Way to go Unions!!!!
excalibur1701,
Yes they had a big hand in Fords problems, but a new day has emerged.
Have you seen the GM Union agreement?
Have you talked to any auto types about it's ramifications?
It is huge.
Ford is up next, they may need to extract more concessions to obtain par/fighting chance status in terms of profitability vs. Toyota.
Here are some of the GM particulars above and beyond the "VEBA", note the 401k vs the Defined Benefit Plan.
GM agrees to new-vehicle programs at 16 U.S. plants.
GM would initially fund the UAW’s health care trust fund with $29.9 billion with an additional $5.4 billion in future years.
GM would provide the trust an additional backstop of as much as $1.6 billion over the next 20 years.
Workers get a $3,000 signing bonus to approve the contract.
Instead of pay raises, UAW rank and file get bonuses equal to 3 percent, 4 percent and 3 percent of their annual pay during the second, third and fourth years of the contract.
New hires in noncore, nonproduction jobs would get paid between $14 and $16.23 an hour.
New hires get a 401(k) plan instead of the traditional UAW pension plan.
GM agreed to bring in-house 3,000 jobs that now are outsourced to contractors.
GM agreed to hire 3,000 temporary workers as full-time hourly employees.