February 21, 2010

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Gm and Uaw Bargaining, Slowed by Health Care Issues

The bargaining negotiation between General Motors and United Auto Workers had been on going since last week through hourly extensions after the expiration of the contracts at midnight of September 14. The two parties are working on a new contract, but at the moment are focusing on the health trust proposal of GM for the retired UAW members.

GM has proposed to pay the union for the creation of a trust fund that will lift the billions worth of health obligation from the automaker, according to media reports, citing anonymous people involved in the talks.

There had been progress on the talks. Non-economic issues like grievance procedures, absenteeism and others had already been settled, according to the anonymous sources.

After rejecting the trust fund proposal of GM last Tuesday, UAW president Ron Gettelfinger called a Voluntary Employees Beneficiary Association or VEBA. However, the discussion on the trust fund still continued said one of the two sources.

“I can tell you its being worked on,” the person said Thursday.

GM had been appointed as the lead company representing Chrysler LLC (producer of Dodge air filter recharge kit) and Ford Motors. Whatever terms will be agreed upon by GM and UAW will also apply to the two other Detroit-based auto makers. With the benefits of the trust for GM, the lead company badly wants the union to agree to the trust proposal.

All economic issues like pay, work rules, job security promises and health care contributions will be dependent on an agreed VEBA making the negotiations slower.

In addition to very relevant information revealed by the two people, the UAW is said to be bargaining on taking the trust fund in return of GM’s creation of new vehicles in factories all over the US.

According to a note released by Deutsche Bank analyst Rod Lache for the investors, he said that the union had already agreed to the VEBA concept, but do not conform to the terms of the company.

“The UAW knows that GM cannot sign a contract that excludes a VEBA deal at this point, and that they cannot accept the consequences of an uncompetitive cost structure either,” Lache wrote.

“Without a VEBA deal, GM has threatened to begin a much more aggressive downsizing of its U.S. manufacturing base.”

The note also said that GM knows that if the negotiations failed, they are risking a strike.

“It is our belief that the most likely outcome is that GM and the UAW will reach a compromise and pursue a VEBA solution after a few days of drama,” he wrote.

About the Author

Evander Klum is a Business Administration graduate who hails from Alabama. He enjoys extreme sports and he is also a car racing fanatic. At present, he works as a marketing manager at an advertising agency in Cleveland.

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