Nov. 15, 2010 online at www.uawlocal2250.com
State of the Union will return on Wednesday, Nov. 18
Union meeting is Wednesday, Nov. 17, at 1 pm, 3 pm and 15 minutes after the longest first shift line time.
Attention All Veterans: There will be a Veterans Town Hall Tuesday, Nov. 16 from 6:30 pm – 8:30 pm. There will be guest speakers to address current Veteran issues and representatives from the Dept. of Veterans Affairs Health and Benefits Administrations, as well as various Veteran Service Organizations, to answer your questions. The town hall will be held at the Millennium Student Center at the University of Missouri-St. Louis, Century Rooms A & B. Address is One University Boulevard, St. Louis MO, 63121.
From the Detroit News: General Motors may sell more stock than initially planned, at a higher price than expected, because of strong investor demand, people briefed on the matter said Friday. The per share price could be $30 or more, exceeding the $26 to $29 range GM set less than two weeks ago, a sign that the market is bullish on the Detroit's automaker's return to the public markets. So far, demand is more than five times the 365 million common shares that are available, the sources said. That means many investors, including thousands of employees, retirees and dealers who have signed up to buy stock, are likely to get fewer shares than they are seeking. With demand running high, GM's underwriters plan to exercise an option to sell as much as 15 percent more shares in the initial public offering, bringing the total to 419.8 million common shares and 69 million preferred shares. Matt Therian, a research analyst at Renaissance Capital in Greenwich, Conn., which tracks IPOs, said it isn't unusual for IPO pricing to end up higher than initially planned when a company sets a price range before heading out to generate interest from investors. About 40 percent to 60 percent end up in the target range, but the rest are eventually priced higher or lower, he added. Analysts have said GM's $26 to $29 per share price range is low, compared to estimates of the company's market value.
From CNN Money: General Motors will unveil a hybrid version of its popular Buick LaCrosse sedan this week at the Los Angeles Auto Show. But don't expect GM to call it a hybrid. The new car, which uses a 4-cylinder engine and a lithium-ion battery pack, is expected to get 37 miles-per-gallon on the highway and 25 mpg in the city. Compared to the current 4-cylinder LaCrosse, the hybrid will provide roughly 25% to 30% better fuel economy. This new version will go on sale for the 2012 model year, replacing the non-hybrid 4-cylinder LaCrosse. Customers will then be able to choose either a 6-cylinder LaCrosse or the hybrid car, both starting at about $30,000, according to GM executives. GM won't call the car a hybrid, however, even though the term fits. Instead, the automaker is calling the fuel-saving system used in the new LaCrosse "eAssist."
From the Wall Street Journal: For the past three decades, Japanese auto makers Toyota Motor Corp. and Honda Motor Co. have experienced almost uninterrupted success in the U.S., their market share rising as they built plants, expanded their model lines and were held up, usually in tandem, as the industry's benchmarks for quality. Now, as a result of Toyota's recall crisis earlier this year and the narrowing quality gap by rival auto makers, their long run in the driver's seat appears ready to come to an end. Barring a surge in sales in the last two months of this year, both Honda and Toyota are likely to suffer drops in their U.S. market share. Through the first 10 months of 2010, Toyota's share is down 1.5 percentage points at 15.2%, according to Autodata Corp. So far this year, Honda's U.S. share is down six-tenths of a point at 10.6%. The last time Toyota's and Honda's market shares failed to rise was 1998, when Toyota's was flat at 8.7% and Honda's fell just one-tenth of a point, to 6.4%, at the height of the sport- utility vehicle boom, before they resumed their march upward.
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