| 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 |
Rockwell Collins FQ1 2010 (Quarter ending 12/31/2009) Earnings Conference Call Transcript Rockwell Collins Inc. (COL)FQ210 Earnings CallJanuary 28, 2010 11:00 AM ETComplete Story » seekingalpha.com |
FedEx Earnings Help Buoy Global GNP 30 Carl T. Delfeld submits: FedEx (FDX), a constituent of the Global GNP 30 portfolio, buoyed markets and strengthened the case for a full blown global recovery after it reported this past week that quarterly profit more than doubled, with strong Asian export volumes more than compensating for flat domestic demand.Led by exports from Asia, FedEx reported an 18 percent jump in volume from its International Priority business. But average daily domestic package volume rose just 1 percent, reflecting the weak American economy. FedEx raised its 2010 earnings forecast to a range of $3.60 to $3.80 a share from a previous outlook of $3.45 to $3.75. Analysts on average expected $3.64, according to Thomson Reuters.Complete Story » seekingalpha.com |
Ford Charges Up With Compact Power Batteries TechCrunch submits: By Matylda CzarneckaFord‘s 2011 Focus Electric will run on Compact Power Inc.’s lithium-ion battery, the company announced today. The batteries will initially be made in South Korea at CPI’s parent company, LG Chem, with plans to start manufacturing at a new $300 million site in Holland, Mich. in 2012.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 |