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		<title>Should GM be allowed to trademark &#8216;range anxiety&#8217;?</title>
		<link>http://www.1853chairman.com/2010/09/02/should-gm-be-allowed-to-trademark-range-anxiety/</link>
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		<pubDate>Fri, 03 Sep 2010 00:20:54 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[Sep 01, 2010 Should GM be allowed to trademark &#8216;range anxiety&#8217;? 08:22 AM&#160;&#160;&#160; &#160; &#160; Updated: 3:41 p.m. ET to include Tesla&#8217;s response. &#160; General Motors is attempting to trademark the term &#34;range anxiety&#34; in its attempt to get across the idea that you may run out of juice in an ordinary all-electric car, but [...]]]></description>
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<div class="date-divider">Sep 01, 2010</div>
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<h3>Should GM be allowed to trademark &#8216;range anxiety&#8217;?</h3>
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<div class="timestamp">08:22 AM&nbsp;&nbsp;&nbsp;</div>
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<p>&nbsp;</p>
<p>&nbsp;</p>
<p><a href="http://i.usatoday.net/communitymanager/_photos/drive-on/2010/09/01/voltx-large.jpg" target="_blank"><strong>Updated: 3:41 p.m. ET to include Tesla&#8217;s response.</strong></p>
<p>&nbsp;</p>
<p>General Motors is attempting to trademark the term &quot;range anxiety&quot; in its attempt to get across the idea that you may run out of juice in an ordinary all-electric car, but not in a Chevrolet Volt. Volt has an auxiliary gas engine backing up its batteries and electric motors.</p>
<p><a href="http://jalopnik.com/5626306/how-gm-will-use-fear-to-sell-you-a-chevy-volt?skyline=true&amp;s=i"><font color="#00529b">Jalopnik found the application</font></a> in the U.S. Patent and Trademark Office. GM confirms that it plans to use the term to denote Volt&#8217;s superiority over its electric competition. &quot;We&#8217;re going to position this as a car first and electric second &#8230; people do not want to be stranded on the way home from work,&quot; says Joel Ewanick, GM&#8217;s head of U.S. marketing.</p>
<p>OK. But what do you say about trademarking a term that has long been in a common usage on the automotive beat. Running the term &quot;range anxiety&quot; on Google turns up 28,700 pages. Is this the kind of term that should be patented?</p>
<p>&nbsp;</p>
<p>Tesla, maker of high-performance electric cars, didn&#8217;t miss a beat:</p>
<p>&quot;By all means, GM can have &#8216;range anxiety,&#8217;&quot; says Vice President Ricardo Reyes. &quot;To Roadster owners, the term is as irrelevant as &#8216;gas stop&#8217; or &#8216;smog check.&#8217; We are, however, looking into trademarking &#8216;Tesla grin.&#8217;&quot;</p>
<p></a><a href="javascript:void(0)" jquery1283473139593="7" style="padding-bottom: 0px; padding-left: 11px; padding-right: 0px; background: url(http://i.usatoday.net/_common/_images/caption0.gif) no-repeat left 50%; color: #666; font-size: 10px; padding-top: 0px">CAPTION</a></p>
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<div class="photo-container" jquery1283473139593="4" style="position: relative; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; height: 246px; clear: both; padding-top: 0px"><span jquery1283473139593="3"><img alt="" src="http://i.usatoday.net/communitymanager/_photos/drive-on/2010/09/01/voltx-wide-community.jpg" width="420" height="244" credit="General Motors" cutline="2011 Chevrolet Volt is an extended-range electric car that goes on sale in December." style="border-bottom: #666 1px solid; border-left: #666 1px solid; margin: 0px; float: none; border-top: #666 1px solid; border-right: #666 1px solid" /></span></p>
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<div class="wording" style="margin: 5px; font-family: Arial, Helvetica, sans-serif">2011 Chevrolet Volt is an extended-range electric car that goes on sale in December.</div>
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<div class="credit" style="text-align: right; width: 322px; float: left; color: #666; font-size: 10px">General Motors</div>
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		<title>Old G.M. Being Sold for Parts</title>
		<link>http://www.1853chairman.com/2010/09/02/old-g-m-being-sold-for-parts/</link>
		<comments>http://www.1853chairman.com/2010/09/02/old-g-m-being-sold-for-parts/#comments</comments>
		<pubDate>Fri, 03 Sep 2010 00:17:20 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[August 31, 2010 &#160; Old G.M. Being Sold for Parts By PETER LATTMAN and MICHAEL J. de la MERCED The new General Motors appears to be thriving. Having emerged from bankruptcy, the revitalized company has recently reported $1.3 billion in quarterly earnings, paraded out a new chief executive and filed an initial public offering that [...]]]></description>
			<content:encoded><![CDATA[<div class="timestamp">August 31, 2010</div>
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<h1><nyt_headline version="1.0" type=" "></nyt_headline>Old G.M. Being Sold for Parts</h1>
<p><nyt_byline></nyt_byline></p>
<h6 class="byline">By PETER LATTMAN and <a class="meta-per" title="More Articles by Michael J. De La Merced" href="http://topics.nytimes.com/top/reference/timestopics/people/d/michael_j_de_la_merced/index.html?inline=nyt-per"><font color="#000066">MICHAEL J. de la MERCED</font></a></h6>
