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AutoBlog: Are GM, UAW close to concessions agreement... or are they at odds over China?

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Filed under: China, Government/Legal, Hirings/Firings/Layoffs, Plants/Manufacturing, GM, Earnings/Financials, UAW/Unions

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Depending on who you choose to listen to, General Motors and the United Auto Workers are either close to forging an important concessions deal, or they're still squabbling over GM's plans to sell imported vehicles to U.S. consumers.

GM and the UAW are in talks trying to slash $1 billion in annual labor costs, with reports stating that the plan would give the union a 39% stake in GM to help fund the Voluntary Employees Beneficiary Association (VEBA) health care trust. GM already has around $15 billion invested in the VEBA, but it is still on the hook for some $20 billion. If reached, the new deal would reportedly cut that figure in half.

The agreement, which the Wall Street Journal says could be reached as soon as this week, will still need to be voted on by the UAW's 60,000 GM employees, who themselves also face upwards of 20,000 more job layoffs as well as more wage and benefit cuts.

Conversely, the Associated Press is reporting that the issue remains very much in doubt, with GM and UAW negotiators battling over GM's plans to sell vehicles built overseas - namely those from China - in the U.S. While GM officials reportedly say that the balance of vehicles it makes and sells in the U.S. will not change, UAW officials are rankled that its members face 16 more plant closures and a slate of givebacks. In fact, according to the AP, the UAW is so upset that it has sent an email to its members asking them to voice their displeasure by contacting President Obama.

[sources: The Wall Street Journal; The Associated Press | Image: Spencer Platt/Getty]

Are GM, UAW close to concessions agreement... or are they at odds over China? originally appeared on Autoblog on Mon, 18 May 2009 11:00:00 EST. Please see our terms for use of feeds.

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Interesting, I don't blame GM for wanting to import cars. If I had to deal with the Unions and could make more money on good quality imports I sure would. I hope the Union cares enough that they realize they need to GIVE ALOT in order for GM to live on. Chapter 11 can't come soon enough. In the same breath GM also needs to cut exce bonuses and such to people who have helped run the company into the ground and not changed things sooner.

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F*** GM, they take my taxpayer dollars and then import more cars from asia. Whats the difference now between buying Gm and Toyota? I want to support American car companies (even NAFTA wouldn't be so bad) but GM is making it impossible on car line at a time.

GM what don't you get, you tried bring the Lemans in the 80's, the the G3 now, get over it, we don't want non American American cars.

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It is just a friendly reminder GM could live on without the UAW very easily.

GM is just letting them know they can be replace very easy if they do not become competitive.

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I agree with HyperV6 that the few auto's from China is a reminder to the UAW that you need to deal in good faith or be replaced. UAW will be stupid if they do not deal in good faith and come to the table with a fair deal for all.

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It is just a friendly reminder GM could live on without the UAW very easily.

GM is just letting them know they can be replace very easy if they do not become competitive.

You darn right! AMEN! :unitedstates:

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F*** GM, they take my taxpayer dollars and then import more cars from asia. Whats the difference now between buying Gm and Toyota? I want to support American car companies (even NAFTA wouldn't be so bad) but GM is making it impossible on car line at a time.

GM what don't you get, you tried bring the Lemans in the 80's, the the G3 now, get over it, we don't want non American American cars.

The purpose is to blur the lines.

A generation hence and it'll no longer matter.

In that we strive to have a service-based economy, we've even failed in that thus far. IT jobs go offshore regularly as we become the tide lifting the rest of the globe's boats and the playing field, so-called, is levelled. (to mix metaphors)

We'll just have to seek to become more educated until we struggle to lift our ponderous information-stuffed noggins. Manufacturing continues to be on the way out here. We owe too much to China and other perpetually developing nations to stem the loss of jobs, the loss of the living standard for the working middle-classes.

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F*** GM, they take my taxpayer dollars and then import more cars from asia. Whats the difference now between buying Gm and Toyota? I want to support American car companies (even NAFTA wouldn't be so bad) but GM is making it impossible on car line at a time.

GM what don't you get, you tried bring the Lemans in the 80's, the the G3 now, get over it, we don't want non American American cars.

Well they probably figured it's worked for Toyota, and people buy their junk so what the hell they might as well do it too, because making them here sure as hell hasn't been working.

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Let GM go into bankruptcy and give the union a controlling stake in the reorganized company. Throw the current board out!

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Let GM go into bankruptcy and give the union a controlling stake in the reorganized company. Throw the current board out!

While theoretically the union members should work harder for their company if they owned it, i can see the higher ups who are more than likely at least somewhat corrupt ruining the company if that happened.

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While theoretically the union members should work harder for their company if they owned it, i can see the higher ups who are more than likely at least somewhat corrupt ruining the company if that happened.

You will see the Union totally corrupt the company and quality become history as the company will then totally die. :confused0071:

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It is just a friendly reminder GM could live on without the UAW very easily.

GM is just letting them know they can be replace very easy if they do not become competitive.

Yep. You got it.

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Let GM go into bankruptcy and give the union a controlling stake in the reorganized company. Throw the current board out!

You're kidding right? You want the UAW to run GM? How long to you want the company to last?

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