Tag Archives: labor

Motorsport

GM Expects $9.3 Billion Cost from New UAW Labor Deals

GM revealed in a business update that its new UAW and Canadian Unifor labor contracts will increase costs by $9.3 billion through 2028. Alongside this, the company announced $10 billion in stock buybacks and a 33% increase in stock dividends.

The new UAW contract, ratified in November with a 54.7% vote, includes a 25% pay increase and job security for union workers in the shift to electric vehicle production. This additional cost equates to about $575 per vehicle over the contract period, which expires in 2028.

The six-week UAW strike had an estimated $1.1 billion impact on GM’s earnings before interest and tax.

CEO Mary Barra stated that they are finalizing a budget to offset the incremental costs of the new labor agreements and are working on reducing the capital intensity of the business, developing products more efficiently, and further lowering fixed and variable costs. With a clear path forward and a strong balance sheet, the company aims to return significant capital to shareholders.

In a $10 billion buyback program announced on Wednesday, GM plans to repurchase and retire $6.8 billion worth of its common stock immediately, with the remainder to be bought back through 2024.

Additionally, GM announced a 33% increase in its common stock dividend, from nine cents per quarter to 12 cents per quarter, expected to take effect at the start of 2024.

Motorsport

This BMW-Powered Toyota Celica Is An Automotive Labor Of Love

Project cars require a lot of effort and dedication. The heavily modified second-generation Toyota Celica owned by Daniel Railean showcased in this video is an excellent example of how years of hard work can create a strong bond between a person and their vehicle.

Railean’s interest in Celicas was sparked when his brother owned one. He was supposed to inherit the car, but it broke down before that could happen. Years later, Railean found the same Toyota for sale on eBay and decided to invest his entire savings of 750 pounds ($918 at current exchange rates) to purchase it.


…
 BMW-Powered Toyota Celica

However, the car was in a poor condition with significant rust. Railean has since transformed it into a BMW-powered drift car over several years. The car features an engine from an E46-generation 323i and a rear end from a 2011 3 Series. In addition, the steering column comes from a Renault Clio.

Although Railean didn’t disclose the output of the BMW engine, the stock version produces 168 horsepower and 181 pound-feet of torque. These figures may not be impressive by modern standards, but they surpass the original Toyota 2.0-liter four-cylinder engine, which only produced around 100 hp. Furthermore, the valved exhaust on the current powerplant gives the car a distinctive, raw sound.

Railean faced challenges while working on the body of the car. For instance, he attempted to set up a paint shop in his shed, but his technique led a friend to take over the job out of frustration. Later, Railean opted to wrap many of the parts in carbon-kevlar.

The exterior design of the car is a mix of different inspirations. The tall rear wing was influenced by Railean’s admiration for the distinctive Porsches from Rauh-Welt Begriff. Additionally, the underbody neon was added because Railean liked the colorful look from the movie “The Fast and the Furious.”

Railean uses his classic Celica almost daily and often for drifting. The car attracts a lot of attention on the road, with bystanders approaching him to ask about the build. After putting in so much effort to create the vehicle, Railean appears to appreciate the recognition.

Motorsport

Historic Strike Launched by Nearly 13,000 UAW Workers Against Detroit Three Automakers

The United Auto Workers (UAW), the labor union representing workers in the US automotive industry, has initiated a significant strike against the three major American automakers: Ford, General Motors, and Stellantis. This marks the first time in the union’s 88-year history that it has simultaneously gone on strike against all three automakers.

Negotiations between the UAW and the Big Three automakers to extend the four-year contracts signed in 2019 have reached an impasse. Despite proposed raises of up to 20 percent, the talks stalled in the final hours, leading the union to refuse to sign a new deal. UAW President Shawn Fain dubbed the strike a “righteous fight” against the automakers.

In a livestream on Facebook Live shortly after the strikes began, Fain expressed that this strategy would keep the companies uncertain and provide maximum leverage and flexibility in bargaining. He encouraged UAW members to continue organizing rallies, protests, and other actions to demonstrate their readiness to fight for their rights.

The strike, named the Stand Up Strike, is targeting specific plants of Ford, General Motors, and Stellantis in Michigan, Ohio, and Missouri. As a result, the production of popular vehicles like the Ford Bronco, Jeep Wrangler, and Chevrolet Colorado has been significantly impacted. The UAW has been engaged in negotiations with all three automakers since late summer.

General Motors and Stellantis wasted no time issuing official statements minutes after the strike began. GM expressed disappointment in the actions of UAW leadership despite the unprecedented economic package it offered, which included historic wage increases and manufacturing commitments. Stellantis echoed similar sentiments, stating its extreme disappointment in UAW leadership’s refusal to engage responsibly in reaching a fair agreement for employees, families, and customers.

The strike is expected to continue at least into the weekend. If the current strategy does not yield a new agreement, additional plants across the country may be affected, intensifying the pressure on the automakers. While the initial strike targets plants of different companies, the union could potentially adopt a different approach and block all plants of a single manufacturer.

News

Watch the Fascinating Restoration of a Honda VFR400R’s Frame and Swingarm

Restoring classic motorcycles requires a great deal of time, effort, and expertise. Depending on the condition of the bike, a complete restoration can take months, or even years. Most people who restore bikes also juggle other responsibilities and may be working on multiple projects simultaneously.

RRC Restoration recently embarked on a restoration project involving a Honda VFR400 NC30. In a previous video, shared by Janaki in July, the bike was shown in its unrestored state. Now, RRC Restoration has posted an update on the project, revealing significant progress. The bike has been completely disassembled, leaving only the bare frame, subframe, and swingarm. The focus is now on restoring these essential components.

The video begins with the removal of the swingarm and wheel bearings. The VFR400 features a single-sided swingarm, which houses the rear wheel bearings. RRC Restoration employed a unique makeshift vapor blasting method to clean and restore the swingarm and frame. Although he has a vapor blaster in his workshop, it is too small to accommodate these large parts. Instead, he used glass beads, a siphon, and a pressure washer to eliminate all the grime and corrosion.

Once the swingarm and frame are completely clean, RRC Restoration proceeds to polish the parts and replicate the brushed aluminum finish. He achieves this by lightly scuffing the surface with a red Scotch-Brite pad, ensuring to move in one fluid motion and maintain a consistent direction. The parts are then painted with a matte ceramic clear coat to preserve their new appearance for an extended period.

In the following steps, RRC Restoration meticulously cleans and resprays the subframe. While waiting for the subframe to cure, he restores all the hardware by replating the bolts, screws, and fasteners. With all the components looking brand new, the swingarm is reassembled. A fresh set of wheel bearings, a new rear sprocket, and a chain guide are installed. The video concludes with an extremely satisfying before-and-after montage.

It is clear that there is still much work to be done before the bike reaches showroom quality. Nonetheless, the level of detail shown in RRC Restoration’s video sets high expectations for the upcoming restoration videos documenting this project. Motorcycle enthusiasts eagerly anticipate seeing the progress of this meticulous restoration.