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Filed under: Plants/Manufacturing , GM , UAW/Unions The UAW strike at American Axle has ground on for three months, but an agreement with the union was reached on Friday. General Motors had pledged $200 million dollars to help get things rolling again after being forced to idle plants. The action has reportedly cost GM $800 million, so what's a few more on top of that to get plants back online? With that logic, the automaker's managed to shake loose another $18 million to pay for supplemental unemployment benefits, bringing its total commitment to $218 million in hopes of wrapping up the spat with its axle supplier. [Source: Automotive News - Sub. Req.] Read | Permalink | Email this | Comments
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Filed under: Plants/Manufacturing , GM , Earnings/Financials , UAW/Unions General Motors has been hit so hard by the ongoing American Axle strikes that it's stopped production of the GMC Yukon, Denali, Sierra heavy-duty regular and extended cab, its commercial-duty pickup and variants of Chevrolet trucks and Tahoes. All the while, the General is still negotiating with the UAW over local contracts at some of its most important plants . To ease some of its supply problems, General Motors has reportedly offered as much as $200 million to American Axle for the funding of employee buyouts, early retirements and for the support of wage buy downs. The offer, however, is conditional on a quick resolution between American Axle and the UAW. Spokesman Dan Flores says that GM hopes "the offer will help bridge the gap between American Axle and the UAW and that they will be able to reach a mutually satisfactory agreement in the near future." Both the UAW and American Axle sound supportive...
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Filed under: GM , UAW/Unions Workers at the General Motors assembly plant in Oshawa, Ontario have given the automaker until this fall to confirm that additional models will be built there, or else... STRIKE! The Oshawa plant currently builds the Chevy Impala and Buick LaCrosse, and is scheduled to build the Chevy Camaro when it enters production in February of 2009, but that's it. Other rear-wheel-drive products were also promised, but because of the weak dollar and new CAFE regulations, GM is apparently rethinking whether those vehicles will be built at all. Apparently back in 2006, the Canadian Auto Workers union agreed to concessions to reduce costs, convert to a more flexible manufacturing process and guarantee that future vehicles would be built at the plant. They're now claiming that GM wants additional concessions to secure those future vehicles, and all GM has to say is that "future products for Oshawa are in flux." According to CAW, it has until this fall to make...
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Filed under: GM , Earnings/Financials , UAW/Unions The GM strike lasted less than 40 hours, not even two full days. For UAW president Ron Gettelfinger, however, it was just enough time to secure for his members the concessions he wanted. So which side...
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Filed under: Plants/Manufacturing , GM , UAW/Unions Investors and industry pundits don't believe the UAW strike will last long, proving their belief with a slight drop of $0.20 in GM's stock price. Widespread belief is that GM could handle a two-week...
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Filed under: GM , UAW/Unions click above pic to view more images from the UAW strike Despite reports that the UAW and General Motors are back at the bargaining table this afternoon, and will be indefinitely, the union appears to be preparing for what...
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Filed under: China , Crossovers/CUVs , Buick , GM , UAW/Unions click above image to view high-res gallery of the Buick Enclave Amidst all the fury surrounding the UAW strike today, General Motors released a statement announcing an $800 million deal with...
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Filed under: GM , UAW/Unions At 1:30PM today, Canadian Auto Workers (the Canadian counterpart to the UAW) president Buzz Hargrove gave a press conference responding to the UAW strike today against General Motors. In Hargrove's mind, a worst case scenario...
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