| Page 3 of 3 < |
UAW Offers Detroit Concessions
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
While the UAW can delay VEBA payments and eliminate the Jobs Bank without a vote of the membership, further concessions would require a vote.
"We recognize that going forward there's going to be a restructuring of the companies and all the stakeholders are going to have to make sacrifices, and we're prepared to do our part," said Alan Reuther, the union's Washington legislative director. "But that path forward, as painful as it may be, is preferable to bankruptcy, not only for our workers but also for the economy and whole country."
Robert L. Shanks, a Ford vice president and controller, said that UAW concessions on the program aiding laid off workers, known as the Jobs Bank, would be helpful, but that Ford has only about 1,200 workers in the program, which costs the company about $120 million. While that number is substantial, it pales next to the $9 billion to $13 billion Ford said it might need if the economy weakens.
For now, Mulally said, "We don't want to borrow any more money." He added that if Ford were to need the full $13 billion, it was because the company faced a worst-case scenario that assumed "depression-level economics."
Gettelfinger in Detroit said that neither the companies nor the unions were to blame. "I want to stress that this issue is not brought on by the companies. It certainly wasn't brought on by our union," he said. "We're just in a major economic downturn that's rapidly spreading around the world."
Staff writers Kendra Marr and Thomas Heath contributed to this article.
