Lets Hang Together or We Will Surely Hang Apart!
Ford Offers Buyouts to All UAW Workers
DETROIT, Dec 21 (Reuters) - Ford Motor Co (F.N) said on
Monday it is offering its 41,000 U.S. factory workers buyouts
and early retirement offers in a bid to reduce its payroll
costs as it aims to return to profit by 2011.
The buyouts mark the second round of such offers [...]
In a refreshing change, the Big Mitten wins
Two industrial icons, one of them partially crippled, shined on Michigan today. Bankrupt General Motors Corp. said it would locate its new small car plant at Orion Township, a move that will save a few thousand manufacturing jobs and keep an endangered stamping facility in Pontiac alive — [...]
Ford to Get Retooling Loans
Ford Motor Co. will today become the first Detroit automaker to receive loans from the U.S. Department of Energy to help cover the cost of developing and building more fuel-efficient cars and trucks, according to people familiar with the decision.
In its application to the Energy Department, Ford said it would use [...]
Chrysler Files For Bankruptcy
Washington — The White House will force Chrysler LLC to file for bankruptcy protection today, after talks between the Treasury Department and the Auburn Hills automaker’s creditors failed last night to reach an agreement.
“This will be quick, it will be efficient, it is designed to deal with those last few holdouts” who [...]
People are Leaving Michigan at an Alarming Rate
Joe LaCross drives American cars. Always has. Born and raised in the blue-collar suburbs of Detroit, this son of a welder wouldn’t dream of rolling past his autoworker neighbors in a Toyota. But not long ago the 38-year-old pulled into the driveway of his Sterling Heights home in [...]
Bankruptcy Leads Possible Plan for Struggling GM and Chrysler
WASHINGTON — The Obama’s administration’s leading plan to fix General Motors Corp. and Chrysler LLC would use bankruptcy filings to purge the ailing companies of their biggest problems, including bondholder debt and retiree health-care costs, according to people familiar with the matter.
The move would in essence split [...]
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