General Motors

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Local UAW Leaders OK GM Agreement
Local UAW Leaders OK GM Agreement
Sep 28, 2007 3:37 PM CDT

Local UAW Leaders OK GM Agreement

Health-care trust, signing bonus details disclosed

(Newser) - United Auto Workers local leaders unanimously approved an agreement with General Motors today, setting the stage for a vote of members next week. The contract specifies that GM will inject $29.9 billion into a union-run trust that will assume health care costs, and continue to pay retiree health-care costs...

GM Pact Marks Health Care Upheaval
GM Pact Marks Health Care Upheaval
Sep 27, 2007 4:40 AM CDT

GM Pact Marks Health Care Upheaval

In seismic shift, more firms 'offloading' insurance costs

(Newser) - The agreement that ended the GM strike this week marks a major turning point for American industrial workers, as the fiscal management of retiree health care is shifted from employer to union. The move is part of a trend as companies seeking to be competitive "offload" health care obligations...

Stocks Rise on Buffett Rumor
Stocks Rise on Buffett Rumor
Sep 26, 2007 3:46 PM CDT

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You...

GM, UAW Deal Is Turning Point for Detroit

Deflects retiree healthcare costs, will buy out some workers

(Newser) - The agreement General Motors and the UAW reached early this morning, after a 2-day walkout, could make a significant difference in Detroit's long, losing battle with foreign competitors who enjoy lower labor costs, the Wall Street Journal reports. GM successfully offloaded spiraling medical costs by forming a union-controlled trust, and...

GM, Union Strike Tentative Deal
GM, Union Strike Tentative Deal
Sep 26, 2007 3:28 AM CDT

GM, Union Strike Tentative Deal

Workers back on job as both sides agree to health pact

(Newser) - General Motors and the United Auto Workers have struck a contract deal that sent striking union members back to the job today, reports the Detroit Free Press. The late-night agreement includes GM's plan for a health program, which was the major sticking point in earlier negotiations.

GM Strike Goes Into Day 2; Talks Continue

Union seeks jobs guarantees in exchange for health-care changes

(Newser) - Bargaining resumed just hours after United Auto Workers walked off the job at GM plants yesterday morning, suggesting that  both sides in the stalled negotiations know they can't afford a prolonged work stoppage, Bloomberg reports. GM is losing output of 12,200 cars a day, a figure that will spike...

Stocks Down, Led by Financials
Stocks Down, Led by Financials
Sep 24, 2007 3:44 PM CDT

Stocks Down, Led by Financials

Financial and energy companies led the way

(Newser) - The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all...

GM, Union Tangle Over Health Care, Labor Costs

Strike highlights rift; negotiations resume

(Newser) - At the root of the UAW's strike against GM's US factories is a fundamental conflict between management's need to cut costs and the union's resistance to offering more givebacks, Bloomberg reports. Negotiations resumed this afternoon between GM, which lost $12.4 billion last year, and the UAW, which represents 73,...

UAW Goes on Strike Against GM
UAW Goes on Strike Against GM
Sep 24, 2007 11:32 AM CDT

UAW Goes on Strike Against GM

Nationwide walkout follows 10 days of talks; negotiations continue

(Newser) - Unionized employees at GM plants across the country walked off the job today after their 11am strike deadline passed without an agreement. The UAW said it had done “everything possible to negotiate a new contract,” including bargaining for 10 days after the initial deadline. GM stock rose this...

UAW Sets 11am Deadline for GM Talks
UAW Sets 11am Deadline for GM Talks
Sep 24, 2007 6:27 AM CDT

UAW Sets 11am Deadline for GM Talks

Union amps up strike talk as sides are said to be close on historic deal

(Newser) - The United Auto Workers have turned up the pressure on contract talks with General Motors by setting a deadline of 11am ET today. The key issue of shifting health care costs to a union-run trust is said to have been settled, but other points remained unresolved yesterday. Still under discussion...

