The Canadian Auto Workers union recently suggested wage cuts for new workers at Detroit’s three large car manufacturers in the hopes of avoiding a strike next week, according to the union’s secretary-treasurer. Peter Kennedy also informed, however, that the union is expected to strike General Motors, Chrysler and Ford if negotiation talksfail.
He said the union will make a decision about which ones to target as the strike deadline, just ahead of midnight Monday, approaches. Kennedy said that the union was awaiting an answer Thursday to its most recent proposal that involves starting new staff off at a lower wage that would raise over time to the current salary in the plant.
Ford Motor Company(NYSE:F) was up on Thursday after a news that its third-generation hybrid system, which has new lighter, more efficient lithium-ion batteries, could decline the use of expensive, less-abundant rare earth metals by as much as 500,000 pounds a year. So far, the share price of its stock fell -2.54% in this year and stock’s price history revealed that beta was maintained at 2.32 and the percentage change in the price over the last fifty two weeks remained as -2.64%.
General Motors Company (NYSE:GM) gained after its ill-fated European arm, Opel, unveiled a plan to reduce its administrative staff by 30% or 1,000 jobs at its Ruesselsheim headquarters in Germany. Its shares rallied 16.08% so far in 2012. The stock percentage change in the price over the last fifty two weeks remained at 4.07%. The price range in that 1-year period had a best hit of $27.68 on Feb 17, 2012 while lowest level in the same period was $18.72 on Jul 25, 2012.
Tata Motors Limited (ADR)(NYSE:TTM) extended two-day rally after its luxury-car unit, Jaguar Land Rover PLC decided to invest 370 million GB Pounds (roughly $596.3 million) to upgrade and increase the production of its U.K. manufacturing facilities to meet rising demand for its vehicles.
To have a quick look on this stock’s price history, beta used to measure the volatility or systematic risk in comparison to the market as a whole was 2.32 and the percentage change in the price over the last fifty two weeks remained at 41.52%. The price range in those 52 weeks had a highest hit of $30.63 on Apr 19, 2012 while lowest level during that period was $14.33 on Oct 04, 2011.
Tesla Motors Inc.’s (NASDAQ:TSLA) shares moved up 3.22% in this year and its price history showed most recently beta was at 0.37. Overall during the last 12 months, the percentage change in the price was 14.26%, hitting the highest of $39.95 on Mar 27, 2012 while lowest level in that period was $22.64 on Jan 13, 2012.