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
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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
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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
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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 [...]