<p><nyt_text></nyt_text></p>
<div id="articleBody"><nyt_correction_top></nyt_correction_top></p>
<p>The new <a class="meta-org" title="More articles about General Motors." href="http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html?inline=nyt-org"><font color="#000066">General Motors</font></a> appears to be thriving.</p>
<p>Having emerged from bankruptcy, the revitalized company has recently reported $1.3 billion in quarterly earnings, paraded out a new chief executive and filed an initial public offering that seeks to pay back a portion of its approximately $60 billion in government loans.</p>
<p>But the old G.M. &mdash; a grim collection of shuttered auto plants, vacant office space and toxic industrial sites &mdash; is one step closer to extinction.</p>
<p>The fate that awaits the old G.M., officially the Motors Liquidation Company, the entity that houses the unwanted assets that were cleaved off in General Motors&rsquo; bankruptcy, was spelled out in its reorganization plan filed late Tuesday in federal bankruptcy court in Manhattan.</p>
<p>The complex plan splits the old G.M. into four trusts, including one financed by $536 million in existing loans from the federal government that will go toward cleaning up auto plants and other properties still owned by Motors Liquidation. The trust will work with 14 states and the <a class="meta-org" title="More articles about the Environmental Protection Agency." href="http://topics.nytimes.com/top/reference/timestopics/organizations/e/environmental_protection_agency/index.html?inline=nyt-org"><font color="#000066">Environmental Protection Agency</font></a> to provide cleanup money to these sites. Another $300 million is earmarked for property taxes, plant security and other expenses.</p>
<p>&ldquo;A significant number of the properties owned by Motors Liquidation Company are old industrial sites,&rdquo; said Ted Stenger, an executive at Motors Liquidation and managing director at AlixPartners, the turnaround and consulting firm. &ldquo;It is nearly impossible to redevelop such properties for productive, job-creating purposes unless environmental remediation is addressed.&rdquo;</p>
<p>Another trust will handle the claims of the owners of G.M.&rsquo;s old bonds, which are expected to get 10 percent of the equity in the new G.M. when it goes public later this year, plus warrants to buy additional shares. A recent report by the fixed-income research firm Gimme Credit estimates that bondholders will most likely end up with about 20 percent of the new G.M.</p>
<p>Two other trusts will handle litigation related to the old G.M., including asbestos-related claims. After the plan is approved &mdash; the court is expected to sign off on it early next year &mdash; the old G.M. will disappear.</p>
<p>&ldquo;While &lsquo;new G.M.&rsquo; is, rightfully, getting a lot of positive attention these days, what&rsquo;s been accomplished here at so-called &lsquo;old G.M.&rsquo; &mdash; including work done well before the bankruptcy &mdash; is historic in its own right,&rdquo; said Al Koch, Motors Liquidation&rsquo;s chief executive and a managing director at AlixPartners.</p>
<p>Mr. Koch said that he expected most of the old G.M. assets would be sold or transferred within four years, while most of the environmental cleanup at the sites &mdash; some of which are contaminated with chemicals called PCBs and other toxins &mdash; would be completed within a decade.</p>
<p>The process of selling the old G.M. plants and other properties &mdash; 50 million square feet of industrial manufacturing space at 127 locations across 14 states &mdash; has been slow going.</p>
<p>So far, Motors Liquidation has raised $125 million through asset sales. It has offloaded three former factories: a Wilmington, Del., assembly plant to Fisker Automotive, the startup hybrid car maker; a Pontiac, Mich., factory to Raleigh Studios, an independent film company that is making the space into a movie studio; and a Strasbourg, France, transmission plant, sold back to the new G.M. for one euro.</p>
<p>Another 17 sites are in discussions to be sold, Mr. Koch said. Other properties have received inquiries from all types of buyers. For instance, an investor group has expressed interest in repurposing the historic Buick City auto manufacturing complex near Flint, Mich., into a shipping hub for soybeans.</p>
<p>There have been recent setbacks. J. D. Norman Industries, a metal components manufacturer in Addison, Ill., is near a deal to acquire a former G.M. stamping plant in Indianapolis, but the local union there last week refused to vote on a new contract that would reduce employees&rsquo; wages.</p>
<p>Other abandoned plants are being preyed upon by thieves. The police in Flint, Mich., are investigating the theft of copper, said to be worth more than $1 million, from a vacant factory there. Last month, burglars fired shots at the police while making their getaway from the Powertrain Flint North plant.</p>
<p>&ldquo;This is a major-league problem,&rdquo; said Robert J. Pickell, the sheriff of Genesee County, Mich., in an interview. &ldquo;These people are robbing G.M. blind.&rdquo;</p>
<p><nyt_correction_bottom></nyt_correction_bottom></p>
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<p><nyt_update_bottom></nyt_update_bottom></div>
