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Found 6 results

  1. It hasn't been easy for former Nissan chairman Carlos Ghosn and aide Greg Kelly since being arrested last month. In that time, the two have been brought up on various charges alleging financial misconduct and having their stay of detention being extended. But there appears to be some good news over the horizon. Today in a Tokyo courtroom, a judge rejected the request of prosecutors to extend Ghosn's and Kelly's detention by an additional 10 days. The Japan Times reports that prosecutors were seeking an additional 10-day extension related to a "separate warrant served to Ghosn" under the allegation that he understated "his remuneration by ¥4.2 billion in the automaker’s securities reports for the three business years through March this year." Lawyers for Ghosn said they are planning to apply for bail, which could mean Ghosn could be out of jail by Friday. But Japanese prosecutors have appealed the decision. According to Automotive News, there is no set date for a possible decision. As for Kelly, lawyers are planning to file for bail either today or tomorrow. “The chances of bail are very high. To begin with, this isn’t a case that should need such a lengthy detention,” said Nobuo Gohara, a lawyer and former prosecutor. Tsutomu Nakamura, a former public prosecutor doesn't share the same view. He tells Bloomberg that the decision made by the court doesn't mean Ghosn will walk out immediately. “The prosecutors will file the complaint against this judge’s decision immediately. I think that the prosecutors failed to prove the seriousness of the case,” he said. Source: Automotive News (Subscription Required), Bloomberg (Subscription Required), Japan Times
  2. It hasn't been easy for former Nissan chairman Carlos Ghosn and aide Greg Kelly since being arrested last month. In that time, the two have been brought up on various charges alleging financial misconduct and having their stay of detention being extended. But there appears to be some good news over the horizon. Today in a Tokyo courtroom, a judge rejected the request of prosecutors to extend Ghosn's and Kelly's detention by an additional 10 days. The Japan Times reports that prosecutors were seeking an additional 10-day extension related to a "separate warrant served to Ghosn" under the allegation that he understated "his remuneration by ¥4.2 billion in the automaker’s securities reports for the three business years through March this year." Lawyers for Ghosn said they are planning to apply for bail, which could mean Ghosn could be out of jail by Friday. But Japanese prosecutors have appealed the decision. According to Automotive News, there is no set date for a possible decision. As for Kelly, lawyers are planning to file for bail either today or tomorrow. “The chances of bail are very high. To begin with, this isn’t a case that should need such a lengthy detention,” said Nobuo Gohara, a lawyer and former prosecutor. Tsutomu Nakamura, a former public prosecutor doesn't share the same view. He tells Bloomberg that the decision made by the court doesn't mean Ghosn will walk out immediately. “The prosecutors will file the complaint against this judge’s decision immediately. I think that the prosecutors failed to prove the seriousness of the case,” he said. Source: Automotive News (Subscription Required), Bloomberg (Subscription Required), Japan Times View full article
  3. The California Air Resources Board has rejected Volkswagen's plan to fix the 3.0L TDI V6. "VW's and Audi's submissions are incomplete, substantially deficient, and fall far short of meeting the legal requirements to return these vehicles to the claimed certified configuration," CARB wrote in a letter to the German automaker. This comes as a bit of a surprise as last month, Volkswagen's lawyer Robert Giuffra said the company was close to a fix for this engine and it wouldn't affect overall performance. Volkswagen apparently did not learn its lesson when its proposed fix for the 2.0L TDI four-cylinder was rejected by CARB earlier this year for the same reasons. Complicating matters further is CARB saying that certain test data would not be available until December. They need this data to help make a determination if a fix would work for the all of the affected models or if Volkswagen needs to set up a buyback program similar to the one for the 2.0 TDI. Source: Reuters, California Air Resources Board View full article
  4. The California Air Resources Board has rejected Volkswagen's plan to fix the 3.0L TDI V6. "VW's and Audi's submissions are incomplete, substantially deficient, and fall far short of meeting the legal requirements to return these vehicles to the claimed certified configuration," CARB wrote in a letter to the German automaker. This comes as a bit of a surprise as last month, Volkswagen's lawyer Robert Giuffra said the company was close to a fix for this engine and it wouldn't affect overall performance. Volkswagen apparently did not learn its lesson when its proposed fix for the 2.0L TDI four-cylinder was rejected by CARB earlier this year for the same reasons. Complicating matters further is CARB saying that certain test data would not be available until December. They need this data to help make a determination if a fix would work for the all of the affected models or if Volkswagen needs to set up a buyback program similar to the one for the 2.0 TDI. Source: Reuters, California Air Resources Board
