Auto Union

14 Dec 18
Bank Checking Savings

Available nationwide to those currently looking for great savings rates, make sure you keep reading. Rhode Island Credit Union has wide array of products to meet your individual needs. They are proud to be a financial institution that is big enough to serve all your financial needs, yet small enough to care about how those needs are met. They currently offer standard […]

14 Dec 18
Toronto Sun

The union that represents 2,600 Oshawa General Motors plant workers has launched a campaign intended to push GM into reconsidering shut down of production by the end of 2019. But GM warns the union: don’t hold your breath. Unifor’s #SaveOshawaGM drive launched Thursday encourages the public to “show their support for Oshawa GM workers” by […]

14 Dec 18
Forward Observer

The National Intelligence Bulletin is a weekly look at domestic systems disruption, and threats to social, political, economic, and financial stability in the United States. This report is available each week for Intelligence subscribers. In this National Intelligence Bulletin… Private corporations take up the mantle of ideology discrimination Budget deadline and partial shutdown now one week out Social […]

14 Dec 18
Financial Post

—— GM says it has 2,700 jobs for workers slated to be laid off DETROIT (AP) — The General Motors’ massive 14,000-person layoff announced last month might not be as bad as originally projected. The company said Friday that 2,700 out of the 3,300 factory jobs slated for elimination will now be saved by adding […]

14 Dec 18
The London Free Press

London is home to one of the first three natural gas filling stations opened by energy giant Enbridge, part of a planned network along the nation’s busiest highway.

14 Dec 18
fox8.com

DETROIT (AP) — General Motors’ plans to lay off 14,000 salaried and blue-collar workers might not be as bad as originally projected. The company said Friday that 2,700 out of the 3,300 U.S. factory jobs slated for elimination will now be saved. Blue-collar workers will still lose jobs at four U.S. plants slated for closure […]

14 Dec 18
The Denver Post
DETROIT — General Motors’ plans to lay off 14,000 salaried and blue-collar workers might not be as bad as originally projected. The company said Friday that 2,700 out of the 3,300 U.S. factory jobs slated for elimination will now be saved. Blue-collar workers will still lose jobs at four U.S. plants slated for closure next year, but most will be able to find employment at other GM factories where jobs are being added. Some would have to relocate. GM still plans to lay off about 8,000 white-collar workers and another 2,600 factory workers in Canada. In November, the company announced plans to end production at the U.S. factories and one in Ontario as part of a major restructuring designed to cut costs and divert resources to development and manufacturing of trucks, SUVs and electric and autonomous vehicles. Legislators and President Donald Trump have hammered GM over the moves. While some of the 3,300 U.S. factory workers will retire, most of the rest will be offered one of 2,700 jobs the company plans to add at factories where production will increase, GM announced on Friday. Some would have to move to other cities for jobs. “Our focus remains on providing interested employees options to transition including job opportunities at other GM plants,” CEO Mary Barra said about the factory workers in a statement Friday. That still leaves the majority of the cuts hitting white-collar workers. A small number will be able to transfer to other openings, and those who can’t will get help in finding work elsewhere, the company said. Since the announcement, GM has faced withering criticism from Trump, legislators from affected states and the United Auto Workers union, largely over the plant closure plans. Trump has focused on a plant in Lordstown, Ohio, that’s slated to stop making compact cars on March 1. He has promised to return factory jobs to the U.S. and Ohio, a key state in his 2020 re-election campaign. GM is cutting six car models as buyers have dramatically shifted their preferences to SUVs and trucks, which will account for about 70 percent of new-vehicle sales this year. Just six years ago, that number was 51 percent, so now GM has too many factories making cars. The automaker’s attempt to close the factories still has to be negotiated with the United Auto Workers union, which has promised to fight back. Other factories that could go are assembly plants in Detroit and Oshawa, Ontario, and transmission plants in Warren, Michigan, and near Baltimore. Patrick Morrissey, a GM spokesman, said Friday’s job announcement had nothing to do with the criticism the company has been facing. The automaker, he said, knew some of the laid-off workers would be placed at other plants, but it didn’t know the number of jobs available until this week. “We have opportunities for just about everybody who wants them,” Morrissey said. Tommy Wolikow, 36, who was laid off from the Lordstown factory in January of 2017, said he would be interested in openings at a factory in Toledo, Ohio, and a plant in Tennessee. But he’s not happy about the prospect of moving. “I want to go back to Lordstown,” he said. “The last thing I want to do is uproot my family and leave my parents.” Under GM’s contract with the union, more senior active workers at the four factories targeted for closure will get first crack at transferring to another plant. There may not be enough jobs for workers with less seniority. Of the 3,300 factory workers slated to lose their jobs, 2,800 are active and 500 are on leave. In addition, there are about 830 who were laid off previously at the Lordstown and Detroit plants. Morrissey said the number of workers placed in new posts depends a lot on how many senior factory workers decide to retire. About 1,200 are eligible. Some workers also could decide they don’t want to relocate because of the distance. For instance, Toledo is the closest plant to Lordstown with jobs available, but it’s about 160 miles away. GM said jobs will be added mainly at truck and SUV plants including about 1,000 at a Flint, Michigan, factory that makes heavy-duty pickup trucks. The company wouldn’t release exact numbers but said several hundred will be added at each of four other assembly plants in Arlington, Texas; Bowling Green, Kentucky; Spring Hill, Tennessee; and Lansing, Michigan. In addition, jobs will be added at a transmission plant in Toledo, Ohio. Another 50 will be added at a casting plant in Bedford, Indiana. Despite Friday’s announcement, the criticism of GM continued from politicians and workers. Ohio Republican Sen. Rob Portman said the transfers may be helpful for employees who are willing to move, but many are unable to. He said in a statement that he will continue “to urge GM to do the right thing by these workers and bring new production to this plant.” Dave Green, president of the auto workers local at the Lordstown plant, says he’s still hoping the factory can stay open by getting a new vehicle to build. Although the job transfers will help laid-off workers, he said they will do nothing for the area of Northeast Ohio that has already been devastated by job losses over the years. Wolikow isn’t sure if he has enough time in with GM to get a transfer to another plant. He has found work as a diesel engine technician, but it pays $10 per hour less than the $28 per hour plus profit sharing that he’d be making if he was still working for GM. “It’s hard not to follow the money,” he said. “You know that you can make a great living, have a great career.”
14 Dec 18
STL.News

