Word: uaw
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Dates: during 2000-2009
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...world's largest automaker is desperately trying to hammer out a new contract that would shift the burden to the United Auto Workers (UAW), the union that represents 73,000 of GM's employees and nearly 270,000 retirees. The company wants to fund a health-care trust, administered by the UAW, to pay for retirees' medical needs. The union's old contract expired Sept. 14, and the creation of that trust has emerged as the principal stumbling block to a new one. An eventual deal looks likely; the two sides are haggling furiously over exactly how much GM will...
...trust that GM has in mind, called a voluntary employees' beneficiary association (VEBA) according to the 1928 tax law that governs such trusts, would create an independent body, run by the UAW, with the sole responsibility of paying for the health care of GM's retirees and their spouses. It won't come cheap. Analysts estimate that GM could end up paying 60 to 70 cents on the dollar of its $50 billion obligation to establish the trust. But investors have been pushing for a VEBA since Goodyear set up a similar plan with the United Steelworkers last year. Wall...
...Edwards caravan rolls into Ottumwa in the southeastern part of the state, the candidate and his wife Elizabeth conduct a master class in the art of emotional connection. More than 300 people have packed into a wood-paneled room inside UAW Local 74, a modest brick union hall around the corner from a vast John Deere plant. They cheer when Elizabeth Edwards cites a poll that puts her husband 8 points ahead of Hillary Clinton in Iowa, and they fall into a hush when Elizabeth talks about health care. "Ninety-five thousand women in this state are uninsured," she says...
Which brings us back to Chrysler, the UAW and what is shaping up to be a very hot summer of contract talks. The company's rank and file are less than thrilled about their employer's leaving the warm embrace of Germany and falling into the hands of New York financiers. "These private-equity firms are like modern-day robber barons," said a worker at the company's Warren truck plant outside Detroit. "People are feeling betrayed by the management...
...UAW chief Ron Gettelfinger opposed the Chrysler sale. But after a quick trip to DaimlerChrysler headquarters in Stuttgart, where Zetsche said he would not be dissuaded from selling and Cerberus was the best of the potential buyers, Gettelfinger offered a tepid endorsement. "It's going to happen, and we're going to make it happen in the best interest of our membership," he said...