Wednesday, April 1, 2009
Honda offers buyouts, cuts pay, work days
Meghan Barr and Dan Strumpf / Associated Press
COLUMBUS, Ohio — Honda Motor Co. is offering voluntary buyouts, cutting workers’ pay and imposing 13 non-production days at its North American plants to reduce its output this summer by 62,000 vehicles.
Honda spokesman Ron Lietzke said Tuesday that the [...]
Wednesday, April 1, 2009
UAW loses 33,000 members in 2008
Organizing drives fail to keep up to workers leaving auto industry
David Shepardson / Detroit News Washington Bureau
Washington — The United Auto Workers lost more than 33,000 members in 2008, a new post-World War II low as Detroit’s Big Three continued to dramatically downsize.
Overall union membership crept up [...]
Automotive News | April 1, 2009 – 12:01 am EST
Honda to cut North American production, worker pay
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WASHINGTON (Reuters) — Honda Motor Co. said on Tuesday it would cut production in North America by 62,000 vehicles by shutting factories for 13 days starting in May and reduce pay for salaried and factory workers.
[...]
Henderson says GM will meet Obama mandate, even if it means bankruptcy
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Jamie LaReau
Automotive News | March 31, 2009 – 3:34 pm EST
DETROIT — General Motors CEO Fritz Henderson said today that he is ready to meet the Obama administration’s mandate to restructure the company — even if it means going into bankruptcy.
[...]
GM bondholders brace for ‘pennies on the dollar’ offer in revised plan
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Automotive News | April 1, 2009 – 12:02 am EST
NEW YORK (Reuters) — General Motors bondholders on Tuesday braced for a reduced offer of "pennies on the dollar" for about $28 billion in outstanding GM debt and new terms for a swap under a [...]
