TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| DryShips' Dark Days Shipper announces grim Q4 earnings, but its CEO remains optimistic. forbes.com |
What Will Happen When Government and Unions Get a Piece of GM Tom Lindmark submits:The battle between GM (GM) and the UAW over where the company’s cars are going to be built drags on. In a previous post I noted that GM was considering importing a number of cars it manufactures in China which was royally ticking off the union. Things still appear to be rocky.The NYT reports that the company and the union are still engaged in negotiations over the extent of plant closings, permanent layoffs and the importation of cars from Asia, Mexico and other low wage countries. GM argues that this is the road that will get it back to profitability and the union naturally resents it being done on the backs of its members.Complete Story » seekingalpha.com |
GM Stock Is Trading Above $1 Because of the Shorts Gerry Sullivan submits: There are still many millions of shares short on [[GMGMQ.PK]]. Today GMGMQ is trading at $1.16 in the pre market.Complete Story » seekingalpha.com |
Nissan, Chrysler Deal Suspended TheCarConnection.com submits: The product-sharing deal that would have brought new trucks to Nissan (NSANY) and new small cars to Chrysler has been terminated.The end of the deal made in January 2008 was announced yesterday in a brief release issued by both companies. By the terms of the deal, Chrysler was to supply Nissan with a full-sized truck based on its Ram pickup. That vehicle would have replaced Nissan's next-generation Titan, starting in 2011.Complete Story » seekingalpha.com |
Ford UAW Talk Faces Opposition Zacks.com submits: Ford’s (F) talk with United Auto Workers (UAW) on modifications to its 2007 labor contract has taken an unpalatable turn, as some members of the union have declined to ratify the changes. Gary Walkowicz – a member of the bargaining committee at the Dearborn Truck Plant in Michigan – and six other plant leaders had signed a letter to employees urging them to vote against the agreement as it would require too many concessions and would limit the workers' right to strike. Ford's 41,000 UAW members have started voting this week, which is expected to end by Nov 2. The ratification agreement, which would run till 2011, would have helped Ford end its cost disadvantage. The company was upset with its higher labor costs compared to its Detroit rivals, General Motors and Chrysler. Both of its rivals were given concessions by UAW as they headed into bankruptcy protection earlier this year. Thus, Ford intends to lower its labor costs to match its rivals.Complete Story » seekingalpha.com |