Word: uaw
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Dates: during 2000-2009
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...though, Chrysler is in the red (it lost $2 billion in the first quarter alone) and will soon be on its own, and the UAW's four-year contracts with the D3 expire in September. All eyes in Detroit are on how much Cerberus--a 15-year-old firm with a reputation for cost cutting--will be able to squeeze out of the UAW...
...medical expenses when they retire. Faced in recent years with stagnant sales and rising health-care costs, the automakers have been ratcheting down those benefits (mainly by requiring co-pays and contributions) for retirees without union contracts. Then, in 2005, General Motors and Ford persuaded the United Auto Workers (UAW) to break open an existing contract to cut health benefits for both current and retired workers. Chrysler couldn't get a similar break because at the time it appeared healthier than its Detroit brethren; plus it belonged to a big German company whose other businesses (Mercedes-Benz and Freightliner) were...
...Detroit Three, though, held out. When they ran into trouble in the early 1980s, the UAW gave some ground on benefits. But in the 1990s the automakers came roaring back to profitability--helped by falling gas prices (which boosted the pickup and SUV segments still dominated by Detroit), a booming stock market (which made pensions easier to finance) and a slowdown in medical-cost inflation...
...avowed environmentalist, he tried unsuccessfully to turn Ford into a green car leader and was forced to backtrack as the company's finances fizzled. In Detroit, the buzz is that he's too nice a guy, unwilling to impose draconian job cuts at the risk of angering the UAW. In an interview last winter with TIME, he acknowledged that he found the CEO's role confining at times. And it has been clear for some time that he wanted out. In a press conference a year ago, he obliquely acknowledged that he had held discussions about a possible...
...sweeping cuts in production also have sparked speculation that Ford, like GM, will offer buyouts and or early retirements to virtually all of its blue-collar workers, providing the United Auto Workers agrees, in a bid to dramatically reduce costs. Paul Krell, a spokesman for the UAW, declined to comment but privately a number of union officials acknowledge that a GM-style deal is in the works...