[lbo-talk] Fwd: WSJ NEWS ALERT: UAW Local Leaders Approve Contract With GM

Doug Henwood DHENWOOD at PANIX.COM
Fri Sep 28 11:28:11 PDT 2007


NEWS ALERT from The Wall Street Journal

Sept. 28, 2007

United Auto Workers local leaders have approved the union's historic contract with General Motors, and the UAW's 74,000 members are expected to vote on the contract next week. Under details of the pact released today, GM will fund a new health-care trust for retiree liabilities with $29.9 billion up front and $5.4 billion down the road. Also, GM has made binding product investment commitments to the UAW at 16 union-represented plants in the U.S., including sites that were believed to be endangered. GM will offer $3,000 signing bonuses to workers and lump-sum payments in coming years.

FOR MORE INFORMATION, see: http://online.wsj.com/article/ SB119099979248142860.html?mod=djemalert
>



More information about the lbo-talk mailing list