1.
Consumer Corner: Foreclosure settlement no magic bullet for economy
OTTAWA, May 18 (UPI) -- Union officials say General Motors and the Canadian Auto Workers resumed talks Monday, trying to cut employee costs so the company could get government help.
CBCNews.ca said the federal and provincial governments have told GM it would provide a $6 billion loan only if the company cuts costs. Union President Ken Lewenza said the talks have cut labor costs by $19 an hour per worker -- matching a deal at Chrysler -- but the company says costs have to be cut even more because of a $7 billion pension deficit.
A government-set deadline to reduce costs passed at midnight Friday, but the government has asked the two sides to keep negotiations going for a few days if they make progress, CBCNews said.
|
|
|
| Additional Business News Stories | |
SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
|
WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
|
Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
|
Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
|
| Stories | Photos | People | Comments |
View Caption
