Detroit

Ford Union Workers Reject Company's Efforts to Reduce Labor Costs

Ford Union Workers Reject Company's Efforts to Reduce Labor Costs

Crushed under the current financial situation, more and more companies are now looking to cut costs wherever possible, and so did Ford Motor Co., when it proposed contract changes to its union work

GM to sell cars via EBay starting Tuesday

General Motors Corp

Detroit-based General Motors Corp and online market place eBay Inc are believed to make an announcement on Monday, August 10, regarding a program in California, which will allow consumers to negotiate prices for new cars online.

GM sets July 10, 2010 as target date for its IPO offering

General Motors

In its regulatory filing on Friday, the new General Motors (GM), majority-owned by the US Treasury, has given July 10, 2010 as the target date for its intended initial public offering (IPO) of stock - the date marks the one-year anniversary of the Detroit-based automaker's exit from bankruptcy, after having filed for bankruptcy protection in June.

GM buyout offers falls 7,500 workers short of its target

General Motors

As many as 6000 hourly blue-collar workers at General Motors have accepted buyouts and early retirement offers and left the firm.

Nevertheless, Detroit-based GM may have to hack more hourly jobs as its buyouts and early retirement offers fell around 7,500 workers short of its target.

Chrysler Reverses Its Plan To Sell Viper Business

Chrysler

In an astonishing move, Chrysler Group LLC has announced that it would not sell off its V-10 powered Dodge Viper sports car business and would carry on manufacturing and selling Dodge Vipers.

Earlier in August 2008, Chrysler, the producer of Viper, a high-priced limited production performance car, had put the Viper business up for sale.

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