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		<title>Rumormill: General Motors mid-size sedans going all four-cylinder</title>
		<link>http://www.1853chairman.com/2010/09/02/rumormill-general-motors-mid-size-sedans-going-all-four-cylinder/</link>
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		<pubDate>Fri, 03 Sep 2010 00:13:21 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[Rumormill: General Motors mid-size sedans going all four-cylinder by Damon Lavrinc (RSS feed) on Aug 31st 2010 at 6:45PM Straight from the &#34;No Surprise&#34; department comes word from GMInsideNews that all of General Motors mid-size offerings will come equipped with four-cylinder engines as the only available powerplant. GM has made it clear for the last [...]]]></description>
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<h2 class="posttitle"><span id="ppt19615504">Rumormill: General Motors mid-size sedans going all four-cylinder</span></h2>
<p class="byline">by <strong><a href="http://www.autoblog.com/bloggers/damon-lavrinc/"><font color="#222222">Damon Lavrinc</font></a></strong> <span class="author-feed">(<a href="http://www.autoblog.com/bloggers/damon-lavrinc/rss.xml"><strong><font color="#222222">RSS feed</font></strong></a>)</span> on Aug 31st 2010 at 6:45PM</p>
<div class="postbody"><!-- sphereit start --><a href="http://www.autoblog.com/2010/08/31/rumormill-general-motors-mid-size-sedans-going-all-four-cylinde/www.gminsidenews.com/forums/f70/gm-midsizers-going-all-four-95088/"><img border="0" hspace="4" alt="" vspace="4" align="right" src="http://www.blogcdn.com/www.autoblog.com/media/2010/08/24di-250op.jpg" /></a>Straight from the &quot;No Surprise&quot; department comes word from GMInsideNews that all of <a href="http://www.autoblog.com/make/gm/"><font color="#006fb1">General Motors</font></a> mid-size offerings will come equipped with four-cylinder engines as the only available powerplant.</p>
<p>GM has made it clear for the last few years that a large part of its future product strategy is to downsize its engine line-up in preparation for the new 2015 CAFE standards. The shift has already begun with the introduction of the <a href="http://www.autoblog.com/model/regal"><font color="#006fb1">2011 Buick Regal</font></a>, available with either a 182-horsepower direct injected 2.4-liter or a turbocharged 2.0-liter putting out 220 hp and 258 pound-feet of torque.</p>
<p>The next model to go all-four-banger will be the next generation <a href="http://www.autoblog.com/tag/malibu"><font color="#006fb1">Chevrolet Malibu</font></a>, slated to arrive late next year and likely packing &ndash; to begin with &ndash; the same 2.4-liter four. A range of direct injected engines, both naturally aspirated and turbocharged, are in the works, so the General won&#8217;t be hurting for options, but expect the V6 to stick around for GM&#8217;s larger offerings, including the next Impala.</p>
<p>[Source: <a href="http://www.gminsidenews.com/forums/f70/gm-midsizers-going-all-four-95088/"><font color="#006fb1">GMInsideNews</font></a>]</p>
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		<title>Freightliner workers sue for back pay and benefits</title>
		<link>http://www.1853chairman.com/2010/09/02/freightliner-workers-sue-for-back-pay-and-benefits/</link>
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		<pubDate>Fri, 03 Sep 2010 00:05:40 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[&#171; Return to Article Click to Print Freightliner workers sue for back pay and benefits Daniel Jackson 2010-09-02 16:22:19 Seven months after laid off Freightliner workers won back pay and benefits in arbitration, none of them have received a dime. On Tuesday, four laid off Freightliner workers filed a class action lawsuit in federal court [...]]]></description>
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<h1>Freightliner workers sue for back pay and benefits</h1>
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<div id="articlebyline"><a href="mailto:djackson@gastongazette.com">Daniel Jackson</a></div>
<div id="articledate">2010-09-02 16:22:19</div>
<p>Seven months after laid off Freightliner workers won back pay and benefits in arbitration, none of them have received a dime.</p>
<p>On Tuesday, four laid off Freightliner workers filed a class action lawsuit in federal court to enforce the arbitration award.</p>
<p>Back in January, arbitrator Robert B. Moberly, a labor law expert and professor at the University of Arkansas School of Law, found Daimler Trucks North America in violation of its 2006 labor agreement, which required the company to make 70 percent of the M-2 business class truck at its Mount Holly plant through April 2, 2010.</p>
<p>Moberly ordered DTNA to compensate roughly 900 employees laid off from the Mount Holly plant in October 2008 and March 2009, during which time the company was outsourcing M-2 production to its plant in Santiago, Mexico.</p>
<p>DTNA and the United Auto Workers were charged with settling on the amount owed to workers. Union officials say they are still working diligently to come to terms with DTNA.</p>
<p>But that effort has not been speedy enough for Charles R. Hall Jr., John O&rsquo;Neill Jr., Timothy L. Phillips and Charlie R. Wooten, who sued both DTNA and the UAW.</p>
