With the Republican presidential hopefuls participating in a debate about jobs and the economy just a few miles from the city of Detroit, it was inevitable that the candidates would be asked about the federal bailout that saved GM and Chrysler — and Mitt Romney in particular.
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It’s been a good week for Chrysler. The United Auto Workers ratified the new collective bargaining agreement with nearly 55 percent of the vote and the company also announced a third quarter profit of more than $200 million.
Chrysler today posted a $212 million profit in the third-quarter,
Despite mixed results in the early voting, it appears likely that the United Auto Workers will ratify a new contract with Chrysler in the next few days.
Weeks after United Auto Workers members approved a new deal with General Motors, the union’s Ford workers ratified a new collective bargaining agreement with the only major American automaker not to go through bankruptcy in 2009.
The Detroit News reports:
The Senate Economic Development Committee, which is considering legislation to create a public authority to take bids on the new bridge, will hold hearings Tuesday and Wednesday and vote on the two bridge bills at the end of Wednesday’s session, said Mike Murray, chief of
Ford Motor Company and the United Auto Workers have reached an agreement on a new contract that includes significant signing bonuses and more jobs for autoworkers.
The United Auto Workers ratified the first new collective bargaining agreement with General Motors after 2009′s managed bankruptcy kept the automaker alive. The deal is good for four years.
With the UAW’s contracts with the Big Three automakers already expired and operating under an extension, it appears that General Motors will be the first to strike a new deal that gives back some of the concessions workers made to help the company survive bankruptcy in 2009.
President Obama spent Labor Day speaking to several thousand union workers at at General Motors’ headquarters at the Renaissance Center in Detroit, calling for an infrastructure project to create more jobs.
A new study by one of the leading auto industry analysis firms concludes that the American domestic automobile market will rebound to a full 16 million vehicles sold by the year 2013, a number that would be near the highest rates of the last decade.
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