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NEWS ABOUT: United Auto Workers

United Auto Workers stories: 74 news summaries

1 - 20 of 74 Stories | 1 2 3 4 Next >>

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 Ford Posts $1B Q3 Profit 



Surprise swing to black driven by cost cuts, Cash for Clunkers

Nov 2, 09 6:41 AM CST
(AP) - Ford earned $1 billion in the third quarter, fueled by US market share gains, cost cuts, and the government's Cash for Clunkers rebates. The automaker, reporting net income of $997 million, or 29 cents per share. says it now expects to be "solidly profitable" in 2011. The company lost... More »

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United Auto Workers • US automakers • Ford Motor Co. • Cash for Clunkers

(AP) - United Auto Workers members have ratified a package of concessions designed to reduce General Motors' labor costs. Union president Ron Gettelfinger said today 74% of GM's production and skilled-trade workers voted in favor. The vote comes before the company's expected Chapter 11 bankruptcy protection filing Monday. Bankruptcy experts say having... More »

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United Auto Workers • bankruptcy • General Motors • labor • union • labor unions • trade unions • auto industry • Ron Gettelfinger • Big Three • UAW

(Newser) - If General Motors goes into bankruptcy next Monday—as is widely expected—the US government will own 70% of the automaker, the New York Times reports. Under a plan that GM officials detailed today to union members, the UAW would take a 17.5% stake though its health care... More »

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United Auto Workers • General Motors • Treasury Department • Chevrolet • auto industry • Obama administration • President Obama • bankruptcy protection • UAW

GM, UAW Cut Deal on Labor, Health Care

Tentative pact may
save struggling auto giant more than $1B

May 21, 09 1:44 PM CDT
(Newser) - Monitored by the Treasury department, General Motors and the United Auto Workers have reached a tentative deal to modify conditions of their labor contract and retiree health care trust, which could save the flatlining automaker more than $1 billion. Still, Chapter 11 bankruptcy remains likely for GM, and union reps... More »

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United Auto Workers • General Motors • Detroit • automaker • labor costs • health care trust • auto worker

 UAW to Own 55% of Chrysler 


Apr 28, 09 8:07 AM CDT
(Newser) - The United Auto Workers are about to own Chrysler. In exchange for a variety of concessions, the union will eventually get a 55% majority share in the automaker, according to a summary of the restructuring deal, which was sent to union leaders late last night and reviewed by the More »

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Chrysler • United Auto Workers • Cerberus Capital Management • Daimler • auto industry • Fiat

 GM to Cut 21K US Factory Jobs 

Firm restructuring in bid for more government aid

Apr 27, 09 8:53 AM CDT
(AP) - General Motors will cut 21,000 US factory jobs by next year, phase out its Pontiac brand, and ask the government to take company stock in exchange for half of GM's government debt as part of a major restructuring effort needed to get more government aid, the firm said today.... More »

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United Auto Workers • General Motors • bond trading • debt • recession • stock • restructuring • job cuts • government loans

(Newser) - Auto workers cut a new agreement with Chrysler today that brought the automaker closer to a partnership deal with Fiat, the Wall Street Journal reports. Agreeing to lower health care benefits for retirees, United Auto Workers called the "concessionary agreement" painful but said it met President Obama's rigorous... More »

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Barack Obama • Chrysler • United Auto Workers • Treasury Department • Fiat

(Newser) - Chrysler is preparing to file for bankruptcy as early as next week, the New York Times reports. The best-case scenario for survival: Chrysler will strike a deal with its lenders, file for bankruptcy protection to shed liabilities, then merge its strongest assets with Fiat. If those deals fall through, the... More »

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Chrysler • United Auto Workers • bankruptcy • auto industry • Federal government • Fiat • Obama administration • UAW

 GM Aims for Fastest  
 Possible Bankruptcy  

Treasury directed GM to prep for Chapter 11 as options dwindle

Apr 13, 09 7:40 AM CDT
(Newser) - General Motors is in high gear, the New York Times reports, prepping for a possible bankruptcy that would allow the company to reorganize and emerge from protection in as little as 2 weeks. Since the Treasury Department instructed the automaker to prepare for a bankruptcy filing by June 1, in... More »

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Delphi • United Auto Workers • bankruptcy • General Motors • restructuring • Chapter 11

GM to Miss Restructuring Deadline, Win Extension

Seeks one month extension to allow negotiations with UAW, bondholders

Mar 27, 09 7:35 AM CDT
(Newser) - General Motors, about to miss its March 31 deadline for completing the cost-cutting restructuring plan it submitted to the government, is expected to get a 30-day extension, reports the Wall Street Journal. Though the UAW has agreed to shed 7,600 jobs at GM next week, and another 10,000... More »

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United Auto Workers • General Motors • retirees • restructuring • health plan

In Bankruptcy Maneuver,
GM May Split in 2

If GM faces Chapter 11, a splitting of the company could avert disaster

Mar 26, 09 10:36 AM CDT
(Newser) - General Motors executives and Treasury officials alike seem adamant that the company should avoid Chapter 11 bankruptcy at all costs, but bankruptcy scenarios are already crystallizing behind the scenes, BusinessWeek reports. One option calls for splitting the company into a “good GM,” which would emerge from bankruptcy with... More »

