Chrysler Vice Chairman Jim Press reiterated the need for government aid to help support the auto industry as he travels to hearings in Washington, D.C.
At his news conference this morning, where he introduced New Mexico Gov. Bill Richardson as Commerce-secretary designate, President-elect Obama refused to play his hand on the Detroit/GM bailout story. That tells me he’s aware that the country is getting fed up with the thought of bailout nation.
Call this the start of the Big 3 becoming the smaller 3. Starting tomorrow and playing out over the course of the next week Detroit's auto makers will be telling Congress how they plan to get back in the black.
Despite its overall troubles, General Motors appears to have enough money in its pension fund to last a decade or more, the New York Times reports.
The idea of a guild striking in this economic environment seems odd, to say the least. Doesn't everyone have more to lose? In Hollywood, after months of a standoff, an actors' strike seems more possible than ever.
Have you been listening to political leaders talk about what it will take for the Detroit 3 and the UAW to get Washington to sign off on a bailout for the industry? If so, you've heard several key words and phrases used to describe what the auto makers need to do.
General Motors will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent.
Events move much faster than individual corporations, unions, and governments can act. However, they all are finding ways to adjust. While I expect the learning curve to remain steep, the knowledge is getting processed and acted upon
With the financial markets in crisis it's easy to forget that the Screen Actors guild has been working without a contract since their deal with the AMPTP, the producers association, expired this summer.
This Sunday the Screen Actors Guild's board of directors agreed to ask a federal mediator help with negotiations with the film and TV studios, which could get the producers guild (the AMPTP) and SAG to sit down for their first formal talks since their contract expired on June 30.
As discussions between GM and Chrysler heat up, there's a steady flow of questions about road blocks that could stop this merger of American auto giants. Any other time, I'd agree with some of the points being raised. But given the economy and the weakened state of the auto industry, I think few of these are going to stop GM from acquiring Chrysler- IF the country's largest automaker decides it wants this deal.
As I watch the markets tumble and I hear talk not just of recession, but of depression, I have to wonder whether there's any chance 75 percent of SAG members would vote to strike, which is what it takes to get authorization.
But it's not just this company that's being affected. Here are five other stocks to avoid until the airplane-maker's done with its labor problems.
Rising fuel and food costs, the threat of job losses and disputes over pensions and pay are just some of the factors that sparked thousands of disgruntled workers to take action this summer.
The board of directors at General Motors remains supportive of Chief Executive Rick Wagoner, despite the company's recent, unexpected $15.5 billion loss, the Wall Street Journal reported Tuesday.
Oil workers at Brazil's state-run energy company will remain on strike for two more days after failing to reach agreement in talks with Petrobras, a union spokesman said on Wednesday.
Oil workers in Brazil started a 5-day strike on Monday but state-run energy company Petrobras said it had already reversed most of the production losses on its platforms.
Today at 2 pm pacific the Screen Actors Guild and the AMPTP (the producers association) are meeting to discuss the "Last Best Offer" the AMPTP made hours before SAG's contract expired at 12:01 Tuesday morning.
Hollywood is looking at another intense third act; the tough guys are pulling out the big guns. The Screen Actors Guild is the last of the entertainment industry's guilds to renegotiate its contract, and let's just say, it's not looking like a fairytale ending.
Hours before their contract with film and TV performers was due to expire, Hollywood studios on Monday capped weeks of stalemated labor talks by presenting the Screen Actors Guild a "final offer."