NEW YORK — Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain’s impeding departure from the European Union also darkened traders’ moods. The Dow Jones Industrial Average dropped as much as 563 points. On the benchmark […]

14 Dec 18
Las Vegas Review-Journal
#gallery-1470642-1 { margin: auto; } #gallery-1470642-1 .gallery-item { float: left; margin-top: 10px; text-align: center; width: 33%; } #gallery-1470642-1 img { border: 2px solid #cfcfcf; } #gallery-1470642-1 .gallery-caption { margin-left: 0; } /* see gallery_shortcode() in wp-includes/media.php */ FILE- In this Nov. 29, 2018, file photo trader Timothy Nick works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Friday, Dec. 14. (AP Photo/Richard Drew, File) NEW YORK — Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain’s impeding departure from the European Union also darkened traders’ moods. The Dow Jones Industrial Average dropped as much as 563 points. On the benchmark S&P 500 index, health care and technology companies absorbed the worst losses. Johnson & Johnson plunged by the most in 16 years after Reuters reported that the company has known since the 1970s that its talc Baby Powder sometimes contained carcinogenic asbestos. The company denied the report. China said industrial output and retail sales both slowed in November. That could be another sign that China’s trade dispute with the U.S. and tighter lending conditions are chilling its economy, which is the second-largest in the world. Meanwhile, purchasing managers in Europe signaled that economic growth was slipping.   _informq.push(['embed']); Sameer Samana, senior global market strategist for Wells Fargo Investment Institute, said investors are concerned that weakness will make it way to the U.S. They’re wondering if the U.S. economy is likely to run out of steam sooner than they had thought. “Market consensus has been that the next recession is probably in 2020 or beyond,” he said. Now, he said, the market is “really testing that assumption and trying to figure out whether it’s sooner.” The S&P 500 index lost 50.59 points, or 1.9 percent, to 2,599.95, its lowest close since April 2. The Dow retreated 496.87 points, or 2 percent, to 24,100.51. The Nasdaq composite slid 159.67 points, or 2.3 percent, to 6,910.66. The Russell 2000 index of smaller-company stocks fell 21.89 points, or 1.5 percent, to 1,410.81. December is typically the best month of the year for stocks and Wall Street usually looks forward to a “Santa Claus rally” that adds to the year’s gains. With 10 trading days left this month, however, the S&P 500 is down 5.8 percent. That followed a small gain in November and a steep 6.9 percent drop in October. Johnson & Johnson dropped 10 percent to $133 in very heavy trading. Its market value fell by $40 billion. Reuters reported that court documents and test results show Johnson & Johnson has known for decades that its raw talc and finished Baby Powder sometimes contained asbestos, but that the company didn’t inform regulators or the public. The company called the story “false and inflammatory.” In July the company lost a lawsuit from plaintiffs who argued that its products were linked to cases of ovarian cancer and mesothelioma. A St. Louis jury awarded plaintiffs $4.7 billion. Johnson & Johnson faces thousands of other lawsuits. For more than 20 years, China has been one of the biggest contributors to growth in the global economy, and when investors see signs the Chinese economy is weakening, they expect it will affect other countries like the U.S. that sell things to China. In Europe, the index of purchase managers fell in France, which is racked by protests, to a level that points toward economic contraction. Germany’s reading still pointed to growth, but it fell to its lowest level in four years. Those reports canceled out some potential good news on trade: the Chinese government announced a 90-day suspension of tariff increases on U.S. cars, trucks and auto imports. It’s part of a cease-fire that China and the U.S. announced earlier this month to give them time to work on other issues. Among technology companies, Apple dipped 3.2 percent to $165.48. Adobe skidded 7.3 percent to $230 after its fourth-quarter profit disappointed investors and it also forecast lower-than-expected earnings in the current fiscal year. Industrial companies sank as well. Boeing lost 2.1 percent to $318.75. Oil prices again turned lower, as a slower global economy would weaken demand for oil and other fuels. Benchmark U.S. crude fell 2.6 percent to $51.20 a barrel in New York. Brent crude, used to price international oils, dropped 1.9 percent to settle at $60.28 a barrel in London. European Union leaders rejected British Prime Minister Theresa May’s request to make changes to their deal covering Britain’s departure from the EU on March 29. British legislators aren’t satisfied with the terms May negotiated, and she canceled a scheduled vote earlier this week because it was clear Parliament wouldn’t approve it. Britain’s economy and financial markets across Europe face severe disruption without an agreement. European bond prices rose and yields fell. Both the British pound and the euro weakened. The pound slipped to $1.2579 from $1.2660 and the euro fell to $1.1303 from $1.1367. Germany’s DAX declined 0.5 percent and the CAC 40 in France declined 0.8 percent. Britain’s FTSE 100 fell 0.5 percent. Japan’s Nikkei 225 index slid 2 percent and the Kospi in South Korea lost 1.3 percent. Hong Kong’s Hang Seng was down 1.6 percent. Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.89 percent 2.90 percent. In other commodities trading, wholesale gasoline lost 3 percent to $1.43 a gallon. Heating oil fell 1.7 percent to $1.85 a gallon and natural gas dropped 7.2 percent to $3.83 per 1,000 cubic feet. Gold fell 0.5 percent to $1,241.40 an ounce. Silver dipped 1.5 percent to $14.64 an ounce. Copper was little changed at $2.77 a pound. The dollar fell to 113.29 yen from 113.60 yen.
