43 Articles
Mar 12, 2009
GM forgoes $2 billion in federal loans it doesn't need

General Motors announced today that it's taking a pass on $2 billion in loans that were previously requested last year for the month of March. The automaker cites "company-wide cost reduction efforts as well as pro-active deferrals of spending previously anticipated in January and February" as the reasons for why it's withdrawing the request for money. GM advised the President's Task Force on the Auto Industry of the development this week and revealed the news today at the bottom of a press rele

John Neff
Mar 12, 2009
GM Canada workers approve contract concessions

The Canadian Auto Workers union has ratified a new contract with General Motors that should help substantially reduce the automaker's operating costs in Canada. The template of the agreement is very similar to the one reached here in the U.S. between Ford and the UAW recently.

Jonathon Ramsey
Mar 12, 2009
Ford's new deal with UAW gets wages down to $55/hour

Two years ago when Ford was negotiating a new contract with the UAW, the automaker was paying its union workers the oft-bandied amount of $70 per hour. That amount wasn't the actual hourly wage of each employee, though, but rather the employee's hourly wage plus the cost of contributions to current and future benefits for retirees and workers still with the company. Now, due to a Jonathon Ramsey

Mar 12, 2009
Auto X Prize suggests teams try winning venture capital, press venues first

One of the problems for some of the smaller teams that want to win part of the $10 million Automotive X Prize is that they might not have enough funds to get their cars into the streets for the competition. The X Prize team is looking out for them, though, and recently posted a notice about Startup Nation's 2009 Elevator Pitch Contest that is offering cash to the best ideas to come ac

Sebastian Blanco
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