UAW
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The times, they are a changin'. Carmakers that had seemed bulletproof, or at least too big to fail, are teetering on the brink of insolvency. Government regulations and stipulations on loan money are cinching down emissions and efficiency requirements. And tax incentives are spurring development of high-tech plug-in hybrids. But that's just the tip of the iceberg, according to Ford CEO Alan Mulally. "In 10 years, 12 years, you are going to see a major portion of our portfolio move to electric vehicles," he said in front of a gathering at the Wall Street Journal's ECO:nomics conference in...
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GM starts seeking concessions from UAW, bondholdersThe UAW's near-stranglehold on the domestic auto industry has taken a lot of the blame for the current condition of the carmakers. Whether it's a fair conclusion or not, however, for companies like General Motors to survive, there will have to be concessions from labor and investors alike. Formal...
Ralph Hanson -
Report: UAW seeking seat on GM board
The UAW is reportedly seeking a major stake in General Motors as well as a seat on its board in return for making concessions under the carmaker’s latest restructuring proposal presented to Congress last week. The latest news contradicts statements from UAW president Ron Gettelfinger, who...
Viknesh Vijayenthiran -
UAW will suspend jobs bank, make other concessions to Detroit 3
The controversial jobs bank system, which pays laid-off workers nearly full salary and benefits packages will come to a temporary end as the UAW works with the Detroit carmakers to reach a solution to the current financial crisis. Other concessions include revised payments into the union's health...
Ralph Hanson
