| 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 |
Ford's European Sales Jump Zacks.com submits: Ford Motor Co’s (F) auto sales in Europe’s 19 core markets have leaped 19.8% to 113,100 vehicles in November. This has resulted in a year-to-date market share of 9.1% for the company, the highest since 1999.The sales included a registration of 99,800 Ford cars, also the highest since Nov. '99. The automaker’s market share in the month went up in 14 out of 19 European markets. However, its market share across the 19 core markets declined by 0.1 percentage points to 8.7% compared to last year.Complete Story » seekingalpha.com |
As China Leads High Speed Rail, Challenge Is in the Price Tag John Addison submits:Clean Edge’s 2010 Clean Energy Trends forecasts growth for high-speed rail and renewables. Clean Edge included high-speed rail [HSR] for the first time in its annual Clean Energy Trends report, which tracks key developments in clean-energy markets. China is leading the surge in HSR according to Clean Edge:China’s Ministry of Railways spent $88 billion on HSR projects in 2009 – part of an existing $300 billion plan to expand and connect all of the country’s major cities with a projected 10,000 miles of dedicated HSR lines by 2020.Complete Story » seekingalpha.com |
It’s Vacation Season: Some ETFs to Lay Back With Tom Lydon submits: Traveling abroad used to be the choice for many people taking a well-earned vacation, but in this economy, things have changed. Nevertheless, the leisure industry is slowly taking on more vacationers and the leisure related ETF is reflecting the improvements in the industry.According to a recent survey of travel agents, the top 10 destinations for American travelers this year are all in the United States, writes Carl Kopp for Minyanville. Top destinations include Orlando, Las Vegas and other big cities that offer plenty to do.Complete Story » seekingalpha.com |
August Auto Sales Worst in 27 Years Tim Iacono submits: Yesterday, automakers in the U.S. reported the worst sales since 1983 and not even the ongoing troubles at Toyota (TM) seem to have been able to cushion the fall, the graphic below from this story at CNN/Money offering a reminder of how much the “Cash for Clunkers” program boosted sales last year. Industry sales also fell 5% from July levels. August sales typically outpace July, as deals become available on older models ahead of the fall introduction of new model year cars. August sales would equate to an annual sales pace of about 11.5 million vehicles.Complete Story » seekingalpha.com |