TCC'S DAILY EDITION: August 22, 2003
Caddy Escalade Has Highest Theft Rate
2002 Cadillac Escalade
Redefining a niche, reshaping a brand.
Cadillac May Build Euro-Specific Model
Spy Shots: '05 Cadillac STS by Hans Lehmann/Hidden Image (6/30/2003)
Replacing the Seville, one continent at a time.
GM Working Plants Overtime Over Blackout
General Motors will run some plants overtime this weekend so that it can make up for time lost to last week’s blackout. Reuters reports that 15 of GM’s 30 plants in North America will work overtime to recover lost production. The blackout of the east coast included southeast Michigan, and nine of GM’s plants were directly affected by the power outages. GM has resumed production across its network, though it did slow down builds in Ontario in response to a Canadian request that manufacturers move slowly to ramp up to prior power usage. GM has Ontario’s permission to run its plants overtime this weekend, a spokesperson told the news service.
Deal Close for Goodyear, Union
Goodyear is closing in on a new labor contract with its unionized work force, according to wire reports. The company is bargaining with the United Steelworkers of America on a new three-year contract that could help the company avoid a deeper financial crisis. The company has been fighting high production costs and has failed to capitalize on Bridgestone’s weakness during the Firestone recall of 2000. Goodyear is seeking labor force and cost cuts from its pool of 19,000 employees and fourteen U.S. plants. Union employees must accept the tentative agreement, which could be presented to them in a matter of days, Reuters reports.
UAW Tries Southern Union Gambit by Joseph Szczesny (8/11/2003)
Mass transfers of UAWers into Alabama and Georgia could be the union’s ticket to organizing southern auto plants.
Goodyear Closing Shop in Alabama?
As Goodyear tries to reach a new work agreemet with its union work force, the company’s Alabama tire factory may be on the chopping block. The Huntsvile, Ala., tire factory could be shuttered and 1100 jobs axed if the union agrees to a tentative pact with the United Steelworkers of America. The company and the union have been negotiating for five months on a new work agreement. The Alabama plant manufactures Dunlop tires.
Honda Recalling CR-V
Honda will recall nearly a quarter-million CR-V sport-utes for a transmission problem. The company will recall 247,000 2002 CR-Vs because a transmission cable could prevent the automatic gearbox from moving into park. The problem could lead to a vehicle rolling out of control. Reuters says Honda dealers will replace shift cables and install a control pin to correct the problem.
FROM THE SOURCE headlines from the latest press releases
Championship Auto Racing Teams, Inc. (NYSE: MPH) confirmed today that Robert D. Biggs has resigned from CART’s Board of Directors, effective August 20, 2003. In making his decision, Mr. Biggs cited personal circumstances.
In celebration of the 20th anniversary of the minivan, Chrysler has created a unique marketing program with the August 26, DVD release of New Line Home Entertainment’s The Lord of the Rings: The Two Towers(TM). Consumers who purchase specially marked packages of The Lord of the Rings: The Two Towers(TM) on DVD or VHS will receive a The Lord of the Rings Adventure Card(TM). The card provides a tailorable, interactive experience. Using a special PIN code, located on the Adventure Card(TM), consumers will be able to log on to http://www.lotradventure.com to access the exclusive content, which includes a $500 cash allowance towards the purchase of a new Chrysler Town & Country minivan. This special $500 offer can be used in addition to current Chrysler incentives through January 11, 2004.
|AMER AXLE & MANU||AXL||32.45||+0.55|
|BALLARD PWR SYS||BLDP||13.14||+0.36|
|FORD MOTOR CO||F||11.41||+0.19|
|HONDA MOTOR CO||HMC||20.94||+0.12|
|UNIT AUTO GRP||UAG||25.28||-0.17|
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