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Thousands of Chrysler Workers Walk Out

DETROIT -- Thousands of Chrysler LLC autoworkers walked off the job Wednesday after the automaker and the United Auto Workers union failed to reach a tentative contract agreement before a union-imposed deadline, according to the Associated Press.

It is the first UAW strike against Chrysler since 1997, when one plant was shut down for a month, and the first strike against Chrysler during contract talks since 1985.

The UAW apparently is staying on the job at the five plants that Chrysler already had shut down this week because of sagging sales of some models, according to a person familiar with the walkout who asked not to be identified because the situation is in flux.

Posted by Peter C. T. Elsworth  at 11:39 AM to Chrysler , Unions | Permalink | Comments 0

One hour to go: Chrysler, UAW push the deadline

Detroit -- With an hour left before the UAW-imposed deadline to have a new labor agreement with Chrysler, the automaker and union kept negotiating this morning, pushing through with talks that have lasted approximately 24 hours straight, according to the Detroit Free Press.

UAW President Ron Gettelfinger Monday told his members that if “unless we have achieved the basis for a tentative agreement” by 11 a.m. today the union “will be left with no choice but to commence a strike at all UAW Chrysler facilities.”

Tom LaSorda, a Chrysler president and vice chairman, is leading the automaker’s negotiations with Gettelfinger at the Chrysler’s Auburn Hills headquarters.

Posted by Peter C. T. Elsworth  at 10:01 AM to Unions | Permalink | Comments 0

Union questions auto execs' pay packages

DETROIT — The United Auto Workers says it knows it needs to help Detroit's automakers cut labor costs to reduce the gap in production expenses with Asian rivals. But as talks continue on new contracts, the union also is questioning why top executives at the automakers are paid what they are, according to USA Today.

"As much as workers do, workers can't do enough, and as much as executives get, they cannot get enough," UAW President Ron Gettelfinger said during last month's two-day strike against General Motors.

During talks with GM, the UAW pointed out that while the automaker has complained that hourly wages and benefits are dragging it down, it has continued awarding bonuses to its top executives.

GM CEO Rick Wagoner earned $9.3 million in salary and bonus in 2006, nearly double what he earned in 2005.

Posted by Peter C. T. Elsworth  at 9:51 AM to Chrysler , Ford , GM , Unions | Permalink | Comments 0

Honda will present hybrid sports car at Tokyo show

Check out this hybrid with attitude.

TOKYO — Cars don't have to sacrifice looks to be environmentally friendly — they can be muscular and stylish, too, according to USA Today citing an Associated Press story.

That's the message Honda hopes to send at this month's Tokyo auto show with its new gas-electric hybrid sports car CR-Z.

"This is something rivals can't offer," Tetsuji Morikawa, a Honda Motor engineer, said of the CR-Z, whose sales date is promised for the "near future."

Posted by Peter C. T. Elsworth  at 9:44 AM to Honda | Permalink | Comments 0

Oil Prices Slip After Big Overnight Gain

VIENNA, Austria -- Oil prices slipped Wednesday in anticipation of increased U.S. crude inventory levels, after rising sharply in the previous session on U.S. government predictions that a colder winter ahead will help lift worldwide demand for crude during the fourth quarter, according to the Associated Press.

In a monthly report, the U.S. Energy Department's Energy Information Administration estimated global demand for oil will be 1.8 million barrels a day higher in the fourth quarter than it was during the same period last year. The report follows a prediction last Thursday from the U.S. National Oceanic and Atmospheric Administration that temperatures in the U.S. will be 1.3 percent colder than last year, although they'll be 2.8 percent warmer than average.

Oil prices have been volatile in recent days as investors have debated whether oil supplies are adequate to meet fourth-quarter demand. Some investors feel prices have peaked for the year and are due to begin a seasonal decline; others feel prices could rise again and set new records.

Light, sweet crude for November delivery fell 12 cents to $80.14 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. The contract rose $1.24 to settle at $80.26 a barrel Tuesday in New York.

Posted by Peter C. T. Elsworth  at 9:41 AM to Crude oil market | Permalink | Comments 0

Chrysler, UAW Talk As Deadline Nears

DETROIT -- Progress was reported as contract negotiations between the United Auto Workers union and Chrysler LLC extended into Wednesday morning, but several key issues remained unresolved with a strike deadline a few hours away, according to a person who had been briefed on the talks, according to the Associated Press.

Negotiators worked all night at Chrysler's Auburn Hills headquarters, and discussions continued well into the morning, said the person, who asked not to be identified by name because the talks are private.

The UAW set an 11 a.m. deadline for an agreement or have about 49,000 workers leave their jobs at 24 U.S. factories and other sites.

Posted by Peter C. T. Elsworth  at 9:35 AM to Chrysler , Unions | Permalink | Comments 0