General Motors

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Stocks Down, Led by Financials
Stocks Down, Led by Financials
Sep 24, 2007 3:44 PM CDT

Stocks Down, Led by Financials

Financial and energy companies led the way

(Newser) - The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all...

GM, Union Tangle Over Health Care, Labor Costs

Strike highlights rift; negotiations resume

(Newser) - At the root of the UAW's strike against GM's US factories is a fundamental conflict between management's need to cut costs and the union's resistance to offering more givebacks, Bloomberg reports. Negotiations resumed this afternoon between GM, which lost $12.4 billion last year, and the UAW, which represents 73,...

UAW Goes on Strike Against GM
UAW Goes on Strike Against GM
Sep 24, 2007 11:32 AM CDT

UAW Goes on Strike Against GM

Nationwide walkout follows 10 days of talks; negotiations continue

(Newser) - Unionized employees at GM plants across the country walked off the job today after their 11am strike deadline passed without an agreement. The UAW said it had done “everything possible to negotiate a new contract,” including bargaining for 10 days after the initial deadline. GM stock rose this...

UAW Sets 11am Deadline for GM Talks
UAW Sets 11am Deadline for GM Talks
Sep 24, 2007 6:27 AM CDT

UAW Sets 11am Deadline for GM Talks

Union amps up strike talk as sides are said to be close on historic deal

(Newser) - The United Auto Workers have turned up the pressure on contract talks with General Motors by setting a deadline of 11am ET today. The key issue of shifting health care costs to a union-run trust is said to have been settled, but other points remained unresolved yesterday. Still under discussion...

Historic Deal in Sight for GM and UAW

Agreement reached on shifting health costs to union-run trust

(Newser) - After bogging down for several days, talks between General Motors and the UAW got back on track yesterday as automaker and union reps closed in on a historic agreement to shift health-care costs to a union-controlled trust, the Wall Street Journal reports. The two sides are said to have a...

GM and UAW Hit Impasse on Health Care

Talks stalled on funding of union-run trust for medical costs

(Newser) - General Motors has reached an impasse with the UAW on the transfer of health care liabilities to a union-run trust, a serious blow to the company's plans for rejuvenation. Five days into contract talks, negotiators could not agree on the amount GM would pay into the fund, reports Bloomberg, and...

CA Tosses Global Warming Suit v. Automakers

Judge dismisses California's charges against carmakers

(Newser) - A federal judge has thrown out California's attempt to hold automakers liable for the environmental implications of vehicle emissions, the LA Times reports. The judge who rejected the much-watched lawsuit Monday called global warming a "political question" for legislators, rather than courts. The suit had blamed carmakers for Sierra...

GM Talks Resume With Optimism
GM Talks Resume With Optimism
Sep 17, 2007 12:42 PM CDT

GM Talks Resume With Optimism

Marathon yesterday yielded progress on financing for health-care trust

(Newser) - Talks between GM and UAW reps resumed late this morning after a 16-hour session that ran to 3am and came close to an agreement on the key issue of shifting heath-care costs to a union-run trust.  Both sides confirmed good progress, and employees are on the job today, despite...

Still No Agreement in GM-UAW Talks
Still No Agreement in GM-UAW Talks
Sep 16, 2007 5:07 PM CDT

Still No Agreement in GM-UAW Talks

Strike appears remote as GM employees ready for work tomorrow

(Newser) - Tense talks continued between GM and workers today as outside parties were greeted with unusual silence, the Wall Street Journal reports. "I haven't heard much of anything and that's completely different" than before, says a union rep. Still at issue is a health care fund for retirees and how...

GM, UAW Still at the Table
GM, UAW Still at the Table
Sep 15, 2007 5:24 PM CDT

GM, UAW Still at the Table

Deal unlikely to be reached today

(Newser) - GM is back at the bargaining table with UAW reps today, but  agreement on the billion-dollar issues is not imminent, the AP reports. The UAW is said to be seeking job guarantees at US plants in exchange for agreeing to take over union members' health care liabilities via a trust...

GM, UAW Talk Past Deadline
GM, UAW Talk Past Deadline
Sep 15, 2007 6:05 AM CDT

GM, UAW Talk Past Deadline

Contracts renewed on hourly basis

(Newser) - The United Auto Workers and General Motors talked four hours past their midnight deadline for contract negotiations before agreeing to resume bargaining later today. They extended talks on an "hour-to-hour" basis on a deal that would include a union-controlled trust to assume GM's $50-billion liability for retiree health care....

