Originally Posted By: MisterJLA
"...The U.A.W. agreement cuts some retiree benefits, saves G.M. $13 billion by giving a union retiree health care fund up to 20 percent of the equity in the restructured G.M. and prevents the union from striking until at least September 2015.

In return, the union persuaded G.M. to build more of the vehicles that it sells in the United States at union factories in America, rather than importing them from low-wage countries like China. G.M. said Friday that the percentage of domestically built vehicles sold in the United States would rise to more than 70 percent by 2013, from 67 percent today."


How exactly is that a concession?

They took "some cuts" in retiree beneftis, but now they have equity in G.M...granted, the stock ain't worth shit right now, and G.M. will supposedly save 13 billion, but I don't see this as a major sacrifice...G.M. will also build more cars in America, which appeases the union, so how is that a sacrifice, too?


Depends I suppose how much you value your retirement. Having what is probably a chunk of it invested in a company that has virtually no value would be a big deal to me.

Fair play!