freep.com - 1/9/2009
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WASHINGTON The UAW and its local unions are barred from striking General Motors Corp. as long as GM has loans from the federal government, according to the agreement GM signed with the Bush administration last month. The U.S. Treasury set myriad conditions on GM as part of the plan to loan the ...
freep.com - 1/10/2009
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freep.com —
WASHINGTON -- Concessions forced on the UAW could
be stripped from a $17.4-billion auto industry rescue plan,...
even as companies and the union would have to answer to a stronger car czar, under a bill unveiled Friday that House Democrats plan to vote ...
(more)
Auto loan terms could drop UAW givebacks | Freep.com | ...
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As a condition of loan, UAW cannot strike against General Motors
Democratic Underground Latest Breaking News —
... engage in a strike or other work stoppage. If the loans are in default, the Treasury has the power to call them back immediately and force GM into bankruptcy. The deal requires the UAW to accept by Feb. 17 a plan to lower wages and benefits for workers to match those of employees at foreign-owned U.S. plants by Dec. 31. It also requires the union to take two-thirds of the money its due for a retiree health-care trust fund in company stock rather than cash or company debt. Read more: http://www.freep.com/article/20090108/BUSINESS01/901081... Would somebody please post the ...
GM Auto Workers Prohibited from Striking
The Latest on Air America —
... : Not only that, but a strike would give the federal government the power to call in their loan -- putting the loan in default and forcing GM into bankruptcy. The government now has the power to force a bankruptcy if “any labor union or collective bargaining unit shall engage in a strike or other work stoppage.” The terms of GM's loan package were reported last night in the Detroit Free Press. They did not become public until GM filed documents with the Securities and Exchange Commission. The company's headquarters are pictured above right. Not everyone has felt the full ...
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