Rail union rejects contract as strike threatens U.S. economy before holidays
A national rail strike, which could happen as early as Dec. 5, would threaten the nation’s coal shipments and its supply of drinking water.
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U.S. supply chain under threat as unions, railroads, clash
A split vote Monday from the two biggest railroad unions follows the rejection by three other unions of their deals with the railroads that the Biden administration helped broker before the original strike deadline in September.
IBJ Podcast: Indy-based airline charting path to more diverse workforce
Host Mason King is joined by Rob Lowe, Republic’s vice president of people and culture, and Alisha Spires, senior manager of talent acquisition for pilot recruiting, to discuss the barriers that women and people of color face when they consider aviation careers, and what Republic is doing to widen those horizons.
GM to invest $45M to expand EV parts production at Indiana plant
The investment will be used to support additional production of electric vehicle drive unit castings ahead of what GM anticipates will be strong demand for the Chevrolet Silverado EV and GMC Sierra EV full-size pickup trucks.
GM CEO Barra says electric vehicles to be profitable by 2025
GM is sticking by a pledge made by Mary Barra to sell more EVs in the U.S. than market leader Tesla by the middle of the decade.
Frontier, 5 other airlines to refund more than $600 million
The largest U.S. airlines, which accounted for the bulk of complaints about refunds, avoided fines, and an official said no other U.S. carriers are being investigated for potential fines.
Flying home for holidays likely to cost travelers much more this year
Airline executives say that based on bookings, they expect huge demand for flights over Thanksgiving, Christmas and New Year’s. Travel experts say the best deals for airfares and hotels are already gone.
Airline reaches out to students to build talent pipeline
Indianapolis-based Republic Airways is launching a combination of recruitment, training and retention efforts, including a career fair for middle school, high school and college students.
RV industry sees reduced shipments as ‘normalization’ after blockbuster year
As the recreational vehicle industry approaches the end of 2022, the nation’s economic malaise and spiking interest rates have caused buyers to tap the brakes on purchasing RVs and drift from 2021’s record-setting numbers.
Carvana shares fall as rising rates, inflation cut used car sales
Carvana had been growing quickly as used car prices soared after the pandemic. But it has been caught in an environment where rising interest rates and high prices have sent many potential used car buyers to the sidelines.
Airline pilots ramp up pressure in pay talks as air travel booms
On the table are double-digit pay increases and changes to scheduling rules, which would be a boon to pilots but would increase airline costs.
Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Stellantis says park older models after more Takata air bag deaths
The latest fatalities bring the death toll from exploding Takata air bags to at least 32 worldwide, including 23 in the United States.
Car loan rates head for 14-year high in new barrier for buyers
The average annual percentage rate on new-car loans was 6.3% last month, the highest since April 2019, according to Edmunds.
United pilots reject contract offer as they push for raises
The Air Line Pilots Association said Tuesday that 94% of the nearly 10,000 United pilots who took part voted against a tentative agreement that the union and United reached in June.
AutoNation’s CEO warns of used-car price drop as rising rates curb demand
The biggest U.S. chain of car dealerships said used-vehicle prices are softening as rising interest rates curb demand from more price-sensitive buyers.
Renters face charging dilemma as U.S. cities move toward EVs
EVs are soaring in popularity amid tax incentives and high gas prices, but how and where to charge up remains a dilemma that’s a barrier for most renters.
Railroads reject sick time demands, raising chance of strike
The railroads took the unusual step of issuing a statement late Wednesday rejecting the Brotherhood of Maintenance of Way Employes Division union’s latest request to add paid sick time on top of the 24% raises and $5,000 in bonuses they received in the first five-year deal.
Largest U.S. airlines rake in big summer profits
Executives at all three big U.S. airlines said they see no indication that consumer concerns about inflation and the economy are hurting ticket sales.
Spirit Airlines shareholders approve $3.8B sale to JetBlue
JetBlue emerged as the winner in a bidding war with Frontier to acquire Spirit, the nation’s biggest budget airline. But the deal could still face a challenge from federal antitrust regulators.