March 23 at 6:06 a.m.
Filed under:
Autos,
Labor,
Unions
By CNN
Alan Mulally, CEO of Ford Motor Co., presenting the new Ford Sync system in Germany earlier this month. (Gallup/Getty)
United Auto Workers President Bob King went on the attack at the lucrative pay package of the Ford Motor CEO, saying it was ‘morally wrong’ that Mulally received stock worth about $54.5 million from the company.
“I think Alan Mulally is a great CEO, but I don’t think any human being in the world deserves that much money. I think it’s outrageous,“ said King, speaking to reporters during a three-day union convention in Detroit. King’s remarks come as the union prepares for the first set of labor negotiations with U.S. automakers since the bankruptcies at General Motors and Chrysler Group. Get the full story »
March 7 at 6:15 a.m.
Filed under:
Construction,
Labor,
Unions
By Associated Press
The UAW says a majority of members at Caterpillar approved the new six-year contract in voting Sunday. The union did not provide specific numbers on how members voted. Get the full story »
March 1 at 7:31 a.m.
Filed under:
Consulting,
Labor,
Manufacturing,
Unions
From the Rockford Register-Star | United Auto Workers representatives said the union has reached a tentative labor agreement with Caterpillar Inc., averting a possible walkout. The UAW says the new, six-year tentative agreement was reached Monday night and will be presented for a ratification vote next weekend.
The agreement would cover some 9,500 hourly production and maintenance workers in Peoria, Aurora, Decatur and Pontiac in Illinois as well as in York, Pa.; Denver; and Memphis, Tenn. | Get the full story>>
Feb. 11 at 6:15 a.m.
Filed under:
Autos
By Associated Press
Most of the 26,000 white-collar workers at General Motors Co. will get performance bonuses of 4 to 16 percent of their base salaries this year, but payments to a small number could be 50 percent or more, the company confirmed late Thursday.
Chrysler Group LLC also will give bonuses to its white-collar staff, with payments expected on Friday. Both companies needed government bailouts in 2008 and 2009 to stay in business and make it through bankruptcy protection. Get the full story »
Jan. 31 at 11:52 a.m.
Filed under:
Labor,
Manufacturing,
Unions,
Updated
By Dow Jones Newswires
Union workers at Caterpillar Inc. voted by a 94 percent majority to stage a strike against the company should a new contract not be drawn up by March 1, when the existing agreement expires, Illinois’s Peoria Journal Star reported on its website Sunday.
The vote involved union members at seven locals in Illinois, Colorado, Tennessee and Pennsylvania, according to the report. Get the full story »
Jan. 18 at 9:29 a.m.
Filed under:
Autos,
Labor
By Michael Oneal
United Auto Workers President Bob King dialed up the rhetoric this week in his campaign to organize foreign-owned auto plants based in the U.S.
Speaking at the first day of the UAW’s legislative conference in Washington, D.C., King vowed to step up the union’s effort to organize the transplants owned by companies including Toyota, Honda and Nissan and said the union’s future depended on expanding its membership. Get the full story »
Jan. 14 at 7:25 a.m.
Filed under:
Autos,
Labor,
Unions
By Associated Press
General Motors Co. has completed the contribution of 60.6 million shares of its stock to its U.S. hourly and salaried pension plans, wrapping up the last part of its planned $6 billion in payment. Get the full story »
Jan. 12 at 7:34 a.m.
Filed under:
Autos,
Labor,
Unions
By Dow Jones Newswires-Wall Street Journal
General Motors Co. wants pay for union-represented workers be tied to employees’ work performance and the company’s financial health — much like the way its salaried workers are paid — in what would be a major shift in how generations of auto workers have been compensated.
“They are trying to give hourly workers the same metrics as salaried workers,” GM Vice Chairman Stephen Girsky said Tuesday at the Detroit auto show. “There is a big pay-for-performance element going through the company and there is going to be more of it.” Get the full story »
Dec. 17, 2010 at 2:16 p.m.
Filed under:
Autos,
Construction,
Labor,
Unions
By Associated Press
Negotiators for Caterpillar Inc. and the United Auto Workers are taking a break for the holidays and plan to resume talks on a contract on Jan. 11. The contract covers about 9,500 workers at a number of sites around Illinois and in three other states. Get the full story »
Oct. 26, 2010 at 6:32 a.m.
Filed under:
Autos,
M&A
By Reuters
Ford Motor Co. posted a $1.7 billion quarterly profit Tuesday that exceeded Wall Street expectations and said it expected to eliminate a net debt position in its automotive business by year-end. Get the full story »
Oct. 18, 2010 at 8:47 a.m.
Filed under:
Autos,
Labor,
Unions
By Dow Jones Newswires
Commercial truck maker Navistar International Corp. and the United Auto Workers Union have reached a tentative agreement on a four-year contract, the company said.
No details of the deal reached late Saturday were released by the company or the union. The agreement is subject to a ratification vote by union members at six Navistar sites. A majority of the members voting on the tentative contract must approve it for the deal to become binding. Get the full story »
Aug. 18, 2010 at 8:33 a.m.
Filed under:
Autos,
Bankruptcy,
IPOs,
Unions
By Reuters
General Motors Co. will list its shares on the New York Stock Exchange and Toronto Stock Exchange after its initial public offering, a source familiar with the situation said on Wednesday. The IPO, intended to repay a portion of the automaker’s government bailout, has been dubbed “Project Dawn,” the source said. Get the full story »
Aug. 16, 2010 at 6:19 a.m.
Filed under:
Autos,
Labor,
Unions
By Associated Press
The United Auto Workers union has decided not to go ahead with a vote on a new wage-cutting contract for a General Motors Co. stamping plant in Indianapolis facing sale.
JD Norman Industries of Addison, Ill., had asked for pay cuts as a condition for buying the plant. Barring a sale, GM has said it will close the plant next year. Get the full story »
July 23, 2010 at 5:48 a.m.
Filed under:
Autos,
IPOs,
Labor,
Unions
By Reuters
General Motors Co. plans to file its registration for an initial public offering during the week of Aug. 16, just after the expected date for its second quarter results, according to two people with direct knowledge of the preparations.
A GM filing with the U.S. Securities and Exchange Commission would be the first step toward an IPO to reduce the U.S. government’s ownership in the automaker after a $50 billion bailout in 2009. Get the full story »
June 24, 2010 at 6:06 a.m.
Filed under:
Autos,
Labor,
Unions
By Reuters
The new head of the United Auto Workers Wednesday provided an early glimpse of the campaign he plans to wage to unionize the U.S. plants of Asian automakers like Toyota Motor Corp. In an interview with Reuters, Bob King, who vowed to “pound Toyota” when he was elected UAW president last week, said theeffort will involve a big public relations component and not rely solely on the old-fashioned organizing pushes that have proved so unsuccessful with the transplants in the past. Get the full story »