Historic Deal in Sight for GM and UAW

Agreement reached on shifting health costs to union-run trust

(Newser) - After bogging down for several days, talks between General Motors and the UAW got back on track yesterday as automaker and union reps closed in on a historic agreement to shift health-care costs to a union-controlled trust, the Wall Street Journal reports. The two sides are said to have a...

GM and UAW Hit Impasse on Health Care

Talks stalled on funding of union-run trust for medical costs

(Newser) - General Motors has reached an impasse with the UAW on the transfer of health care liabilities to a union-run trust, a serious blow to the company's plans for rejuvenation. Five days into contract talks, negotiators could not agree on the amount GM would pay into the fund, reports Bloomberg, and...

CA Tosses Global Warming Suit v. Automakers

Judge dismisses California's charges against carmakers

(Newser) - A federal judge has thrown out California's attempt to hold automakers liable for the environmental implications of vehicle emissions, the LA Times reports. The judge who rejected the much-watched lawsuit Monday called global warming a "political question" for legislators, rather than courts. The suit had blamed carmakers for Sierra...

GM Talks Resume With Optimism
GM Talks Resume With Optimism
Sep 17, 2007 12:42 PM CDT

GM Talks Resume With Optimism

Marathon yesterday yielded progress on financing for health-care trust

(Newser) - Talks between GM and UAW reps resumed late this morning after a 16-hour session that ran to 3am and came close to an agreement on the key issue of shifting heath-care costs to a union-run trust.  Both sides confirmed good progress, and employees are on the job today, despite...

Still No Agreement in GM-UAW Talks
Still No Agreement in GM-UAW Talks
Sep 16, 2007 5:07 PM CDT

Still No Agreement in GM-UAW Talks

Strike appears remote as GM employees ready for work tomorrow

(Newser) - Tense talks continued between GM and workers today as outside parties were greeted with unusual silence, the Wall Street Journal reports. "I haven't heard much of anything and that's completely different" than before, says a union rep. Still at issue is a health care fund for retirees and how...

GM, UAW Still at the Table
GM, UAW Still at the Table
Sep 15, 2007 5:24 PM CDT

GM, UAW Still at the Table

Deal unlikely to be reached today

(Newser) - GM is back at the bargaining table with UAW reps today, but  agreement on the billion-dollar issues is not imminent, the AP reports. The UAW is said to be seeking job guarantees at US plants in exchange for agreeing to take over union members' health care liabilities via a trust...

GM, UAW Talk Past Deadline
GM, UAW Talk Past Deadline
Sep 15, 2007 6:05 AM CDT

GM, UAW Talk Past Deadline

Contracts renewed on hourly basis

(Newser) - The United Auto Workers and General Motors talked four hours past their midnight deadline for contract negotiations before agreeing to resume bargaining later today. They extended talks on an "hour-to-hour" basis on a deal that would include a union-controlled trust to assume GM's $50-billion liability for retiree health care....

UAW Targets GM on Contract
UAW Targets GM on Contract
Sep 14, 2007 8:25 AM CDT

UAW Targets GM on Contract

Car giant chosen as lead company in crucial talks

(Newser) - The United Auto Workers have chosen General Motors to be the lead company in negotiations on contracts set to expire tonight, adding pressure to strike a deal the UAW will then try to impose on Ford and Chrysler. The union chose GM because it's in the best financial shape of...

Market Rallies on Corporate Gains, Labor News

GM, McDonald's bolster stocks

(Newser) - US stocks rallied today, with blue chips and Countrywide Financial at the helm. A General Motors' analyst upgrade and  a higher-than-anticipated dividend at McDonald's helped drive the Dow up 133.23 points, to 13,424.88. Countrywide rose 14% on news that the battered lender has lined up $12 billion...

McDonalds Supersizes Indexes
McDonalds Supersizes Indexes
Sep 11, 2007 4:33 PM CDT

McDonalds Supersizes Indexes

Blue-chip stocks drive rally, as investors look for safe names

(Newser) - It was a Big Mac Attack on Wall Street today, as the fast food giant’s strong August numbers gave investors hope in consumer spending, leading a rally that left all major indexes up over 1%. GM was also a winner, rising 4% on positive labor news. Analysts say investors...

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