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BUSINESS
June 30, 2007 | From Times Wire Services
United Auto Workers union members have approved a contract agreement with auto parts maker Delphi Corp. that slashes wages and allows some plant closings but preserves jobs for thousands of workers. The ratification comes after two years of contentious negotiations and averts a threatened strike that would have crippled Delphi's former parent, General Motors Corp.
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BUSINESS
June 23, 2007 | From Times Wire Services
Struggling auto-parts maker Delphi Corp. reached a tentative wage-cutting pact with its largest union in what may set the pattern for pay in the U.S. vehicle-parts industry. Details of the accord were not released. The pact was a condition of an equity investment of as much as $3.4 billion that Troy, Mich.-based Delphi needs to exit Chapter 11 bankruptcy proceedings. United Auto Workers officials said the pact would cut wages for longtime workers from around $27 an hour to $14 to $18.50 an
BUSINESS
June 19, 2007 | From the Associated Press
Chrysler may get the same healthcare concessions from the United Auto Workers that its Detroit-based competitors received two years ago. Union President Ron Gettelfinger said Monday that the UAW must find a way to give Chrysler a deal similar to what it gave Ford Motor Co. and General Motors Corp. in 2005. "We've been talking to Chrysler quite frequently. We do need to find a way to fix the problem there now that Chrysler is in a downward mode," Gettelfinger said on a Detroit radio show.
BUSINESS
May 17, 2007 | From Times Staff and Wire Reports
The United Auto Workers union said it received a guarantee that the pension fund for Chrysler workers would get an additional $1.2 billion as a result of the pending sale of the struggling automaker. UAW President Ron Gettelfinger said both Chrysler's current parent, Germany's Daimler, and its next owner, Cerberus Capital Management, would contribute to the pension plan.
BUSINESS
April 19, 2007 | From Reuters
United Auto Workers President Ron Gettelfinger, who sits on DaimlerChrysler's board, said Wednesday that he would press the German carmaker to keep its U.S.-based Chrysler Group unit. Gettelfinger, speaking to reporters at Chrysler's headquarters in Auburn Hills, Mich., said the union believed that it was still an option for Daimler to retain Chrysler despite a sale process that began in February and has been credited with pushing shares of DaimlerChrysler sharply higher since.
BUSINESS
March 29, 2007 | From Bloomberg News
The United Auto Workers union rejected wage concessions proposed by Delphi Corp. and a group of private equity firms, jeopardizing a $3.4-billion investment aimed at pulling the auto-parts maker out of bankruptcy protection. "It was a pathetic offer," UAW Vice President Cal Rapson said of the 29-page offer from the company and six investors led by Cerberus Capital Management. If the investors walk away, Delphi may ask a U.S. Bankruptcy Court judge to scrap the UAW contract.
BUSINESS
March 16, 2007 | From the Associated Press
General Motors Corp. will seek relief from its $68-billion post-retirement employee healthcare obligation in contract talks with the United Auto Workers union, according to an annual report filed with federal regulators. In the filing Thursday with the Securities and Exchange Commission, GM said that healthcare was its largest competitive disadvantage and that the burden could grow.
BUSINESS
March 1, 2007 | John O'Dell, Times Staff Writer
Chrysler Group and the United Auto Workers union said Wednesday that they had reached agreement on a buyout and early-retirement plan aimed at helping the ailing automaker slash 9,000 hourly jobs from its U.S. payroll. In letters sent this week to thousands of the company's manufacturing workers, Chrysler is offering a $100,000 cash buyout or, to those eligible, an early-retirement package that includes a $70,000 cash payment. Spokesman Mike Abrerlich said the automaker, the U.S.
BUSINESS
September 9, 2006 | From Reuters
DaimlerChrysler said it was unable to reach an agreement with the United Auto Workers union on reducing the company's U.S. healthcare costs. UAW President Ron Gettelfinger said the union had ruled out granting Chrysler the rollback concessions won by General Motors Corp. and Ford Motor Co. DaimlerChrysler said it would spend $2.3 billion on healthcare this year, making that the company's largest single fixed cost.
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