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    REPORT: UAW's majority stake in Chrysler doesn't necessarily translate to control

    The reworked contract between Chrysler and the United Auto Workers cedes 55% of Pentastar stock to the worker's retiree health care fund. That has lead to speculation that the UAW would have majority representation on the Chrysler board, but labor experts believe that won't be the case. University ...

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    GM future hinges on success of new debt-for-equity swap offers

    In addition to announcing the shuttering of Pontiac, General Motors has put forth a new offer to its bondholders to exchange $27 billion in claims for equity in the struggling automaker.As part of the plan, GM is offering its bondholders a 10% equity stake in the company, but worryingly, if 90 ...

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    Ford's new deal with UAW gets wages down to $55/hour

    Two years ago when Ford was negotiating a new contract with the UAW, the automaker was paying its union workers the oft-bandied amount of $70 per hour. That amount wasn't the actual hourly wage of each employee, though, but rather the employee's hourly wage plus the cost of contributions to current ...

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    Ford, UAW reach tentative retiree health care trust fund deal

    Ford Motor Company says it has reached a tentative deal with the UAW regarding modifications to the Voluntary Employees' Beneficiary Association (VEGA) pact, the union's retiree health care trust. While specifics are not yet being divulged, the Blue Oval says that it has agreed to make up to half ...

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    Gettelfinger: Wage cuts won't be part of UAW concessions

    General Motors and Chrysler are tasked with gaining concessions from debt holders and organized labor by February 17. If major cuts aren't achieved, the struggling Detroit automakers risk having to pay back the $17.4 billion in government loans that have helped keep the companies solvent. UAW ...

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    UAW agrees to suspend Jobs Bank, postpone VEBA contributions

    While Ford, General Motors and Chrysler all submitted plans to Congress yesterday that detail how much sacrifice they're willing to make in order to secure government loans, the United Auto Workers union waited until today to announce how it plans to contribute. UAW President Ron Gettelfinger met ...

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    Details emerge on Ford/UAW contract

    Ford stands as the last domestic automaker in the process of negotiating its labor contract with the UAW, and details of the new contract have begun to hit the web. The Detroit News has an in-depth article on what's gone down thus far, but for those of us with attention spans akin to meth-addled ...

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    The Moneyed Tycoons of the UAW - Autoline on Autoblog with John McElroy

    John McElroy is host of the TV program "Autoline Detroit". Every week he'll bring his unique insights as an auto industry insider to Autoblog readers. I gotta believe Karl Marx is spinning in his grave. Can you imagine the captains of capitalism handing tens of billions of dollars over to labor? ...

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    Big Three discussing joint healthcare fund

    Recently, the UAW decided to look at the unusual step of taking over heathcare liabilities from the Big Three. The reason being that pension fund costs for future retirees is adding a terrific sum to the expense sheet every year -- GM's costs alone were $4.8 billion in 2006, and combined costs ...


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