Word: uaw
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Dates: during 2000-2009
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...particularly galling to the United Auto Workers (UAW) that, in addition to numerous rounds of layoffs and givebacks dating back two decades, the union is being cast as the enemy in the U.S. auto industry's fight to survive. "Our contracts with Chrysler, Ford and GM represent only 10% of the cost of assembling of a vehicle. But most days, it seems like we get 110% of the attention," said UAW president Ron Gettelfinger in a recent speech. In the wake of GM's most recent quarter, in which the company lost $9.6 billion - $30.9 billion on the year...
...UAW plans to offer similar terms to both General Motors and Chrysler LLC, sources indicated. Officials from both companies, which together asked for more than $21.6 billion in loans last week, declined to comment on the Ford deal. Both companies are supposed to have deals with the union wrapped up by March...
...part, the UAW has obliged in an effort to blunt demands for even greater concessions from General Motors Corp. and Chrysler LLC, which have accepted government loans. Traditionally, the UAW has had better relations with Ford than with GM or Chrysler...
Under term loan agreements that GM and Chrysler signed with the U.S. Treasury in December, the UAW is required to accept equity instead of cash as payments into the health-care trust. But only last month, Gettelfinger said he was reluctant to accept any equity because it could jeopardize the health-care benefits of retirees. Gettelfinger also noted at the time that the UAW had not signed any commitment to a new VEBA funding scheme as part of the government loan deal...
...changes agreed to with Ford are now subject to approval of the UAW membership at Ford. Such a vote, which could also cover other agreed to cuts, such as elimination of productivity bonuses and cost-of-living adjustments over the next two years, could be held as early as next week. In addition, proposed changes to the VEBA will require court approval, Gettelfinger said...