Word: agreement
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...United Auto Workers pulled down its pickets around General Motors Corp. plants across the United States early Wednesday morning. The union's leadership said it was satisfied with GM's guarantees of job security - the ostensible reason for the strike. The scene is now set for ratifying a labor agreement that would shift GM's liabilities for retiree health care to a Voluntary Employee Benefit Association (VEBA) that would be run by the union itself...
...future retirees for the next 80 years. "I think our retirees will be exceptionally pleased with this contract," he told reporters during an early morning press conference convened to announce the end to the union's first nationwide walkout against GM since 1970. "We feel very good about this agreement," he said. Other unions, including the Teamsters and building trades unions, have helped administer union members' health care benefits for decades...
...chairman and CEO Rick Wagoner, who launched an effort to turn around GM's money-losing North American operations two years ago, hailed the agreement. "There's no question this was one of the most complex and difficult bargaining sessions in the history of the GM/UAW relationship," said Wagoner. Wagoner and Gettelfinger offered few other details of the settlement. However, GM is expected to transfer enough cash and other assets into the new trust to cover about 70% of the company's current health care liabilities of nearly $50 billion, sources said...
Gettelfinger also said the new agreement includes the job security guarantees sought by the union and predicted GM's employment level will remain constant over the four-year term of the contract. The lack of guarantees from GM on job security triggered the strike Monday, Gettelfinger said shortly after the walkout began. The job-security guarantees are expected to include firm commitments to build future GM products, including the electric-powered Chevrolet Volt, in the United States. Some observers have speculated, however, that the job-security walkout was merely a cover for the more far-reaching and sensitive health care...
...bigamist, was facing four first-degree felony counts for rape of his young wife. (Utah recently raised the age of consent from 14 to 16 and it is illegal for a person of authority or trust to have sex with anyone under 18.) Gayle's client took a plea agreement, but still was punished with significant prison time, far greater than any he would have received for violating bigamy statutes...