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Union Strike!
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<blockquote data-quote="LKLND3380" data-source="post: 246686" data-attributes="member: 6601"><p><em><span style="color: blue"><strong>GM-UAW reach deal to end strike</strong></span></em></p><p><em><span style="color: blue">Marathon bargaining session strikes agreement to end two-day strike at No. 1 U.S. automaker;</span> <span style="color: red">union to assume more than $50 billion in retiree health care costs</span>.</em></p><p> </p><p><em><span style="color: blue">Terms of the agreement were not immediately available, but the statement from the company said</span> <span style="color: red">the deal includes the establishment of a union-controlled trust fund that will assume responsibility for future retiree health care costs from GM</span>, <span style="color: blue">the nation's No. 1 automaker.</span></em></p><p> </p><p><span style="color: blue"><em>Getting agreement for that shift of costs, estimated at more than $50 billion, was the key bargaining goal of the talks for GM</em>.</span></p><p> </p><p>I had heard the Union taking over the Retirement fund (GM pays 70%) will allow the auto maker to lower car prices by $1200... So if UPS takes over the pension plan will they have to raise shipping costs? Or will they have to lower new hire wages?</p><p> </p><p><a href="http://www.autoblog.com/2007/09/26/breaking-down-the-gm-strike-who-got-what/" target="_blank"><strong><em><span style="color: blue">Breaking down the GM Strike: who got what</span></em></strong></a><em><span style="color: blue">...</span></em></p><p> </p><p><em><span style="color: blue">UAW got:</span></em></p><ul> <li data-xf-list-type="ul"><LI _extended="true"><em><span style="color: blue">An independent retiree health care trust that will be funded with enough money from GM to remain solvent for 80 years </span></em><LI _extended="true"><em><span style="color: blue">Undisclosed job guarantees that we expect includes a promise of investment in particular U.S. plants in preparation for production of new models </span></em><LI _extended="true"><em><span style="color: blue">GM will hire up to 5,000 temporary workers as full-time employees </span></em><LI _extended="true"><em><span style="color: blue">Signing bonuses of an undisclosed amount for all UAW members who sign the contract </span></em></li> <li data-xf-list-type="ul"><em><span style="color: blue">Wage increases of 3% in first year, 4% in second and 3% in third </span></em></li> </ul><p><em><span style="color: blue">GM got:</span></em></p><ul> <li data-xf-list-type="ul"><LI _extended="true"><em><span style="color: blue">$50 billion in health care liability off its back after a large one-time payout into independent retiree health care trust </span></em><LI _extended="true"><em><span style="color: blue">Two-tier wage structure, as those 5,000 new hires who were previously temp will be brought in at their current wage of $18/hour, rather than the $28/hour current full-timers earn </span></em><LI _extended="true"><em><span style="color: blue">Undisclosed revisions in the Jobs Bank program that continues to pay laid-off employees </span></em></li> <li data-xf-list-type="ul"><span style="color: blue"><em>Reduction in labor cost to produce vehicles, though might not be realized right</em> away</span></li> </ul></blockquote><p></p>
[QUOTE="LKLND3380, post: 246686, member: 6601"] [I][COLOR=blue][B]GM-UAW reach deal to end strike[/B] Marathon bargaining session strikes agreement to end two-day strike at No. 1 U.S. automaker;[/COLOR] [COLOR=red]union to assume more than $50 billion in retiree health care costs[/COLOR].[/I] [I][/I] [I][COLOR=blue]Terms of the agreement were not immediately available, but the statement from the company said[/COLOR] [COLOR=red]the deal includes the establishment of a union-controlled trust fund that will assume responsibility for future retiree health care costs from GM[/COLOR], [COLOR=blue]the nation's No. 1 automaker.[/COLOR][/I] [I][/I] [COLOR=blue][I]Getting agreement for that shift of costs, estimated at more than $50 billion, was the key bargaining goal of the talks for GM[/I].[/COLOR] I had heard the Union taking over the Retirement fund (GM pays 70%) will allow the auto maker to lower car prices by $1200... So if UPS takes over the pension plan will they have to raise shipping costs? Or will they have to lower new hire wages? [URL="http://www.autoblog.com/2007/09/26/breaking-down-the-gm-strike-who-got-what/"][B][I][COLOR=blue]Breaking down the GM Strike: who got what[/COLOR][/I][/B][/URL][I][COLOR=blue]...[/COLOR][/I] [I][/I] [I][COLOR=blue]UAW got:[/COLOR][/I] [LIST]<LI _extended="true">[I][COLOR=blue]An independent retiree health care trust that will be funded with enough money from GM to remain solvent for 80 years [/COLOR][/I]<LI _extended="true">[I][COLOR=blue]Undisclosed job guarantees that we expect includes a promise of investment in particular U.S. plants in preparation for production of new models [/COLOR][/I]<LI _extended="true">[I][COLOR=blue]GM will hire up to 5,000 temporary workers as full-time employees [/COLOR][/I]<LI _extended="true">[I][COLOR=blue]Signing bonuses of an undisclosed amount for all UAW members who sign the contract [/COLOR][/I] [*][I][COLOR=blue]Wage increases of 3% in first year, 4% in second and 3% in third [/COLOR][/I][/LIST] [I][COLOR=blue]GM got:[/COLOR][/I] [LIST]<LI _extended="true">[I][COLOR=blue]$50 billion in health care liability off its back after a large one-time payout into independent retiree health care trust [/COLOR][/I]<LI _extended="true">[I][COLOR=blue]Two-tier wage structure, as those 5,000 new hires who were previously temp will be brought in at their current wage of $18/hour, rather than the $28/hour current full-timers earn [/COLOR][/I]<LI _extended="true">[I][COLOR=blue]Undisclosed revisions in the Jobs Bank program that continues to pay laid-off employees [/COLOR][/I] [*][COLOR=blue][I]Reduction in labor cost to produce vehicles, though might not be realized right[/I] away[/COLOR][/LIST] [/QUOTE]
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