Word: unioneering
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...other side of the Atlantic, European Union governments have spurned entreaties to let funds flow into their staggering economies. "Europe has done what it needed to do," says Luxembourg Prime Minister Jean-Claude Juncker, who is also chairman of the 16-member euro zone, adding that the U.S.'s appeals "were not to our liking...
...unfair to blame Germany for holding everyone back," says Elmar Brok, a German member of the European Parliament with Merkel's conservative Christian Democratic Union. "We are already doing a lot at home, both federally and at state level. And we are doing it differently to the U.S., because we have made a lot of bank guarantees. But we also need to think about repaying our debts. Who will do it? The next generation...
Chrysler LLC has warned the Canadian government and the Canadian Auto Workers (CAW) union that it will close its assembly operations north of the border unless it gets $2.3 billion in loans from Ottawa, a 25% reduction in labor costs and a waiver on more than $1 billion in taxes owed...
Chrysler's demand that the CAW slash labor costs by 25% caught the industry by surprise because it breaks with the time-honored tradition of pattern bargaining - in which an agreement by one of the automakers with the union sets the pattern for the others. Earlier this week the CAW gave up a special annual bonus and agreed to a reduction in paid time off in reaching a deal with General Motors. But that deal was criticized by some in the industry as insufficient. Indeed, Ford Motor Co. said Friday it will also reject the GM-CAW deal...
...plans to play hardball. "I'm incredibly frustrated," says CAW president Ken Lewenza, adding that his union will not play by a new set of improvised rules. He also challenged LaSorda's assertion that Chrysler's operations in southern Ontario are uncompetitive. "They've always been very profitable, even in the toughest times," says Lewenza. Chrysler recently closed a minivan plant in St. Louis, and last week killed a third shift at its minivan plant in Windsor, Ont., throwing 1,200 people out of work. This suggests that even while minivan sales are sagging with the economy, the company...