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FRIDAY, NOVEMBER 27, 2009
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Put the Brakes on Car Chiefs' Pay: UAW Boss

Loans necessary to escape temporary bind, he adds

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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."

Union leader Ron Gettelfinger.
Union leader Ron Gettelfinger.   (AP Photo/Paul Sancya)
United Auto Workers' President Ron Gettelfinger testifies at a Senate hearing earlier this month.
United Auto Workers' President Ron Gettelfinger testifies at a Senate hearing earlier this month.   (AP Photo/Manuel Balce Ceneta)
Auto industry executives, from left, General Motors Chief Executive Officer Richard Wagoner; Chrysler Chief Executive Officer Robert Nardelli; Ford Chief Executive Officer Alan Mulally; and UAW Ron Gettelfinger testify on Capitol Hill.
Auto industry executives, from left, General Motors Chief Executive Officer Richard Wagoner; Chrysler Chief Executive Officer Robert Nardelli; Ford Chief Executive Officer Alan Mulally; and UAW Ron Gettelfinger...   (AP Photo/Gerald Herbert)
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jaguarj
Dec 1, 08 10:14 AM CST
What do they mean they should pledge to limit pay, bonuses and severences....it should be MANDATORY!!!!! Reply
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