Word: auto
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Moody's also cites a number of recent changes at Ford that should give the automaker's comeback extra kick in the future, including restructuring wages, work rules and retiree health-care elements in its agreement with the United Auto Workers (UAW), as well as some reduction in debt, the maintenance of a sizable liquidity position and a more competitive product portfolio. (Ford obtained concessions on wages identical to those the UAW approved at GM and Chrysler, though Ford is now negotiating for additional work-rule changes and a no-strike clause...
...Administration announced it will slap tariffs of as much as 35% on Chinese-made tires, effectively pricing them out of the low end of the American market. Two days later, China's Ministry of Commerce said it would start antidumping investigations against imports of some U.S. chicken products and auto parts. Though the ministry's announcement made no mention of the tire tariffs, the timing of China's action appears as an eye-for-an-eye reaction to Obama's decision. On Monday, China sought talks with the U.S. through the World Trade Organization to resolve the dispute, while...
...worker ownership is, if anything, more promising in the automobile industry. If the American car companies are to survive, some accommodation must be made between the United Auto Workers, whose eagerness to forestall cuts to retiree and current worker benefits has made it difficult for firms to keep down costs, and the Big Three automakers. Ford, to its credit, has admitted as much by negotiating a deal with the UAW in which Ford has more flexibility in paying retiree health benefits...
...early to say if Bloom’s standing within Obama’s economic team will prove strong enough to start such a dialogue by facilitating more employee buyouts, in the auto industry and elsewhere. For the sake of our nation’s manufacturing workers—and, indeed, for the sake of our nation’s manufacturing companies—here’s hoping worker ownership finds a home in the current administration’s economic policies...
...people and iconography. They are included in the permanent collections of the Whitney Museum and the San Francisco Museum of Modern Art, among others.THC: How has your Detroit background influenced you?Michele Zalopany: Growing up there, I experienced the racial riots. My dad was a union worker with United Auto Workers. He was an idealist, he was probably a child laborer, and that’s why he chose the work that he did. Also, he was Hawaiian and grew up in Hawaii. He was a big influence on me.I look back to things that are really important to me?...