General Motors Corp. may no longer be the world’s biggest automaker, but it still operates the country’s largest pension fund.
Tag Archives: automakers
U.S. seeks $16.4 million fine against Toyota
U.S. seeks $16.4 million fine against Toyota Federal safety agency hits Toyota with largest possible fine for a single reporting violation. More fines still possible. The Department of Transportation’s National Highway Traffic Safety Administration is seeking the maximum fine of $16.4 million against Toyota Motor Corp. for failing to notify the agency of a “sticky […]
Carmakers Hyundai and Kia See Gains in U.S. Market Share
While other automakers are closing plants in the U.S., Kia, which is controlled by South Korea’s Hyundai Automotive Group, is preparing to open a brand-new assembly plant in West Point, Ga., southwest of Atlanta. The $1.2 billion, 2.2 million–sq.-ft
Ford Motor: On the Road to Recovery
For many years, Ford Motor Co.
Amid Bankruptcy GM and Chrysler Retirees Face an Anxious Future of UAW Healthcare
The health care of thousands of retired auto workers is about to change: On Friday the membership of the United Auto Workers overwhelmingly approved a restructuring plan with GM, according to UAW president Ron Gettelfinger. The plan gives the union’s health care vehicle some promissory notes plus a 17.5% stake in GM and warrants to purchase another 2.5%. Assuming the deals survive bankruptcy court, and experts expect it will, the change marks a new direction in health care for GM retirees, and now puts them in much the same camp as Chrysler retirees.
How Good Are GM and Chrysler Warranties?
President Barack Obama made clear at his press conference on Monday that the U.S. government would stand behind warranties on cars purchased while the automakers restructure