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GM and UAW reach tentative agreement to end month-long strike

7K views 98 replies 26 participants last post by  chinamonty 
#1 ·
GM and UAW reach tentative agreement to end month-long strike
https://www.foxbusiness.com/markets/general-motors-uaw-reach-tentative-agreement

October 15, 2019
Evie Fordham


The United Auto Workers announced a tentative agreement with General Motors on Wednesday to end the GM autoworkers strike that has lasted longer than a month.

"The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve,” Terry Dittes, vice president of UAW's GM Department, said in a statement. "Out of respect for our members, we will refrain from commenting on the details until the UAW GM leaders gather together and receive all details."

More at link
 
#8 ·
Found this someplace...

"Details of the proposed four-year deal were not disclosed. However, the union’s members with GM are expected to receive raises of 3% to 4% or lump-sum bonuses each year as part of the accord. The deal also will include the addition or retention of 9,000 hourly U.S. jobs and a “clear path” for temporary workers with three or more years to become full-time employees, according to two people briefed on the pact.

The company’s shares jumped by about 2.5% in morning trading before leveling off to close up by just over 1% at $36.65 a share. The stock of crosstown rival Ford Motor was flat, closing at $9.07 a share.

Under the deal, GM also will invest at least $9 billion in its manufacturing operations over the life of the contract, including production of an all-electric pickup for a plant in Detroit that was potentially slated for closure. UAW members also are expected to maintain their health insurance, which is considered “gold standard” and requires employees to cover roughly 3% of the total costs, according to one person familiar with the talks."
 
#13 · (Edited)
The most interesting detail to me is that they intend to keep D-Ham open to produce an electric pickup, which must be around the corner? Or do they just limp along with the current product until the truck is ready?

FWIW, Ford's F-150 BEV isn't here until MY 2022/3 and they've already been showing it in action with prototypes running around. GM must be really good at secrets.
 
#23 ·
Didn't they set up a lot of the battery infrastructure in that area when they first started making the Volt years ago, something like a joint LG Chem plant not far away, and wasn't Michigan giving a lot of incentives to the battery R&D groups to set up shop there? If a lot of that is still in place, it would make sense for that plant to be a core electrified vehicle plant.
 
#14 ·
Sounds like the unionistas came out of this nicely. A 3-4% annual raise, WTF? Military doesn't get that, I'll hazard they work a little harder for their pay than these siesta guys. Also getting almost all your health insurance paid is sweet and again, above and beyond what most Americans other than Congresshomies get.

And in return they'll...?:fall: Yeah, I thought so.
 
#16 · (Edited)
A lot of workers being interviewed are saying if the contract doesn't have everything they want then they will vote it down. Maybe just talking tough to the media but this just shows the lack of wanting to actually negotiate and just wanting everything they demand. Since the UAW negotiators knew this could happen I think it's just good enough to pass. However, I think people will be surprised how many workers will vote this down.
 
#17 ·
Hoo boy. Talk about cutting off your nose to spite your face.

GM needs someone like Crazy Henry's thug Harry Bennet to get in there and not back down an inch.
 
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#21 ·
There's a big difference between unrealistic reopening of plants
that GM just doesn't need anymore and, GM walking back on
some product placement decisions and sweetening the pot
with a few worker conditions and job security that doesn't
really sting GM all that much in the bigger sense.

I'd take those TV interviews with a grain of salt,
the media only reports extreme demands (good drama)
 
#22 ·
No matter what they sign, you cant stop the inevitable. What are they going to do, make transmissions in an electric car era?
This will only give GM enough time to separate things even more, to protect itself from future issues like this. They want to strike? Go ahead; in the meantime, make sure you bring the new cars on more ships or trains.
These people work at the company and they don't understand that GM only cares about profit and they will get it, one way or the other.
GMs dream is to build in China/Korea/Mexico for the cheapest labor available and sell for US prices.
 
#28 ·
Well, a lot of the UAW I have seen interviewed said that they would vote it down if Lordstown didn't reopen. Like I said before though, $11K for signing a piece of paper and getting back to work with pretty sweet pay and benefits will make them forget about their solidarity with their Lordstown brothers and sisters.
 
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#31 ·
They should all be fat and happy now that they have had their fill at the trough. Now we, the consumer, get to pay the increased prices to pay for the greed...as more sales go to manufacturers who don't have to put up with this nonsense and who continue to offer quality vehicles without the UAW extortion tax added on..
 
#34 ·
Yes, I guess so much focus was on Lordstown because of the size of the operation. I think Oshawa is still being converted to a parts and body stamping plant.
 
#43 ·
They can work with the Mexican drug cartels. The truck factories amazingly get unionized and the cartels have a good way to smuggle drugs into the United States.
 
#37 ·
GM ought to make the signing bonus only available to the union members that vote Yes to the contract. That would be interesting some leverage. I know that there are always a bunch of union diehards that always vote NO because they want to look like a bunch of bada$$es.
 
#39 · (Edited)
GM could have offered all of this straight up and saved itself a month of
strike. The terms aren't extortion as I think both sides got everything they were going to get. GM seems to have folded quicker than superman on washing day.

The absolute irony to all of this is that GM's deal is probably less in total
terms than what Ford and FCA will offer their workers.
 
#55 ·
What were they expecting to build at Lordstown if they got their way? GM made thr decision to pull out of the low margin compact segment....that's what kills me about the UAW, they're trying to decide for GM what cars they should be billing/selling....they're the labor, they're supposed to build what they're told to build, not dictate what's built.
 
#61 ·
Disagree. Unions are the death knell for unions. The Korean unions are perhaps worse and more aggressive than the 'murricans. But they all have suicidal myopia and a great love of a circular firing squad. The makers in the right to work states will do fine.
 
#63 ·
This contract is all chicken feed.
GM planned all of this way back when the last contract was signed in 2015,
it knew then that lots of buyers were switching to Utilities and used Mexico's
lower cost vehicles as a strategy to cut away at the UAW and its power.

In four years time, I expect that GM will have more bad news for the UAW
but this time, it will be US three shift plants gong to two shifts as more of
GM's production heads to Mexican plants. Another screaming match and
then another patch up deal...and so on.
 
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