Free Republic 4th Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $5,519
Woo hoo!! And the first 6% is in!! Thank you all very much!!

Keyword: uaw

Brevity: Headers | « Text »
  • Obamacare Covert Bailout Should be Scrutinized

    11/04/2011 10:44:13 AM PDT · by jazusamo · 3 replies
    National Legal & Policy Center ^ | November 4, 2011 | Mark Modica
    Back in April of this year I wrote about the covert bailout that was buried in the Obamacare bill which gives $5 billion of taxpayer money to unions, states (for public employees) and corporations for health care coverage for retirees aged between 55 and 64. The program is called the Early Retiree Reinsurance Program or ERRP. The UAW is the largest single beneficiary, receiving over 200 million dollars. General Motors also gets a piece of the pork with about a 20 million dollar cut. A recent report by the Washington Examiner identifies early retirees (many of whom are being...
  • You Can’t Rely On American Cars Because American Car Makers Rely On Bailouts

    10/27/2011 7:26:26 AM PDT · by Malone LaVeigh · 20 replies
    Redstate ^ | Wednesday, October 26th | Repair_Man_Jack
    The Consumer Reports Company just rated the reliability of 28 makes of automobile from around the world. No American car manufacturer scored better than 13th in ordinal ranking. Ranked on a Lickert Scale from 1 to 5, Jeep, the best American competitor, scores approximately 3.0. No American car does better than average at staying in one piece. This raises a fair question: did we really save GM and Chrysler or did we just screw the bondholders to put off the inevitable?
  • $58-an-Hour UAW Workers Kill $16K Ford Bonus as Stingy

    10/11/2011 10:58:53 PM PDT · by Nachum · 40 replies
    Townhall ^ | 10/12/11 | John Ransom
    As the UAW rank-and-file continues to vote on the contract offer hammered out between management and UAW honchos, the Detroit Free Press reports that at least one local has rejected the offer, even though it includes a $6,000 cash bonus, a $3,700 profit sharing bonus and at least another $1,500 cash for each of the four years on the contract for a total of $15,700 on top of wages and benefits. (Snip) No wonder some auto companies needed a bailout. $56 and $58 an hour? Most CEOs and small business owners make less than that.
  • Special Report: Crunch time at America's richest union

    09/29/2011 3:59:22 PM PDT · by Lockbox · 16 replies
    Reuters ^ | 9-22-11 | Deepa Seetharaman and Kevin Krolicki
    Bob King, the president of the United Auto Workers, has a problem: the labor union that credits itself with creating the American middle class has glimpsed the end of the line. Two years after the wrenching restructuring of the U.S. auto industry and the bankruptcies that remade General Motors and Chrysler, the UAW is facing its own financial reckoning. America's richest union has been living beyond its means and running down its savings, an analysis of its financial records shows.
  • Good news! The UAW on the ropes and running out of money

    09/29/2011 3:52:50 PM PDT · by jmaroneps37 · 14 replies · 1+ views ^ | September 29, 2011 | Kevin "Coach" Collins
    There is a growing financial deficit that we have not heard much about. The Left is working hard to smother it, but news of impending doom for the United Auto Workers (UAW) can not be changed by ignoring it. A very wise tactic employed by the auto manufacturers has yielded a major bit of “intelligence”: the UAW is locked into a “ticking time bomb”…… blow up in its face. The UAW on life support for deficit spending A forensic examination of the financial ….UWA…, “The UAW is hollowed-out and heading for disaster.” The report continued by quoting an anonymous source...
  • Document drop exclusive: Issa asks CEO about White House/Ford fiasco

    09/29/2011 2:25:35 PM PDT · by sunmars · 53 replies
    Michelle Malkin ^ | Michelle Malkin
    GOP House Oversight and Government Reform chair Rep. Darryl Issa has questions for Ford CEO Alan Mulally about the White House Ford fiasco. In a new letter Mulally received today, Rep. Issa requests more information and notes that he is “deeply concerned about undue political pressure exerted by the White House on public companies. Issa asks Mulally the same question I asked White House press flack Dan Pfeiffer yesterday (and which Pfeiffer refused to answer): Did any White House officials — or any other current or former administration officials — contact any Ford officials/employees to discuss the anti-bailout ad? He...
  • Tax the Banks to Cover Auto Bailout Losses?