<p>&ldquo;[B]y the time the Arbitration Award was determined, many of said individuals and their families were financially ruined and could ill afford yet further and additional delay in the enforcement of the Arbitration Award by Defendant UAW or the continued failure of Defendant Daimler Trucks to make them whole&#8230;,&rdquo; plaintiff&rsquo;s attorney Chet Rabon stated in the complaint.</p>
<p>DTNA spokeswoman Maria McCullough said Tuesday that the company &ldquo;has not been served with a complaint and we are unable to comment at this time.&rdquo;</p>
<p>On the UAW website, Local 5285 president Ricky McDowell said the UAW Heavy Truck Department is &ldquo;working hard to resolve this settlement. The issue of total manpower hours per truck is still in dispute.&rdquo;</p>
<p>According to the complaint, affected union workers don&rsquo;t know when the arbitration award will be paid and they don&rsquo;t know the amount to be paid. However, plaintiffs say McDowell told them in April the amount was about &ldquo;$34 million and growing.&rdquo;</p>
<p>Hall, O&rsquo;Neill, Phillips and Wooten were all laid off in October 2008 after working at the Mount Holly truck manufacturing plant for more than 20 years.</p>
<p>Union officials have announced the recall of as many as 273 workers to the Mount Holly plant as production increased following ratification of a new three-year agreement April 17. The plaintiffs have not been recalled, according to the lawsuit.</p>
<p>Plaintiffs say DTNA also failed to comply with the arbitrator&rsquo;s order to increase production in Mount Holly to 70 percent of all M-2 trucks sold in North America as required by the 2006 collective bargaining agreement, which expired in April.</p>
<p>Had production increased prior to April, any recalled workers would have been entitled to at least six months of company-paid health insurance, according to the complaint.</p>
<p>The new labor contract does not include the 70 percent requirement, but does guarantee baseline production of at least 24 trucks per day in Mount Holly before any M-2 trucks are produced elsewhere.</p>
<p>According to the complaint, UAW breached its duty of fair representation by failing to expeditiously enforce the arbitration award.</p>
<p>&ldquo;These workers who were laid off from Freightliner &#8230; have faced some really severe hardships. And in many instances, those have been financially crippling hardships, including foreclosures of their homes, loss of cars, other assets, things like that,&rdquo; Rabon said Wednesday.</p>
<p>&ldquo;It&rsquo;s our goal through this lawsuit to do everything we can to recover for these workers all that they are entitled to &#8230;,&rdquo; Rabon said.</p>
<p>In his ruling, Moberly retained jurisdiction over the settlement should the UAW and DTNA fail to come to terms on the arbitration award.</p>
<p>But the lawsuit asks the court to take jurisdiction, to appoint a &ldquo;Special Master&rdquo; to determine damages owed to plaintiffs of the class action and to enter a judgment against DTNA and UAW for payment of those damages with interest.</p>
<p>Gary Casteel, director of UAW Region 8, said Tuesday the union is still negotiating with DTNA on the correct amount of the settlement.</p>
<p>&ldquo;We&rsquo;ve not referred it back to the arbitrator,&rdquo; he said.</p>
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		<title>Analyst: GM will launch stock sale Nov. 18</title>
		<link>http://www.1853chairman.com/2010/09/02/analyst-gm-will-launch-stock-sale-nov-18/</link>
		<comments>http://www.1853chairman.com/2010/09/02/analyst-gm-will-launch-stock-sale-nov-18/#comments</comments>
		<pubDate>Thu, 02 Sep 2010 23:42:00 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[September 2, 2010 http://detnews.com/article/20100902/AUTO01/9020466 Analyst: GM will launch stock sale Nov. 18 CHRISTINA ROGERS AND DAVID SHEPARDSON The Detroit News General Motors Co. plans to announce its sale price for its highly anticipated initial public stock offering Nov. 17 and start trading shares Nov. 18, according to a Tampa-based research firm. The Detroit-based automaker will [...]]]></description>
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<td align="left"><font size="1" face="verdana,arial">September 2, 2010</font></td>
<td align="right"><font size="1" face="verdana,arial">http://detnews.com/article/20100902/AUTO01/9020466</font></td>
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<p><font size="6" face="Times New Roman, serif">Analyst: GM will launch stock sale Nov. 18</font><font size="1"><br />
</font><font size="2" face="Times New Roman, serif"><i><br />
CHRISTINA ROGERS AND DAVID SHEPARDSON<br />
The Detroit News</i> </font></p>
<p>General Motors Co. plans to announce its sale price for its highly anticipated initial public stock offering Nov. 17 and start trading shares Nov. 18, according to a Tampa-based research firm.</p>
<p>The Detroit-based automaker will begin its so-called &quot;road show,&quot; with top GM executives selling the virtues of the company&#8217;s stock to potential investors, starting Nov. 3 &#8212; the day after the midterm elections, said Scott Sweet, senior managing partner for IPO Boutique in Tampa.</p>
<p>Sweet said multiple sources told him about GM&#8217;s IPO plans; he declined to identify them.</p>
