Automakers to be asked to help foot the bill for airbag recalls as private equity firm KKR moves towards a leveraged buyout of Japanese automotive supplier Takata.
Planet Money on National Public Radio takes an aerial view of the government's "fiscal cliff" brouhaha via three different negotiating techniques – the issue isn't what each side is trying to get, but how each side might try to get it. The two hosts outline three different ways to persuade, and then use ordinary examples to demonstrate how we use the same techniques for quotidian affairs that Congress will use to decide the next phase of the nation's financial future.
The Canadian Auto Workers union and Chrysler have reportedly come to a tentative agreement, ending a long-running series of contract negotiations. Chrysler was the last of the Detroit automakers to continue negotiating with the CAW, as General Motors and Ford had both recently come to terms with the union.
Automotive News is reporting that Chrysler and the United Auto Workers have extended contract negotiations for an additional four weeks. The talks are bent toward a new wage and benefit pack that will impact around 23,000 workers. Previously, Chrysler and the UAW were operating under a one-week extension that expired on Wednesday, September 21, and the new extension allows the union to focus its effort on talks with Ford.
Workers at French car parts maker New Fabris (its main clients include Renault and Peugeot-Citroen) have voted down immediate plans to explosively send the roof of their plant into the troposphere, as long as talks with aides to Industry Minister Christian Estrosi are in the works. It seems that the workers, part of the CGT union, are demanding higher redundancy payouts as nearly 370 of them have lost their jobs following the collapse of the automotive sector.
If you were surprised by the "resignation" of GM chief Rick Wagoner late last month, get used to the idea. Chrysler reportedly has some major management changes in store as well, including a new seven-member executive board including representatives from Fiat and the Obama administration's automotive task force. But while Bob Nardelli may stay on to chair that board, Chrysler's next CEO may not even be American. Sources close to the ongoing negotiations between Chrysler LLC and the Fiat Group su
After declaring that the deal GM struck with the Canadian Auto Workers union wasn't nearly good enough, Chrysler has threatened to pull out of Canada if cannot come to an agreement with the CAW by Tuesday, March 31. Making matters even more pressing is the fact that the Canadian government has set the same deadline for Chrysler's Canadian operations to receive government money. If the CAW and Chrysler don't agree on something, the Canadian treasury closes up the vault.
According to The Canadian Press, Chrysler may elect to pull all manufacturing operations out of Canada if it cannot come to an agreement with the Canadian Auto Workers by month's end. The embattled automaker is looking negotiating with the CAW in part to reduce wages from an average of $76 to $57, and as part of a contingency plan/ bargaining chip, it is reportedly architecting a wholesale pullout from America's northern neighbors.
To ensure long-term viability, General Motors has pledged an arm and a leg (and maybe an eye) to satisfy conditions imposed by the federal government after the automaker received billions in taxpayer-funded loans. In addition to reducing debt and condensing the number and type of vehicles it produces, GM has promised to revamp labor contracts -- not an easy task. With that in mind, GM is entering historic talks and negotiations this week with the United Auto Workers, bondholders, dealers and oth
Only days before heading to bankruptcy court, Italian engineering firm and carrozzeria Bertone revealed that it was about to pull a last-minute trick out of its sleeve in an announcement later that day. But when the announcement didn't come, the industry was left wondering if, after 95 years in business, Bertone was about to slip away.