The UAW plans to release details of its tentative contract with GM members this week. But people familiar with the deal indicate it includes the following provisions:
• A $5,000 signing bonus
• Profit-sharing based on income from all GM's North American operations, not just the U.S.
• Increase in second-tier wage of about $3 an hour over four years
• No major changes in retiree benefits
• Thousands of new jobs
http://www.freep.com/article/20110918/BUSINESS0104/109180565/UAW-GM-contract-detailsDoesn't the UAW still own a large chunk of GM shares? I read elsewhere that Ford and Chrysler will be under pressure to meet these new contracts.
Note that bolded part of above. Kind of tells me that they want to piggyback on the lower wages paid in Canada and Mexico.