    09/29/2011 9:16:18 AM PDT · by jazusamo · 1 replies
    National Legal & Policy Center ^ | September 29, 2011 | Mark Modica
    A recent article on by John Berlau exposes another scheme by the Obama Administration designed to redistribute more wealth in an effort to cover taxpayer losses in the General Motors and Chrysler bailout fiasco. The plan is to have financial institutions with assets of more than $50 billion to continue to pay a "financial crisis responsibility fee" until TARP losses by firms like GM and Chrysler are recouped. Of course, cronies at GM and Chrysler are not on the hook for the losses. It seems that the old playbook used by Obama to have others pay for the...
  • Report: Ford pulls bailout ad after criticism from press, questions from White House

    09/27/2011 9:58:54 AM PDT · by rightwingintelligentsia · 48 replies
    MLive ^ | September 27, 2011 | Jonathan Oosting
    Ford Motor Company has shelved a television commercial indirectly criticizing its competitors for accepting government bailouts to avoid bankruptcy in the wake of media criticism and, reportedly, a call from the White House. The ad, first uploaded to YouTube months ago, was part of a series featuring real-life customers who were thrust into press conferences where actor/reporters asked them to explain their decisions to buy a Ford. "I wasn't going to buy another car that was bailed out by our government," the customer, Chris, said in the ad. "I was going to buy from a manufacturer that's standing on their...
  • GM is back, thanks to Uncle Sam

    09/22/2011 3:02:22 PM PDT · by zimfam007 · 14 replies
    The Washington Post ^ | 9/21/11 | E.J. Dionne Jr.
    ..."yes, this was socialism".... That is all that is important here...the rest is just WaPo progressive need to stick needles in your eyes by reading the entire article *laughs*
  • How Deep Does GM Boycott Run? (Good read)

    09/22/2011 9:14:22 AM PDT · by jazusamo · 56 replies
    National Legal & Policy Center ^ | September 22, 2011 | Mark Modica
    Media headlines about General Motors trumpet events that would lead one to believe that the company has successfully transformed itself into a self-sustaining, profitable American corporation. Readers are to believe that thousands of jobs are now being created at GM and the taxpayers are on their way to reaping the rewards of their so-called "investment" of $50 billion in an ownership stake of the company, even as Wall Street pricing of GM shares indicates otherwise. However, there is a portion of Americans who do not buy into the GM success story and now refuse to purchase vehicles from the...
  • UAW says deal with GM creates or keeps 6,400 jobs

    09/20/2011 8:01:33 PM PDT · by quantim · 19 replies
    AP/WorldMag ^ | Sep 20, 7:35 PM EDT | DEE-ANN DURBIN and TOM KRISHER
    DETROIT (AP) -- In exchange for an agreement to create 5,100 union jobs in the U.S., General Motors will hire thousands of less expensive employees and try to replace some longtime workers. The offer is part of a tentative new contract between the automaker and United Auto Workers that union leaders recommended to their membership on Tuesday. Now, nearly 50,000 workers at GM must vote to accept or reject the four-year contract. The contract also includes a $5,000 signing bonus and profit-sharing checks if GM earns a minimum of $1.25 billion in North America annually. Those payments, and others, will...
  • GM, UAW agree on profit-sharing in new contract

    09/18/2011 8:34:24 AM PDT · by Nachum · 25 replies
    Chicago Tribune ^ | 9/18/11 | Dee-Ann Durbin and Tom Krisher, AP
    DETROIT (AP) -- The United Auto Workers union won $5,000 signing bonuses and the possibility of sweeter profit-sharing checks as part of a new four-year contract with General Motors Co., two people briefed on the talks said Saturday. The deal, which was reached late Friday, also includes a $2- to $3-per-hour pay raise for entry-level workers over the life of the contract and guarantees more union jobs, the people said. Both persons asked to remain anonymous because the details of the contract haven't been reviewed by all local union leaders. The GM deal will serve as a template for contracts...
  • General Motors Is Said to Offer Its Workers Bonuses

