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]
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]
