You might have thought that the Caterham F1 team, currently sitting dead last in the standings without a single championship point to its name, had already hit rock bottom and couldn't sink any lower. But apparently it has. As we reported just recently, Caterham Sports Limited – the factory that produces the F1 cars that the team fields in the FIA Formula One World Championship – was facing bankruptcy. And now, it seems, the team itself could fall apart as well.
Blaming the current economic conditions and still wounded from a near-fatal labor strike, Detroit-based auto supplier American Axle & Manufacturing Inc. will reportedly lay off at least 500 workers at its largest plant and send the remaining jobs south of the border to Mexico.
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Hyundai's labor union has taken a note from the Teamster playbook and is attempting to strong-arm the automaker. During a ceremony to celebrate the new year, union members ganged up on Hyundai's president and discharged fire extinguishers. The ceremony came screeching to a halt with the president suffering a facial wound in the melee. The hubub arose over bonus pay. Workers were given a bonus equivalent to 100 percent of their normal pay. The extra pay was directly correlated to how close they c