    09/17/2011 9:30:20 AM PDT · by Oldeconomybuyer · 34 replies
    New York Times ^ | September 17, 2011 | By BILL VLASIC and NICK BUNKLEY
    DETROIT — The United Auto Workers union won $5,000 signing bonuses for its workers and a promise to re-open an assembly plant in Tennessee as part of its tentative new contract with General Motors, according to people briefed on the negotiations. The union’s president, Bob King, said in a statement that union members would get a larger share of the profits from G.M.’s comeback from its federal bailout and bankruptcy in 2009. In what is being viewed as a landmark deal, the union also preserved health care and pensions and improved profit-sharing for its 48,000 members who work at G.M.
  • Reports: UAW members can expect signing bonuses as high as $10k from Detroit's Big Three

    09/11/2011 3:44:43 PM PDT · by Nachum · 24 replies ^ | 9/11/11 | Michael Wayland
    With approximately 85 hours remaining before contracts between the United Auto Workers union and Detroit’s Big Three expire, UAW members can expect a substantially higher signing bonus than in year’s past, according to reports. But, just how high the bonuses will be remains under speculation. Sept. 10, the Detroit News: “… Reports that it could be as high as $10,000, which is about three times what union members received for ratifying the last national contract in 2007 are being described as too high.
  • AFL-CIO's Trumka, SEIU's Henry and UAW's King all got free ride to Detroit with Obama on AF1.

    09/06/2011 9:47:03 AM PDT · by sunmars · 21 replies
    Reuters correspondent Bohan confirms the Presidents of all 3 Unions flew free on AF1 on the taxpayer dime with Obama to his detroit speech. He doesnt even hide his backers now. I'm just disgusted that he gets to use our money this way. Its obvious he has done a deal with unions and this jobs plan is going to be so pro-union its unbelievable.
  • Rethinking the Great Auto Industry Recovery Story (Good article)

    08/29/2011 8:11:49 AM PDT · by jazusamo · 8 replies · 1+ views
    National Legal & Policy Center ^ | August 29, 2011 | Mark Modica
    For the better part of a year there have been many assertions that the auto industry was on the road to recovery with optimistic projections of sky-rocketing vehicle sales as consumer demand was to return to pre-recession levels. At the time of General Motors' IPO less than a year ago, many reports circulated implying that the stock would be a sure win. One major financial TV network even started a campaign to have all taxpayers "benefit" by being allowed to participate in the IPO. Not long afterwards Wall Street analysts, most with a vested interest in the IPO, initiated...
  • American Axle to Close Plant in Blow to UAW (Unions strike again!)

    08/18/2011 2:05:10 PM PDT · by TonyInOhio · 181 replies
    The Wall Street Journal ^ | 08/18/11 | Jeff Bennett
    DETROIT–American Axle & Manufacturing Holdings Inc. dealt the United Auto Workers a second blow Thursday by announcing the closure of its New York gear-making plant after union rank-and-file members failed to ratify a new contract late last month. The Cheektowaga plant, employing about 100 hourly and salaried workers, will be shut sometime after Feb. 25, American Axle spokesman Christopher Son said. The announcement comes a month after the company said it will close its Detroit plant after workers there failed to agree to wage cuts. That closure will throw about 300 people out of work.
  • More Problems for the Chevy Volt

    08/18/2011 9:44:15 AM PDT · by jazusamo · 27 replies
    National Legal & Policy Center ^ | August 18, 2011 | Mark Modica
    A new report by USA Today offers further evidence that demand for the much-hyped Chevy Volt is not living up to the great expectations laid out by General Motors. Additional negative news includes an overheating charger fault and a power loss glitch, both of which were recently exposed. The USA Today piece cites a study by CNW Marketing that revealed that "prospects are starting to lose interest in the Volt."Starting to lose interest? That's pretty funny, considering that Chevy sold only 125 of the money-losing Volts in July. How much more interest can be lost? The real story is...
  • Some UAW workers demand end to two-tier wage structure

    08/13/2011 8:26:23 PM PDT · by Mikey_1962 · 39 replies · 1+ views
    WSJ ^ | 8/12/11 | JEFF BENNETT
    DETROIT—More than 30 union workers representing the three U.S. auto makers and some parts plants met Saturday to demand that the United Auto Workers push to end the two-tier wage system. "There shouldn't be a tier one or a tier two or a tier three, four or five," said Mark Harris, a worker at a parts plant formerly owned by Ford Motor Co. "There should just be one wage. A UAW wage." This is the first time rank-and-file members have publicly voiced their opposition to the lower wage since the UAW began negotiating a new labor contract with Chrysler Group...
  • Remembering Vincent Chin 28 years later

