Category Archives: economy

GM Strike Gets Nasty as it Cancels UAW Healthcare Plan

The UAW activated the strike fund as soon as it became aware of GM’s strategic (ham-fisted?) decision to cut healthcare. Continue reading

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Teamsters to Honor Picket Lines of 50,000 UAW GM Workers

 “We laud the UAW for its work to ensure that its GM employees are treated with respect and dignity on the job. At a time when more and more companies are downsizing and shipping jobs out of the U.S., it is imperative that unions fight for their members. Workers should be rewarded for good work with fair wages and benefits. That’s what the UAW is demanding.” Continue reading

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General Motors Offers UAW $7 Billion in U.S. Investments, an $8000 “Signing Bonus” or is that Bribe?

In its latest statement – with perhaps a hint of desperation – GM said today that “We presented a strong offer that improves wages, benefits and grows U.S. jobs in substantive ways, and it is disappointing that the UAW leadership has chosen to strike at midnight tonight Continue reading

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UAW to Strike GM – Contract Talks Deadlocked

The strike does not just involve GM and its suppliers. It has the potential to turn into a national crisis and affect the upcoming presidential election. It could certainly drag in Ford and FCA. At midnight more than 850 Aramark workers in Michigan and Ohio walked off the job over better wages, health care and retirement.The teamsters have yet to be heard from. Continue reading

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Western European Car Registrations Fall by -8.5%

“We suspect that last month’s strong sales may have been the result of an increased use of self-registrations by dealers and OEMs, ahead of further changes to WLTP regulations which came into effect on 1 September, and we may therefore see some payback in selling rates in the coming months,” says LMC.    Continue reading

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Brexit – UK Car Production Declines -10.6%. Exports Hit

British car manufacturing output declined -10.6% in July, with 108,239 units produced, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). This was the 14th successive month of decline as ongoing weakness in major EU and … Continue reading

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Record Number Join Rolls-Royce Apprenticeship Program

The new recruits will train with the company for between two and four years, working alongside experienced craftspeople in Assembly, Woodshop, Surface Finish, Leathershop, Parts Quality and Total Vehicle Quality Management to learn the skills and techniques employed by the luxury manufacturer. They will also study for nationally-recognized vocational qualifications at Chichester College and other local further education establishments. Continue reading

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July Global Vehicles Sales Drop More Than 3M

Consumers appear to be choosing to save instead of spending amid global uncertainty. Continue reading

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FCA Q2 Earnings – Net profit at €0.8B. Trouble Ahead?

With the first financial results since an attempt to merge with France’s Renault, FCA said its adjusted earnings before interest and tax (EBIT) would top last year’s 6.7 billion euros ($7.5 billion). It also said it continues the quest for partners. Previously it promised to deliver 2020 adjusted earnings before interest and tax (EBIT), excluding the Magneti Marelli unit it sold,  of €9.2-10.4 billion. Continue reading

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Ten-Month US Budget Deficit Now at $867 billion. $Trillion Deficits Now Certain Under Current Economic Policies

This, gulp,is $184 billion more than the deficit recorded during the same period last year. Revenues were $92 billion higher, and outlays were $276 billion higher than in the same period in fiscal year 2018. So much for Republican lip service that claimed deficits were bad. Continue reading

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Death of the Diesel: CARB Incentives for Clean Off-Road Freight and Cargo Handling Funded by Cap and Trade

The result is equipment that saves businesses on fuel costs and has zero tailpipe emissions—a winner for the pocketbook and the community. Continue reading

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GM Q2 Confirms US Economic Slowdown

Trump’s escalation of the trade wars will likely make things worse not only for GM, but Ford Motor and Fiat Chrysler as well. After GM released earnings, Trump said he would dictate a 10% tariff (aka tax on U.S. consumers on consumer goods and manufacturers on intermediate goods) on $300 billion worth of Chinese imports not already covered with penalties. Continue reading

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Attack of the High-Voltage Zombies – Electrify America And Stable Announce Robotic Fast-Charging for Autonomous EVs

Electrify America has provided two 150kW DC fast chargers to Stable’s charging facility for initial development work behind demonstrating the commercial viability of autonomous charging services for self-driving EVs. Thereby begins another job-destroying Green Economy effort. Continue reading

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Penske Automotive Group Q2 Sales Down as Economy Slows

Penske – in AutoInformed’s view – is a leading indicator of where the auto market is going in the US and UK. The decline in new auto sales with an increase in used auto sales could indicate that the economy – here and globally – is on the verge of a recession. Continue reading

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US Deficit and Government Spending Grow in Q2

Fasten your seat belt it’s going to wild ride. Is that a tropical storm building in the straits of Hormuz? Continue reading

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