined comment. Nardelli, who has left Chrysler, still works for Cerberus as an adviser. Jim Fynes, president of Phil Long Chrysler-Jeep in Denver, a dealership Chrysler rejected in bankruptcy, says he "was really hyped up on this guy" Press.
Saturday, Oct 24
Prime Minister Buzz? Not so much, Hargrove says
For years, Japanese car manufacturers have flooded the Canadian market with their products, while closing their markets to North American vehicles. Hargrove believes an Auto Pact-like deal with Japan, South Korea and even India could save the Canadian auto industry.
‘No strike’ language riles UAW
The union wanted to negotiate with Ford first because it was financially stronger than GM and Chrysler and had not asked for a taxpayer bailout. According to people familiar with those talks, the UAW hoped to negotiate more favorable terms with Ford and then insist that GM and Chrysler mat...
Friday, Oct 23
Five Ford UAW plants back contract; vote continues
However, Ford said agreements GM and Chrysler made with the UAW around their government-supported reorganizations would put the company at a disadvantage over the long term and sought more cuts to bring costs in line with those rivals.
Feds to slash salaries of bailout execs
Washington — The Obama administration will slash the pay of top executives at seven firms that received government bailouts — including General Motors Co., Chrysler Group LLC, Chrysler Financial LLC and GMAC Inc. Chrysler Financial declined comment.
Thursday, Oct 22
Chrysler Financial to liquidate by end of 2011, U.S. says
Cerberus Capital Management LP officials, however, said they were unaware of any liquidation orders and that closing isn’t part of their business plan. Chrysler Financial spokeswoman Amber Gowen did not comment. Chrysler Group LLC had no comment.
Wednesday, Oct 21
Ford union workers protest contract changes
October 23, 2009 http://detnews.com/article/20091023/AUTO01/910230348 Ford union workers protest contract changes BRYCE G. HOFFMAN The Detroit News Ford Motor Co.’s River Rouge complex has become a hotly contested battlefield as the United Auto Workers and union dissidents squar...
For Car Buyers, the Brand Romance Is Gone
DETROIT — To sell a car in the 1980s, dealers had to do little more than open their doors, and loyal buyers would show up to trade in their Chevrolet for a new Chevrolet, or their Toyota for another Toyota. Just five years ago, Chevrolet and Ford sat comfortably atop the United States market, e...
United Auto Workers’ Voluntary Employee Beneficiary Association Gets Investment Staff in Order
The association was created through agreements with General Motors Co., Detroit; Ford Motor Co., Dearborn, Michigan; and New Chrysler Corp., Auburn Hills, Michigan; to shift the remainder of their retiree medical care obligations to the new trust.
Tuesday, Oct 20
Inside the Chrysler, GM rescues
Chrysler and the United Auto Workers declined comment on Rattner’s observations. Rattner tells a dramatic back story of Chrysler’s near-death experience. Daimler AG, which bought Auburn Hills-based Chrysler in 1998, had "badly run" it, he wrote, as did its successor, Cerberus Capita...
Brand names key to automakers’ future
General Motors and Chrysler have made promising starts by sending the outdated Oldsmobile and Plymouth lines to the graveyard, where they belong. Rebranding Pontiac and eliminating Buick would have made more sense for GM than eliminating both Saturn and Pontiac.
Sunday, Oct 18
Workers chilly to Ford contract, UAW members may oppose it
Ford executives argue that agreements reached between General Motors Co. and Chrysler Group LLC last spring went farther than Ford’s agreement, putting Ford, the only domestic automaker that didn’t accept taxpayer funding this year, at a long-term competitive disadvantage.
Wednesday, Oct 14
Teamsters fight Chrysler, GM cuts
October 16, 2009 http://detnews.com/article/20091016/AUTO01/910160394 Teamsters fight Chrysler, GM cuts DAVID SHEPARDSON Detroit News Washington Bureau Washington — Union car haulers are angry with Chrysler Group LLC for shifting some work to nonunion companies to save money,...
Monday, Oct 12
Ford, UAW reach concession agreement
General Motors Co. and the Chrysler Group LLC won broader "no-strike" agreements from the UAW and additional limits on skilled trade job classifications during their bankruptcy reorganizations, but both were also required to commit to building small cars in the United States.
Sunday, Oct 11
Ford and UAW Nearing Agreement on Contract Changes
DETROIT (Reuters) – Ford Motor Co ( UAW workers at Ford agreed to mid-contract concessions early in 2009, ahead of General Motors Co ( The planned Tuesday meeting of UAW local leaders with the national leadership was reported earlier by the Associated Press and Detroit Free Press.
Tuesday, Oct 6
Harsh morning after for U.S. automakers
Toyota is also chastened by its sales slump, loss of profitability and the problems caused by floor mats that have resulted in deaths and what is now the company’s biggest recall. President Akio Toyoda said Friday that the company is "grasping for salvation" — words that would still seem t...
