Seek news on
InfoAnda
powered by
Google
Custom Search

Last text search :
2016 wso 2.5 rw-r
2017 #1 smp wso rw-r

wso-drwxr-xr-x-smp.php-(writeable).php
2017 #1 smp wso rw-r
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php


Monday, 27 April 2009 - Chrysler reaches labor deals in fight for survival
  • Pakistanis angry over detentions in Times Sq. case
    Monday, May 24, 2010
    ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
    They
  • Taiwan denies boycotting Australian film festival
    Thursday, August 6, 2009

    AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
  • Merkel's support dips, regional ally resigns International
    Thursday, September 3, 2009

    By Sarah Marsh and Noah Barkin

    BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
  • Minister seeks closure of anti-Berlusconi websites
    Wednesday, December 16, 2009
    ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
  • Asian markets mixed after Wall Street rally
    Wednesday, March 18, 2009

    By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
  • China suicide puts spotlight on secretive Apple culture | 23 July 2009
  • Suicide attacks kill seven Afghan military personnel | 19 December 2010
  • Gaza film-makers decry Hamas censorship | | 28 July 2011
  • Israel plays wargame assuming Iran has nuclear bomb | 17 May 2010


    ">Forum Views () ">Forum Replies ()

    Read more with google mobile : Chrysler reaches labor deals in fight for survival

    Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Africa Europe Latin America Middle East North America Search Search: Chrysler reaches labor deals in fight for survival By TOM KRISHER,AP Auto Writer AP - Monday, April 27 DETROIT - It looks like scrappy little Chrysler LLC might yet escape the auctioneer's gavel. ADVERTISEMENT The smallest U.S.-based automaker cleared two major hurdles on Sunday in its quest for survival, reaching a concession agreement with the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers. That leaves only two obstacles standing between Chrysler and up to $6 billion in additional loans from the U.S. government: A partnership deal with Italy's Fiat Group SpA and an agreement to swap equity for debt with banks and hedge funds that hold $6.9 billion in secured Chrysler loans. Details of the UAW deal weren't disclosed, but the union said it was crafted together with Chrysler, Fiat Group SpA and the U.S. government. That means the cost cuts have been blessed by the Treasury Department, which has been overseeing efforts to restructure Chrysler and its Detroit counterpart, General Motors Corp. It also means Fiat was heavily involved in negotiations, a sign that the Italian automaker is serious about taking a 20 percent stake in Chrysler in exchange for providing the Auburn Hills, Mich., company with small-car technology. Chrysler has been living on $4 billion in government loans and may get another $500 million to keep it alive through Thursday's deadline to restructure to the government's satisfaction. If it can't close the final deals, however, no more government money will be made available and the company almost certainly would be auctioned off in pieces under bankruptcy court supervision. For weeks, it appeared Chrysler might not be able to meet a deadline many in the industry considered impossible. But White House economic adviser Larry Summers said Sunday the Obama administration is holding out hope that Chrysler can avoid bankruptcy court. And two people briefed on negotiations with Fiat said the companies are close to signing a deal as long as debtholders agree to take equity in the company for a portion of the $6.9 billion they are owed. The people didn't want to be identified because talks have not been made public. The UAW late Sunday called the concessions painful but said the deal takes advantage of the Obama administration giving Chrysler and its workers a second chance. The administration in February rejected Chrysler's original restructuring plan, saying the company could not stand on its own and had until April 30 to make further cuts and take on Fiat as a partner. "The provisional agreement provides the framework needed to ensure manufacturing competitiveness and helps to meet the guidelines set forth by the U.S. Treasury Department," Chrysler Vice President of Labor Relations Al Iacobelli said in a statement. "As a result, Chrysler LLC can continue to pursue a partnership with Fiat SpA." Separately, Canadian Auto Workers President Ken Lewenza said their deal makes labor costs competitive with non-unionized Toyota in Canada. It will save Chrysler about $240 million a year Canadian (US$198 million) even though it doesn't cut base wages or pensions, amounting to the $19 Canadian (US$15) an hour in savings the company was seeking. The agreement eliminates Christmas bonuses, semiprivate hospital room coverage, certain drug fees and a one-time vacation buyout of $3,500 Canadian (US$2,885). It also reduces break times and vacation time. Meanwhile, debtholders, the company and the Treasury Department remain far apart on terms to swap equity in the company for much of the debt. A counteroffer to the debtholders from the Treasury is expected as early as Monday. UAW Vice President General Holliefield said in a statement that UAW members and retirees are being asked to make extraordinary sacrifices to help Chrysler become viable. "In order for the company to have a sustainable future, all stakeholders will have to show the same willingness to contribute to the common good that has been demonstrated repeatedly by our membership," he said. After rejecting the February plan, the government had said the UAW and Canadian Auto Workers unions must make further concessions, including the UAW taking equity in the company for at least half of a $10.6 billion payment into a union-run trust that will take over retiree health care costs starting next year. The UAW says its deal "meets the requirements of U.S. Treasury Department loans to the company," and includes changes to the health care trust. Details will be presented to local union officials from across the country on Monday, with voting to wrap up by Wednesday. "We recognize this has been a long ordeal for active and retired auto workers, and a time of great uncertainty," UAW President Ron Gettelfinger said in a statement. "The patience, resolve and determination of UAW members in these difficult times is extraordinary, and has made it possible for us to reach the agreement we will present to our membership." Fiat CEO Sergio Marchionne was in the U.S. as talks continued for the automaker to take a 20 percent stake in Chrysler in exchange for its small-car technology. The government has said it would be willing to loan Chrysler up to another $6 billion if it is able to complete its restructuring and ink the deal with Fiat. Fiat may build the small cars at Chrysler factories in the U.S., but they wouldn't arrive until late 2010 or early 2011, according to industry analysts. "We're hopeful that the negotiations, which have been proceeding with great energy, are going to conclude successfully," Summers said in an appearance on "Fox News Sunday." "You never know _ with any negotiation _ until the very end. There are some issues that have been worked out. There are some issues that remain to be worked out, but it's in everybody's interest to see these negotiations succeed and we're hopeful that they will." Also Sunday, General Motors Corp., which is living on $15.4 billion in government loans, said it will update its restructuring plan on Monday. Two people briefed on the plan said GM will scrap its storied Pontiac brand and shutter more factories than the five it said in February it would close. The factories' locations won't be disclosed, said the people, who asked not to be identified because the plan has not been made public. The plan will come as the company announces an offer to exchange up to $28 billion in GM bond debt for stock in the company. GM faces a June 1 deadline to restructure or head into Chapter 11 bankruptcy protection. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: World Moscow policeman opens fire in public, kills 3AP - 37 minutes ago Muslim calligrapher writes Luke's Gospel for popeAP - 43 minutes ago Suspected swine flu deaths in Mexico top 100AP - 48 minutes ago Turkey police in shootout with militant; 7 woundedAP - 50 minutes ago Ecuador's Correa appears headed for re-electionAP - 58 minutes ago Most Popular – World Viewed Obama dominates in first 100 days 'Golden Girls' Beatrice Arthur, dead at 86 Charred meat linked to pancreatic cancer risk $1 tln at risk in German banks: report Downturn hits Elton John, Paul McCartney View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