    08/12/2011 4:30:24 AM PDT · by equaviator · 16 replies ^ | Jun 20, 2010 | Frances Kai-Hwa Wang
    Before I came to Michigan for graduate school, the only thing I knew about Michigan was that it was where Vincent Chin was killed. My parents’ Japanese-American neighbors warned me to sell my father’s Toyota 4-Runner and buy a Ford Bronco. I asked about safety as much as I did about academics before I decided to come. Saturday was the 28th anniversary of the baseball bat beating that caused the death of Vincent Chin. Unfortunately, with the recession and rise in anti-immigrant sentiment, the case is even more relevant than ever. Vincent Chin was a 27-year-old Chinese-American raised in Metro...
  • GM’s 'Crown Jewel' Losing Luster as China Sales Fall

    08/08/2011 9:39:03 AM PDT · by jazusamo · 7 replies
    National Legal & Policy Center ^ | August 8, 2011 | Mark Modica
    A few months back General Motors CEO, Dan Akerson, made claims that future profits at GM would be driven by China sales and the Chevy Volt. It has become apparent that the Volt is a non-issue, so let's take a look at the performance of what Akerson described as the "crown jewel" of GM.China sales in July for GM actually fell 1.8% year over year. GM and its "joint ventures" sold 173,398 vehicles in China for the month of July. Of this number, 77,944 units were sold by SAIC-GM-Wuling. It is another overlooked half-truth by GM that they count...
  • Ford Earns $2.4 Billion Net Income in Second Quarter 2011 (title shortened)

    07/26/2011 1:38:36 PM PDT · by CSM · 13 replies
    Ford Motor Company Corporate page ^ | 7/26/2011 | Ford Presser
    •Second quarter net income was $2.4 billion, or 59 cents per share, a $201 million decrease from second quarter 2010. Pre-tax operating profit was $2.9 billion, or 65 cents per share, a decrease of $64 million from second quarter 2010. •Automotive pre-tax operating profit was $2.3 billion for the second quarter, an increase of $209 million from second quarter 2010. •Ford Credit reported a pre-tax operating profit of $604 million for the second quarter, a decrease of $284 million from second quarter 2010. •Total Company revenue was $35.5 billion in the second quarter, up $4.2 billion from second quarter 2010....
  • Shafted Delphi Retirees Suing Treasury, Auto Task Force

    07/25/2011 11:11:30 AM PDT · by jazusamo · 23 replies
    National Legal & Policy Center ^ | July 25, 2011 | Mark Modica
    The unprecedented intrusion of the executive branch of the US government into the American auto industry when the Obama Administration orchestrated the General Motors and Chrysler bankruptcy processes is now leading to unprecedented responses. Groups that were clearly discriminated against and had their rights subordinated to politically powerful unions may actually have a winnable case against our own government as lawsuits are being brought against the US Treasury Dept. and others.The Delphi salaried retirees who saw their pension benefits disintegrate after the GM bankruptcy are now suing the US Treasury, the Auto Task Force, Treasury Secretary Tim Geithner, and ex-Auto...
  • UAW wants bigger cut of Detroit's newfound profits

    07/25/2011 10:14:07 AM PDT · by ThinkingBuddha · 28 replies
    Yahoo Finance ^ | 07/24/2011 | AP
    To help American carmakers stay in business, autoworkers grudgingly gave up pay raises and some benefits four years ago. Now that General Motors, Ford and Chrysler are making money again, workers want compensation for their sacrifice. Just how much they get is the central question hanging over contract talks that start this week between Detroit and one of the nation's largest and most powerful unions. The negotiations, the first since Chrysler and GM took government aid and emerged from bankruptcy, will set wages and benefits for 111,000 members of the United Auto Workers, including those at Ford, which avoided bankruptcy...
  • U.S. Sheds Its Stake in Chrysler (Taxpayers Lose $1.B in the Deal)

