Skip to: Content
Skip to: Site Navigation
Skip to: Search

September 8, 2008 12:21:40 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

GM, UAW Talk Past Deadline

Posted Sep 15, 07 6:05 AM CDT in US,  Business 

(Newser) – The United Auto Workers and General Motors talked four hours past their midnight deadline for contract negotiations before agreeing to resume bargaining later today. They extended talks on an "hour-to-hour" basis on a deal that would include a union-controlled trust to assume GM's $50-billion liability for retiree health care.  

The UAW is open to the plan, the Wall Street Journal reports, but was asking for more funding for the trust than GM had offered. The UAW chose GM as the lead negotiator—and strike target—this year because GM is financially healthiest but also has the largest pension burden, according to the Journal, and any deal brokered with them should be acceptable to Ford and Chrysler.

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Sales Skid Again for GM, Ford, Toyota

    Sep 3, 08 3:10 PM CDT
    Sales Skid Again for GM, Ford, Toyota General Motors, Ford and Toyota reported dramatic declines in sales for August stemming from the weak US economy and record gas prices, Bloomberg reports. Ford's domestic sales plunged 27% and GM's 20%, and both automakers will cut second-half production by the tens of thousands. Toyota fared better, down just 9.4%, though all saw large declines in the sales of SUVs. More »

  • Chrysler Looks to Team With Nissan on Midsized Cars

    Aug 7, 08 7:41 AM CDT
    Chrysler Looks to Team With Nissan on Midsized Cars Chrysler is in talks to team up with Nissan to produce midsized cars, the Wall Street Journal reports, following an earlier deal to jointly produce pickup trucks and subcompact cars. The move could represent what the Journal calls a "radical new business model," in which Chrysler becomes a marketer and seller of cars made by others, rather than relying on its own engineering.


    More »

  • Rental Biz Sees Small-Car Shortage

    Jul 14, 08 6:43 AM CDT
    Rental car companies can't meet the soaring demand for more fuel-efficient small cars and are forcing irritated customers to take "upgrades" to gas-guzzlers. Rocketing gas prices are putting pressure on Hertz, Avis, and other companies to sell their luxury cars and SUVs to pay for fuel-efficient models. Bookings for economy cars at one major travel agency were up 14% while the demand for luxury cars plummeted 24%. More »

  • Pensions, Benefits Have GM Stalled

    Jul 10, 08 9:28 AM CDT
    Pensions, Benefits Have GM Stalled General Motors is suffering as oil prices surge and consumer spending wanes, Roger Lowenstein writes in the New York Times. But the biggest, and perhaps fatal, culprit of its recent troubles—with stock prices near a 50-year low—are the generous health care and pension benefits it agreed to lavish upon its workers more than 50 years ago. More »

  • Plunging Truck Sales Drive Ford Deeper Into the Red

    Jun 21, 08 9:12 AM CDT
    Plunging Truck Sales Drive Ford Deeper Into the Red Ford's recovery plans have been sent careening off the road by the continuing drop in truck and SUV sales, the Wall Street Journal reports. The company, which now expects this year's losses to top 2007's $2.7 billion, has given up hope of being back in the black by 2009. The ailing Detroit giant has cut production again and delayed the launch of its new F-150 pickup. More »

In this photo provided by General Motors, General Motors Chairman and CEO Rick Wagoner, left, and International UAW President Ron Gettelfinger shake hands to the kick-off the 2007 UAW-GM national contract...   (Associated Press)
Logos for General Motors and the United Auto Workers are shown on the UAW-GM Center for Human Resources in Detroit, in this July 31, 2007 file photo. The United Auto Workers union has picked General Motors...   (Associated Press)
Dave Green, left, president of United Auto Worker Local 1714, tells some of union members what he knows about the possibility of a strike, at the local hall in Lordstown, Ohio, early Saturday, Sept. 15,...   (Associated Press)
The General Motors Corp. Lordstown, Ohio, Assembly Plant is shown in this photo taken Jan. 12, 2001. Assembly workers at the GM plant in Lordstown in northeast Ohio were among those preparing to strike...   (Associated Press)
United Auto Workers President Ron Gettelfinger, left, and Ford Motor Co., Executive Chairman Bill Ford shake hands to open their contract talks at Ford World Headquarters in Dearborn, Mich., Monday, July...   (Associated Press)
In this photo provided by General Motors, General Motors Chairman and CEO Rick Wagoner, left, and International UAW President Ron Gettelfinger talk at the bargaining table after shaking hands to the kick-off...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 4)

Tags

auto industry  • General Motors  • Detroit  • Ford  • Chrysler  • United Auto Workers


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »