The News Review:
- United Auto Workers approve GM labor agreement
- Canada’s Flaherty won’t give auto bailout total
- Stronach: man behind the auto parts giant Magna
United Auto Workers approve GM labor agreement
Bizjournals.com
In a Friday release the Detroit-based automaker (NYSE: GM) said that the changes include modifications to the Voluntary Employee Beneficiary Association trust for retiree health care and other wage and benefit concessions designed to make GM more competitive. “The leadership demonstrated by UAW president Ron Gettlefinger and UAW vice president Cal Rapson and the hard work from the members of the General Motors and UAW negotiating teams resulted in an innovative agreement that will enable GM to be fully competitive and has eliminated the gap with our competitors” Diana Tremblay vice president of GMs’ labor relations said in the release. “Their shared sacrifices will enable GM to become a stronger more viable company that will continue to deliver world-class cars and trucks. ”GM is still trying to work out a deal with its bondholders before a government-imposed Monday deadline requiring the company to have an acceptable plan for surviving the economic crisis or file bankruptcy. A deal was announced Thursday asking bondholders to trade $27.
Related from Rizzicreations: Steel may give auto industry restructuring roadmap
Canada’s Flaherty won’t give auto bailout total
Reuters
Flaherty said the federal government and provincialgovernment of ntario remain committed to preserving Canada’s20 percent share of North American auto production. 09 Canadian) (Reporting by Jennifer Kwan; editing by Peter Galloway).
Stronach: man behind the auto parts giant Magna
Forbes
once referred to himself as “king” at one of his shareholder meetings. He’s now added another property to his business empire: General Motors Corp’s pel unit. Early Saturday after the second round of high-level talks in Berlin in as many days Germany’s finance minister said that a plan was approved for Magna to move ahead with a rescue of pel.