Put the Brakes on Car Chiefs' Pay: UAW Boss
Loans necessary to escape temporary bind, he adds
By Ambreen Ali,  Newser User
Posted Dec 1, 2008 4:11 AM CST
Union leader Ron Gettelfinger.   (AP Photo/Paul Sancya)
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(Newser) – The nation's Big Three automakers should pledge to limit executive pay—including bonuses and severance packages—in exchange for federal money, insists the president of the United Auto Workers. Ron Gettelfinger warned that everyone is going to have to tighten his belt, including the rank-and-file, in order to save jobs. He called federal aid a "bridge loan that will get us through until we can take a longer term look at what needs to be done."