April 4, 2013 online at www.uawlocal2250.com
From Automotive News: The UAW's total assets fell for the sixth straight year in 2012 while spending on political activities and lobbying nearly quadrupled from the previous year, the union's annual financial filing with the U.S. Labor Department shows. In 2012, the union reported assets of just over $1 billion, down 4 percent from the previous year, according to the filing dated March 29. Liabilities were roughly $7.7 million. The value of the UAW's investment holdings fell 8.3 percent, or nearly $65 million, to about $718 million. Under its president Bob King, who was elected in 2010, the union is trying to build membership at auto plants in the southern United States and expand into other areas including gaming, healthcare and higher education. Less than half of the UAW's nearly 383,000 members work in the auto industry. Last Thursday, the union reported its third straight year of membership gains. But the dues paid by workers in other industries is often less than what is possible in the auto sector. In the past, the UAW has sold assets and investments to pay for operations. In 2012, the UAW reported an increase in annual funding by 1 percent to $261 million. Funding from dues fell about 6 percent. The sale of investments and assets rose 13 percent. Cash disbursements were up 1 percent to $260 million. It included nearly $30 million spent on political activities and lobbying during a presidential election year. The union also wrote off the value of furniture and other equipment by about $38.5 million and its Black Lake golf course in northern Michigan by $1.8 million. The union opened the golf course during the SUV boom in 2000, when membership was about 672,000. The golf course is now worth $5.7 million, the UAW said. At its peak, UAW membership was 1.5 million in 1979. Auto workers at the Detroit 3 automakers represented about three-quarters of the membership in the 1970s. Now, workers from General Motors Co., Ford Motor Co. and Fiat's Chrysler Group account for about a third of the total.
From the Detroit News: General Motors Co. Chairman and CEO Dan Akerson said Thursday the automaker is closely monitoring tensions in Korea, has made contingency plans for employees and is thinking of moving production if tensions continue to rise. "Anything that goes on in Korea is important to our global production," he said during a live interview on CNBC's "Squawk Box" morning show. "If there were something that would happen in Korea, it's going to affect our entire industry, not just General Motors." Akerson said the company would consider moving production in Korea if the situation gets worse. Detroit-based GM has five plants in South Korea, which annually produce 145,000 units of domestic production and 1.3 million vehicles that are exported to other countries.
The UAW commends the Obama administration for proposing new fuel and tailpipe emission standards that will help ensure the U.S. auto industry remains the most advanced and competitive in the world. When combined with the already finalized CAFE standards, the American people can see the commitment of this administration to ensure we continue producing vehicles of the future. Upon full implementation, the proposed rule will reduce the amount of sulfur in our gasoline by two-thirds. This is one of the most cost-effective ways for us to get cleaner and healthier air while strengthening our domestic auto sector and creating thousands of new jobs. The proposed rule is a win for our economy and a win for public health. It is estimated to create thousands of jobs and will bring the U.S. standard in line with the standards utilized in California and countries around the world in helping to reduce air pollution. The UAW is proud to support the EPA’s proposed rule, and we urge its adoption.
General Motors Co. will invest nearly $332 million in four manufacturing sites to produce more fuel-efficient engines and transmissions, demonstrating GM's commitment to deliver what customers want: technology-driven performance and fewer trips to the pump. The investments – announced today at GM plants in Flint and Bay City, Mich.; Toledo, Ohio, and Bedford, Ind. – will support production of a new Ecotec small gas engine, a new V6 engine, 8-speed transmission, and tooling for an existing 6-speed transmission. GM also is increasing previously announced powertrain investment in plants in Romulus and Saginaw, Mich., to $646 million – an increase of $46 million – to support production of the new V6 engine. Since 2009, GM has announced nearly $1.8 billion of investments for the six Powertrain facilities. “We are investing in technologies and manufacturing capabilities that produce high-quality, fuel-efficient vehicles and components for our customers,” said Diana Tremblay, vice president of GM North American Manufacturing. “Today’s announcement demonstrates GM’s commitment to growing the business and strengthening the plant communities where we receive so much support.” Combined, the two investments will retain about 1,650 jobs at the six facilities. “The selection of these plants and the opportunity for the United Auto Workers to build the next generation of engines and transmissions reflects the great efforts of our work force,” said UAW Vice President Joe Ashton, who directs the union’s GM department. “This investment goes a long way to ensuring GM remains a marketplace leader and our members can continue to support and share in the company’s growth.”
The average transaction price for a new vehicle passed $31,000 last month and hit a near-record, according to calculations by shopping and research site TrueCar.com. Incentives fell slightly, and buyers picked cars and trucks with more accessories, TrueCar.com says. "Manufacturers continue to benefit from consumers' insatiable appetite for highly contented new vehicles," says Jesse Toprak, analyst for TrueCar. The average transaction price in March, according to TrueCar data, was $31,087, the second-highest in TrueCar's records. Highest was $31,228 last December. Transaction price calculations are meant to include everything -- such as taxes, license and paperwork fees -- in the out-the-door price. TrueCar estimated that the average incentive for new vehicles last month was $2,523, down $44 or 1.7% from a year earlier and unchanged from February. The combination of higher transaction prices, moderate incentives and strong sales should mean big profits for automakers when they report first-quarter financial results.
Tom Brune
UAW/GM Communications Coordinator
Wentzville Assembly
636-327-2119
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