1.
Auto Outlook: Toyota bullish on U.S. comeback
ST. THOMAS, Ontario, Oct. 31 (UPI) -- Ford Motor Co. will close one of its Canadian assembly plants, wiping out 1,500 jobs there, union officials say.
The Canadian Auto Workers union conceded Friday it had little leverage to stop the closure of the St. Thomas, Ontario, plant -- which makes now-unpopular full-size cars, The Toronto Star reported.
CAW President Ken Lewenza also told the Star Ford has demanded pay cuts from workers or it would stop making new investments in its Oakville and Windsor, Ontario, plants.
Lewenza said the St. Thomas plant closure was part of a tentative three-year deal for concessions. He added the CAW would keep advocating for new models and expressed hopes that demand may still pick up, but the Star reported he wasn't optimistic.
About 7,000 Canadian workers were to vote this weekend on the deal, which reportedly freezes wages and cost-of-living allowances, reduces holiday time and demands higher payments for benefits.
|
|
|
| Additional Business News Stories | |
WASHINGTON, Feb. 14 (UPI) --
White House critics say raising taxes on domestic energy is bad policy, though supporters counter the U.S. budget addresses the energy sea change.
|
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....
|
President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
|
| Stories | Photos | People | Comments |
View Caption
