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U.S. markets recover from steep losses
DETROIT, March 12 (UPI) -- Talks between American Axle & Manufacturing Holdings Inc. and the striking United Auto Workers union will continue Thursday.
UAW President Ron Gettelfinger criticized the company as negotiating on a "one-way street," The Detroit News reported.
"As long as they come to the bargaining table with the attitude that they're not going to negotiate -- that they're going to dictate -- we're not going to get an agreement," Gettelfinger said in a radio appearance this week.
Detroit-based American Axle is seeking to cut hourly wages by half for production workers to $11.50 and $14.50 an hour.
The company says it needs to cut costs to remain competitive.
"We're not asking for anything that the UAW has not given to many of our competitors, including Dana, Ford and Chrysler axle operations," said American Axle spokeswoman Renee Rogers.
The strike has forced General Motors to cut production or shut down 29 plants nationwide, but GM Chief Executive Rick Wagoner said the slowdown isn't hurting the automaker.
"We are losing some production for sure, but at this point, the impact on retail sales has been negligible because of the inventories and the rather weak market," Wagoner said Tuesday, speaking in Washington.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
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