General Motors

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OK on Chrysler Pact ThisClose
OK on Chrysler Pact ThisClose
Oct 25, 2007 3:38 AM CDT

OK on Chrysler Pact ThisClose

Workers at four plants vote yes, tipping the scales

(Newser) - Auto workers at four Chrysler plants voted by significant margins to approve a new labor contract yesterday, increasing the likelihood of final ratification by the company's 45,000 workers, despite rejection at several plants. The last vote, at a small-car plant in Illinois that employs 3,000 workers, is scheduled...

More UAW Locals Nix Chrysler Deal
More UAW Locals Nix Chrysler Deal
Oct 24, 2007 8:10 AM CDT

More UAW Locals Nix Chrysler Deal

Four Indiana plants join six others in voting down proposed contract

(Newser) - UAW workers at four Chrysler plants in Indiana last night rejected the embattled contract negotiated by their leaders with the automaker, adding to the six defeats by rank-and-file voters over the weekend. Some smaller locals have approved the contract, says anti-contract organizer Bill Parker, but the larger ones are rejecting...

Chrysler Deal Faces More Rejections
Chrysler Deal Faces More Rejections
Oct 21, 2007 11:02 PM CDT

Chrysler Deal Faces More Rejections

After 6 locals vote down proposed contract, UAW steps up lobbying

(Newser) - UAW members at three auto plants rejected the proposed pact between Chrysler and their union this weekend, bringing to six the number of locals who have voted down the deal, the Wall Street Journal reports.  In a last-ditch effort to salvage the agreement, union leaders are focusing lobbying efforts...

Rocky Road for Chrysler Deal
Rocky Road for Chrysler Deal
Oct 20, 2007 4:44 PM CDT

Rocky Road for Chrysler Deal

3 UAW locals vote down offer that would 'lower our standard of living'

(Newser) - Three UAW locals voted against the new Chrysler deal yesterday, stirring fears that the agreement may be scuttled. Two plants voted against it by 53%, and a third, in Missouri, by 66% among skilled trades and 79% among assembly line workers. They slammed a proposed 2-level pay structure and new...

Struggle to Ratify Chrysler Deal
Struggle to Ratify Chrysler Deal
Oct 16, 2007 3:05 AM CDT

Struggle to Ratify Chrysler Deal

Some local UAW leaders unhappy with new contract

(Newser) - The proposed contract between Chrysler and the United Auto Workers has caused some division within the union and may not be ratified as quickly  as the deal with General  Motors, reports the Detroit Free Press. The council of local leaders who voted to approve it yesterday in Detroit were not...

AT&T, Verizon Look to Ape GM/UAW Retiree Deal

Telecom next industry likely for VEBAs.

(Newser) - GM’s pact with the UAW, which cleared $50 billion in retiree health costs from the automaker’s books by launching a union-run health fund, is drawing imitators. AT&T and Verizon are both hoping to mirror the arrangement created in GM’s deal, Bloomberg reports. The telecom giants have...

UAW Wins Some, May Lose Some in Chrysler Deal

Union hopes for a similar deal with Ford

(Newser) - Chrysler's UAW deal came about largely as a result of the company's late concession to preserve 3,100 UAW jobs at its Mopar parts arm and a transport operation. But even as the union trumpets those victories, more union concessions—allowing Chrysler to cut costs—will probably come to light...

Strike Over After Chrysler, UAW Reach Deal

Tentative contract, said to follow model set by GM pact, brings peace

(Newser) - Chrysler and the United Auto Workers reached a tentative agreement on a new four-year contract this afternoon, the Wall Street Journal reports, just hours after UAW members walked off the job at Chrysler plants. The agreement is said to follow the pattern set by last month's General Motors pact, which...

GM Puts Brakes on Stolen Cars
GM Puts Brakes on Stolen Cars
Oct 10, 2007 7:01 AM CDT

GM Puts Brakes on Stolen Cars

New technology for halting stolen cars

(Newser) - GM's OnStar service could soon reduce dangerous police pursuits, AP reports, by allowing police who spot stolen cars to ask operators to send a signal that slows the car to a halt. "This technology will basically remove the control of the horsepower from the thief," said OnStar's president....

