State of the Union October 18, 2010

Oct. 18, 2010 online at www.uawlocal2250.com

Union Meeting is this Wednesday, Oct. 20. Meetings will be 1 pm, 3 pm and 15 minutes after the longest first shift line time.

From the CAP Committee: Robin Carnahan for Senator and Suzan Montee for State Auditor yard signs are available at the Union Hall. The CAP committee can get most other candidates signs if requested. You may also go on-line and request signs and literature from any candidates Home page.

From the Detroit Free Press: General Motors is clarifying comments made earlier this week by Chairman Ed Whitacre about the automaker's expected initial public offering. Whitacre told reporters in San Antonio on Wednesday that GM's IPO would take place sometime in November and shares would be priced from $20 to $25 each. GM says in a regulatory filing Friday that a price range for the offering has not yet been determined and will be disclosed only after it has been determined. GM says it can't predict whether the offering will be priced in November. The automaker says the statements attributed to Whitacre "were not intended."

From the Detroit News: General Motors Co. has asked banks underwriting its initial public stock offering to set aside 5 percent of common stock shares (or 25 million shares) for sale to more than 600,000 U.S. and Canadian workers, retirees and dealers, according to a Securities and Exchange Commission filing Thursday. Sources have previously told The Detroit News that GM plans to sell its shares on a 4-to-1 split to make it more affordable at an individual share price between $20 and $35.

From the Wall Street Journal: General Motors Co. said Friday it was recalling more than 300,000 Chevrolet Impala sedans because the seat belts may fail to restrain people in the front seats during a crash. The National Highway Traffic Safety Administration said on its website that the front-seat belt webbing may not be secured properly to a lap belt anchor on the side of the seat near the doors. The recall affects Impalas from the 2009 and 2010 model years. GM said 303,100 vehicles are in the U.S. and more than 19,000 are in Canada. GM said in a statement that it didn't know of any injuries or deaths connected to the recall. The Detroit auto maker told NHTSA that it had received 32 warranty reports with the seat belt conditions through mid-August.