The U.S. auto industry has been bottomed out since the fall of 2008; a fact that is reflected by the falling membership of the United Auto Workers. The Detroit Free Press reports that membership fell by 18 percent from 2008 to 2009, with current membership at 355,191 men and women. The job losses came courtesy of several plant closings around the country as domestic automakers struggled to right-size a footprint that was too big to sustain.
In yet another strange twist of fate to the whole Porsche buys Volkswagen buys Porsche saga, the Auto Union name could end up being revived as a name for a combined company. The two companies have reportedly come to terms on a value for what the car business of Porsche AG is worth and a deal could soon be consummated. The VW supervisory board is expected to meet today to decide on moving forward with an acquisition valued at €8-11 billion.
Depending on who you choose to listen to, General Motors and the United Auto Workers are either close to forging an important concessions deal, or they're still squabbling over GM's plans to sell imported vehicles to U.S. consumers.
The lone remaining Auto Union D-Type, surmised by many to be the most valuable car in the world, failed to sell at a closed-bid auction that was finally held by Christie's Auction House in late February-early March. The car was expected to go for around $12 million USD before it was yanked off the block by Christie's to further research its history. It was found that this Type D was not the one originally thought to have won the French Grand Prix, but another car with a less illustrious racing h
We recently reported that famed auction house, Christies, had pulled one of its Retromobile headline vehicles in the 11th hour. The Auto Union D Type Grand Prix car was expected to draw bids as high as $12 million, so the withdrawal was quite shocking. We guessed that the decision to pull had something to do with the validity of the catalog claims about its racing history, and that guess ended up being pretty accurate, but with a twist. In a statement just released, Christies announced that ther
Wow. This is kind of a letdown. What was expected to be among the most valuable vehicles ever sold at auction, the Auto Union Type D, has been pulled at the 11th hour. Auction house Christie's made the announcement that they had postponed the Auto Union's sale "pending further exploration into the car's race history." No other explanation was given. The Auto Union GP car was expected to draw insane bids at the upcoming Retromobile auction in Paris.
Four days ago we brought you in-depth coverage of Audi's publicity parade on Park Avenue, featuring the new R8 supercar, the R10 Le Mans racer and the 1938 Auto Union Type-D "Silver Arrow". The attention-grabbing event marked the North American debut of the R8 as well as the opening of Audi's new high-tech 6,400-square-foot "Forum" showroom on Park Avenue in mid-town Manhattan.
George Reisman, professor of Economics at
Pepperdine University and author of the book Capitalism: A Treatise on Economics, attempts to answer the
question of where would General Motors* be today without the United Auto Workers. Some of his ten conclusions