Wall RSS FeedTodays post April 30, 2008
Wednesday, April 30th, 2008| UAW STRIKE AT AMERICAN AXLE GM truck cuts may undercut UAW strike DETROIT — Deep cuts in light-truck production announced by General Motors on Monday have dealt a blow to striking UAW members at American Axle & Manufacturing Holdings Inc. With the cuts, American Axle can produce almost all the North American axles it needs for GM for the rest of year at its Mexican axle plant in Guanajuato, said a source familiar with the strike negotiations. That …  story |
GM posts $3.25 billion loss in Q1, stock rises
GMAC, Delphi and American Axle are costly problems
DETROIT — General Motors today lowered its 2008 sales estimate for the entire U.S. auto industry after it reported a net loss of $3.25 billion during the first quarter. The automaker posted a net loss of $42 million during the 2007 first quarter.
Slow U.S. vehicle sales, high fuel prices and a continued housing slump prompted GM to lower its projected U.S. industry sales from just over 16 … story
Strike’s toll on GM: 205,000 vehicles
Production to resume in Arlington, Texas, next week
DETROIT — The UAW’s 2-month-old strike at American Axle & Manufacturing Holdings Inc. will cost General Motors production of 205,045 vehicles in North America by the end of the week.
More than 30 GM assembly and parts operations, along with numerous supplier plants, have been slowed or idled by the walkout, which began at five U.S. American Axle plants Feb. 26.
GM said today that the … story