    Other News on Monday, 27 April 2009
    Ecuador votes, Correa expected to win easily | International |
    Karzai signed law not knowing contents: campaigners | International |
    Page Not Found |
    Beyonce's catfight thriller leads box office | Entertainment |
    Global concerns over flu outbreak, over 100 dead | International |
    Jailed U.S.-Iranian reporter said "very weak"
    Ecuador's Correa cruises to re-election victory | International |
    Iraq says U.S. raid violated security pact
    Radical cleric breaks off talks in Pakistan's Swat | International |
    Iraq PM: Deadly US raid 'breach' of security pact
    Global ministers warn of risk of rising poverty | International |
    Iraq: US raid 'crime' that breaks security pact
    Attenborough, Branagh honoured at Britain's Baftas
    Yemen frees ship, captures pirates | International |
    Iraq PM says can confirm insurgent leader arrest
    IMF, World Bank focus on aid for poor countries
    Iraq says U.S. raid violated security pact | International |
    Afghan blasts, shootings kill 14
    Button extends title lead with Bahrain GP win
    Darfur rebels get death sentence for 2008 attack
    Swine flu fears close schools in NY, Texas, Calif.
    US-TECH Summary
    Doctors urge baseline test for prostate cancer
    College Fest Partygoers Start Street Fires After Police Break Up Crowd In Ohio
    Facebook plans to give developers more access: source
    U.S. Announces Emergency Plan To Combat Swine Flu
    Doctors warn about camphor poisoning in children
    Tornadoes Hit Kansas, Missouri; Lightning Kills Motorcyclist
    Obama's e-government off to good start
    Study links ADHD medicine with better test scores
    An Error has occured |
    Robert Blake Nominated As New State Dept. Assistant Secretary For South Asia
    Qualcomm settles Broadcom dispute for 891 mln dlrs
    Qualcomm to pay Broadcom $891 million to settle litigation | Technology |
    Firefighting Plane Crashes In Utah, 3 Killed
    Chrysler reaches labor deals in fight for survival
    Two Men, Suspect, Shot in Virginia College Dorm
    Moscow cop kills 3, injures 6 in shooting spree
    Pediatricians adopt new term for shaken baby abuse
    Artist James Rosenquist's Home, Work Destroyed By Florida Wildfire
    Probable Mexico swine flu death toll
    Man Shot Dead After Killing 2 Florida Deputies
    Berlin religion referendum fails
    The Dalai Lama serves hope to SF homeless
    Clinton In Unannounced Visit To Lebanon
    Albania to lodge EU candidacy papers Tuesday: PM
    Kansas County Records 2 Swine Flu Cases
    Sheriff: Soldier killed 2 Fla. deputies in arrest
    US mulls informal talks with Cuba: report
    Priest, wife hacked to death in Indonesia: police
    China bans pork imports from Mexico, parts of US
    Radical cleric breaks off talks in Pakistan's Swat
    Graft charges dropped against Bangladeshi PM
    Flu outbreak closes theaters in Mexico | Entertainment |
    42 Vietnamese fishermen detained in Malaysia
    SKorean firm to start tours along NKorea border
    Ghost story scares up interest at Tribeca fest | Entertainment |
    China, Taiwan deals signal more cooperation
    TV ownership no bar to welfare, says Malaysia
    Sri Lanka troops in pre-dawn attack on Tigers
    NEC Electronics, Renesas to merge chip businesses
    Nearly 20 pct of Asia hedge funds close since '08
    Report: Filipino radicals help Indonesia brethren
    Japan chipmakers NEC Electronics, Renesas to merge
    US group appeals to China to avoid protectionism
    Japan's Sharp reports 1.3 bln dollar annual loss
    Saudis use soft touch to 'save' former militants
    Seoul shares end lower as banks, techs decline
    Chinese massacre movie reports strong opening
    World Bank, IMF say crisis becoming 'human calamity'
    Two French films win top prizes at LA festival
    Macau Sands casino up for sale: report
    Flu outbreak closes theaters in Mexico
    Controversial Vietnam mine project to proceed
    Philippines warns on hugs, kisses over flu fear
    Daihatsu suffers first profit fall in seven years
    Ghost story scares up interest at Tribeca fest
    Indonesian president's party backs his re-election
    Father of Jamie Lynn Spears' baby injured in crash
    Attenborough, Branagh honoured at Britain's Baftas
    Tyra to testify at alleged stalker's NYC trial
    'Obsessed' movie goers flock to Beyonce thriller
    Israeli official: Swine flu name offensive
    Abbas says won't recognise Israel as Jewish state
    Police kill leftist militant in Istanbul gunbattle
    Sri Lanka says combat gives way to rescue | International |
    GM to trade debt for stock to avoid bankruptcy