<p>It&#8217;s unclear if the dates have been finalized, and the Securities and Exchange Commission must approve GM&#8217;s registration statement before the company can offer its stock for sale.</p>
<p>GM is in a &quot;quiet period&quot; before an IPO, so no one is authorized to discuss the process publicly.</p>
<p>However, a person briefed on the matter confirmed the Detroit automaker&#8217;s plan to launch a worldwide roadshow after the elections and then hold a sale a few weeks afterward.</p>
<p>GM will court investors in Asia, Europe and around the United States in its extensive roadshow led by Daniel Akerson, who took over as GM&#8217;s CEO Wednesday.</p>
<p>A post-election road show and sale means GM is likely to announce third quarter earnings before the initial public stock offering. If the third quarter earnings are good, it could push the stock price upward.</p>
<p>The Treasury Department hasn&#8217;t decided how much of its 61 percent stake in GM it will sell. The government got the equity stake in exchange for about $43 billion in government bailout loans.</p>
<p>Numerous published reports have suggested that the government could sell between $10 billion and $16 billion, but government officials could opt to sell less than that as market conditions dictate.</p>
<p>GM is also likely to sell preferred stock of $2 billion to $3 billion, based on how much common stock is sold. Generally, companies sell preferred stock at a ration of 1:5 to common stock.</p>
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		<title>GM&#8217;s new CEO meets with UAW leaders, says let&#8217;s work together</title>
		<link>http://www.1853chairman.com/2010/09/02/gms-new-ceo-meets-with-uaw-leaders-says-lets-work-together/</link>
		<comments>http://www.1853chairman.com/2010/09/02/gms-new-ceo-meets-with-uaw-leaders-says-lets-work-together/#comments</comments>
		<pubDate>Thu, 02 Sep 2010 23:36:42 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[&#160; GM&#8217;s new CEO meets with UAW leaders, says let&#8217;s work together David Barkholz Automotive News &#124; September 2, 2010 &#8211; 4:23 pm EST UPDATED: 9/2/10 4:47 p.m. ET &#160; DETROIT &#8212; New General Motors Co. CEO Daniel Akerson, in his second day on the job, said today in a Labor Day greeting to GM&#8217;s [...]]]></description>
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<h1>GM&#8217;s new CEO meets with UAW leaders, says let&#8217;s work together</h1>
<p>            </span><span class="gray"><strong><a href="mailto:dbarkholz@crain.com"><span class="byline"><strong>David Barkholz</strong></span></a> </strong><br />
            Automotive News | September 2, 2010 &#8211; 4:23 pm EST</span><br />
            <span style="font-family: arial; color: #ff0000; font-size: 12px"><b>UPDATED: 9/2/10 4:47 p.m. ET</b></span><br />
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<td><span class="an_body1">DETROIT &#8212; New General Motors Co. CEO Daniel Akerson, in his second day on the job, said today in a Labor Day greeting to GM&#8217;s 80,000 employees in the United States and Canada that he recently had a get-acquainted meeting with UAW President Bob King and the head of the union&#8217;s GM department, Vice President Joe Ashton.</p>
<p>            After the meeting at the UAW&#8217;s headquarters in Detroit, Akerson said the leaders concluded that, &ldquo;while we will not always see eye to eye on everything, GM will succeed to the extent that management and labor work together.&rdquo;</p>
<p>            The note was posted on GM&#8217;s internal Web sites and distributed to the automaker&#8217;s plants. It was directed at all U.S. and Canadian employees, including 52,000 hourly workers represented by the UAW.</p>
<p>            GM spokesman Tom Wilkinson confirmed the authenticity of the letter obtained by <i>Automotive News</i>.</p>
<p>            Akerson, 61, officially took the helm of the UAW yesterday, succeeding Ed Whitacre, who will retire as chairman by the end of the year.</p>
<p>            GM won major concessions from the union as part of its government bailout last year. And the automaker faces master negotiations with the UAW next year when a four-year contract expires in September 2011.</p>
<p>            King said recently that the union intends to restore some of those concessions as GM, Ford and Chrysler recover and become more profitable. </p>
<p>            Akerson wrote the note to thank workers for their efforts. He especially saluted them for working through the summer when the automaker normally would shut down for model changeovers.</p>
<p>            &ldquo;Many in the U.S. worked through the traditional summer downtime to keep our momentum going,&rdquo; he said.</p>
<p>            Akerson, who mostly guided telecommunications companies during his pre-GM tenure, said he comes from a union family.</p>
<p>            Wrote Akerson: &ldquo;I know on a very personal level the good things that unions can do.&rdquo;</p>
<h4>GM CEO DAN AKERSON&#8217;S LETTER TO EMPLOYEES</h4>
<p>
            GM Employees,</p>
<p>            As Labor Day approaches in the U.S. and Canada, I would like to wish everyone at General Motors a safe, happy holiday weekend. I also ask that we pause for moment to reflect on what this day means as we celebrate labor&#8217;s many contributions here and around the world.</p>
