United Auto Workers

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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...

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’...

UAW Gears Up for Contract Talks on Health Care

Current system must change as retirees outnumber active workers

(Newser) - The United Automobile Workers Union starts high-stakes contract talks with Detroit automakers tomorrow, at a time when the union counts more retirees than active workers in its ranks—meaning higher health-care costs—and the American automotive industry is in dire financial straits. The talks are being called "the most...

Chrysler Sale Suggests New Deal for Detroit

Ford, GM see hope for restructuring labor costs

(Newser) - The sale of Chrysler to private-equity firm Cerberus Capital Management could be a watershed for the entire industry, the Wall Street Journal predicts. Cerberus thinks it can make the embattled carmaker profitable by restructuring its debilitating $18-billion health care and pension liability. If it succeeds without resorting to bankruptcy—which...

Daimler to Unload Chrysler in $7.4B Deal

German firm keeps minority stake in American auto giant

(Newser) - DaimlerChrysler has sold a majority stake in the Chrysler Group to the American private-equity firm Cerberus for $7.4 billion, the auto giant announced today. The deal unhooks the money-losing American arm of the international conglomerate from its German partner, which will retain a 19.9% stake in Chrysler and...

Steep GM Drop Puts Heat on Labor Talks

Poor sales in North America point to showdown with unions

(Newser) - General Motors, swimming in losses despite major cuts in spending, saw its bottom line plunge a staggering 90% in the first quarter. Somewhat improved automotive profits, especially in emerging markets, were undercut by heavy losses from defaults on high-risk home loans at lending unit GMAC.

Kerkorian Offers $4.5 Billion For Chrysler

Dumped his shares last time around; now is ready with cash

(Newser) - Beverly Hills billionaire Kirk Kerkorian has offered to buy the Chrysler group for $4.5 billion. Kerkorian's investment company, Tracinda Corp., can pay cash for the ailing automotive giant, and is pitching an extra $100 mil for an exclusive two-month period to run due diligence. Tracinda told parent DaimlerChrysler it...

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