14 Dec 18
Las Vegas Review-Journal
#gallery-1551340-2 { margin: auto; } #gallery-1551340-2 .gallery-item { float: left; margin-top: 10px; text-align: center; width: 33%; } #gallery-1551340-2 img { border: 2px solid #cfcfcf; } #gallery-1551340-2 .gallery-caption { margin-left: 0; } /* see gallery_shortcode() in wp-includes/media.php */ FILE- In this Nov. 29, 2018, file photo trader Timothy Nick works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Friday, Dec. 14. (AP Photo/Richard Drew, File) NEW YORK — Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain’s impeding departure from the European Union also darkened traders’ moods. The Dow Jones Industrial Average dropped as much as 563 points. On the benchmark S&P 500 index, health care and technology companies absorbed the worst losses. Johnson & Johnson plunged by the most in 16 years after Reuters reported that the company has known since the 1970s that its talc Baby Powder sometimes contained carcinogenic asbestos. The company denied the report. China said industrial output and retail sales both slowed in November. That could be another sign that China’s trade dispute with the U.S. and tighter lending conditions are chilling its economy, which is the second-largest in the world. Meanwhile, purchasing managers in Europe signaled that economic growth was slipping.   _informq.push(['embed']); Sameer Samana, senior global market strategist for Wells Fargo Investment Institute, said investors are concerned that weakness will make it way to the U.S. They’re wondering if the U.S. economy is likely to run out of steam sooner than they had thought. “Market consensus has been that the next recession is probably in 2020 or beyond,” he said. Now, he said, the market is “really testing that assumption and trying to figure out whether it’s sooner.” The S&P 500 index lost 50.59 points, or 1.9 percent, to 2,599.95, its lowest close since April 2. The Dow retreated 496.87 points, or 2 percent, to 24,100.51. The Nasdaq composite slid 159.67 points, or 2.3 percent, to 6,910.66. The Russell 2000 index of smaller-company stocks fell 21.89 points, or 1.5 percent, to 1,410.81. December is typically the best month of the year for stocks and Wall Street usually looks forward to a “Santa Claus rally” that adds to the year’s gains. With 10 trading days left this month, however, the S&P 500 is down 5.8 percent. That followed a small gain in November and a steep 6.9 percent drop in October. Johnson & Johnson dropped 10 percent to $133 in very heavy trading. Its market value fell by $40 billion. Reuters reported that court documents and test results show Johnson & Johnson has known for decades that its raw talc and finished Baby Powder sometimes contained asbestos, but that the company didn’t inform regulators or the public. The company called the story “false and inflammatory.” In July the company lost a lawsuit from plaintiffs who argued that its products were linked to cases of ovarian cancer and mesothelioma. A St. Louis jury awarded plaintiffs $4.7 billion. Johnson & Johnson faces thousands of other lawsuits. For more than 20 years, China has been one of the biggest contributors to growth in the global economy, and when investors see signs the Chinese economy is weakening, they expect it will affect other countries like the U.S. that sell things to China. In Europe, the index of purchase managers fell in France, which is racked by protests, to a level that points toward economic contraction. Germany’s reading still pointed to growth, but it fell to its lowest level in four years. Those reports canceled out some potential good news on trade: the Chinese government announced a 90-day suspension of tariff increases on U.S. cars, trucks and auto imports. It’s part of a cease-fire that China and the U.S. announced earlier this month to give them time to work on other issues. Among technology companies, Apple dipped 3.2 percent to $165.48. Adobe skidded 7.3 percent to $230 after its fourth-quarter profit disappointed investors and it also forecast lower-than-expected earnings in the current fiscal year. Industrial companies sank as well. Boeing lost 2.1 percent to $318.75. Oil prices again turned lower, as a slower global economy would weaken demand for oil and other fuels. Benchmark U.S. crude fell 2.6 percent to $51.20 a barrel in New York. Brent crude, used to price international oils, dropped 1.9 percent to settle at $60.28 a barrel in London. European Union leaders rejected British Prime Minister Theresa May’s request to make changes to their deal covering Britain’s departure from the EU on March 29. British legislators aren’t satisfied with the terms May negotiated, and she canceled a scheduled vote earlier this week because it was clear Parliament wouldn’t approve it. Britain’s economy and financial markets across Europe face severe disruption without an agreement. European bond prices rose and yields fell. Both the British pound and the euro weakened. The pound slipped to $1.2579 from $1.2660 and the euro fell to $1.1303 from $1.1367. Germany’s DAX declined 0.5 percent and the CAC 40 in France declined 0.8 percent. Britain’s FTSE 100 fell 0.5 percent. Japan’s Nikkei 225 index slid 2 percent and the Kospi in South Korea lost 1.3 percent. Hong Kong’s Hang Seng was down 1.6 percent. Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.89 percent 2.90 percent. In other commodities trading, wholesale gasoline lost 3 percent to $1.43 a gallon. Heating oil fell 1.7 percent to $1.85 a gallon and natural gas dropped 7.2 percent to $3.83 per 1,000 cubic feet. Gold fell 0.5 percent to $1,241.40 an ounce. Silver dipped 1.5 percent to $14.64 an ounce. Copper was little changed at $2.77 a pound. The dollar fell to 113.29 yen from 113.60 yen.
14 Dec 18
xenagoguevicene

