Word: auto
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...particularly galling to the United Auto Workers (UAW) that, in addition to numerous rounds of layoffs and givebacks dating back two decades, the union is being cast as the enemy in the U.S. auto industry's fight to survive. "Our contracts with Chrysler, Ford and GM represent only 10% of the cost of assembling of a vehicle. But most days, it seems like we get 110% of the attention," said UAW president Ron Gettelfinger in a recent speech. In the wake of GM's most recent quarter, in which the company lost $9.6 billion - $30.9 billion on the year...
That criticism has lost its bite with autoworkers, considering that Toyota and other foreign makers are taking it on the chin just as much as Detroit. "This attitude, targeting the UAW as the bad guy here or the reason the auto industry is in rough shape - they think that's unjustified, not warranted," says David Lipsky, professor of dispute resolution at Cornell's School of Industrial and Labor Relations. And with some reason, says Lipsky, "they were innovative and creative: they built a comfortable lifestyle for middle-class Americans. And now it's turned out to be a house...
Don’t worry, your computer isn’t infected with some weird screen-warping virus; that’s actually what it’s supposed to look like. In the latest video from his Auto-Tune drenched album “808s and Heartbreak,” Kanye plays the poor-little-rich-rapper card while simultaneously re-enacting his latest acid trip. The video opens with West in sunglasses and a color-block sweater—think Will Smith on “Fresh Prince of Bel-Air”—against...
...govern. He has to manage situations - the banks at home, the deterioration of Pakistan overseas - that might prove unmanageable. For all the spiritual success of his budget speech, there were precious few details about his policy priorities. No one really knows what to do about the American auto industry. No one really knows if, or how quickly, alternative energy sources can revive the economy and salve the planet. There seems to be some confusion about how to proceed on health care. In his speech, the President promised a national health plan within the year. But in a prespeech briefing...
...collapse in global auto sales is forcing the company to drastically scale back. Tata laid off some 850 employees at JLR in November, and reportedly is considering issuing another 1,500 pink slips. Indeed, the storied Jaguar and Land Rover brands that once were a source of Tata Motors pride are increasingly looking like boat anchors. Since the acquisition, Moody's, the investment ratings agency, has twice downgraded Tata Motors' debt rating, which now stands at non-investment grade...