Wednesday, April 30, 2008
Daniel Howes
Kerkorian motive is cash and ?
If Ford Motor Co. brass could deliver one message to its employees, now that Las Vegas billionaire Kirk Kerkorian is on his way to owning 5.6 percent of the automaker, it’d be two words — calm down.
Good advice, even if those same executives are doing anything [...]
GM posts $3.25 billion loss in 1Q
GMAC, Delphi and American Axle are costly problems
queryvar=”gm,posts,$325,billion,loss,in,1q”;
Philip Nussel
Automotive News | April 30, 2008 - 7:22 am EST
DETROIT — General Motors said today it posted a net loss of $3.25 billion during the first quarter — the bulk of the red ink coming from one-time charges for its [...]
GMAC posts $589 million loss; may not turn 2008 profit
queryvar=”gmac,posts,$589,million,loss;,may,not,turn,2008,profit”;
Automotive News | April 29, 2008 - 9:15 am EST
NEW YORK (Reuters) — Finance company GMAC said on Tuesday its first-quarter loss nearly doubled as more customers fell behind on mortgage payments, and that it may not turn a profit this year.
The loss increased to $589 [...]
Tuesday, April 29, 2008
GM to idle thousands at 4 plants
Shifts to be cut at Flint, Pontiac as demand falls.
Sharon Terlep / The Detroit News
General Motors Corp. will further slash production of fuel-thirsty trucks and SUVs — a move that will eliminate about 3,500 hourly jobs at four North American factories, including ones in Flint and [...]
CAW reaches early deal with Ford
Preliminary deal preserves wages; protects St. Thomas plant
queryvar=”caw,reaches,early,deal,with,ford”;
David Barkholz
Automotive News | April 28, 2008 - 3:53 pm EST
Ford Motor Co. is five months ahead of schedule on a new master labor contract with the Canadian Auto Workers that would preserve Ford’s St. Thomas, Ontario, assembly plant until at least [...]
GM slashes North American truck production
DETROIT — General Motors today moved to cut full-size truck production in North America by 138,000 units for the remainder of the year.
GM will take out about 88,000 units of full-size pickup production and 50,000 units of full-size SUV production, the automaker said in a press release.
GM said that it [...]
Kerkorian offers to buy 20 million shares of Ford stock
Price: $8.50; Kerkorian would own 5.6% of automaker
queryvar=”kerkorian,offers,to,buy,20,million,shares,of,ford,stock”;
Automotive News | April 28, 2008 - 8:35 am EST
NEW YORK (Reuters) – Kirk Kerkorian’s Tracinda Corp said today it intends to make a cash tender offer for up to 20 million shares of Ford Motor Co. at a [...]
Monday, April 28, 2008
Motive in UAW threats unclear
Union pushing GM for rich Axle deal, some say; leaders cite other issues.
Sharon Terlep / The Detroit News
When the United Auto Workers launched a national strike last year against General Motors Corp., the reasons were obvious.
The automaker was demanding unprecedented cuts and historic changes in how employees are [...]
Cellulosic ethanol demo plant being built
Leslie J. Allen
Automotive News | April 25, 2008 - 4:41 pm EST
Cellulosic ethanol producer Coskata Inc., which recently entered a partnership with General Motors, says it will build a demonstration plant in Pennsylvania capable of producing 40,000 gallons a year. The facility, about 30 miles southeast of Pittsburgh, [...]
Friday, April 25, 2008
Wagoner’s GM package valued at $14M
Sharon Terlep / The Detroit News
General Motors Corp. Chairman and Chief Executive Rick Wagoner’s 2007 compensation package was valued at roughly $14 million, a 40 percent increase from 2006, the company reported Friday.
Wagoner’s salary of $1.6 million last year was nearly 30 percent higher than the $1.3 [...]
Friday, April 25, 2008
American Axle blames $27M first-quarter loss on UAW strike
Eric Morath / The Detroit News
The United Auto Workers strike against American Axle & Manufacturing Holdings Inc. cost the supplier $132.6 million in first-quarter sales and drove its bottom line into the red, the supplier said today.