Union-Made In America Holiday Gift Ideas . It’s not too late yet to find that perfect holiday gift that carries a union label and is made in America. Below is a wide range of gift possibilities, from clothes to games to sports equipment and more, made by members of UNITE HERE, Boilermakers (IBB), Bakery, Confectionery, […]

14 Dec 18
Daily Republic

By David J. Lynch, The Washington Post WASHINGTON -After almost a year of going it alone, President Donald Trump finds himself with a surprising weapon in his trade confrontation with China: allies. Pressure from Europe and Japan is amplifying the president’s vocal complaints about Chinese trade practices that he says discriminate against foreign companies and […]

14 Dec 18
oaklandsocialist

Now out: The 2019 Workers Hella Revolutionary Calendar: a reminder of who we are and what we’ve done, for a better outlook during these difficult times. Oaklandsocialist has put together the 2019 workers hella revolutionary calendar. It commemorates the dates you will want to remember. If you scroll all the way down, you will find […]

14 Dec 18
New and Used Car Reviews, Comparisons and News | Driving

The union representing the workers is calling re-training attempts a distraction

14 Dec 18
Andre Eger

Tesla employees at the company’s solar panel factory in Buffalo will hold a union organizing drive, the United Steelworkers (USW) and International Brotherhood of Electrical Workers (IBEW) said on Thursday in a press release. The unionization effort will involve production and maintenance employees. “Ultimately, it’s up to our employees to decide if they want to […]