Wages and Pensions

Visteon transferring $350 million in pension assets to Prudential

1:40 pm U.S. ET | July 16, 2014
Visteon entered into an agreement to transfer a portion of its U.S. pension assets to Prudential Insurance of America as part of its ongoing restructuring....
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VW targets $6.8 billion in annual cuts to close profit gap with rivals

11:18 am U.S. ET | July 15, 2014
Volkswagen AG plans to cut costs and boost productivity at the VW brand by $6.8 billion a year by 2017 to lift sagging profitability. Efficiency gains have failed to keep pace with rising labor costs, CEO Martin Winterkorn said in an internal presentation to company managers....
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Wage gap rumblings confront UAW

12:01 am U.S. ET | June 9, 2014
New UAW President Dennis Williams said he planned to attack the wide compensation disparity between veteran auto workers and new hires during next year's contract negotiations with the Detroit 3....
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2-tier wages served a purpose, but not anymore

12:01 am U.S. ET | June 2, 2014
It's unlikely that the UAW and Detroit 3 can eliminate two-tier wages in the next round of contract negotiations. But labor and management should use the opportunity to whittle away at the inequities inherent in the wage system....
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Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday....
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PSA to cut executive pension packages, report says

March 20, 2014 13:04 CET
PSA/Peugeot-Citroen will cut the size of its executive pension packages, a French daily reported, months after public criticism forced former CEO Philippe Varin to turn down his pension....
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In Japan, Honda pegs wage hikes to profit despite government appeals

9:44 pm U.S. ET | Dec. 12, 2013
Honda Executive Vice President Tetsuo Iwamura said the Japanese automaker will set pay based on reaching profitability targets, rather than government directives on how fast to increase compensation....
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GM doesn't owe $450M in retiree medical benefits, judge rules

12:30 pm U.S. ET | Dec. 11, 2013
A federal judge said GM is not required to pay $450 million to cover medical benefits for retirees, in a defeat for the UAW that dates back to the automaker's Chapter 11 bankruptcy reorganization....
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French gov't has done Varin a big favor

8:30 am U.S. ET | Nov. 28, 2013
The uproar over departing PSA CEO Philippe Varin's pension package will benefit the executive in the long run....
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PSA boss Varin renounces pension deal after outcry

Nov. 28, 2013 09:43 CET
Departing PSA CEO Philippe Varin said he would forego his pension package after an outcry from government ministers and labor unions....
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For Hyundai, Korean factory footprint becomes a millstone

12:01 am U.S. ET | Nov. 10, 2013
It takes twice as long on average -- over 28 hours -- for Hyundai to make a car in South Korea than in the United States, even though its domestic plants have far more workers for each production line....
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Racing, tech events draw crowds to Hoffman stores

Racing, tech events draw crowds to Hoffman stores

Hoffman Auto Group holds more than 100 elaborate events annually to attract and retain customers. Some buyers zip around a racetrack in Porsches at 130 mph. Mon., October 27
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