UAW Membership down 14%
Gettelfinger's Pay up 4%
From the Detroit News: the UAW disclosed that its membership is now below 500,000 for the first time since World War II, now at 464,910, down almost 14% from last year. The union has lost 237,000 members since 2001.
Nevertheless, UAW financial coffers are doing quite well. The union earned $75.2 million in interest last year. UAW president, Ron Gettelfinger received a 4% raise. I have to admit though, that Ron did an excellent job in navigating the recent contract negotiations. He was probably underpaid at his 2005 salary of $150,763. Hmmm, that figure is awfully close to the salary of HE WHO SHALL NOT BE NAMED.
I don't think I need to tell you what these trend lines tell you for UAW-LSP attorney employment. It is therefore crucial that we hold out for severence pay in our next contract. We can't rely on transfers and attrition.
Friday, March 28, 2008
American Axle Strike Starting to Hurt GM
Lines to Screech to a Halt for the "Dogs of Lordstown"
Word came yesterday that the ongoing strike at American Axle threatens to shutdown its first GM car assembly factory. Up till now, the idled facilities built trucks and suvs, models that had excess inventory anyway. Now it's GM's small car factory that is facing the hurt.
The Lordstown, Ohio factory that builds the Chevrolet Cobalt and Pontiac G5 may soon shut down due to lack of brake parts. Apparently American Axle supplies a key part to a subcontractor that provides brake assemblies to the Lordstown plant.
The Cobalt and the G5 are not superstars. They are competent if unspectacular performers, but they are among GM's largest selling auto models, always in the top 10 in Canada. Demand for fuel-efficient models is increasing, and GM can ill-afford to lose the CAFE credits that the Cobalt/G5 provide.
Primary Source:thetruthaboutcars.com
Lines to Screech to a Halt for the "Dogs of Lordstown"
Word came yesterday that the ongoing strike at American Axle threatens to shutdown its first GM car assembly factory. Up till now, the idled facilities built trucks and suvs, models that had excess inventory anyway. Now it's GM's small car factory that is facing the hurt.
The Lordstown, Ohio factory that builds the Chevrolet Cobalt and Pontiac G5 may soon shut down due to lack of brake parts. Apparently American Axle supplies a key part to a subcontractor that provides brake assemblies to the Lordstown plant.
The Cobalt and the G5 are not superstars. They are competent if unspectacular performers, but they are among GM's largest selling auto models, always in the top 10 in Canada. Demand for fuel-efficient models is increasing, and GM can ill-afford to lose the CAFE credits that the Cobalt/G5 provide.
Primary Source:thetruthaboutcars.com
Wednesday, March 26, 2008
Holy Obradma Batman
Yesterday, the news story was that Hillary and Barack are related through Brad Pitt. Also, Hillary and Angelina are related. It had to happen, the composite pictures. Here's the Brad and Barack composite from the Prettyontheoutside blog. What, me worry?
Ford Completes Deal with Tata
Ford Motor Company (finally) announced that it has come to terms with Tata Motors on the sale of the Jaguar and Land Rover divisions. Ford will net about $1.7 Billion from the transaction. That's a small fraction of what Ford paid for these companies, and an even smaller fraction of the cash and development resources that Ford invested after purchase. Consider that it takes about $5 billion to develop one new model, it's clear that the $2.3 billion gross price was a fire sale.
Ford Motor Company (finally) announced that it has come to terms with Tata Motors on the sale of the Jaguar and Land Rover divisions. Ford will net about $1.7 Billion from the transaction. That's a small fraction of what Ford paid for these companies, and an even smaller fraction of the cash and development resources that Ford invested after purchase. Consider that it takes about $5 billion to develop one new model, it's clear that the $2.3 billion gross price was a fire sale.
Monday, March 24, 2008
Sirius and XM Merger Approved
The Department of Justice finally approved the Sirius and XM satellite radio merger. It may be years before the channel lineups are fully integrated. Current hardware is not compatible between the two services. I'm hoping for NFL Network access on XM next year though.
The Department of Justice finally approved the Sirius and XM satellite radio merger. It may be years before the channel lineups are fully integrated. Current hardware is not compatible between the two services. I'm hoping for NFL Network access on XM next year though.
Friday, March 21, 2008
Chris Elliot's Rocketman
Last Month, I posted a link to William Shatner's Rocketman. Here's Chris Elliot's cover of William Shatner's cover. As obscure as the Shatner
version is now, it was probably even more obscure in the early 90's
when Chris did this version on the David Letterman Show. Needless to
say, back in the early nineties, you had to work a lot harder to find
your clips ofShatner singing.
Last Month, I posted a link to William Shatner's Rocketman. Here's Chris Elliot's cover of William Shatner's cover. As obscure as the Shatner
version is now, it was probably even more obscure in the early 90's
when Chris did this version on the David Letterman Show. Needless to
say, back in the early nineties, you had to work a lot harder to find
your clips ofShatner singing.
Wednesday, March 19, 2008
From the "I don't want to go on the cart" file:
Ford Workers Saying No to Buyouts
What if you threw an early retirement party, and nobody came? That's the question being asked at Ford right now. The company just completed a force reduction buyout program, and apparently the results were below expectations. Whereas the 2006 buyout plan yielded 33,000 takers, the 2008 plan has so far netted fewer than 9,000 participants. This despite payouts of up to $140,000 per worker.
It seems that anyone who thought they had a future outside the company has already jumped ship. Many of the workers that Ford would like to see leave are handcuffed by a poor housing market. Property values in Greater Detroit have plunged amid record foreclosures. Many workers are upside down on their homes, and if they left, they would have to pay their lenders a big chunk of any lump sum they received from Ford.
Primary Source: Bloomberg News
Ford Workers Saying No to Buyouts
What if you threw an early retirement party, and nobody came? That's the question being asked at Ford right now. The company just completed a force reduction buyout program, and apparently the results were below expectations. Whereas the 2006 buyout plan yielded 33,000 takers, the 2008 plan has so far netted fewer than 9,000 participants. This despite payouts of up to $140,000 per worker.
It seems that anyone who thought they had a future outside the company has already jumped ship. Many of the workers that Ford would like to see leave are handcuffed by a poor housing market. Property values in Greater Detroit have plunged amid record foreclosures. Many workers are upside down on their homes, and if they left, they would have to pay their lenders a big chunk of any lump sum they received from Ford.
Primary Source: Bloomberg News
To Arms! To Arms! The Supreme Court Says it's OK
The Supreme Court heard oral arguments yesterday in District of Columbia vs. Heller, and it looks like they are bound to rule that the Second Amendment right to bear arms gives us the individual right to own guns. It's hard to say what the brave new world of gun ownership has in store for us, but here's the first sign: Guns for Lego toys. A company called Brickarms,www.brickarms.com, provides a comprehensive assortment of well-armed characters for your play world, but if you already have the figures, Brickarms can provide the guns.
Thanks to futuremusic.com for the initial info.
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