Chrysler to Cut Non-Union Jobs
Chrysler to Cut Non-Union Jobs
Oct 9, 2007 2:27 PM CDT

Chrysler to Cut Non-Union Jobs

Automaker slashes non-unionized jobs to avoid GM's fate

(Newser) - With Chrysler deep in talks on a new contact with the UAW—the clock is ticking on a strike deadline tomorrow morning—sources tell the Detroit Free Press that cuts to non-union employees are in the works. Loss of about 1,600 salaried and contract jobs is expected, on top...

Auto Workers Face Off With Chrysler Next

Union turns to No. 3 automaker to extend terms of GM contract

(Newser) - The United Auto Workers have decided to sit down with Chrysler next, hoping to extend the terms of the contract negotiated with GM last month, Bloomberg reports. At Chrysler, the UAW will be dealing with a CEO who's been on the job just two months—Robert Nardelli, former chief of...

Pay Cuts Will Affect 25% of GM Workforce

New 'non-core' classification nearly halves $51/hour pay

(Newser) - UAW’s new contract with GM will mean lower wages for a quarter of union employees, Bloomberg reports. The 16,766 jobs labeled “non-core” in the deal would drop to $28 an hour, down from $51 an hour. “This is the beginning of the end of the well-paid...

Dow Dips on Monday Overreach
Dow Dips on Monday Overreach
Oct 2, 2007 3:53 PM CDT

Dow Dips on Monday Overreach

A rough housing report doesn’t help

(Newser) - The market was mostly down today, after investors corrected for yesterday’s record-breaking spike, and a new drop in a home-sales index stirred mortgage anxieties. The Dow dipped 40.24 points to 14,047.31, with one strategist telling MarketWatch, “The fundamental news didn’t warrant the rally.”...

Contract Allows GM to Shut 2 Plants

Several others also in jeopardy in deal for job protection

(Newser) - The tentative new contract between GM and United Auto Workers allows the company to shutter two plants and possibly several other facilities, according to a copy of the pact obtained by the AP. The union concessions on plants in Indianapolis and suburban Detroit were made in exchange for guarantees of...

Local UAW Leaders OK GM Agreement
Local UAW Leaders OK GM Agreement
Sep 28, 2007 3:37 PM CDT

Local UAW Leaders OK GM Agreement

Health-care trust, signing bonus details disclosed

(Newser) - United Auto Workers local leaders unanimously approved an agreement with General Motors today, setting the stage for a vote of members next week. The contract specifies that GM will inject $29.9 billion into a union-run trust that will assume health care costs, and continue to pay retiree health-care costs...

GM Pact Marks Health Care Upheaval
GM Pact Marks Health Care Upheaval
Sep 27, 2007 4:40 AM CDT

GM Pact Marks Health Care Upheaval

In seismic shift, more firms 'offloading' insurance costs

(Newser) - The agreement that ended the GM strike this week marks a major turning point for American industrial workers, as the fiscal management of retiree health care is shifted from employer to union. The move is part of a trend as companies seeking to be competitive "offload" health care obligations...

Stocks Rise on Buffett Rumor
Stocks Rise on Buffett Rumor
Sep 26, 2007 3:46 PM CDT

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You...

GM, UAW Deal Is Turning Point for Detroit

Deflects retiree healthcare costs, will buy out some workers

(Newser) - The agreement General Motors and the UAW reached early this morning, after a 2-day walkout, could make a significant difference in Detroit's long, losing battle with foreign competitors who enjoy lower labor costs, the Wall Street Journal reports. GM successfully offloaded spiraling medical costs by forming a union-controlled trust, and...

GM, Union Strike Tentative Deal
GM, Union Strike Tentative Deal
Sep 26, 2007 3:28 AM CDT

GM, Union Strike Tentative Deal

Workers back on job as both sides agree to health pact

(Newser) - General Motors and the United Auto Workers have struck a contract deal that sent striking union members back to the job today, reports the Detroit Free Press. The late-night agreement includes GM's plan for a health program, which was the major sticking point in earlier negotiations.

GM Strike Goes Into Day 2; Talks Continue

Union seeks jobs guarantees in exchange for health-care changes

(Newser) - Bargaining resumed just hours after United Auto Workers walked off the job at GM plants yesterday morning, suggesting that  both sides in the stalled negotiations know they can't afford a prolonged work stoppage, Bloomberg reports. GM is losing output of 12,200 cars a day, a figure that will spike...

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