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The 2010 Union-Made Vehicles List Now Available

Some offshore brands are actually union made.

by on Sep.18, 2009

Look for the union VIN?

Look for the union VIN?

UAW members working in the domestic auto industry, said UAW President Ron Gettelfinger, “are pleased to see a recent Consumer Reports survey, which shows that four out of five new car buyers are likely to consider an American brand when purchasing a vehicle.

The UAW has prepared  a list of 2010 union-made cars, trucks, pickups, vans, CUVs and SUV to help them when shopping..

Union-made vehicles have been recognized repeatedly for quality achievements by industry analysts such as J.D. Power and the University of Michigan Consumer Satisfaction Survey. The problem is that while quality has been improving and people say they will consider domestic products, the majority of actual purchases go to off-shore nameplates, some of which are built in North America in non-union plants.

The last offshore-operated unionized plant, Toyota’s New United Motors Manufacturing Inc., is in the process of being closed, after General Motors and the Japanese company couldn’t reach an agreement on how to keep it operating.

“When customers visit the showroom to look at vehicles made by our members, they’re going to find top-quality cars and trucks in every price range and in every product category.”

Union autoworkers, he said, make vehicles for U.S., European and Asian-based manufacturers, including hybrids, clean diesels and energy-saving advanced transmission and flex-fuel models.

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Gunfight Looming Between Politicians, Banks and Treasury at the Chrysler Corral

Secured debt might not be so secure if the government forces bankruptcy or politics intrude.

by on Apr.23, 2009

Is Citibank being a piggy bank in its demands for worthless Chrysler bonds?

Are Citibank and others being piggy banks by demanding too much for worthless Chrysler bonds?

Chrysler LLC’s creditors will have to make a judgment soon on whether they accept an offer to exchange their debt for equity in the company for pennies on the dollar or risk a political showdown over whether to force the company into bankruptcy.

Michigan’s Democratic Governor Jennifer Granholm and the state’s Republican Attorney General in a rare agreement have in recent days characterized the battle over debt and bankruptcy as a struggle between Wall Street and Main Street. Cox has accused Steve Rattner, the head of President Obama’s Auto Task Force of favoring a Wall Street-oriented solution at the expense of small businesses, retirees and workers in Michigan.

Rattner has a New York banking and financial services background, and Rattner himself is under investigation for bribing New York politicians to secure lucrative pension fund management contracts for his firm.

Chrysler’s creditors have proposed forgiving a very small part of their stake in return for as much 40% of the equity in a reorganized Chrysler. In addition, the creditors also are asking Fiat, Chrysler’s potential Italian partner, to invest cash in Chrysler. So far, Treasury has countered with far less cash, about $1 billion, and only 5% of the equity in the re-organized company. Expect this to go back and forth right  down to the deadline. (more…)