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Detroit 3 in discussions with UAW on how to share benefits of "amazing turnaround"?

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  • Detroit 3 in discussions with UAW on how to share benefits of "amazing turnaround"?

    Filed under: Chrysler, Ford, GM, Earnings/Financials, UAW/Unions

    It's no secret that some members of the United Auto Workers aren't thrilled about the concessions that the union made during bankruptcy negotiations with both General Motors and Chrysler. Now that both of those automakers are back on their feet, the UAW wants a slice of their new-found prosperity. According to Bloomberg, UAW President Bob King believes that his members' sacrifices helped keep GM and Chrysler afloat, and now they deserve to share in the fruits of those concessions. King said that UAW members each gave up between $7,000 and $30,000 each as part of negotiations since 2005, and the union gave up wage increases for cost of living, surrendered raises and ditched bonuses to keep the Big Three afloat during the darker days of 2009.

    The UAW is expected to negotiate new contracts with Ford, GM and Chrysler early this year before they expire in September, and all three automakers are being tight-lipped about how additional compensation could factor into those negotiations. King has also been jockeying for positions on the executive boards of the domestic automakers in an attempt to better represent the union's needs.

    [Source: Bloomberg | Image: Bill Pugliano/Getty Images]Detroit 3 in discussions with UAW on how to share benefits of "amazing turnaround"? originally appeared on Autoblog on Wed, 05 Jan 2011 15:30:00 EST. Please see our terms for use of feeds.

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  • #2
    Yeah, and I'm one of them.
    Bob King (a good friend of mine), had been boo'd too many times by the rank and file. The most prominent messate from the ranks is, "**** NO!"; a clear message to the UAW that they will not approve any more concessions.

    Look, none of us want to see Ford go under (or go away) but the truth is, every time the company cried 'wolf' the UAW gave concessions and drew up new contracts, even when we were in the middle of a four year contract.

    Now, it's the same old story Chrysler workers saw back in the Iacocca days. "Thanks a lot. See you later." Those workers never got anything back but the executive board did. Douglas Frasier was livid while Iacocca stole all the glory.

    Wasn't William Ford just awarded $11-14 MILLION in retroactive pay for the past two years???

    I want to see what the assembly line workers get in back-pay. Just reinstate my health care and I'll be happy. - Dave
    My latest project:
    CLICK HERE to see my custom hydraulic roller 390 FE build.

    "We've got to pause and ask ourselves: How much clean air do we need?"
    --Lee Iacocca