“TheStar.com | Canada | Clement praises autoworkers for wage, pension ... - Toronto Star” plus 4 more

TheStar.com | Canada | Clement praises autoworkers for wage, pension ... - Toronto Star
Is Goldman’s Chinese convertible really a taxi? - Reuters Blogs
Linamar Corporation Receives Funding From the Federal Government - Market Wire
STMicroelectronics Names Paul Grimme Corporate VP, General Manager ... - MSN Money
San Pedro Auto Repair and Service Center Expands Expertise - PR.com

TheStar.com | Canada | Clement praises autoworkers for wage, pension ... - Toronto Star

Posted: 21 Sep 2009 03:22 PM PDT

Richard J. Brennan
OTTAWA BUREAU

OTTAWA – Industry Minister Tony Clement is praising autoworkers for helping make Canada's struggling auto industry more competitive.

Clement's comments come after workers at Ingersoll's CAMI plant — a joint venture between GM and Suzuki Motor Co. — agreed to freeze their wages for four years and their pensions for almost eight years.

"The (Canadian Auto Workers union) has come to the table and has made meaningful concessions and it will allow these plants to be cost-competitive. You've got to give credit where it is due, because it is always tough to either freeze (wages) or take away benefits," he told the Toronto Star today.

It's a far cry from the criticism levelled at autoworkers by the Conservative government when GM and Chrysler appeared on the verge of bankruptcy this spring. (The parents of both companies went into bankruptcy protection in the U.S.)

Clement said Ottawa and Ontario made it clear from the outset in this country's $3.3 billion auto-bailout package that wages had to come down so the companies could compete with foreign-based competitors such as Toyota and Honda.

CAW President Ken Lewenza said it's nice to hear but he's not sure Clement is being honest in his praise.

"I don't think he means it," he said, adding that wages were never the issue when it came to the viability of the two companies.

"We have proven to them (the federal government) that you could actually work for nothing and the situation would have been the same," he said.

More than 2,500 workers make the popular Chevrolet Equinox and GMC Terrain crossover vehicles at the CAMI plant. The company will recall about 350 laid-off workers and start a third shift next month.

Assembly line technicians earn $34.20 an hour, including a cost-of-living allowance, while trades people receive $40.30. That has put them at the same level as GM workers for the first time. However, wages and benefits are still somewhat higher than those at Honda or Toyota.

"The wage deals that came out of the government of Canada rescue plan definitely are enough to get that cost competitiveness ... in place," Clement said, noting that the CAMI plant is simply coming in line with the other GM plants.

NDP Leader Jack Layton said Clement's underlying message is "that the workers were somehow responsible when the companies simply refused to change tack and produce the kind of more green efficient cars that people wanted."

Layton said governments and corporations have wrongly tried to lay the recession at the feet of Canada's workers and "some corporations have actually taken advantage of the recession to squeeze the middle class."

Clement said management at the two companies must continue to do its part.

"The companies have cut several layers of management and have capped senior management compensation. This, too, is necessary to restore the companies' fortunes," he told the Star.

Meanwhile, Prime Minister Stephen Harper today announced in Guelph up to $54.8 million in repayable loans to auto parts manufacturer Linamar Corp. for its green and fuel-efficient powertrain projects.

The projects will develop and market a wide range of engines, transmissions and drive trains with less weight and higher quality.

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Is Goldman’s Chinese convertible really a taxi? - Reuters Blogs

Posted: 21 Sep 2009 08:05 AM PDT

The number of London's trademark black taxis booked and waiting outside the European headquarters of Goldman Sachs — meters running — was once used by some as a barometer of the health of London's investment banking business.

When times were good, the queue was long and it was impossible for anyone else in the vicinity to hail a cab. But when the fees dried up, or markets turned, the cabbies who'd been at Goldman's beck and call suddenly had to find new customers.

Last year, Goldman was reported to have stopped free taxis home for staff working in the office after 9pm, extending this to 10pm.

Now it looks as though taxis may be in vogue again at Goldman, at least indirectly.

Goldman Sachs Capital Partners — is that a taxi in the picture on the website? — now appears to be following in the tracks of the maker of many of London's black cabs by cosying up to Geely Automotive — China's 10th largest vehicle maker.

For Manganese Bronze — which has made more than 100,000 London taxis at its Coventry plant since 1948 — it was a case of turning to Geely for help and selling it a stake as well as entering a joint venture.

But in this case, it is Goldman that is providing the money — buying about $250 million of convertible bonds and warrants. Geely will use the proceeds to ratchet up its production.

Geely Automotive will no doubt be pleased with the celebrity endorsement. By persuading the U.S. investment bank to buy its convertibles, the Chinese carmaker is showing it is a force to be reckoned with.

