Results 1 to 1 of 1

Thread: checking the fine print on the new GM - UAW contract

  1. #1
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default checking the fine print on the new GM - UAW contract

    from

    (snip)"But GM promised to keep all 16 of its U.S. assembly plants through the four-year contract and spelled out ambitious investment plans for 12, including some that were at risk of closing.

    The UAW's national council unanimously endorsed the contract at a meeting in Detroit on Friday, sending the deal to 73,000 GM workers for ratification in a series of votes expected to conclude by Oct. 10.

    "We are very, very pleased about the outcome of those discussions," UAW President Ron Gettelfinger told reporters.

    Some analysts said the agreement's details raised questions about what GM had traded away in exchange for the ground-breaking deal to establish a health-care trust.

    "I think they may have overpaid with job security," said Erich Merkle, an analyst at IRN Inc, who said it was hard to see how GM could justify keeping all the U.S. plants open."(snip)


    The unspoken point here is that GM made no promises whatsoever to the UAW or anybody else keep CANADIAN GM plants open ! Given that the rising Canadian dollar has caused the US dollar denominated operating costs for Canadian plants to increase by some 14% in the last year (keeping in mind that GM keeps its books, writes its paychecks, and prices its stock in US dollars), you can bet that Oshawa, Windsor, St Catherines, Woodstock etc. are now at the top of the GM 'target' list - with the 'work' currently being done at GM's Canadian plants being transferred to other GM plants south of the border in order to keep their pledge to the UAW.

    ~
    Last edited by Melonie; 09-29-2007 at 08:46 AM.

Similar Threads

  1. Replies: 0
    Last Post: 07-25-2008, 03:18 PM
  2. Replies: 26
    Last Post: 02-14-2008, 03:44 PM
  3. cranberry juice, read the fine print.
    By Corgan in forum Body Business
    Replies: 25
    Last Post: 11-21-2007, 11:14 AM
  4. Replies: 9
    Last Post: 09-30-2007, 04:05 PM
  5. Friggin A!!!!! ALWAYS read the fine print
    By Marissa4U in forum Dollar Den
    Replies: 3
    Last Post: 06-06-2007, 02:08 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •