Word: auto
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...world's largest automaker is desperately trying to hammer out a new contract that would shift the burden to the United Auto Workers (UAW), the union that represents 73,000 of GM's employees and nearly 270,000 retirees. The company wants to fund a health-care trust, administered by the UAW, to pay for retirees' medical needs. The union's old contract expired Sept. 14, and the creation of that trust has emerged as the principal stumbling block to a new one. An eventual deal looks likely; the two sides are haggling furiously over exactly how much GM will...
...reason for the difference in attitude is pretty simple. In metropolitan Detroit, the 11% drop in home prices over the past year was just one more sign of a local economy in decline thanks to the troubles of the auto industry. In San Diego, the drop of 7.3% came out of the clear blue sky. The city still has jobs to offer. Beaches...
...impossible, Richard Maponya made his name, and his fortune, subverting the established narrative. Later this month, he will buck convention once again when, opposite the wooden shack used by Dark and Lovely Barbers on Old Potchefstroom Road and an abandoned shipping container that is the workshop for P. Maone Auto Electrical Repairs, he opens a $70 million, 700,000-sq.-ft. (65,000 sq m) steel-and-glass shopping mall in Soweto...
...they would be in Europe or the U.S. At the same time Tata has tapped the skills of Italy's Fiat, with which it has a joint venture in India, and engine designers in Britain's West Midlands region, some of whom were jobless after closures in Britain's auto industry over the past few years. Indian producers are relentless cost-cutters. Many, including Tata, now buy parts through Internet auctions to get the best price. Industry analysts speculate that the one-lakh car may revolutionize assembly, with some parts glued together rather than welded or bolted. Even so, Tata...
...They favored Romney, albeit grudgingly. "I voted for Romney because it's going to take a lot of money to beat the liberals. They've got Hollywood and the unions," said Steve Kruse of Ogden, who seemed unaware that Big Oil, agribusiness and a fair number of major auto dealers support his party of choice. Romney was able to purchase (at $35 per entrance ticket) the votes of Kruse and 4,515 others-and it was the prospect of the former Massachusetts Governor's financial firepower that scared Giuliani, McCain and the spectral Fred Thompson away from the event. Romney...