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GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.

GM's labor deal with UAW union on verge of ratification

Nov 15 (Reuters) - General Motors' tentative labor deal with the United Auto Workers (UAW) union closed in on ratification as the votes were counted on Wednesday. Following the approval earlier in the day by more than 60% of union members at the Detroit automaker's large Arlington, Texas, assembly plant, additional votes in favor have the deal close to clinching majority approval. The number of union locals, most of which are smaller, still to report vote totals is not large. After several large assembly plants voted against the deal earlier on Wednesday, some media had reported the deal was heading toward failure. But Arlington's support, followed by strong voting in favor by smaller warehouse and parts facilities, has put the deal on the brink of approval. This would mark the first ratification of a deal, which runs through April 2028, with one of the Detroit Three automakers. Ford and Stellantis voting is still under way, and workers at both companies were favoring ratification by comfortable margins. The UAW's GM vote tracking site currently shows approval of the contract leading by a 54% to 46% margin with almost 32,000 workers having cast votes out of about 46,000 UAW-represented GM workers. The Arlington plant, with about 5,000 UAW members, has the most of any GM plant. Voting officially ends on Thursday at 4 p.m. EST, although most votes will be cast on Wednesday. The UAW went on strike for more than six weeks against the Detroit Three, seeking better wages, working conditions and cost-of-living adjustments. All three companies agreed to tentative agreements about two weeks ago. Workers at other GM assembly plants voted against the deal, including 60% of workers at its Fort Wayne, Indiana, truck plant, 53% at its Wentzville, Missouri, plant, 58% of workers at GM's Lansing Grand River plant and 61% of workers at the Lansing Delta Township plant. Seven of GM's 11 assembly plants rejected the deal. In addition to Arlington, workers at plants in Detroit, Fairfax, Kansas; and Lake Orion, Michigan; approved the agreement. Only nine facilities are still listed without vote totals on the UAW vote tracker, including GM's Lockport, New York, components plant with about 1,200 members. Those voting in favor of the agreement have a lead of almost 2,500 and many of the facilities still to come include workers who stand to receive large pay increases upon ratification.

Here's your chance to own a 7.0-liter V8-powered, stick-shifted Cadillac Catera

Cadillac never stuffed a V8 engine into the Catera, the entry-level model it sold in the United States from 1997 to 2001, so American tuner Lingenfelter stepped in and offered to perform the conversion. One of the few cars it dropped an eight-cylinder into is for sale, and the bigger engine is just one of many modifications performed on it. Listed on auction site Bring a Trailer, this 2001 Catera lost its V6 soon after it was leased to its first owner in Warren, Michigan. Lingenfelter replaced the 3.0-liter V6 with a 5.7-liter V8 and ditched the automatic transmission in favor of a six-speed manual, but that wasn't enough; the owner sent it back for more. It left the shop again with a custom-built, 7.0-liter V8 between its fenders. It's essentially a Chevrolet Corvette C5.R-based block topped with LS6 heads, an LS6 intake, and a less restrictive exhaust. Its horsepower and torque outputs aren't available, unfortunately, but we assume the V8 easily doubles the stock Catera's 200-horse output. Cadillac marketed the Opel-built Catera as the Caddy that zigs, not as the Caddy that humiliates hot rods on a drag strip, so additional modifications were required to keep the V8's power in check. Highlights include a limited-slip differential, a lowered suspension with bigger sway bars, and beefier brakes all around. At one point in its life, this Catera also received 17-inch alloy wheels, a three-spoke steering wheel, and a sprinkling of V emblems. Although engine swaps are often hit or miss, this Catera has spent approximately 18 years and 40,000 miles with a V8 under its hood, so it's apparently a solid, well-thought-out build. It currently has 42,000 miles on its odometer, and it's located in Michigan. Bidding stands at $6,250 as of this writing, with five days left in the auction. It won't stay in the four-digit range for long, and it might end up costing as much as a late-model ATS-V, but when are you going to find another one like it? Related Video:   Featured Gallery 2001 Cadillac Catera with V8 engine, Lingenfelter modifications View 10 Photos Aftermarket Cadillac Performance Sedan