    07/21/2011 6:11:43 PM PDT · by lbryce · 14 replies
    New York Times ^ | July 21, 2011 | Nick Bunkley
    The federal government on Thursday ended its partial ownership of Chrysler, completing a sale of its stake in the automaker to Fiat S.p.A. of Italy for $560 million. The sale, which gives Fiat majority control of Chrysler, leaves taxpayers $1.3 billion short of recovering the $12.5 billion lent to the company as it slid into bankruptcy protection a little more than two years ago. The remaining balance belongs to the “old Chrysler” — a collection of unwanted assets being liquidated in bankruptcy — and is unlikely to be repaid, the Treasury Department said in a statement. “With today’s closing, the...
  • U.S. Government Ends Chrysler Investment With $1.3 Billion Loss

    07/21/2011 3:48:32 PM PDT · by Doogle · 31 replies · 1+ views
    FoxNews. ^ | 07/21/11 | FoxNews.
    The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company. Italian automaker Fiat SpA, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government's remaining 98,000 shares in the auto company for $560 million.
  • Auto Bailout Czar Ron Bloom Changes Story (Video & transcript)

    07/19/2011 9:37:48 AM PDT · by jazusamo · 3 replies
    Nationjal Legal & Policy Center ^ | July 19, 2011 | Mark Modica
    VIDEO 5:03 minutes On Friday night, I discussed White House staffer Ron Bloom's statement that the auto bailout was done for the unions, and his subsequent denial of making such a claim, only to now back off his denial. The show was America's Nightly Scorecard on Fox Business Channel. Here's a transcript:David Asman: The auto bailouts infuriating a range of stakeholders who argued all along that the government was orchestrating the bail-outs to give the unions more power, some say all the power, Ron Bloom, the White House's car czar, formerly a leader of the steelworkers union, reportedly admitting as...
  • GM's Free Insurance Incentive – Innovation or Desperation?

    07/18/2011 10:53:39 AM PDT · by jazusamo · 22 replies
    National Legal & Policy Center ^ | July 18, 2011 | Mark Modica
    General Motors recently launched a pilot program in the Pacific Northwest offering free auto insurance on GM vehicle purchases. The move immediately drew criticism from independent insurance agents who point to possible legal problems with the move, as reported by The agents are obviously concerned with the potential loss of business, but they make valid points that there are regulatory and licensing requirements that go with the offering of insurance products. Other concerns raised include provisions that might exist for consumers who have more than one vehicle and are required to insure the vehicles under the same carrier....
  • Auto Bailout Czar: We Did It All for the Unions

    07/10/2011 12:24:33 PM PDT · by jazusamo · 4 replies
    National Legal & Policy Center ^ | July 10, 2011 | Mark Modica
    The Detroit Free Press reports that the House committee holding hearings on the auto bailout process wants clarification from former head of President Obama's Auto Task Force, Ron Bloom, regarding testimony he gave about a statement he allegedly made at a 2009 celebratory dinner. According to a news article written at the time and fellow ex-car czar, Steve Rattner, Bloom stated that he "did this all for the unions." Bloom denied making the statement while under oath. The congressional panel isn't buying it and has written a letter to Bloom requesting that he amend his testimony.Given Bloom's union background...
  • WH auto czar’s ‘I did this all for the unions’ comment, says it was a joke

    07/09/2011 5:09:00 PM PDT · by mandaladon · 16 replies
    The Daily Caller ^ | 9 Jul 2011 | Matthew Boyle
    President Barack Obama’s auto bailout czar Ron Bloom is under fire from the House Oversight Committee for a pro-union comment he reportedly made in 2009. David Shepardson, a reporter for The Detroit News, wrote in 2009 that Bloom told a dinner audience, “I did this all for the unions.” While testifying under oath at an Oversight subcommittee hearing in June, though, Bloom denied making those comments. Rep. Dan Burton, an Indiana Republican, asked Bloom about the comment. Bloom replied that he didn’t say it. So, Burton asked him if he thought he was “misquoted.” Bloom said “that’s correct.” Burton then...
  • House asks: Did Obama's auto bailout chief say, 'I did this all for the unions'

    07/08/2011 11:05:31 AM PDT · by MissesBush · 7 replies
    Washington Examiner ^ | 07/08/11 | Byron York
    Investigators for the House Committee on Government Oversight and Reform are asking the White House official who oversaw the government bailouts of General Motors and Chrysler whether he told the truth in recent testimony before the committee. Ron Bloom, Assistant to the President for Manufacturing Policy, is quoted in a 2009 newspaper account and a 2010 book saying of the auto bailouts that he "did this all for the unions." But when Bloom appeared before the committee on June 22, he flatly denied ever saying those words. Other White House officials have reportedly defended Bloom by suggesting that he did...
  • Former GM Vice Chair Blames “Management Incompetence” – Not UAW – for Detroit’s Demise (Video)