The strike at five of its U.S. plants [...]
Friday, April 25, 2008
UAW won’t strike today at GM’s Kansas and Grand Rapids plants
Sharon Terlep / The Detroit News
General Motors Corp. has avoided another strike — at least for today.
The United Auto Workers has extended its strike deadlines at two factories where the union was threatening to launch walkouts this morning, including the plant that [...]
UAW STRIKE AT AMERICAN AXLE
American Axle to suppliers: Be ready to resume production
queryvar=”american,axle,to,suppliers:,be,ready,to,resume,production”;
David Barkholz
Automotive News | April 25, 2008 - 11:30 am EST
DETROIT — American Axle & Manufacturing Holdings Inc., enduring an 8-week UAW strike, told its suppliers today to prepare to resume production.
Company purchasing chief Michael Flynn said in a memo that all [...]
GM execs’ salaries restored
New board member nominated
queryvar=”gm,execs’,salaries,restored”;
Jamie LaReau
Automotive News | April 25, 2008 - 4:33 pm EST
DETROIT — General Motors gave its top executives a pay increase this year and returned CEO Rick Wagoner’s base salary to its 2003-06 level.
In its annual proxy statement released today, GM listed CEO Rick Wagoner’s 2008 base salary [...]
Friday, April 25, 2008
‘09 Corvette has 638 horses, reaches 205 mph
The $100,000 ZR1 sports 6.2-liter V-8 engine and will hit dealerships this summer.
Scott Burgess / The Detroit News
The 2009 Chevrolet Corvette ZR1’s supercharged V-8 officially produces 638-horsepower, General Motors Corp. executives announced today. GM completed SAE certification of the ZR1’s 6.2-liter LS9 engine and released [...]
Friday, April 25, 2008
Ford posts profit; more cuts coming
Automaker earns $100M in 1st quarter but plans further U.S. production, job cutbacks.
Bryce G. Hoffman / The Detroit News
Ford Motor Co.’s surprise $100 million first-quarter profit pushed Blue Oval shares nearly 12 percent higher Thursday, but the Dearborn automaker warned that deeper cost cuts will be necessary [...]
Friday, April 25, 2008
Unrest hurts GM hot-sellers
As stock in showrooms dwindles, so too may buyer enthusiasm for firm’s Enclave, Malibu, analysts say.
Sharon Terlep / The Detroit News
General Motors Corp. dealers have waited years for the automaker to turn out the kind of must-have vehicles that draw throngs of shoppers into showrooms and sell without deep [...]
UAW STRIKE AT AMERICAN AXLE
Axle seeks different terms for specific plants, UAW says
Long-term executive incentive plan rejected by shareholders
queryvar=”axle,seeks,different,terms,for,specific,plants,uaw,says”;
David Barkholz
Automotive News | April 24, 2008 - 12:11 pm EST
DETROIT — The president of a key American Axle & Manufacturing Holdings Inc. union local said today that the company is trying to get different wage [...]
Wednesday, April 23, 2008
Scott Burgess: Review
Expedition with attitude
Hip-hop DJ’s expertly built SUV commands attention on the road
CLEVELAND — Cruising to Cleveland requires a good stereo, a solid ride and the constitution to stay awake no matter how flat the Interstate.
This road trip had two objectives: Test the 2008 Ford Expedition designed by Funkmaster Flex and [...]
Magna unit buys Japanese stamping plant in Ala.
Cosma will expand operations with Ogihara acquisition
queryvar=”magna,unit,buys,japanese,stamping,plant,in,ala”;
Bernadine Williams
Automotive News | April 22, 2008 - 3:15 pm EST
Magna International Inc.’s Cosma subsidiary said today that it will buy Ogihara America Corp.’s stamping and subassembly plant in Birmingham, Ala.
