Ford Agreement Aims to Match Foreign Auto Labor Costs
Ford says modifications to the 2007 UAW contract cut costs and align labor spending with foreign transplants, targeting 55 dollars per hour by year end. Concessions pass, but some locals reject. Savings include reduced bonuses, health-benefit changes, and retiree trust shifts. a buyout offer is planned for hourly workers. Wayne Assembly and Michigan Truck retooling to produce smaller vehicles.
MENTIONED IN THIS ARTICLE
Detroit
Ford Motor Co
United Auto Workers Union
United States
Ford
U.S
UAW
Joe Hinrichs
Hinrichs
Dearborn
Ohio
Michigan
Avon Lake
Jobs Bank
Wayne Assembly
Michigan Truck
Wayne
Mich
GM and Chrysler workers weigh buyouts amid auto aid
GM and Chrysler workers face a two week choice between staying to endure layoffs or taking cash to exit. Government loan terms drive concessions with the UAW as Obama task force may trigger restructuring. Company talks aim to cut costs and avoid bankruptcy though details remain undisclosed.
MENTIONED IN THIS ARTICLE
Detroit
General Motors
Chrysler
United Auto Workers
General Motors Corp
Chrysler LLC
Auto Task Force
UAW
Madoff to plead guilty in massive Ponzi scheme case
In Manhattan court Bernard Madoff admitted plans to plead guilty to 11 counts including securities fraud and perjury as investors await a plea acceptance ruling. Attorney Ira Sorkin said a guilty plea is anticipated while Jerry Reisman warned the hearing could become a zoo due to outraged victims seeking a voice.
MENTIONED IN THIS ARTICLE
New York
Bernard Madoff
U.S
U.S. District Court
Manhattan
Madoff
Nasdaq
Ira Sorkin
Denny Chin
Sorkin
Chin
Jerry Reisman
Obama Geithner urge global action to fight recession
The Obama administration pressed major allies to boost stimulus and coordinate policy as the global recession deepens. Timothy Geithner outlined a plan including raising the IMF emergency fund to 500 billion dollars, while Obama urged concerted action and regulatory reform at the April G-20 summit.
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Washington
Obama
U.S
United States
Treasury
Timothy Geithner
International Monetary Fund
Barack Obama
Oval Office
Geithner
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Nutcre
Dirxfinb
GenElec
FifthThird
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Apple Inc
Newscpa
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UNE
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LearCorp
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Lowes NY SB
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Nsouce NY
Oixlcbull
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