    07/06/2011 2:20:37 PM PDT · by Hojczyk · 26 replies
    Yahoo Finance ^ | July 6,2011 | Peter Gorenstein
    Now in retirement, Lutz is still as vocal as ever about cars and the auto industry. In his new book, Car Guys versus Bean Counters: The Battle for the Soul of American Business, Lutz documents what he believes was the greatest factor in the demise of the U.S. auto industry. No, it's not the unions (although that contributed). No, it's not uncompetitive wages compared to Asian manufacturers. His answer: "Management incompetence" Over the course of his career, "management became way too scientific, B-school oriented; way too cost focused; and it was almost considered childish to be to be enthusiastic about...
  • GM Spends Taxpayer Money to Lobby for More Taxpayer Money

    07/05/2011 9:06:45 AM PDT · by jazusamo · 16 replies
    National Legal & Policy Center ^ | July 5, 2011 | Mark Modica
    According to CNBC, General Motors has ramped up its lobbying efforts to the tune of $3.58 million in the first quarter of 2011. This is nearly triple the $1.36 million it spent in the first quarter of the prior year. It is also over double the $1.67 million spent by non-bailed out Ford in the same quarter. The $50 billion that taxpayers gave to bail out GM is now partially being distributed back to President Obama, Congress and a variety of agencies in an effort by GM to, well, receive more taxpayer money.One of the requests made by GM lobbyists...
  • Remember when getting a new car was a celebration, instead of being a stigma

    06/18/2011 3:20:59 PM PDT · by DallasBiff · 41 replies · 1+ views
    I noticed that a co-worker had gotten a new car while seeing each other in the parking lot and congratulated the person. The co-worker said "thank you", but stated that I shouldn't tell anyone else. The co-worker in my opinion felt they had a Scarlett Letter attached to them for buying not only a new car but an import model.
  • Obama falsely claims that GM repaid bailout… Again

    For the second time President Obama has falsely claimed that General Motors repaid the bailout they received from the American taxpayers. The first time Obama lied to the American people about GM repaying its loan was in April 2010. This past Saturday the president was at it again telling a crowd in Ohio “Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency.” Glenn Kessler does an outstanding job ripping the president apart at his blog the Fact Checker but the key to Obama’s argument are the words “during my presidency.”...
  • Bailed-Out GM Spends Millions on Phantom Carbon Offsets (w/animated video)

    06/06/2011 1:43:30 PM PDT · by jazusamo · 9 replies
    National Legal & Policy Center ^ | June 6, 2011 | Paul Chesser
    A report on the Businessweek Web site Thursday illustrated how Chevrolet, General Motors’ subsidiary which gets most of its media love these days over the hyper-sensationalized electric Volt, is building its “Green-cred” in ways other than by the vehicles it manufactures.But just as with the tax credit program for the Volt, in which dealers were discovered to be selling the vehicles to other dealers who then claim the $7,500 credit for themselves, all is not what it appears to be. The story is about a program Chevy announced late last year, in which the company promised to purchase carbon...
  • Obama Ballyhoos Auto Bailout as Economy Tanks

    06/03/2011 11:41:34 AM PDT · by jazusamo · 12 replies
    National Legal & Policy Center ^ | June 3, 2011 | Mark Modica
    Today's jobs' report raises worries that the US may be headed for a double dip recession. Jobs creation was much lower than expected and the unemployment rate rose to 9.1%. And where is President Obama? Traveling to Ohio to brag about how many jobs were saved by spending billions of taxpayer dollars to bail out the auto industry. Oh well, Nero fiddled, Obama campaigns. While Obama tries to convince the majority of people who will be voting in 2012 that auto bailouts are a wonderful thing, individual investors in General Motors should consider the specific risks the company faces...
  • GM's Capital Outlays Dictated by Politics, Not Economics