<p>            Of course, labor&#8217;s role in building up this nation and others is well recognized and rightly so. And, coming from a union family, I know on a very personal level the good things that unions can do. </p>
<p>            I met recently with UAW President Bob King and Vice President-GM Department Joe Ashton at Solidarity House, and we agreed that, while we will not always see eye to eye on everything, GM will succeed to the extent that management and labor work together. I believe very deeply in that.</p>
<p>            At GM, the devotion by employees to design, build and sell the world&#8217;s best vehicles shines through every day. Around the world, we rely on the hard work of our designers, engineers, union represented employees, marketers and corporate staff in the most challenging circumstances. Many in the U.S. worked though our traditional summer downtime to keep our momentum going. </p>
<p>            Please accept my sincere thanks for your commitment to General Motors. To employees around the world please know that your work is appreciated. To those in the U.S. and Canada, enjoy this three-day holiday. There will always be more hard work ahead of us, but because of your dedication, I have great optimism for GM&#8217;s future.</p>
<p>            Dan Akerson<br />
            </span></td>
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		<title>Decision Soon on GM Property</title>
		<link>http://www.1853chairman.com/2010/08/29/decision-soon-on-gm-property/</link>
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		<pubDate>Sun, 29 Aug 2010 15:27:34 +0000</pubDate>
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		<description><![CDATA[WSB News function OpenTrackback (c) {window.open(c,'trackback','width=480,height=480,scrollbars=yes,status=yes');} Decision Soon on GM Property By Jon Lewis @ August 23, 2010 6:04 AM Permalink &#124; Comments (4) (WSB Radio)&#160; What will be the fate of the old General Motors plant property in Doraville? The deadline for a decision by the DeKalb County commission is fast approaching. Commissioners will [...]]]></description>
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<div id="entry-110866" class="blogEntry">
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<h1 id="page-title" class="blogEntryTitle"><b class="storyhed">Decision Soon on GM Property</b></h1>
<div class="blogEntryMeta"><span class="blogEntryByline">By</p>
<address class="blogEntryAuthor">Jon Lewis</address>
<p>@ <abbr class="blogPubStamp" title="2010-08-23T06:04:20-05:00">August 23, 2010 6:04 AM </abbr></span><a class="blogPermalink" href="http://wsbradio.com/localnews/2010/08/decision-soon-on-gm-property.html" rel="bookmark">Permalink</a><span class="blogBylineSeparator"> | </span><a class="blogPermalink" href="/localnews/2010/08/decision-soon-on-gm-property.html#comments">Comments (4)</a></div>
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<p>(WSB Radio)&nbsp; What will be the fate of the old General Motors plant property in Doraville?</p>
<p>The deadline for a decision by the DeKalb County commission is fast approaching.</p>
<p>Commissioners will address the matter at their regular meeting on Tuesday morning.</p>
<p>At issue is whether the county should spend $35 million in stimulus money to buy the land for use by a developer.&nbsp;</p>
<p>DeKalb CEO Burrel Ellis thinks the proposal is a good one for the county.</p>
<p>&quot;DeKalb County is making an investment into the project,&quot; he tells Channel Two Action News.&nbsp; &quot;It will be a co-owner.&nbsp; It will lease the land to a private developer.&quot;</p>
<p>But not every member of the commission thinks having the county buy the land with federal stimulus money is a good idea.</p>
<p>&quot;The real purpose of the stimulus was, I believe, to promote jobs and to promote infrastructure projects,&quot; says Commissioner Elaine Boyer.</p>
<p>But Ellis says buying the property will mean jobs, and a lot of them.</p>
<p>&quot;We have an opportunity to create 9000 construction jobs and to put real wages back into the pockets of DeKalb County citizens.&quot;</p>
<p>Boyer says the proposed developer has put together a wonderful project, but, &quot;really, we don&#8217;t get anything out of it.&nbsp; and there&#8217;s no guarantee that thing will be built.&quot;</p>
<p>Another big issue: how much will Doraville contribute to the project. There is no agreement on that right now between the county and the city.</p>
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		<title>$26 billion unfunded liability won&#8217;t stall GM IPO, experts say</title>
		<link>http://www.1853chairman.com/2010/08/29/26-billion-unfunded-liability-wont-stall-gm-ipo-experts-say/</link>
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		<pubDate>Sun, 29 Aug 2010 15:23:01 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[$26 billion unfunded liability won&#8217;t stall GM IPO, experts say By Timothy Inklebarger Source: Pensions &#38; Investments Date: August 23, 2010 &#160; &#160; Knowing: Mark Oline said GM&#8217;s pension plan underfunding is not a surprise to investors. Updated with correction General Motors Co.&#8217;s $26.3 billion unfunded pension liability is unlikely to affect its upcoming IPO, [...]]]></description>
			<content:encoded><![CDATA[<h1>$26 billion unfunded liability won&#8217;t stall GM IPO, experts say</h1>
<p><span class="by-who">By <a href="/apps/pbcs.dll/personalia?ID=TINKLEBARGER">Timothy Inklebarger</a> <br />
