The United Auto Workers (UAW),fully named International Union,United Automobile,Aerospace and Agricultural Implement Workers of America,is an American labor union that represents workers in the United States and southern Ontario,Canada. It was founded as part of the Congress of Industrial Organizations (CIO) in the 1930s and grew rapidly from 1936 to the 1950s. The union played a major role in the liberal wing of the Democratic Party under the leadership of Walter Reuther. It was known for gaining high wages and pensions for automotive manufacturing workers,but it was unable to unionize auto plants built by foreign-based car makers in the South after the 1970s,and it went into a steady decline in membership;reasons for this included increased automation,decreased use of labor,mismanagement,movements of manufacturing,and increased globalization.
The Board of Governors of the United States Postal Service is the governing body of the United States Postal Service (USPS). The board oversees the activities of the Postal Service,while the postmaster general actively manages its day-to-day operations.
Lazard Ltd is a financial advisory and asset management firm that engages in investment banking,asset management and other financial services,primarily with institutional clients. It is the world's largest independent investment bank,with principal executive offices in New York City,Paris and London.
The United Steel,Paper and Forestry,Rubber,Manufacturing,Energy,Allied Industrial and Service Workers International Union,commonly known as the United Steelworkers (USW),is a general trade union with members across North America. Headquartered in Pittsburgh,the United Steelworkers represents workers in Canada,the Caribbean,and the United States. The United Steelworkers represent workers in a diverse range of industries,including primary and fabricated metals,paper,chemicals,glass,rubber,heavy-duty conveyor belting,tires,transportation,utilities,container industries,pharmaceuticals,call centers,museums,and health care.
Steven Lawrence Rattner is an American investor,media commentator,and former journalist. He is currently chairman and chief executive officer of Willett Advisors LLC,the private investment firm that manages billionaire former New York mayor Michael Bloomberg's personal and philanthropic assets. He began his career as an economic reporter for The New York Times before moving to a career in investment banking at Lehman Brothers,Morgan Stanley,and Lazard Freres &Co.,where he rose to deputy chairman and deputy chief executive officer. He then became a managing principal of the Quadrangle Group,a private equity investment firm that specialized in the media and communications industries.
Detroit Assembly Complex –Jefferson,previously known as the Jefferson North Assembly Plant is a Stellantis North America automobile assembly factory in Detroit,Michigan. The plant is located adjacent to the Detroit Assembly Complex –Mack plant. Located on East Jefferson Avenue 6 miles (9.7 km) northeast of Downtown Detroit,near Grosse Pointe Park,the factory opened in 1991 as a major commitment to the downtown Detroit area by Chrysler,and was expanded in 1999,bringing its area to 2,700,000 sq ft (250,000 m2) and expanded again in 2011,bringing its total to 3,000,000 sq ft (280,000 m2).
Cerberus Capital Management,L.P. is a global alternative investment firm with assets across credit,private equity,and real estate strategies. The firm is based in New York City,and run by Steve Feinberg,who co-founded Cerberus in 1992,with William L. Richter,who serves as a senior managing director. The firm has affiliate and advisory offices in the United States,Europe and Asia.
Daniel Mark Tangherlini is an American government official who currently serves as a Governor of the United States Postal Service. He served as administrator of the U.S. General Services Administration from 2012 to 2015. Unanimously approved to the post by the U.S. Senate on June 27,2013,he had served as Acting Administrator since his appointment by President Barack Obama on April 2,2012. He earlier served as an executive in the U.S. Department of the Treasury,as City Administrator of Washington,D.C.,and as interim General Manager for the Washington Metropolitan Area Transit Authority.
In the United States automotive industry,the term Big Three is used for the country's three largest motor vehicle manufacturers,especially indicating companies that sell under multiple brand names.
Leo W. Gerard is a retired steelworker and Canadian and American labour leader. He was elected president of the United Steelworkers (USW) in 2001,becoming the second Canadian to head the union. He served in the role until July 2019. He also served on the Executive Council of the AFL-CIO.
The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession. The crisis affected European and Asian automobile manufacturers,but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of the Automotive Products Trade Agreement.
Beginning in the later half of 2008,a global-scale recession adversely affected the economy of the United States. A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009.
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
Chrysler LLC and 24 of its affiliated subsidiaries filed a consolidated petition for bankruptcy on April 30,2009,with the federal bankruptcy court in New York. The court filing occurred upon failure of the company to come to an agreement with its creditors for an outside-of-bankruptcy restructuring plan,by the April 30 deadline mandated by the federal government.
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11,Title 11,United States Code in the United States bankruptcy court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. to purchase the continuing operational assets of the old GM. Normal operations,including employee compensation,warranties,and other customer services were uninterrupted during the bankruptcy proceedings. Operations outside of the United States were not included in the court filing.
Indiana State Police Pension Trust v. Chrysler LLC was a lawsuit brought in United States federal court June 2009 by several pension funds against Chrysler LLC and the United States Department of the Treasury,to block the planned sale of Chrysler LLC assets to a "New Chrysler" entity in the Chrysler bankruptcy.
The history of Chrysler involves engineering innovations,high finance,wide alternations of profits and losses,various mergers and acquisitions,and multinationalization. Chrysler,a large automobile manufacturer,was founded in the 1920s and continues under the name Stellantis North America.
Motors Liquidation Company (MLC),formerly General Motors Corporation,was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31,2011,only to be carved into four trusts;the first to settle the claims of unsecured creditors,the second to handle environmental response for MLC's remaining assets,a third to handle present and future asbestos-related claims,and a fourth for litigation claims.
The Canadian auto industry is closely linked to the U.S.,due to the Automotive Products Trade Agreement and later the North American Free Trade Agreement (NAFTA),and is in similar trouble. Canada's 3,500 car dealers,which employ 140,000 people,told the federal and Ontario governments in mid-November they are at risk from the financial crisis;they are asking the national government to help out despite a record year of sales. Ottawa is considering providing financial aid to the Canadian subsidiaries of the Big Three,and possibly auto parts companies as well. The auto industry argued that loan guarantees and other help would try to save tens of thousands of Canadian jobs threatened by the sudden drop in North American car sales. Chrysler Canada has asked for $1 billion in aid,making it the only Canadian arm of the Big Three to make a specific dollar request.
