July 23, 2010 online at www.uawlocal2250.com
From Chairman Mike Bullock: We are now supplied with enough material to run through Tuesday. Also, an additional 4 members will be temporarily recalled Monday, July 26, which makes a total of 10. The seniority date to hold the plant is 2-16-2000 with a last four of 8400.
The 5th annual "Support our Soldiers" or SOS motorcycle ride will be Saturday,Aug. 14. Registration begins at 9 am at the Union Hall and the last bike will be out by 11 am. Cost is $20 per bike, $5 per passenger and $5 for each extra hand. The proceeds will benefit Care Packages by DRU and Operation Undergarment. For more information contact Mike Goodin at 636-327-5796.
From Automotive News: General Motors plans to file its registration for an initial public offering during the week of August 16, just after the expected date for its second quarter results, according to two people with direct knowledge of the preparations. By filing with the SEC in August, GM is aiming to complete its IPO before the November U.S. elections, according to the sources, who asked not to be named because the closed-door preparations remain confidential.
From Automotive News: Ford Motor Co. reported a second-quarter profit of $2.6 billion as U.S. vehicle sales rose 20 percent and the automaker continued to gain market share. Ford earned $2.1 billion on its core automotive operations during the latest period,compared with a year-earlier loss of $1.1 billion on that basis. In North America,Ford's automotive business earned a pre-tax operating profit of $1.9 billion, compared to a loss of $899 million a year ago. Ford cited higher sales and favorable pricing for the $2.8 billion swing in North American results. Ford ended the quarter with automotive gross cash of $21.9 billion, down from $25.3 billion at the end of the first quarter. The company attributed the decline to debt-reduction efforts and product-launch costs. Ford said its automotive debt fell to $27.3 billion from $34.3 billion at the end of the first quarter.
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