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Monthly Archives: May 2009
UAW Workers Speak Up About GM's Future – WLAJ
The Plain Dealer – cleveland.com UAW Workers Speak Up About GM's FutureWLAJ, MIIn the revised deal, UAW members agreed to wage freezes, ending bonuses, eliminating non-competitive work rules and a ban on GM strikes until 2015. The automaker is still … Continue reading
Cramer’s Mad Money – The Screwed-up GM Game (5/27/09) (at Seeking Alpha)
Asian shares retreated from seven-months highs on Thursday as concerns grew that rising yields on U.S. government debt could push up borrowing costs and choke off a potential recovery in the world’s largest economy.source Tags: GM
Young Car Buyers Challenge Detroit (at BusinessWeek)
Germany’s economy minister says a high-level meeting hosted by Chancellor Angela Merkel to discuss the future of General Motors Corp.’s opel unit has ended without a decision.source Tags: General Motors
Union bids again to keep NY plant open – The Associated Press
The Post-Standard – Syracuse.com Union bids again to keep NY plant openThe Associated PressMembers of UAW Local 624 are meeting to vote on a new contract that includes wage and benefit concessions union officials hope will keep the New Process … Continue reading
No solution on GM’s Opel at Berlin meeting (AP)
Germany’s economy minister says a high-level meeting hosted by Chancellor Angela Merkel to discuss the future of General Motors Corp.’s opel unit has ended without a decision.source Tags: General Motors, GM
[$$] Germany Hosts Session on Loans to Back Opel (at The Wall Street Journal Online)
General Motors bondholders felt they deserved something like a 58 percent stake in the company in exchange for their billions of dollars in debt. What they were offered wasn’t even close.source Tags: General Motors
PRESS CONFERENCE WITH RON GETTELFINGER, UAW PRESIDENT, AND CAL … – Federal News Service (subscription)
PRESS CONFERENCE WITH RON GETTELFINGER, UAW PRESIDENT, AND CAL …Federal News Service (subscription), DCMR. RAPSON: (In progress.) If you're going to sell it here, build it here. And then finally they came and they agreed to do this. We got … Continue reading
[$$] As TALF Deadline Nears, 7 Deals Come to Market (at The Wall Street Journal Online)
What’s cheaper than a fire sale? Answer: A government give-away. After months of dead-end dealmaking in the collapsing auto industry, acquirers are finally lining up to make a run at the assets being spun off from struggling U.S. automakers led … Continue reading
[$$] Bondholders at GM Right to Be Leery (at The Wall Street Journal Online)
What’s cheaper than a fire sale? Answer: A government give-away. After months of dead-end dealmaking in the collapsing auto industry, acquirers are finally lining up to make a run at the assets being spun off from struggling U.S. automakers led … Continue reading
GM to build compact cars in US; UAW oks contract – The Associated Press
Canoe.ca GM to build compact cars in US; UAW oks contractThe Associated PressIn an interview with The Associated Press on Thursday, UAW President Ron Gettelfinger said GM will not import the cars from China and had agreed as part of … Continue reading
When governments talk, auto bidders listen (Reuters)
What’s cheaper than a fire sale? Answer: A government give-away. After months of dead-end dealmaking in the collapsing auto industry, acquirers are finally lining up to make a run at the assets being spun off from struggling U.S. automakers led … Continue reading
[$$] Oil Rises on Hopes for Rebound (at The Wall Street Journal Online)
General Motors, the company that put tail fins on a Cadillac and was once the nation’s largest employer, moved to the edge of bankruptcy Wednesday as debtholders refused a last-ditch deal.source Tags: Cadillac, General Motors
United Auto Workers approve GM labor agreement – Bizjournals.com
United Auto Workers approve GM labor agreementBizjournals.com, NC“The leadership demonstrated by UAW president Ron Gettlefinger and UAW vice president Cal Rapson, and the hard work from the members of the General Motors and UAW negotiating teams, resulted in an innovative … Continue reading
GM all but certain to file for Chapter 11 (AP)
General Motors, the company that put tail fins on a Cadillac and was once the nation’s largest employer, moved to the edge of bankruptcy Wednesday as debtholders refused a last-ditch deal.source Tags: Cadillac, General Motors, GM
[$$] Germany Hosts Session On Loans to Back Opel (at The Wall Street Journal Online)
Chrysler began a marathon bankruptcy court hearing Wednesday to persuade a judge to approve its plan to sell most of its assets to Italian automaker Fiat and save itself from liquidation.source Tags: Chrysler, Fiat