UAW Targets GM on Contract
UAW Targets GM on Contract
Sep 14, 2007 8:25 AM CDT

UAW Targets GM on Contract

Car giant chosen as lead company in crucial talks

(Newser) - The United Auto Workers have chosen General Motors to be the lead company in negotiations on contracts set to expire tonight, adding pressure to strike a deal the UAW will then try to impose on Ford and Chrysler. The union chose GM because it's in the best financial shape of...

Market Rallies on Corporate Gains, Labor News

GM, McDonald's bolster stocks

(Newser) - US stocks rallied today, with blue chips and Countrywide Financial at the helm. A General Motors' analyst upgrade and  a higher-than-anticipated dividend at McDonald's helped drive the Dow up 133.23 points, to 13,424.88. Countrywide rose 14% on news that the battered lender has lined up $12 billion...

McDonalds Supersizes Indexes
McDonalds Supersizes Indexes
Sep 11, 2007 4:33 PM CDT

McDonalds Supersizes Indexes

Blue-chip stocks drive rally, as investors look for safe names

(Newser) - It was a Big Mac Attack on Wall Street today, as the fast food giant’s strong August numbers gave investors hope in consumer spending, leading a rally that left all major indexes up over 1%. GM was also a winner, rising 4% on positive labor news. Analysts say investors...

Energy, Techs Give Stocks a Jolt
Energy, Techs Give Stocks a Jolt
Sep 4, 2007 4:25 PM CDT

Energy, Techs Give Stocks a Jolt

Traders still confident that Bernanke will cut rates; GM leads upward trend

(Newser) - Tech and energy stocks led a rally at the end of today's session on Wall Street, as rumors of an interest-rate cut multiplied and traders examined indications that earnings would outpace prices in the two sectors. GM was up 6.1% as the Dow jumped 91.12 to 13448.86,...

GM Scores With Crossovers
GM Scores With Crossovers
Sep 4, 2007 1:45 PM CDT

GM Scores With Crossovers

New models steering customers back onto American lots in droves

(Newser) - In its fierce battle with Asian automakers to reclaim the hearts and keys of American drivers, GM has three reasons to celebrate: the Buick Enclave, GMC Acadia, and Saturn Outlook. The company’s crossover vehicles combine the look of an SUV with the higher fuel economy of a sedan—and...

Gibbs Eyes Switch to Toyota
Gibbs Eyes Switch to Toyota
Aug 31, 2007 6:25 AM CDT

Gibbs Eyes Switch to Toyota

NASCAR team will leave GM after 16 years

(Newser) - Joe Gibbs Racing is in talks to move to Toyota Motorsports after 16 years and three series championships with General Motors, ESPN reports. The announcement is expected to come Wednesday morning at a press conference that could include Gibbs team drivers Tony Stewart and Denny Hamlin. Neither Toyota nor GM...

How 1st-Year Students See the World
How 1st-Year Students See the World
Aug 21, 2007 8:04 PM CDT

How 1st-Year Students See the World

Annual list reveals mindset of this year's college freshmen

(Newser) - Humvees are always a mere down payment away, and it's only natural to see stadiums named after big corporations. Your source of info on '60s icons is Oliver Stone movies and anything else you need to know comes right from "The Daily Show." Don't worry; you’re not...

In Nardelli, Chrysler Found Its Maverick

Cerberus relying on tough-talking new CEO to cut costs

(Newser) - Former Home Depot chief Bob Nardelli has a reputation for being a brusque, hard-edged maverick, and that’s exactly what his new bosses at Chrysler want, Reuters reports. Cerberus Capital Management hopes to stem losses at the automaker by cutting costs, particularly in the delicate area of unionized workers. Nardelli’...

Toyota Banks Best-Ever Quarter
Toyota Banks Best-Ever Quarter
Aug 3, 2007 2:27 PM CDT

Toyota Banks Best-Ever Quarter

Good yen rate bolsters $4B quarter

(Newser) - Toyota reported its highest quarterly earnings ever today after profits surged 32% to $4.1 billion due to booming sales and favorable exchange rates for the yen. Revenue rose $54 billion, up 16% compared to the same quarter last year, and the Japanese giant sold 2.16 million cars, an...

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