Until recently, Geely has been seen as a somewhat optimistic "me-too" carmaker that was doing little more than window-shopping.

But it is one of the few privately-owned Chinese carmakers with a green light from Beijing to go shopping abroad. And its recent interest in buying Ford's unwanted Volvo brand and its approach to Magna about an Opel production partnership shows its real ambitions.

So the Goldman Sachs private equity fund could end up owning Geely shares. Goldman may soon have taxis made by a UK firm in which it has an indirect stake through China queueing at its London doors.

That's assuming its clampdown on taxi use is lifted by then of course.

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Linamar Corporation Receives Funding From the Federal Government - Market Wire

Posted: 21 Sep 2009 01:49 PM PDT

GUELPH, ONTARIO--(Marketwire - Sept. 21, 2009) - Linamar Corporation (TSX:LNR) and Prime Minister Harper today announced a partnership to invest in Linamar's Green & Fuel Efficient Powertrain Project. The investment will include the design & development of a wide range of Powertrain components related to new engines, transmissions and drivelines that will contribute to increases in fuel efficiency and reduced auto emissions. Linamar will work closely with its suppliers in the development of new products & technology and the design & development of advanced production processes to efficiently bring those products to market.

Linamar's spending commitment on this project is up to $365 million until March 31, 2013. The Federal Government, through the Automotive Innovation Fund, will provide assistance in the form of a repayable contribution for 15% of the total amount spent under the project.

"We are thrilled with this show of support from our Federal Government for our Green Technology investments," said Linamar CEO Linda Hasenfratz. "Investing in innovation, particularly when it is also aimed at creating products beneficial to our environment, is exactly what we need our governments to be focused on today."

Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products. The company's Powertrain and Driveline focused divisions are world leaders in the collaborative design, development and manufacture of precision metallic components, modules and systems for global vehicle and power generation markets. The company's Industrial division is a world leader in the design and production of innovative mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With more than 9,000 employees in 37 manufacturing locations, 5 R&D centers and 11 sales offices in Canada, US, Mexico, Germany, Hungary, UK, China, Korea and Japan, Linamar generated sales of over $2.2 Billion in 2008. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com.

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STMicroelectronics Names Paul Grimme Corporate VP, General Manager ... - MSN Money

Posted: 22 Sep 2009 12:26 AM PDT

GENEVA, Sept. 22 /PRNewswire-FirstCall/ -- STMicroelectronics STM announced today the appointment of Paul Grimme as Corporate Vice President and General Manager of the Automotive Product Group (APG), reporting to Chief Executive Officer Carlo Bozotti. Grimme's appointment comes several months after joining STMicroelectronics as Deputy General Manager of APG.

"When he joined the Company in April, Paul brought a deep awareness of the market and a wealth of valuable experience to ST. Over the last five months, he has had a chance to observe 'the ST Way' working closely with Ugo Carena, the retiring general manager of APG. Paul has also demonstrated that he is the right person to carry on ST's success story in automotive semiconductors," said Carlo Bozotti, President and CEO of STMicroelectronics.

Grimme began his career at Motorola, where he held positions of increasing responsibility in product engineering, marketing and operations management. He also served as corporate vice president and general manager of the 8/16-bit Products Division. In 1999, Grimme was promoted to vice president and general manager of the Advanced Vehicle Systems Division. He later served as Senior Vice President of the Transportation and Standard Products Group and continued in that role at Freescale Semiconductor when Motorola spun off of its semiconductor business. Before joining ST, Grimme served as Senior Vice President and General Manager of Freescale Semiconductor's Microcontroller Solutions Group

Retiring Corporate Vice President Ugo Carena joined ST in 1997, and was appointed to head the newly formed Printer Division shortly thereafter. His dedication, commitment and hard work laid a solid foundation for ST's success in microfluidics and later, in ST's leadership in Automotive products. Carena's customer-focused vision and stewardship produced outstanding customer successes, including Continental naming ST its Automotive Supplier of the Year(1) and numerous product successes, such as ST's Cartesio family of navigation processors(2), its development of ICs for Advanced Driver Assistance Systems (ADAS)(3) and ongoing efforts in semiconductors for hybrid and electric vehicles. Carena will remain with ST in a supporting role in the Automotive Product Group through the end of 2009.

For more information about Paul Grimme and all of ST's management team, see ST's executive biographies at www.st.com/stonline/company/executiv/executiv.htm.

About STMicroelectronics

STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. In 2008, the Company's net revenues were $9.84 billion. Further information on ST can be found at www.st.com.