Monday, Oct 5
Senate cuts $5B from program to aid worker health funds
The provision could provide badly needed financial support to hourly retirees, who have agreed to accept stock in exchange for billions owed in retiree health care at General Motors Co. and Chrysler Group LLC. The UAW’s voluntary employee beneficiary association, or VEBA, owns a 67.7 per...
Japanese automakers fear, admire South Korea’s Hyundai
While Hyundai’s busy grabbing up market share, new Chrysler and Fiat CEO Sergio Marchionne will apparently be busy trying to wean the automaker off of incentives. As the Free Press’ Greg Gardner reports, Mr. Marchionne is apparently under the impression he can change the rules of the boar...
Friday, Oct 2
Toyota is ‘grasping for salvation’ as losses continue, chief says
Toyoda took the helm in June as the world’s biggest automaker faced one of its biggest crises in history amid a global credit crunch and an industrywide sales slump that forced General Motors and Chrysler into bankruptcy. The Prius has helped fuel sales growth at Toyota especially in Japa...
Saturday, Sep 26
Chrysler workers rally to save Sterling Heights plant
Those attending Friday’s rally were clear about why Chrysler should preserve the plant that produces its only midsize cars, Chrysler Sebring and Dodge Avenger. Chrysler and Fiat excluded the Sterling Heights assembly plant and seven other factories from the taxpayer-financed bankr...
Bankruptcy court approves wrongful death suit against Chrysler LLC
A $24 million wrongful death payment against Old Carco LLC which holds the assets of the former Chrysler LLC was approved Thursday in bankruptcy court. But Chrysler appealed the verdict and payment became questionable after Chrysler filed for bankruptcy April 30 and shed many of its lia...
Thursday, Sep 24
GM to speed up payments to parts suppliers
Jim Gillette, director of financial services at auto industry consultant CSM Worldwide in Grand Rapids, said poor supplier relations that have ebbed and flowed over the years have cost GM and the other Detroit automakers the first shot at new inventions from the suppliers.
Wednesday, Sep 23
GM, Chrysler dealer closings to be audited by U.S. Treasury
A separate audit likely will be conducted of Treasury’s ownership and management of GM since the company emerged from bankruptcy. GM and Chrysler say the terminations were carefully chosen to increase the automakers’ prospects for restoring profit after bankruptcy.
Ford will speak to workers on state of the company
Ford is talking with the UAW and its counterpart union in Canada, the Canadian Auto Workers, to gain concessions comparable to those negotiated by Chrysler and GM as part of their bankruptcies. Ford said it would like contract changes so it is not competitively disadvantaged by the new de...
Monday, Sep 21
CPAs say GM safe through 2012
Do they think GM will survive another three years? What about Chrysler? And do they believe that GM and Chrysler will repay the federal loans used to rescue the companies? Chrysler is a riskier bet, they said. Only 10 of the 30 said that Chrysler, now run by its alliance partner Fiat, would su...
Sunday, Sep 20
Chrysler scraps paper owner’s manuals, shifts to DVDs
Finally, Chrysler mailed 500 sample DVDs and printed guides to customers who had bought 2009 Wranglers and sought feedback. The reaction was mostly positive, Motta said, especially to features such as the soft-top video tutorials.
Friday, Sep 18
GM dealers clamor for more vehicles
Last month, GM said it was boosting its third- and fourth-quarter production schedules by 60,000 cars and trucks, adding shifts and overtime and reinstating scheduled down weeks at several factories. Vehicle GM’s dealers 3,649 Equinox 7,737 Traverse 5,943 Source: General Motors Co.
Wednesday, Aug 12
Obama says GM survival essential to U.S. economy
In his first visit to an automobile plant since the November election and since General Motors Co. and Chrysler Group LLC emerged from bankruptcy court, Obama said "automakers are getting back in the game," and defended the government’s $50 billion investment, and ownership stake, in G...
Sunday, May 3
Bankruptcy reality sets in for Chrysler, workers
But the Chrysler case presents a new twist for the New York bankruptcy judge: the involvement of the federal government and President Barack Obama. The president describes the case as a "surgical bankruptcy" and hopes for a quick resolution of the case.
Chrysler expected to sell assets to Fiat
Chrysler’s bankruptcy filing is the latest step in a drastic reordering of the American auto industry, which has been crushed by higher fuel prices, the recession and customer tastes that are moving away from the gas-guzzling SUVs that were once big money makers.
Chrysler plans to close 8 plants in bankruptcy
THE CHRYSLER BANKRUPTCY Jesse Snyder Automotive News | May 1, 2009 - 1:06 pm EST Chrysler plans to close 8 plants in bankruptcy ‘We don’t consider this is over,’ UAW official says queryvar="chrysler,plans,to,close,8,plants,in,bankruptcy"; DETROIT — Chrysler plans to close eigh...
Monday, Mar 30
Opinion: Feds to take hands-on role in GM, Chrysler restructuring
The administration has set strict timetables for GM and Chrysler to complete restructuring and if required changes are not made is likely to force the automakers into bankruptcy in the coming months. After extensive consultation with the administration, (Fiat) has committed to build...