    05/13/2011 11:40:06 AM PDT · by jazusamo · 9 replies
    National Legal & Policy Center ^ | May 13, 2011 | Mark Modica
    General Motors recently announced a couple of more ways to freely spend taxpayer money. While GM boasts of "investing" in politically-correct "green" initiatives and makes misleading job "creation or preservation" claims, shareholders continue to be neglected as share price languishes below the IPO price. Although GM seems to dislike the nickname of "Government Motors", its actions belie the company's perceived desire to run a profitable, publicly-owned corporation. GM's latest efforts to appeal to the environmentally conscientious crowd involve the building of a solar powered plant in Michigan to build the Chevy Volt. The project will cost GM (as well...
  • The Worst Cars On The Road

    04/24/2011 3:43:16 PM PDT · by Nachum · 94 replies
    yahoo ^ | 4/24/11 | Hannah Elliott , Forbes
    When it comes to quality, efficiency, reliability, safety and overall value, these vehicles bring up the rear. By all accounts, Detroit's Big Three automakers have begun producing better-made, longer lasting, more efficient vehicles. It's a distinct change from the 1990s and early 2000s, when they fell behind their European and Asian counterparts in each category. "This change is not even a gradual thing," says Christine Overstreet, an automotive consultant and director of Heels and Wheels. "It's like they've said, 'OK, we really want to step it up, we really want to compete, we're ready.' After past years of being so...
  • Chevy Volt Suspected of Causing House Fire

    04/15/2011 1:12:12 PM PDT · by jazusamo · 85 replies
    National Legal & Policy Center ^ | April 15, 2011 | Mark Modica
    The quality and safety concerns continue to surface at General Motors as officials investigate the likelihood that a Chevy Volt started a fire in a Connecticut home that devastated the garage where the vehicle was being charged. This story was reported by a local Eyewitness News team on Thursday and has not received widespread media coverage. This follows a GM recall of the Chevy Cruze that was necessitated after a steering wheel broke off of one of the vehicles traveling at highway speeds and endangered the family traveling in the car. Regarding the Chevy Volt incident, I have yet...
  • UAW and GM Get Covert Bailout Through ObamaCare

    04/07/2011 10:25:30 AM PDT · by jazusamo · 2 replies
    National Legal & Policy Center ^ | April 7, 2011 | Mark Modica
    The Obama Administration continues to find ways to funnel taxpayer funds to General Motors and the UAW. A hidden bailout was recently uncovered buried within the Obamacare bill. This latest giveaway goes by the name of "Early Retiree Reinsurance Program" or ERRP for short. reported last week that the program was discovered by investigators for the House Energy and Commerce Committee. ERRP's price tag to taxpayers is $5 billion. The goal of the program is to provide subsidies to unions, states (for public employees) and corporations for health care coverage for retirees aged between 55 and 64. To...
  • UAW: We're Open To Lower Wages

    03/30/2011 3:05:27 PM PDT · by Nachum · 16 replies ^ | 3/30/11 | ap
    ORION TOWNSHIP, Mich. (AP) — The United Auto Workers union would be open to expanding a wage structure with lower-paid workers to keep General Motors Co. factories open or reopen closed plants, a top union official said Tuesday. Vice President Joe Ashton, who handles GM bargaining for the UAW, said the union "will look at anything when it comes to negotiations that will retain jobs." He made the comments during a press event at a factory in Orion Township, Mich., near Detroit, where at least 40 percent of the hourly workers will be paid about half the $28 per hour...
  • UAW President Bob King leads Bank of America protest in downtown Detroit

    03/25/2011 1:00:28 PM PDT · by PDMiller · 13 replies
    MLive ^ | 3/25/11 | Jonathan Oosting
    After wrapping up the three-day UAW collective bargaining convention at the Cobo Center, King and cohorts shut down the Bank of America branch for more than 30 minutes with chants including "money for schools, not for banks.
  • UAW Threat Looms as GM Struggles

    03/23/2011 11:36:46 AM PDT · by jazusamo · 21 replies
    National Legal & Policy Center ^ | March 23, 2011 | Mark Modica
    Four minute video of Cavuto and Modica at link As if General Motors did not have enough challenges to contend with, the UAW is now offering up some bellicose talk regarding upcoming labor contract negotiations. I discussed this issue last night with Neil Cavuto on Fox Business Network. UAW Local 900 Plant Chairman, Bill Johnson, states, "If they don't restore everything (union workers) gave up, the membership is going to knock it down. The bonuses that were just announced are just ridiculous." Union leaders are meeting this week to prepare for this summer's negotiations on contracts that expire Sept. 14th....
  • Auto Union Looks to Recover Concessions From Ford During Contract Talks

