Investor plans millennium ride in Mercedes-Benz

Article Abstract:

The GLK, a custom-built Mercedes-Benz trekker, will be used by adventurer and investor Jim Rogers in his planned trip around the world for the second time. From 1990 to 1992, Rogers circled the Earth using a motorcycle. The GLK, which was introduced on Nov. 4, 1998, at the Specialty Equipment Market Association's trade fair in Las Vegas, NV, will have the body of a Mercedes-Benz SLK combined with a Mercedes military four-wheel-drive chassis. The six-cylinder, diesel-powered touring vehicle was designed by Gerhard Steinle, who previously acted as president of Mercedes-Benz Advanced Design of North America.

Comment:

Its GLK, a custom-built trekker, will be used by adventurer and investor Jim Rogers in his planned trip around the world

Automobile Manufacturing, Sports Cars, Daimler-Benz AG

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Canadian union backs up workers striking GM

Article Abstract:

Canadian Auto Workers (CAW) President Basil Hargrove stated that the labor union will not install truck components produced by the controversial metal-stamping dies of General Motors (GM). Hargrove stated that the CAW is supporting the United Auto Workers (UAW) strike at GM's Metal Center facility in Flint, MI. The labor union also stated that it valued its relationship with US workers despite its contract with GM. The UAW responded to the CAW's statement by stating that it was satisfied to see the solidarity that was still present in the labor movement.

Comment:

President Basil Hargrove states that the union will not install truck parts produced by the metal-stamping dies of GM

Canada, Labor Unions and Similar Labor Organizations, Unions-Manufacturing, Manufacturing unions, Canadian Auto Workers

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GM expected to spin off 20% stake in Delphi

Article Abstract:

General Motors Corp. (GM) is anticipated to spin off 20% of its auto parts division, Delphi, for approximately $1.6 billion by the end of 1998. The move by GM would generate cash needed to offset the cost of the company's 54-day strike, which resulted in a $2.5 billion loss. The 20% stake sale in Delphi, which is the biggest auto supplier in the world, with 1997 operating income worth $860 million, is reportedly satisfactory with the United Auto Workers. GM is also looking into the possibility of an initial public offering to help its finances.

Comment:

Is anticipated to spin off 20% of its auto parts division, Delphi, for approximately $1.6 bil by the end of 1998

Asset sales & divestitures, Motor Vehicles & Parts, Transportation Equipment Manufacturing, General Motors Corp.

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