The plant posted sales of $140 million in 2007 and employs [...]
GM avoids strike at Malibu plant — for now
Report: Detroit-Hamtramck plant to restart next week
queryvar=”gm,avoids,strike,at,malibu,plant,–,for,now”;
David Barkholz
Automotive News | April 22, 2008 - 4:28 pm EST
General Motors has won a two-day reprieve from a possible UAW local strike of its key Chevrolet Malibu assembly plant in Kansas City, Kan.
Officials at UAW Local 31 agreed to [...]
UAW STRIKE AT AMERICAN AXLE
American Axle: UAW offers still uncompetitive
queryvar=”american,axle:,uaw,offers,still,uncompetitive”;
Automotive News | April 22, 2008 - 6:15 pm EST
DETROIT (Reuters) — American Axle & Manufacturing Holdings Inc. said on Tuesday the UAW has rejected several company wage and benefit offers that are "considerably" above market rates during talks aimed at ending an eight-week strike.
American Axle [...]
Tuesday, April 22, 2008
GM faces barrage of strike threats from UAW locals
Ohio factory nixes deal, while union warns of walkout at another site.
Sharon Terlep / The Detroit News
Workers at a General Motors Corp. factory in Parma, Ohio, have rejected a tentative contract reached earlier this month under the threat of a strike by the United [...]
Tuesday, April 22, 2008
GM slips on Fortune 500 list
Softening auto sales send carmaker lower on annual revenue ranking; Wal-Mart again tops list.
Stevenson Jacobs / Associated Press
NEW YORK — Declining U.S. auto sales battered General Motors Corp., which fell one position to No. 4 on the 2008 Fortune 500 list, the magazine’s annual ranking of the [...]
UAW STRIKE AT AMERICAN AXLE
Axle shortage causes more GM slowdowns
queryvar=”axle,shortage,causes,more,gm,slowdowns”;
Philip Nussel
Automotive News | April 21, 2008 - 12:00 pm EST
DETROIT — The growing shortage of axles in North America forced General Motors to eliminate a shift today at its auto assembly plant in Oshawa, Ontario. GM also said it slowed production of four-speed transmissions [...]
Saturday, April 19, 2008
Axle strikers say progress is too slow
Eric Morath / The Detroit News
DETROIT — After 53 days on the picket line, American Axle strikers say they are growing frustrated with slow progress, a lack of information from their union and the company’s apparent unrelenting stance.
Several said Friday they were disappointed that after a [...]
GM Canada plans to slash labor costs - report
Automotive News | April 18, 2008 - 9:40 am EST
TORONTO Reuters) - General Motors of Canada is set for a battle with its unions as it plans to regain its competitive advantage by cutting back on paid time off, allowing temporary workers, and getting rid of strict [...]
UAW targets Malibu plant in Kansas
queryvar=”uaw,targets,malibu,plant,in,kansas”;
David Barkholz and
and Robert Sherefkin
Automotive News | April 18, 2008 - 2:58 pm EST
DETROIT — Production of the hot-selling Chevrolet Malibu is again endangered.
UAW Local 31 has given General Motors a five-day strike notice that it will walk out at GM’s Fairfax assembly plant Tuesday, April 22, unless [...]
Friday, April 18, 2008
UAW flexes its muscles: Weakened union shows strikes still powerful tool
Recent walkouts snare dozens of plants
Sharon Terlep / The Detroit News
LANSING — Only a few thousand of the United Auto Workers’ nearly 480,000 members will be on strike and walking the picket line today.
But the union, roiled by demands for wage and [...]
UAW strikes GM crossover plant in Mich.
queryvar=”uaw,strikes,gm,crossover,plant,in,mich”;
Richard Truett
Automotive News | April 17, 2008 - 11:20 am EST
Production of General Motors’ trio of hot-selling crossovers — the Saturn Outlook, Buick Enclave and GMC Acadia — skidded to a halt this morning when UAW hourly workers struck a GM plant near Lansing, Mich.