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United Auto Workers • bankruptcy • General Motors • Detroit • bonds • Treasury Department • Chapter 11

Bankruptcy Not the Way to Go: GM Boss

Wagoner maintains 99% of problems can be solved without filing

Mar 17, 09 10:48 AM CDT
(Newser) - GM can still avoid bankruptcy, CEO Rick Wagoner said today, telling reporters in Washington that "99%" of the company’s problems could be fixed and that he was working with the UAW and bondholders to reduce debt and costs. Bankruptcy “could work,” he said, “but it... More »

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United Auto Workers • bankruptcy • General Motors • Rick Wagoner • auto bailout

OPINION

Ford-UAW Deal Shows Detroit the Way Forward

Compromise reveals Detroit's 'dinosaurs' can adapt to survive

Mar 10, 09 1:39 AM CDT
(Newser) - The deal hammered out between Ford and the UAW offers Detroit a rare glimpse of hope for the future, Jim Jelter writes in MarketWatch. The deal, ratified by workers yesterday, lets Ford pay half its health-care costs for workers in shares instead of cash, binding workers fortunes' closer to the... More »

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United Auto Workers • automaker • Ford • union • auto industry • organized labor

Obama Auto Team in Detroit Considering $22B More in Aid

GM and Chrysler, both facing collapse, woo more taxpayer dollars

Mar 9, 09 10:28 AM CDT
(Newser) - With the specter of bankruptcy looming over General Motors and Chrysler, President Obama’s auto team is in Detroit today as it considers whether to give the companies $22 billion more in bailout cash, the Wall Street Journal reports. The field trip will include visits to production and engineering facilities... More »

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Chrysler • United Auto Workers • General Motors • auto industry • Chapter 11 • Obama administration • financial crisis • President Obama • auto bailout • Steven Rattner • Chevy Volt

ANALYSIS

 Detroit Bailout Proposals: 
 Disappointing, Incomplete 

Chrysler, GM offer no plans to get people to buy their cars

Feb 18, 09 10:50 AM CST
(Newser) - GM and Chrysler now want another $22 billion from Washington—and propose to use dramatic job cuts to help right their respective ships. What both companies avoid, writes economist Susan Helper for the New Republic, is an appraisal of the real problem: Nobody wants to buy their cars. Rather than... More »

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Chrysler • United Auto Workers • General Motors • Ford • labor unions • Big Three • auto bailout

GM: Give Us More Money
or We'll Go Bankrupt

GM, Chrysler working to prepare turnaround plans before Tuesday deadline

Feb 14, 09 7:17 AM CST
(Newser) - General Motors will put Congress between a rock and a hard place when it presents its turnaround plan next week, reports the Wall Street Journal. Insiders say the automaker will ask for at least another $5 billion in loans on top of the $13.4 billion already received to keep... More »

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Chrysler • United Auto Workers • bankruptcy • General Motors • auto industry • Rick Wagoner • auto bailout

 Ford Reports Record $14.6B 
 Loss for 2008 

The nation's No. 2 automaker says it has enough cash and credit available for 2009

Jan 29, 09 7:17 AM CST
(Newser) - Ford Motor Co. today reported its worst year in its 105-year history, driving through more than $5.9 billion in cash in the fourth quarter on its way to a $14.6 billion loss for the year, reports Bloomberg. The company said it had enough cash reserves and credit available... More »

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United Auto Workers • corporate earnings • auto industry • auto bailout • Ford Motor Co.

analysis

Bush Loan Could Crush Once-Powerful UAW

Union takes benefits "equal" to nonunion workers

Dec 20, 08 3:58 PM CST
(Newser) - Washington's $17.4 billion loan to Detroit automakers may inflict a death blow to one of America's most powerful unions, the Washington Post reports. The loan requires UAW workers to accept pay and benefits “equal” to those of nonunion workers, a stipulation that undermines the union's purpose, analysts say.... More »

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United Auto Workers • labor unions • auto industry

(Newser) - The defeat of the Detroit bailout bill by Senate Republicans is seen by some in Washington as a preemptive strike against organized labor, the Los Angeles Times reports. The GOP framed their opposition partly as a message to the United Auto Workers, claiming high wages were the cause of Detroit’... More »

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Congress • United Auto Workers • Detroit • GOP • Big Three • bailout • organized labor • auto bailout

UAW, Republicans Blame Each Other on Bailout

Gettelfinger says he felt he was being 'set up'

Dec 12, 08 11:21 AM CST
(Newser) - The UAW and opponents of the failed Detroit bailout blamed each other today for the impasse, the New York Times reports. GOP Sen. Bob Corker says the rescue plan could have been salvaged if the UAW had listened to him. "I offered him a solution," he said of... More »

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United Auto Workers • Senate • auto industry • Ron Gettelfinger • bailout • Bob Corker • financial crisis

1 - 20 of 74 Stories | 1 2 3 4 Next >>


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