bankruptcy
The UAW is walking a few tightropes right now, and it can't afford to fall off of any of them. In talks with bankrupt auto supplier Delphi Corp. and its private equity partners, at stake for the UAW i ... Tags: gm, detroit news, wages, delphi, proposals, stake, restructuring, big three automakers, uaw, concessions, auto supplier, bankruptcy, labor agreements, delphi corp, cerberus, private equity companies, private equity partners, thick plot, legacy issues, tightropes
Hourly workers at two Tower Automotive plants have voted to accept pay cuts that will ensure their plants remain open as the supplier struggles to emerge from bankruptcy. Tower had asked a judge for t ... Tags: plants, detroit free press, united auto workers, bankruptcy, union members, uaw members, tower automotive, union contracts, clinton township michigan, bluffton ohio, steelworkers of america, united steelworkers of america, elkton michigan, hourly wages, wage reductions, contract extension, usw
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The collapse of MG Rover was an expensive affair for the British government and its people. A report published by the country's Public Accounts Committee says that the decline of MG Rover between 2000 ... Tags: automaker, england, decline, 1 billion, mg rover, new jobs, 5 million, collapse, bankruptcy, british government, longbridge, creditors, pension protection fund, public accounts committee, kick in the head, defunct company, tax payers
We know, June is a little late to be releasing your annual report for the prior year, but Delphi was forced to wait until discussions with GM and its own unions concerning wage and benefit reductions ... Tags: job, gm, federal government, delphi, detroit free press, ceo, losses, fourth quarter, attrition, early retirement, raw materials, unions, bankruptcy, buyouts, steve miller, government source, gm workers, benefit reductions, annual report
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Adding another layer to the Delphi drama this week, the company's creditors went to court asking that the company be allowed to cancel its established supply contracts with GM, supporting Delphi's req ... Tags: gm, automaker, wages, delphi, legacy, yahoo, uaw, negotiations, sorts, bankruptcy, supply contracts, buyouts, restitution, august 15, august 11, delphi creditors, blackmail
Technorati Tags: gm, automaker, wages, delphi, legacy, yahoo, uaw, negotiations, sorts, bankruptcy, supply contracts, buyouts, restitution, august 15, august 11, delphi creditors, blackmail
Henry Reichart, the International Union of Electrical Workers-Communications Workers of America (IUE-CWA), and chief negotiator in the ongoing Delphi Corp. talks, has died. Early reports indicate that ... Tags: heart, sessions, reuters, delphi, nod, negotiations, troy michigan, gp, bankruptcy, delphi corp, iue cwa, laborers, communications workers of america, retirement incentive, chief negotiator, cwa union, incentive packages, reichart
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Delphi filed Tuesday with the courts for permission to void its union contracts as it struggles out of bankruptcy. For their part the unions have threatened to strike if the judge grants Delphi's requ ... Tags: economy, delphi, detroit free press, lawyers, negative impact, uaw, unions, bankruptcy, international truck and engine corp, union contracts, judge grants
Technorati Tags: economy, delphi, detroit free press, lawyers, negative impact, uaw, unions, bankruptcy, international truck and engine corp, union contracts, judge grants
Yesterday the price of GM stock was up $1.05 or 4.46 percent on news that Deutsche Bank analyst Rod Lache had raised his rating on the stock up to "hold" from "sell". Why the change of heart? Monday's ... Tags: gm, automaker, reuters, delphi, gm stock, change of heart, balance sheet, black ink, bankruptcy, health care, five quarter, percent change, losing streak, lache, deutsche bank
Technorati Tags: gm, automaker, reuters, delphi, gm stock, change of heart, balance sheet, black ink, bankruptcy, health care, five quarter, percent change, losing streak, lache, deutsche bank
Credit rating agency Moody's is said to be considering another downgrade of General Motors' debt rating, which is already languishing six levels below junk-bond level. The potential move is said to be ... Tags: gm, speculation, reuters, general motors, pledge, bankruptcy, assets, junk bond, 6b, three notches, finance arm, gmac finance, unsecured creditors, agency moody, credit rating agency
Technorati Tags: gm, speculation, reuters, general motors, pledge, bankruptcy, assets, junk bond, 6b, three notches, finance arm, gmac finance, unsecured creditors, agency moody, credit rating agency
Nissan Chief Executive Officer Carlos Ghosn may strike as an unconventional cheerleader for General Motors and Ford, but the celebrated turnaround artist has gone on record as saying that the struggle ... Tags: ford, nissan, forbes, general motors, competitor, chief executive officer, carlos ghosn, net profits, struggle, titans, american automakers, bankruptcy, domino effect, coffers, cheerleader, prey, carlos and co, turnaround artist, global efforts, issue one
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Toyota North American senior VP Dennis Cuneo said at a recent conference in Detroit, Michigan that automakers must cooperate more with their parts suppliers. In his declaration, he noted that 10 of To ... Tags: gm, toyota, automakers, ford, chrysler, disaster, general motors, vp, relationships, material costs, bankruptcy, fiasco, bankruptcies, cooperation, detroit michigan, best interest, dennis cuneo, chief advantages, domestic source
