Word: uaw
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...jobs bank, he does not have the same authority to change other aspects of the existing contract without a vote by active workers. For example, according to William C. Andrews, managing director of the automotive advisory group at the consulting firm of BBK in Southfield, Mich., the UAW membership holds an effective veto over any "prepackaged" bankruptcy - which must be approved by all parties before it is filed, as opposed to a regular bankruptcy, in which the judge can change labor contracts - while the union retains the right to strike...
...though, the UAW is not sure what further concessions it will be asked to make. "They really haven't told us what they want," said one UAW bargainer when asked about what the union was prepared to give up. However, a rollback in wages, benefit cuts and a reduction in paid time off are all expected to be on the able when the union committees meet this week. Gettelfinger, however, stresses that other parties including dealers, suppliers, bondholders and salaried employees, need to make concessions as well...
...Until three years ago, the UAW's bargaining strategy was driven by a "no-concession" policy, though it did limit wage demands in exchange for richer pension and health-care benefits. Over the last three years, however, the union has reluctantly rewritten contracts with Ford, General Motors and Chrysler LLC, often over the strong objections of many union members...
...Earlier this year, the UAW struck a key GM parts supplier, American Axle Holding Inc. in Detroit, for 83 days, when union leaders sensed they could not sell the proposed pay and benefit concessions to union members. The strike wound up costing GM, American Axle's key customer, more than $2 billion, according to the company's financial reports. The contract finally approved, though marginally better than the company's first proposal, still included wage cuts...
...Meanwhile, the UAW has allowed new employees to be hired at lower wages. Under the 2007 contracts it signed with GM, Ford and Chrysler, new blue collar workers start at $14 per hour, rather than the $28 per hour paid senior employees. New workers also get a 401(k), instead of a defined-benefit pension plan, and a restricted menu of health-care plans...