The United Auto Workers union (UAW) has finally been successful in gaining back some of the significant concessions which were given to the Big Three of the Detroit carmakers in order to float through the financial crisis that hit in 2008 crisis.
To avoid a criminal prosecution over a lethal ignition-switch failure scandal, General Motors has agreed to pay $900 million in an agreement arrived at, with the Justice Department. However, it attracted criticism from different quarters like families of the affected and the safety advocates, for the Justice Department not bringing charges against responsible individual employees.
On Wednesday, some people with knowledge of the matter said that the Federal prosecutors have reached an agreement with GM to resolve a criminal investigation which was initiated to probe how the automaker bypassed the law by hiding a fatal problem which existed in some of the ignition switches installed in its small-car.
Tuesday night at a news conference the Fiat Chrysler Automobiles and the United Auto Workers union said that they have reached a tentative agreement. But the details were not brought in the open as the new contract that will be presented for voting by the members. Next, the union will seek to reach agreements with the other two of 'Big Three', GM and Ford.
On Saturday, Sergio Marchionne the CEO of parent company Fiat Chrysler Automobiles said that Amedeo Felisa, the Ferrari CEO will not leave his post prior to the luxury sports car manufacturer goes for its initial public offering that is scheduled later in the current year.
In a recent move, the Roads and Transport Authority’s, Dubai Taxi Corporation (DTC) signed contracts with seven Dubai schools and will be transporting approximately 2,500 students in their hundred and eleven school buses newly designed for the purpose. The services will start from the coming academic year 2015-16.
Tesla is a company that is not making just cars. It is exploring new technologies and developing relationship between several expertises that's innovative but might cost the company some large amount of cash. Though the approach is risky but it has strong potentials.
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