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Speaking at the New York Auto Show Wednesday, General Motors' vice chairman in charge of soundbites and global product development, Bob Lutz, said that "Bankruptcy is totally out of the question. ... Tags: gm, bob lutz, reuters, decline, delphi, general motors, turnaround, vice chairman, restructuring, market share, s market, new york auto, new york auto show, endorsement, mid 20, bankruptcy, global product, crystal ball, soundbites, right man
Technorati Tags: gm, bob lutz, reuters, decline, delphi, general motors, turnaround, vice chairman, restructuring, market share, s market, new york auto, new york auto show, endorsement, mid 20, bankruptcy, global product, crystal ball, soundbites, right man
Ford Motor Company’s Chairman and CEO Bill Ford is ruling out bankruptcy for the Blue Oval. The Henry Ford scion believes that the company’s ‘strong liquidity’ ($31 billion in ... Tags: scion, automaker, ford motor, ford motor company, bill ford, newsday, henry ford, market share, lips, fortunes, bankruptcy, downsizing, nyse, overseas operations, coffers, american auto industry, 6b, liquidity, blue oval ford, unprecedented challenges
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Standard & Poor's says that GM may rebound from an $8.6 billion loss in 2005 to turn a profit for 2006. My, my, the empire truly does strike back -- if the automaker can sell off its GMAC unit and ... Tags: gm, gmc yukon, gmc, gas prices, automaker, cadillac, amp, delphi, general motors, cadillac escalade, gmc yukon xl, yukon xl, gmac, chevy suburban, uaw, initial sales, empire, bankruptcy, union negotiations, american competitors
Technorati Tags: gm, gmc yukon, gmc, gas prices, automaker, cadillac, amp, delphi, general motors, cadillac escalade, gmc yukon xl, yukon xl, gmac, chevy suburban, uaw, initial sales, empire, bankruptcy, union negotiations, american competitors
After declaring Chapter 11 for Dana Corporation's American operations just last week, the Tier-1 supplier had to run out and find themselves a chief financial officer, as Robert Richter retired two da ... Tags: american operations, mercury, managing director, jose mercury news, san jose mercury news, san jose mercury, bankruptcy, dana corp, cfo, dana corporation, chapter 11, financial advisory firm, robert richter, tier 1 supplier, hiltz, chief financial officer, consulting services
Electric automaker Think Nordic AS has apparently run out of juice for good. The former Ford property declared bankruptcy Tuesday after being unable to meet its payment and wage obligations. The Aursk ... Tags: ford, money, automaker, doors, ceo, car maker, electric car, shutters, prospects, bankruptcy, car manufacturer, liquidation, oslo, norway, christopher neal
Technorati Tags: ford, money, automaker, doors, ceo, car maker, electric car, shutters, prospects, bankruptcy, car manufacturer, liquidation, oslo, norway, christopher neal
Tier-1 automotive parts supplier Dana Corp. announced Monday that is discussing financing issues with banks and lenders, with hopes of coming up with a plan within a two-week timeframe. On this news, ... Tags: reuters, accounting, earnings, automotive parts, timeframe, last friday, banks, bankruptcy, dana corp, york stock exchange, new york stock, new york stock exchange, tier 1, last autumn, profit projections, stock shares, lenders
Technorati Tags: reuters, accounting, earnings, automotive parts, timeframe, last friday, banks, bankruptcy, dana corp, york stock exchange, new york stock, new york stock exchange, tier 1, last autumn, profit projections, stock shares, lenders
Nissan Motor plans to develop a new small car targeted at emerging markets in China, India and elsewhere, according to Reuters.The resurgent Japanese automaker, near bankruptcy as recently as 1999, pl ... Tags: small car, new car, reuters, suzuki, nissan, india, china, japanese automaker, target price, japanese domestic market, emerging markets, bankruptcy, nissan motor, minicars, moco
Technorati Tags: small car, new car, reuters, suzuki, nissan, india, china, japanese automaker, target price, japanese domestic market, emerging markets, bankruptcy, nissan motor, minicars, moco
The stock market has had a chance to digest GM's efforts to cut costs by slashing executive pay and shareholder dividends earlier this week, and it's reaching for the Pepto-Bismol. GM share prices fel ... Tags: gm, american operations, reuters, general motors, worth reading, fortune magazine, quot, stock market, profitability, concessions, auto workers union, united auto workers union, united auto workers, bankruptcy, current issue, shareholder, dividends, deutsche bank, share prices, pepto bismol
Technorati Tags: gm, american operations, reuters, general motors, worth reading, fortune magazine, quot, stock market, profitability, concessions, auto workers union, united auto workers union, united auto workers, bankruptcy, current issue, shareholder, dividends, deutsche bank, share prices, pepto bismol
If there's a single thing we can count on in the auto industry through these troubled times it's that UAW head Ron Gettelfinger will have something to say. Speaking about the bankruptcy of Delphi, he ... Tags: hybrids, auto industry, delphi, alternative fuels, pickup trucks, uaw, liar, tax breaks, tariffs, white house, bankruptcy, ron gettelfinger, uphill battle, chapter 11, tower automotive, union contracts, christmas card, single thing, troubled times, president of the united states
