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Ford Offers Buyouts to All UAW Workers

Posted in December 21st, 2009
by hallslug in Big Three, Detroit, Michigan, Middle Class

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 [...]

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Good News For Detroit

Posted in June 18th, 2009
by hallslug in Big Three, Detroit, Economy, IBEW Jobs, Michigan, Middle Class

Cash For Clunkers Bill Approved by Congress
The Senate approved a $1 billion program yesterday to give vouchers to consumers who trade in their gas-guzzling clunkers for more fuel-efficient models — a move that dealers hope will revive slumping auto sales.
Congressional leaders attached the legislation to a $106 billion spending bill to fund troops in Iraq [...]

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Chrysler Files For Bankruptcy

Posted in April 30th, 2009
by hallslug in Big Three, Detroit, Economy, Labor Unions, Unemployment

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 [...]

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AUTO INDUSTRY IS FOREVER CHANGED

Posted in November 28th, 2008
by hallslug in Big Three, Economy, IBEW, Michigan

Detroit Auto Industry Is Forever Changed Due to Credit Crunch
LANSING, Mich. — Detroit’s Big Three automakers are forever changed by the current credit crisis, according to a study done by a well-known Michigan economics firm.
The study, from Lansing-based Anderson Economic Group, gives a stark peek into the auto business and reports bankruptcy, radical restructuring [...]

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Double Standard for Detroit Big Three

Posted in November 27th, 2008
by hallslug in Big Three, Economy, IBEW, Michigan, Middle Class, Politics

Congress Gives Citibank Bailout Cash But None for Detroit Automakers
The feds pump another $20 billion into teetering Citigroup Inc. and insure $306 billion in bad assets just days after Congress slaps Detroit’s automakers for failing to table “a plan” to justify $25 billion in loans and folks ’round here cry, “Double standard! Double standard!”
Double standard? [...]

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