Jaeger

Auto blog

Lundi 18 octobre 2010 à 10:53

Shares of auto parts makers rose Tuesday as the broader market advanced and an analyst suggested that another strong quarter was coming for the sector.
 
Citi Investment Research analyst Itay Michaeli said in a note to investors that most auto parts makers should have strong second-quarter results because of recovering global auto production and improved cost containment.
 
He suggested purchasing shares of Magna International Inc. and Lear Corp. ahead of their quarterly reports.
 
"We anticipate companies will affirm prior 2010 financial outlooks and perhaps even add an upward bias," Michaeli wrote.
 
Shares of Magna rose $2.78, or 4.1 percent, to $71.02 in afternoon trading, while Arvin Meritor Inc. added 98 cents, or 7.1 percent, to $14.85. Lear shares rose $1.62, or 2.4 percent to $68.60, while BorgWarner Inc. increased $2.26, or 5.7 percent to $42.12.

Samedi 25 septembre 2010 à 4:53

America’s workers today called on Honda to accept the demands of striking workers at its factories in China to improve wages and job promotion through “genuine and continuous collective bargaining with representatives of its front-line workers.”
 
In a joint statement, AFL-CIO President Richard Trumka and UAW President Bob King said:
 
The workers and consumers of America and the world will be watching Honda and other employers to ensure that Honda and other Chinese employers comply with core international labor rights, obey Chinese and international labor laws and bargain in good faith.
 
In the past few weeks, young auto workers Fog Lights have struck at various Honda system plants in China, protesting the low-wage system imposed by Honda and many employers in China.
 
 
Trumka and King praised the workers at a Honda parts plant in Foshan City, Guangdong Province, the first such strike. The line workers elected representatives to negotiate with the employer for wage increases. In the words of those elected representatives:
 
[Our] fundamental demands are…salary raises…for the whole workforce, including interns; improvements in the wage structure and job promotion mechanism; and, last but not least, restructuring the branch trade union at Honda Auto Parts Manufacturing Co. Ltd. Another fundamental demand… [is]…non-retaliation and no dismissal of workers participating in the strike.
 
Honda management at Foshan first tried to bully the workers with threats of reprisals, firings and even violence. Eventually, though, Honda was forced to negotiate directly with workers’ representatives at Foshan to get production back up.
 
As Trumka and King said:
 
Honda should immediately cease bullying workers, firing worker leaders, using interns and contract workers to degrade wage levels, and breaking strikes with scabs. All workers fired in the recent strikes should be reinstated immediately to their former positions.

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