Chevrolet

• Despite a process to negotiate a consensual restructuring in the wake of a forbearance agreement having been attempted, the Board of No Va Land has refused to engage with the group in good faith.
• The stalling of No Va Land’s restructuring almost certainly creates issues for other companies which are critical to the Vietnamese economy.
• This is for the good of the company, its stakeholders and Vietnam’s standing among international investors.
• No Va Land’s proposal further erodes our confidence in the process, forcing us to consider an acceleration notice which would negatively impact creditors and likely wipe out equity.

• About 5,600 UAW members at 38 General Motors and Stellantis distribution centers for auto parts in 20 states walked off the job on Sept. 22, 2023, after an announcement by UAW President Shawn Fain.
• Workers at the only Ford plant affected by the strike since it began on Sept. 15 will remain off the job.
• The total number of UAW members involved in the strike stands at about 18,300.
• Rather, I believe management and labor will need to swiftly move on following the strike and work together constructively to meet that goal.

UAW’s demands

• In addition to these demands, the UAW wants defined-benefit pensions for all workers restored, company-paid health benefits for retirees reestablished and the right to strike over plant closures guaranteed.
• Other demands include more paid time off and seeing all temporary workers made permanent.

Precedents for working together

• The company’s approach to its Saturn brand of compact vehicles, launched in 1985, was unique in many respects.
• Its governance structure was characterized by shared decision-making at different levels throughout the plant.
• GM invested billions of dollars in this venture, through which it tried to compete with Japanese imports and transplants that were quickly eroding GM’s market share.
• The plant, which assembles Cadillacs and Chevy Camaros, continues this approach successfully today.

Shift the focus to the future

• Undergoing this transformation with labor and management at loggerheads can’t possibly benefit the UAW or the auto companies.
• Instead, they’ll need to focus on finding solutions together that increase productivity, build a skilled workforce and efficiently convert plants that make conventional vehicles today to EV factories tomorrow.
• In so doing, the UAW is more likely to meet its goal of seeing those EV factories employ its members.

• ORLANDO, Fla., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Wounded Warriors Family Support presented Carlos Evans of Winter Garden, Florida, with a 2023 Chevy Tahoe Mobility is Freedom vehicle during halftime of Saturday’s Villanova at Central Florida college football game.
• Evans, who is medically retired from the U.S. Marine Corps, was on patrol in 2004 when he stepped on an improvised explosive device during his fourth deployment.
• “There is always someone in your life that is going to push you that extra mile, that extra limit.
• “We are proud and honored to provide this vehicle to Carlos in an effort to enhance his quality of life with family members.”

• The OC Auto Show and SoCal Electrified Ride Experience will take over the Anaheim Convention Center with hundreds of new cars, trucks, crossovers, SUVs, electric vehicles (EVs), exotics, indoor EV rides, and more.
• This is the place to check out the latest 2024-model vehicles in a non-selling environment, talk to product specialists, inspect engines, and even going for a spin.
• Product specialists and automotive experts representing participating manufacturers will be at the show to answer questions and provide information to attendees.
• The OC Auto Show is owned by the Orange County Automobile Dealers Association and produced by Steve Freeman Events.