Source: Pensions &amp; Investments <br />
Date: August 23, 2010 </span></p>
<p>&nbsp;</p>
<div class="floatleft-border-print" style="width: 150px">&nbsp;</p>
<p class="caption"><b>Knowing:</b> Mark Oline said GM&rsquo;s pension plan underfunding is not a surprise to investors.</p>
</div>
<p><i>Updated with correction</i></p>
<p>General Motors Co.&#8217;s $26.3 billion unfunded pension liability is unlikely to affect its upcoming IPO, rating agency analysts say.</p>
<p>&ldquo;Every automaker has underfunded pensions,&rdquo; David Whiston, an equity analyst with Morningstar Inc., Chicago, said in a telephone interview. &ldquo;It&#8217;s not as if it will scuttle the deal.&rdquo;</p>
<p>According to the Aug. 18 initial public offering filing with the Securities and Exchange Commission, the U.S. pension plans had a $16.7 shortfall as of June 30, down 2.3% from six months earlier and down 14.3% from July 10, 2009.</p>
<p>Noreen Pratscher, a GM spokeswoman, said the U.S. hourly plan is 80% funded; the U.S.salaried plan, 89% funded as of Sept. 30, 2009.</p>
<p>Its non-U.S. pension plans had an unfunded liability of $9.6 billion on June 30, down 6.8% from six months earlier and down 24.4% from July 10, 2009.</p>
<p>The plans&#8217; assets were valued at a combined $98.5 billion as of Dec. 31, 2009, according to the IPO filing.</p>
<p>Mark Oline, group managing director and head of corporate finance group at Fitch Ratings, New York, agreed the underfunded status &ldquo;has been well known for some time&rdquo; and that it will not hold up the IPO, but he added that the economy is in a longer-term period of low yields, which will pose challenges for companies achieving their assumed rates of return.</p>
<p>&ldquo;Almost certainly a higher level of contributions will be required to close those underfunded positions,&rdquo; Mr. Oline said in a telephone interview.</p>
<p>He said securities holders in GM, in equities and fixed income, &ldquo;will be focused on the extent of those claims on cash flow.&rdquo;</p>
<p>Mr. Oline said prior to filing for Chapter 11 reorganization and bankruptcy protection on June 1, 2009, GM did a &ldquo;fairly impressive job&rdquo; of managing its pension funds, increasing its fixed-income exposure to its U.S. plans to 57% by Dec. 31, 2008, from 32% in 2006.</p>
<p>&ldquo;It experienced some capital gains, while the equity side experienced losses,&rdquo; he said.</p>
<p>Mr. Oline said while GM&#8217;s funded status is better than some other corporate and public plans, the $26.3 billion liability is the issue.</p>
<p>&ldquo;In absolute dollars that represents a material level of cash contribution required to close the gap,&rdquo; he said.</p>
<p>In its IPO filing, GM noted that &ldquo;as of June 30, 2010, we have no expected material mandatory pension contribution until 2014.&rdquo;</p>
<p>Federal filings show GM plans to contribute $95 million to its U .S. plans in 2010 and $355 million to its non-U.S. plans.</p>
<p>Despite the company&#8217;s troubled history, Morningstar&#8217;s Mr. Whiston gave a positive outlook for the GM IPO.</p>
<p>His report on GM from June 7 said establishment of a voluntary employees beneficiary association for members of the United Auto Workers earlier this year was the most critical cost-savings measure the company undertook during its Chapter 11 proceedings.</p>
<p>Before the VEBA, GM paid an average of roughly $80 per hour per worker in salary and benefits, Mr. Whiston said in an interview. Foreign automakers, by contrast, pay about $45 to $50 per hour, he said.</p>
<p>&ldquo;That gap was getting bigger and bigger because of the health-care costs,&rdquo; Mr. Whiston said.</p>
<p>Post-VEBA, GM dropped its per-worker costs by roughly $20, he said.</p>
<p>Mr. Whiston said in the report that the VEBA is projected to save GM about $3 billion a year &ldquo;and other wage and benefit concessions have drastically lowered (General Motors North America&#8217;s) break-even point.&rdquo;</p>
<p>GM&#8217;s IPO states that U.S. industry sales must range from 10.5 million to 11 million vehicles for GM North America to break even.</p>
<p>&ldquo;We think the normative demand for U.S. light-vehicles is 14 (million) to 16 million units, so we expect GM to be printing money as vehicle demand comes back over the next few years,&rdquo; Mr. Whiston said in the report.</p>
<p>Potential investors in GM&#8217;s IPO, meanwhile, will be looking at whether GM can regain market share, said Linda Killian, principal of Greenwich, Conn.-based Renaissance Capital LLC.</p>
<p>&ldquo;In the prospectus, it did not have a price range in it. It didn&#8217;t have how many shares. It&#8217;s too early to say whether you should be buying it. The issue is if you believe the GM story and that we&#8217;re at the bottom of the cycle. If you want to have exposure in the auto space, then it becomes an issue of valuation,&rdquo; Ms. Killian said.</p>
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		<title>Firm to brief workers on GM plant takeover offer</title>
		<link>http://www.1853chairman.com/2010/08/29/firm-to-brief-workers-on-gm-plant-takeover-offer/</link>
