GM, Ford, Chrysler Credit Ratings May Be Cut by S&P (Update3)
Friday, June 20th, 2008Teamster Carhaul Negotiators Reach Tentative National Agreement
Thursday, June 19th, 2008
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Carhaul Local Union Leaders to Review Tentative Agreement on July 2
Leaders from local unions that represent carhaul members will meet July 2 in Detroit to review the tentative national agreement that was reached June 19.
Detroit News Auto Writer Bryce Hoffman and photographer John T. Greilick visited Brazil and Argentina to research this series on the South American auto boom and how it’s affecting lives in both hemispheres.
Ford’s most advanced assembly plant
operates in rural Brazil
Soon we will be voting on this Contract, what ever it is, and I will be running some polls if you are interested. This particular poll is open to all including guests. It can only be so accurate as we can not verify the Participants
Loading ...By Caroline Salas
June 20 (Bloomberg) — General Motors Corp., Ford Motor Co. and Chrysler LLC credit ratings may be lowered by Standard & Poor’s as higher gas prices inflict “financial damage” on the auto industry.
S&P placed the carmakers’ credit ratings, already five levels below investment grade, on CreditWatch negative, according to a statement today. New York-based S&P, a unit of McGraw-Hill Cos., said it may also downgrade their financing arms. While the carmakers will be able to pay their debts this year, their cash may shrink to “undesirable levels” by the end of 2009, S&P said.
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Despite Tough Economic Conditions, Leaders Address Members’ Concerns
June 19, 2008
Faced with a very tough economic environment, Teamster carhaul negotiators reached a tentative national agreement today with the National Automobile Transporters Labor Division in Detroit, Michigan that protects members’ job security and maintains their benefits over the contract’s three-year duration.
June 17, 2008: TDU NEWS
Today there is a hearing in Romulus, Mich. on seniority issues at some 15 locations. Teamsters from many terminals are attending the hearing.
PTS Teamsters in many areas are nervous because they have seen nonunion operators like United Road Service, Sierra Mountain and Accurate Auto Carriers hauling PTS’s former traffic. Mechanics, yard and office Teamsters are also concerned for their jobs. They were as much a part of the strike as the drivers.
Andrew Grossman
Automotive News
June 16, 2008 - 9:56 am ET
DETROIT — The nation’s second-largest vehicle hauler says it will stop all operations and go out of business.
Decreasing volume and rising fuel prices had driven Performance Transportation Services Inc. into bankruptcy twice in the past 2½ years. Last week, a Teamsters union strike against the company dealt the final blow.
Original Article | Last updated: June 15 2008 17:48
Saudi Arabia is considering boosting oil production to its highest level in more than 25 years in order to bring down record prices and ease political pressure from the US and other developed countries. (more…)
Mrs. John B. Dodd, of Washington, first proposed the idea of a “father’s day” in 1909. Mrs. Dodd …..
June 10, 2008
PTS announced today that it was shutting down, effective today, and Teamster carhaul negotiators are setting the record straight about the company’s demise.
“In its announcement, PTS suggested that our failure to accept its most recent proposal led to the closure, but nothing could be further from the truth,” said Fred Zuckerman, Teamsters Carhaul Director. “We learned this afternoon that PTS permanently closed its doors after its primary lenders, Black Diamond Capital Management, cut off access to its credit facility earlier this week.
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