Anyone else notice that most of these negotiations from the auto industry involve squeezing the workers? Nothing about modifying trade agreements or bad cars or their supply chain.....
Nope, the latest demands from Fiat involve wages and retiree health care benefits:
People close to the talks, however, said the union’s health care trust would most likely end up owning more than 20 percent of Chrysler.
That could make the trust, for a time, the single-largest stakeholder in the automaker.
The proposed alliance with Fiat would give the Italian firm an initial 20 percent stake in Chrysler, with an opportunity to increase its ownership to 35 percent.
The union is also in talks with General Motors about a similar arrangement to allow G.M. to contribute stock to finance half of a $20 billion health care trust for its retirees.
But the U.A.W. is concentrating now on Chrysler, which is rapidly running out of time to meet all the restructuring requirements out by the Obama administration.
Chrysler’s alliance deal with Fiat cannot be completed until the U.A.W. settles the health care issue, according to people close to the talks.
In addition, the Fiat deal is being held up by the lack of progress in discussions between Chrysler and the Canadian Auto Workers to substantially cut labor costs at the company’s Canadian operations.
I'm really wondering if all of those union members are regretting their vote decision last November.