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		<pubDate>Sun, 29 Aug 2010 15:15:23 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[August 27, 2010 http://detnews.com/article/20100827/AUTO01/8270443 Firm to brief workers on GM plant takeover offer ASSOCIATED PRESS Indianapolis &#8212; A company that hopes to buy General Motors Co.&#8217;s stamping plant in Indianapolis plans to brief workers on its contract proposal Sunday. Signs announcing the meeting went up Friday at the plant. Addison, Ill.-based JD Norman Industries has [...]]]></description>
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<td align="right"><font size="1" face="verdana,arial">http://detnews.com/article/20100827/AUTO01/8270443</font></td>
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<p><font size="6" face="Times New Roman, serif">Firm to brief workers on GM plant takeover offer</font><font size="1"><br />
</font><font size="2" face="Times New Roman, serif"><i><br />
ASSOCIATED PRESS</i> </font></p>
<p><i>Indianapolis</i> &#8212; A company that hopes to buy General Motors Co.&#8217;s stamping plant in Indianapolis plans to brief workers on its contract proposal Sunday.</p>
<p>Signs announcing the meeting went up Friday at the plant.</p>
<p>Addison, Ill.-based JD Norman Industries has asked for wage and benefit cuts as a condition of the purchase.</p>
<p>Union leaders have said Norman&#8217;s offer cuts base wages of $29 an hour nearly in half. They say they&#8217;d rather let GM close the plant next year as scheduled and exercise their contract rights to transfer to another GM plant.</p>
<p>Company President Justin Norman says wages would vary by seniority and job description and that 40 percent of workers would earn more than $24 an hour.</p>
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		<title>UAW head says auto workers should share in industry ‘upside&#8217;</title>
		<link>http://www.1853chairman.com/2010/08/29/uaw-head-says-auto-workers-should-share-in-industry-%e2%80%98upside/</link>
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		<pubDate>Sun, 29 Aug 2010 15:11:08 +0000</pubDate>
		<dc:creator>ironman</dc:creator>
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		<description><![CDATA[&#160; UAW head says auto workers should share in industry &#8216;upside&#8217; Automotive News &#124; August 27, 2010 &#8211; 5:54 pm EST &#160; (Bloomberg) &#8212; United Auto Workers President Bob King said workers&#8217; concessions helped save U.S. automakers and the employees should regain some benefits now that the industry is recovering. &#8220;We want workers to share [...]]]></description>
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<h1>UAW head says auto workers should share in industry &lsquo;upside&#8217;</h1>
<p>            </span><span class="gray"><br />
            Automotive News | August 27, 2010 &#8211; 5:54 pm EST</span></p>
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<td><span class="an_body1">(Bloomberg) &#8212; United Auto Workers President Bob King said workers&#8217; concessions helped save U.S. automakers and the employees should regain some benefits now that the industry is recovering.</p>
<p>            &ldquo;We want workers to share in the upside just like they did in the downside,&rdquo; King, 64, told reporters today outside the gates of a Ford Motor Co. factory in Wayne, Mich. &ldquo;Workers made a lot of sacrifices to help the industry survive.&rdquo;</p>
<p>            King was elected president in June, succeeding Ron Gettelfinger, 66, who helped persuade President Barack Obama to organize rescues of General Motors Co. and Chrysler Group LLC last year. Workers have called for King to restore the wages and benefits they gave up to bolster the industry. Membership in the union has fallen to 355,000 from 1.5 million in 1979.</p>
<p>            UAW members who work for U.S. automakers have each given $7,000 to $30,000 in concessions in the past five years, King has said. The union surrendered raises, bonuses and cost-of- living adjustments at GM, Ford and Chrysler. It also agreed to a two-tier wage system in which new hires earn about $14 an hour, half the amount paid to hourly production workers.</p>
<p>            The union&#8217;s current contract with GM, Ford and Chrysler expires next year.</p>
<p>            The government should enact economic-stimulus measures that would put people back to work, King said.</p>
<p>            Auto sales &ldquo;are not going as well as they should,&rdquo; King said. &ldquo;Consumers are not going to buy vehicles if they don&#8217;t have jobs or aren&#8217;t confident in their job.&rdquo;</p>
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<div class="box_article"><a class="gray" onclick="javascript:window.open('/apps/pbcs.dll/misc?url=/misc/zoom.pbs&amp;Site=CA&amp;Date=20100827&amp;Category=OEM01&amp;ArtNo=100829881&amp;Ref=AR&amp;Profile=1179','larger', 'width=620,height=600, left=200, top=200, scrollbars=yes,resizable=yes,status=yes,toolbar=no,menubar=no,location=no');" href="javascript:var n=1" border="0"><img border="0" src="http://www.1853chairman.com/apps/pbcsi.dll/storyimage/CA/20100827/OEM01/100829881/AR-100829881.jpg?ref=AR&amp;q=80&amp;MaxW=250" alt="" /></p>
<div align="right"><strong>ENLARGE</strong></div>
<p>            </a></p>
<div class="article_photo_cap">&ldquo;We want workers to share in the upside just like they did in the downside,&rdquo; UAW President Bob King said today.<br />
            &nbsp;</div>
</p></div>
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