    03/21/2011 6:12:14 PM PDT · by jazusamo · 64 replies
    Fox News ^ | March 21, 2011 | Judson Berger/FoxNews
    Now that Ford is back in the black, the United Auto Workers union wants to recover the perks it gave up over the past few years as the auto giant teetered on the brink of bankruptcy. Rhetoric is flaring ahead of negotiations this summer for the UAW's next four-year contract. More than 1,000 delegates from the union are meeting in Detroit this week to strategize for those negotiations. The talks will encompass labor agreements with the Big Three automakers, but Ford's impressive profits may make the company a target for union representatives looking for a bigger share of the wealth....
  • Ex-Car Czar Acknowledges GM Problems

    03/16/2011 3:27:24 PM PDT · by jazusamo · 14 replies
    National Legal & Policy Center ^ | March 16, 2011 | Peter Flaherty
    VIDEO 3:02 minutes Appearing today on CNBC, Steven Rattner, the former head of President Obama's auto task force, made some surprising observations that undermine his previously articulated optimism about the future of bailed-out General Motors. Although he cleverly tried to lump Ford in with GM, he acknowledged GM's recent reliance on incentives to sell autos: And you now have in the marketplace a fear that GM is pushing the incentives a little too much in January and February. And nobody wants to go back to the old ways of doing business. The only problem is that GM has done exactly...
  • The Union, Not Day Care Providers, Is Getting the ‘Pay Cut’

    03/09/2011 1:14:47 PM PST · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 3/8/2011 | Michael Jahr
    UAW President Bob King has a unique perspective on day care worker “pay cuts.” During a press conference yesterday, King denounced Gov. Rick Snyder’s administration for ending the Department of Human Service’s practice of taking “dues” out of government subsidy payments that low-income families use to pay home-based day care providers. According to the Detroit Free Press, King described the governor’s action as part of an agenda “to destroy the middle class.” The truth is, many home-based day care providers around the state are rejoicing that their pay is no longer being reduced for public-sector “union dues” — especially since...
  • GM Shares Hit All-Time Low

    03/07/2011 3:09:10 PM PST · by jazusamo · 64 replies
    National Legal & Policy Center ^ | March 7, 2011 | Mark Modica
    General Motors' stock hit an all-time low today of $31 and change. That's right, "all-time." Today's GM is a new company that did not exist two years ago. In an effort to shed liabilities and force sacrifices from creditors while protecting the UAW, GM emerged from bankruptcy as a totally new company. The media inaccurately reported that GM had its best earnings since 1999, but it has not given a clear picture of the situation at GM. Biased media coverage is a story in itself, but let's look at why GM has not done as well as the pundits...
  • Government Motors By the Numbers

    03/07/2011 3:07:27 PM PST · by jazusamo · 12 replies
    National Legal & Policy Center ^ | March 7, 2011 | Peter Flaherty
    News coverage of General Motors over the past few weeks has painted an increasingly glowing picture, but here's a dose of reality: GM still has not repaid taxpayers for the bailout and it's looking less and less like taxpayers will ever be made whole. Unlike much of the media, we actually spent a considerable amount of time looking behind the press releases to see what GM's numbers really say about the health of a company taxpayers now own. This week, we will be sharing with readers a more realistic picture of the company's health. The bottom line: The picture...
  • Michigan Forces(home-based and self-employed) Business Owners Into Public Sector Unions

    03/02/2011 5:07:30 PM PST · by sbMKE · 9 replies
    Wall Street Journal ^ | DECEMBER 25, 2009 | PATRICK J. WRIGHT AND MICHAEL D. JAHR
    After hemorrhaging members for decades, labor unions have hit upon a new way to shore up their annual dues revenue. Michelle Berry runs a private day-care service from her home on the outskirts of this city, the birthplace of General Motors. Her clients are mostly low-income parents who need child care to keep their jobs in a city that now has a 26% unemployment rate. Ms. Berry owns her own business—yet the Michigan Department of Human Services claims she is a government employee and union member. The agency thus withholds union dues from the child-care subsidies it sends to her...