It looks like Congressman Barney Frank (D-MA) is up to his antics again (will we EVER be rid of this moron?). GM is once again asking Congress for more bailout money, although it's not sure exactly how much more than the $13.4 billion previously allocated by the Treasury Department. GM's COO says that the company is certain that it will negotiate concessions with the UAW, including a reduction in labor and health costs. Under the guidelines for the bailout, the automakers have until February 17th to hammer out the details of how they will cut labor costs to be more in line with foreign auto manufacturers in the US. However, UAW President Ron Gettelfinger has said the union will approach President-elect Barack Obama's administration to end what he called unfair requirements in the loan terms for concessions from the union.
U.S. Rep. Barney Frank, D-Mass., has proposed getting rid of a requirement that GM and Chrysler negotiate labor cost parity with foreign-owned automakers that have U.S. factories.
Hourly wages for UAW workers at GM factories already are about equal tothe average of $30 per hour Toyota Motor Corp. pays at its older U.S. factories, according to the companies. But including benefits and the cost of providing health care to retirees, the Detroit automaker saysits total labor cost is around $69 per hour, compared with an all-inclusive cost of $53 per hour at Toyota.
Would someone from Barney's 4th congressional district in MA please call his office and inform him that he works for his constituents, NOT the UAW? His number is (202)225-5931.
10 hours ago