  5. The United Auto Workers has announced today in a statement that 65 percent of members at Fiat Chrysler Automobiles has rejected the proposed contract that was reached by the two parties last month. “As I said at the press conference: ‘What I love about our organization most of all is that no matter what we do, what action we take, the ultimate decision and the power of the union is our members and they make the final decision,’” said UAW President Dennis Williams. “That is the design of our constitution and who we are ... We don’t consider this a setback; we consider the membership vote a part of the process we respect.” The UAW will be meeting with national bargaining committee and FCA council to discuss the issues that caused the rejection and figure out the next move. There are three options on the table that the UAW can choose from: go back to the negotiation table with FCA, move on to Ford and GM, or issue a strike. FCA said in a statement it was disappointed in the result in the vote. Source: Automotive News (Subscription Required), The Detroit News, United Auto Workers, Fiat Chrysler Automobiles Press Release is on Page 2 “As I said at the press conference: “What I love about our organization most of all is that no matter what we do, what action we take, the ultimate decision and the power of the union is our members and they make the final decision.” That is the design of our constitution and who we are. We will gather the issues together; notify FCA that further discussions are needed. We don’t consider this a setback; we consider the membership vote a part of the process we respect. We will be meeting with the UAW-FCA National bargaining committee and council to discuss the issues.” Statement Regarding UAW Ratification Vote FCA US is disappointed that UAW members voted not to ratify the tentative agreement. The bargaining teams on both sides worked hard, for many days and nights, to craft a transformational agreement that would adequately reward the commitment of our workforce while ensuring the Company’s continued success and competitiveness. Striking the right balance in these two objectives has been the most difficult thing to accomplish in these negotiations, but after many hours of dialogue and debate between the UAW and FCA US leadership, the Company felt that a just and equitable compromise had been reached. The memories of our near-death experience in 2009 are vivid to this day in the minds of most of us at FCA. A large number of new employees have been brought into the Group since then who, thankfully, did not have to endure the pain and sacrifices that were required of the workforce then. But it is that knowledge and those memories that continuously reinforce the FCA leadership’s resolve to never let those events repeat. While significant progress has been made since the events of less than seven years ago, much more work remains to be done and challenges remain while new, significant ones surface. The cyclical nature of the automotive business demands that while we must recognize the need for rewarding employees during times of prosperity, we must also protect against the inevitable market downturn. This agreement accomplished both of these objectives. The tentative agreement was designed to yield a strong and competitive FCA US, thus providing stability for our workforce and opportunity for future growth and investment in an increasingly complex global marketplace. The Company will make decisions, as always, based on achieving our industrial objectives, and looks forward to continuing a dialogue with the UAW. View full article
  6. The United Auto Workers has announced today in a statement that 65 percent of members at Fiat Chrysler Automobiles has rejected the proposed contract that was reached by the two parties last month. “As I said at the press conference: ‘What I love about our organization most of all is that no matter what we do, what action we take, the ultimate decision and the power of the union is our members and they make the final decision,’” said UAW President Dennis Williams. “That is the design of our constitution and who we are ... We don’t consider this a setback; we consider the membership vote a part of the process we respect.” The UAW will be meeting with national bargaining committee and FCA council to discuss the issues that caused the rejection and figure out the next move. There are three options on the table that the UAW can choose from: go back to the negotiation table with FCA, move on to Ford and GM, or issue a strike. FCA said in a statement it was disappointed in the result in the vote. Source: Automotive News (Subscription Required), The Detroit News, United Auto Workers, Fiat Chrysler Automobiles Press Release is on Page 2 “As I said at the press conference: “What I love about our organization most of all is that no matter what we do, what action we take, the ultimate decision and the power of the union is our members and they make the final decision.” That is the design of our constitution and who we are. We will gather the issues together; notify FCA that further discussions are needed. We don’t consider this a setback; we consider the membership vote a part of the process we respect. We will be meeting with the UAW-FCA National bargaining committee and council to discuss the issues.” Statement Regarding UAW Ratification Vote FCA US is disappointed that UAW members voted not to ratify the tentative agreement. The bargaining teams on both sides worked hard, for many days and nights, to craft a transformational agreement that would adequately reward the commitment of our workforce while ensuring the Company’s continued success and competitiveness. Striking the right balance in these two objectives has been the most difficult thing to accomplish in these negotiations, but after many hours of dialogue and debate between the UAW and FCA US leadership, the Company felt that a just and equitable compromise had been reached. The memories of our near-death experience in 2009 are vivid to this day in the minds of most of us at FCA. A large number of new employees have been brought into the Group since then who, thankfully, did not have to endure the pain and sacrifices that were required of the workforce then. But it is that knowledge and those memories that continuously reinforce the FCA leadership’s resolve to never let those events repeat. While significant progress has been made since the events of less than seven years ago, much more work remains to be done and challenges remain while new, significant ones surface. The cyclical nature of the automotive business demands that while we must recognize the need for rewarding employees during times of prosperity, we must also protect against the inevitable market downturn. This agreement accomplished both of these objectives. The tentative agreement was designed to yield a strong and competitive FCA US, thus providing stability for our workforce and opportunity for future growth and investment in an increasingly complex global marketplace. The Company will make decisions, as always, based on achieving our industrial objectives, and looks forward to continuing a dialogue with the UAW.

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