Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.
The U.S. auto industry is about to go on a hiring spree as car makers and parts suppliers race to find workers to build the next generation of vehicles.
When Fiat CEO Sergio Marchionne took over Chrysler in 2009, it was considered a forgone conclusion that, eventually, he'd take the company public in an initial public offering. But now, Marchionne says the odds of an IPO are merely 50-50.
In this economy, many Americans feel grateful to have jobs in the first place. The nation's high unemployment rate makes recent video of some of Chrysler's unionized workers drinking and smoking pot on the job all the more galling. It's time for unions to stop protecting slacker employees.
When Ford awarded CEO Alan Mulally more than $50 million in compensation for 2010's record profit it raised eyebrows around Detroit. Now, the UAW is using that big payday as a rallying point for members as it starts negotiations to regain some of what autoworkers gave up in concessions during the downturn.
Less than two years after they exited bankruptcy, Chrysler Group and General Motors will soon distribute bonuses to salaried employees in recognition of their efforts to help revive the once-flagging Detroit automakers. The payout is likely to anger the companies' unionized workers.
Union employees at Chrysler Group will receive a $750 bonus next week as an acknowledgment of their contributions in helping to revive the once-bankrupt company, the automaker said Monday. Salaried workers, excluding the company's top 50 executives, will also receive the payment.
Analysts forecast that Ford will announce a profit of 48 cents a share on revenue of about $30.6 billion when it releases earnings on Friday. That translates into an expected pretax profit of $8 billion in 2010, the best Ford has seen since 1999.
Ford will overhaul its Kansas City, Mo., plant, saving some 3,750 jobs at the facility, which was in danger of closing.
'Changed' UAW Pushes to Unionize Foreign-Owned Auto Plants in the U.S.
In a bid to reduce its numbers of skilled workers, General Motors is reportedly offering skilled-trades workers a $60,000 buyout to leave the automaker's payroll by March.
General Motors reported Wednesday that it earned $2 billion in the third quarter, marking its most profitable quarter yet since emerging from bankruptcy last year.
General Motors plans to invest $190 million in its Lansing Grand River assembly plant where it will build a new Cadillac model, resulting in 600 new jobs and the addition of a second shift.
Though vehicle sales have underperformed some analyst expectations in recent months, results are much improved compared to those of a year ago. The industry is seeing a broad trend that is benefiting nearly all automakers.
GM is expected to announce the production of a new compact car for Buick -- the Verano. The upscale sedan will be assembled in a former Pontiac plant in Orion Township, Mich., helping to restore 1,200 jobs at the facility.
If the recession and subsequent high employment proves anything, it's this: The scarcity of jobs hasn't made workers any smarter. Just-fired CNN anchor Rick Sanchez is a good example. Unfortunately, he's hardly the only one.
Elected president of United Auto Workers union on June 16, King must reintroduce the union to the many Americans who have an unfavorable view of unions. Then, there's the matter of rebuilding membership by targeting foreign makers' U.S. plants.
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