(1) http://www.st.com/stonline/stappl/cms/press/news/year2009/t2406.htm

(2) http://www.st.com/stonline/stappl/cms/press/news/year2009/p2404.htm

(3) http://www.st.com/stonline/stappl/cms/press/news/year2009/p2328.htm

SOURCE STMicroelectronics

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San Pedro Auto Repair and Service Center Expands Expertise - PR.com

Posted: 21 Sep 2009 11:57 PM PDT

San Pedro, CA, September 22, 2009 --(PR.com)-- Plaza Automotive Center (www.parkplazaautomotive.com), a San Pedro auto repair and service facility located in the Park Plaza Shopping Center, announced that its lead technician, Felipe Wehbe, attained his L1 Automobile Advanced Engine Performance Specialist certification from the National Institute for Automotive Service Excellence (ASE).

The L1 Advanced Engine Performance Specialist Test is designed to measure the knowledge and skills an automotive technician needs to diagnose driveabilty issues and emission failures on computer-controlled engine systems. Mr. Wehbe's certification gives Plaza Automotive Center's customers the peace of mind that their vehicles are in the hands of experts that provide incomparable San Pedro auto repair and service for any engine problem.

The ASE is an independent, non-profit organization dedicated to the "quality of vehicle repair and service through the voluntary testing and certification of technicians and other automotive service professionals." Plaza Automotive Center has shared that commitment since opening its doors in 2001 to provide first-class San Pedro auto repair and service.

Plaza Automotive Center employs certified, highly trained, and experienced technicians to provide customers with comprehensive car care services. As the lead technician, Mr. Wehbe exemplifies Plaza Automotive Center's high standard of excellence.

"Felipe is an incredibly talented mechanic," said Mitch Harmatz, owner of Plaza Automotive Center. "His professionalism and knowledge is unparalleled. I think the fact that less than 10% of the technicians who took the test actually passed it says a lot about his expertise."

As a San Pedro auto repair expert and ASE certified technician, Mr. Wehbe has certifications in:

· Advanced O2 sensor and fuel trim diagnosis
· AC recovery and recycling
· Electrical/electronic systems control
· Advanced engine performance
· Engine performance diagnosis

Since joining Plaza Automotive Center's team of San Pedro auto repair and service experts in 2007, Mr. Wehbe has consistently demonstrated his versatility and willingness to take on new challenges. Passing the ASE's Advanced Engine Performance test is a personal achievement for Mr. Wehbe, but it also improves Plaza Automotive Center's ability to provide superior San Pedro auto repair and service.

"It's a very difficult test, so I'm proud of myself that I passed," said Wehbe. "As far as knowledge goes, it tells me I'm on the right track." He added, "I've had many bosses over the past twelve years, but Mitch is always honest with the customer and doesn't cover any mistakes. I like to do it right and not cut corners, and Mitch tells the customer exactly the way it is. He also invests money in the shop to make our lives easier and to provide even better service and repair for our customers."

According to the ASE, "Motorists as well as technicians and their employers benefit from ASE certification. It is a valuable yardstick by which to measure the knowledge and skills of individual technicians as well as the commitment to quality of the repair facility employing them."

Indeed, anyone who has had the opportunity to have their car serviced at Plaza Automotive Center has first-hand experience of the quality and skills of the shop's technicians. From tires to air conditioning to diagnostics, Plaza Automotive Center's technicians provide comprehensive San Pedro auto repair and service for domestics and imports, including:

· Tune-up and engine services
· Air conditioning service and repair
· Brake service
· Batteries and starting systems
· Tire service, wheel balancing, and alignment
· Clutch repair and replacement
· Suspension tuning and repairs
· Diagnostic services
· Heating and cooling system services and repair
· Shock and strut replacement
· Transmission and fuel injection services

For more information about Plaza Automotive Center's San Pedro auto repair and service, call 310.831.2888 or visit Plaza Automotive Center online at www.parkplazaautomotive.com.

About Plaza Automotive Center:
Plaza Automotive Center is locally owned and managed in San Pedro, California. Plaza Automotive Center's comprehensive auto repair and service includes tune-up and engine services, tire service, air conditioning service, brake service, diagnostic service, cooling system, charging system, and wheel alignment. Owner Mitch Harmatz and Plaza Automotive Center have been honored for their San Pedro auto repair expertise, customer service, and community involvement by many organizations, and continue to donate time and money to numerous local associations:

Named the 2009 Business of the Year by the San Pedro Rotary Club
Nominated for the 2009 American Express Shine A Light Award
President of the San Pedro Chapter of the American Business Women's Association (ABWA)
Member of the Boards of Directors of the San Pedro Chamber of Commerce and the Toberman Neighborhood Center
Financial supporter of the San Pedro YWCA, Toberman Neighborhood Center, Golden State Pops Orchestra, and Boys & Girls Club
Sponsor of the Boys & Girls Club College Bound Scholarship to California State University, Dominguez Hills

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