Neither GM nor the [...]
Thursday, April 17, 2008
GM, Ford to cut pay for summer temps
Those workers will earn about $14 an hour instead of $18; Chrysler won’t hire any fill-ins.
Sharon Terlep / The Detroit News
Taking a part-time summer job with one of Detroit’s Big Three automakers has long meant good, quick money for thousands of workers.
But the payoff just [...]
Strike halts GM crossover production in Mich.
queryvar=”strike,halts,gm,crossover,production,in,mich”;
Automotive News | April 16, 2008 - 12:45 pm EST
DETROIT — UAW hourly workers went on strike last night at an interiors plant in Lansing, Mich., forcing General Motors to halt production of its hot-selling crossover vehicles at a nearby assembly plant on Wednesday morning.
About 65 UAW workers at [...]
UAW STRIKE AT AMERICAN AXLE
Source: UAW and Axle could have a deal by weekend
queryvar=”source:,uaw,and,axle,could,have,a,deal,by,weekend”;
Robert Sherefkin
and Philip Nussel
Automotive News | April 17, 2008 - 12:01 am EST
DETROIT — The bitter labor stalemate between American Axle and Manufacturing Holdings Inc. and the UAW appears to be over, with significant progress taking place at the bargaining [...]
Big families get extended ride
Stretch Truck adds row of doors, seats to trucks and SUVs to ease growth.
Larry Edsall / Special to The Detroit News
We’ve all seen those hideously stretched sport utility limousines. And while Stretch Truck Co. stretches pickup trucks and SUVs, adding a row of doors and two or three seats, the idea [...]
Wednesday, April 16, 2008
Delphi pays $46M to retiree fund
Supplier’s pension payment $323M less than feds require; bankruptcy exit months away, Miller says.
David Shepardson / Detroit News Washington Bureau
DETROIT — Delphi Corp. said Tuesday it paid $46 million into its pension fund, far short of the $369 million required under federal law. The payment came as [...]
Auto headlines
April 15, 2008
Strike deadline suspended
A UAW local in Flint has suspended a threat to strike General Motors Corp. Thursday.
During the weekend, negotiators for UAW Local 598 and the automaker agreed to continue talks until an agreement is reached.
"There will be no strike by UAW Local 598 workers," the union said on its Web site.
The [...]
Tuesday, April 15, 2008
Big 3 may start hiring in Sept.
Report finds carmakers to add 46K workers by 2016
Mark Hornbeck / Detroit News Lansing Bureau
LANSING — A distant light amid Michigan’s economic darkness: Detroit’s Big Three automakers will start hiring as soon as September and will employ nearly 46,000 new workers in this state over the [...]
CAFE casualty: Nissan to outsource Titan
queryvar=”cafe,casualty:,nissan,to,outsource,titan”;
Lindsay Chappell
Automotive News | April 15, 2008 - 12:01 am EST
Looming regulatory changes on pickup truck fuel efficiency and emissions will cause Nissan North America Inc. to throw in the towel on manufacturing its full-sized Titans in 2011.
Nissan — the first Japanese automaker to attempt full-sized American pickups — [...]
Thursday, April 10, 2008
UAW makes pitch to end 45-day American Axle walkout
Eric Morath / The Detroit News
DETROIT — The United Auto Workers union presented a broad contract proposal to American Axle & Manufacturing Holdings Inc. Wednesday that counters the company’s demands to cut employees’ combined wages and benefits by more than half.
Adrian King, president of [...]
Toyota and GM recall 660,000 cars for window defect
Corollas, Matrixes and Vibes from 2003-04 model year included
queryvar=”toyota,and,gm,recall,660,000,cars,for,window,defect”;
Harry Stoffer
Automotive News | April 9, 2008 - 2:52 pm EST
WASHINGTON — Toyota Motor Sales U.S.A. Inc. and General Motors are recalling more than 660,000 cars built for the 2003-04 model years to repair side window hardware.
The recall [...]