    Bin Laden could be dead, whereabouts unknown: Zardari | International |
    Abbas won't be pressured into talks with Israel
    Swine flu spreads economic shivers
    Police kill leftist militant in Istanbul gunbattle | International |
    British PM Brown in surprise visit to Afghanistan
    British insurer Aviva sales rise five percent
    Brown takes new strategy to Afghanistan, Pakistan | International |
    Five suspected militants killed in Afghanistan
    Weak U.N. nuclear watchdog eroding non-proliferation | International |
    US auto union strikes tentative deal with Chrysler
    No rejoicing for Israeli Arabs on Independence Day | International |
    Clinton tells nations US acting on climate change
    Study: SE Asia will be hit hard by climate change
    Court refuses appeal from reputed drug kingpin
    UK rules out government database of emails, phones | Technology |
    New York City Parochial School Closed After 8 Students Confirmed With Swine Flu, While 100 More Have Flu-Like Symptoms
    Pirate Bay lawyer files for retrial, cites bias | Technology |
    Pirate Bay lawyer files for retrial, cites bias
    Feds: Ga. shooting suspect's passport is missing
    President Barack Obama's Addresses National Academy Of Sciences, Pledges To Boost Science
    CDC Offers Steps To Avoid Getting, Spreading Swine Flu During Current Outbreak
    Apple "say on pay" motion approved by shareholders
    Clinton tells nations US acting on climate change
    Apple say on pay motion approved by shareholders | Technology |
    One In 50 Children Homeless In U.S.; Recession And Loss Of Jobs, Along With High Rents, Blamed
    Conficker virus begins to attack PCs: experts | Technology |
    FL Attorney General Extends Condolences To Families Of Slain Deputies
    GM to cut 21,000 US factory jobs, shed Pontiac
    FL Attorney General Warns Homeowners Not To Fall For Scams Related To Tainted Chinese-Made Drywall
    Cult leader escapes French island jail
    Facebook costs Swiss woman her job | Technology |
    FDA: Raw Alfalfa Sprouts Linked To Salmonella Contamination
    Father: US journalist jailed in Iran 'very weak'
    China Suspends Pig Product Imports From Mexico, Parts Of The U.S.
    Lavrov talk on EU eastern influence 'nonsense': EU
    CDC: Practical precautions can help avoid flu
    Most families allow media to cover fallen soldiers
    Ex-OC sheriff to get sentence on felony conviction
    Bats may be linked in Philippines Ebola cases
    Sri Lanka to stop airstrikes, shelling of rebels
    Afghan president promises change in marriage law
    Beyonce's catfight thriller leads box office | Entertainment |
    Taliban derides 'worthless' truce with Pakistan
    Sri Lankan army stops using 'heavy weaponry'
    Hong Kong woman tested for swine flu: official
    Taliban: Peace pact with Pakistan is 'worthless'
    Pakistani stocks down 3.6 pct; rupee flat
    British PM: Af-Pak border 'crucible of terrorism'
    Chinese bank ICBC says 1Q profit up 6 percent
    Southeast Asia prepared for swine flu outbreak: ASEAN
    Mitsubishi slips into red but sees return to black
    Khmer Rouge jailer: infamous regulations sign fake
    Sharp posts $1.3 bln loss as TV, gadget sales dive
    ANA to post smaller than expected loss
    Taiwan dollar down on swine flu, exporters absent
    German Allianz mulls partial sale of ICBC stake
    Japan says economy to shrink 3.3 percent this year
    Sharp posts 125.8 billion yen annual loss
    Edgar Allan Poe to be honored with Boston square
    Two killed in Georgia 'Star Academy' studio collapse: official
    Christian priest, wife killed in eastern Indonesia
    Acropolis museum to open in June: minister
    Beyonce's catfight thriller leads box office
    Greece at new risk of being pushed off euro
    Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
    Female Breasts Are Bigger Than Ever
    AMD Trinity Accelerated Processing Units Now in Volume Production
    The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
    AMD to Start Production of piledriver
    Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
    Islamists Protest Lady Gaga's Concert in Indonesia
    Japan Successfully Broadcasts an 8K Signal Over the Air
    ECB boosts loans to 1 trillion Euro to stop credit crunch
    Egypt : Mohammed Morsi won with 52 percent
    What do you call 100,000 Frenchmen with their hands up
    AMD Launches AMD Embedded R-Series APU Platform
    Fed Should not Ignore Emerging Market Crisis
    Fed casts shadow over India, emerging markets
    Why are Chinese tourists so rude? A few insights

    [InfoAnda] [Home] [This News]



    USD EUR - 1 year graph

    VPN on MacOSX

    BlogMeter 1.01