Word: forde
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...United Auto Workers' bargaining committees from General Motors, Ford Motor Co. and Chrysler LLC are scheduled to meet in Detroit this week, facing pressure to make additional contract concessions in order to secure federal aid for the struggling automakers...
...battles over concessions have reopened old wounds in an industry long known for class warfare. Detroit's auto companies are organized around a strict hierarchy, with little of the "all for one, one for all" spirit that is more typical of start-up companies in Silicon Valley. Executives from Ford bluntly told union bargainers during one meeting last year that "shared sacrifice," a concept used during the industry's last crisis in the early 1980s, no longer applied because executives' high salaries were based on Ford's successful global operations...
...Until three years ago, the UAW's bargaining strategy was driven by a "no-concession" policy, though it did limit wage demands in exchange for richer pension and health-care benefits. Over the last three years, however, the union has reluctantly rewritten contracts with Ford, General Motors and Chrysler LLC, often over the strong objections of many union members...
...they drive back to Detroit. The second money-begging pilgrimage to Washington by the CEOs of the three U.S.-based automakers went a lot better than their first vist two weeks ago. Then General Motors' Rick Wagoner, Ford's Alan Mulally and Chrysler's Ron Nardelli came in corporate jets and left with the angry words of lawmakers ringing in their ears. This time they traveled in hybrid cars, offered detailed plans for how they would spend and repay the $34 billion in government loans they requested, and met with a much friendlier reception. They still didn't leave with...
...have that much time, so discussion Friday turned to the possibility of a bridge loan to get them through until the end of March. Under questioning from Pennsylvania Democrat Paul Kanjorski, Wagoner said GM needed $10 billion to survive that long, and Nardelli said Chrysler would need $4 billion. Ford could make it that far without any help, Mulally said...