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GM Talks Resume With Optimism

Marathon yesterday yielded progress on financing for health-care trust
By Lucas Laursen,  Newser Staff
Posted Sep 17, 2007 12:42 PM CDT

(Newser) – Talks between GM and UAW reps resumed late this morning after a 16-hour session that ran to 3am and came close to an agreement on the key issue of shifting heath-care costs to a union-run trust.  Both sides confirmed good progress, and employees are on the job today, despite the contract expiration Friday night, the Wall Street Journal reports.

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But the situation is still tenuous, as the existing contract is being extended on an hour-by-hour basis and the sides still have significant areas of disagreement. A key sticking point has been how much GM will pay into the trust that will assume $50 billion in liabilities for health care coverage for current and retired employees. (Read more Detroit stories.)

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