We have a dog back in the hunt...

Looks like Chrysler and UAW have agreed to the same reductions as CAW... Read it on Foxnews.com.

 

Can you provide a link...sounds like good news!

 

http://www.foxnews.com/story/0,2933,518006,00.html

 

Im not really good with all this policial/buisness stuff. What does it mean, sounds to me like theyre just going to get more money to cover benefits for the workers??? I guess that means theyre keeping their jobs?

 

it means that chrysler doesnt have as high operating cost. it lowers them down to the same bracket as jap. manufacturers. trimming off some fat... making them lean!

 

What it really means is all hurdles for Fiat to buy in are cleared but one, the debt. They want a good chunk of the debt gone in exchange for a 5% (last I knew) of the company. The debt holders wanted much more than that. It all needs to play out in the next 4 days.

GM and Ford workers are not going to be happy to see this.... Cuts will be coming from them as well, I am sure GM and Ford execs are smiling for the first time in a while.

 

This is a good thing. The company will end up shedding it's pension and retiree health care programs and cut labor costs. As most of the creditor's involved have already received bailout money, I'm sure they will be coerced into signing on. The whole deal was just waiting on the unions to come around. IMO, if they freeze the uaw agreement for 5 years, cap salaries for management, and continue to turn out the level of product that they are now, then there is no reason that they can't become strong again. The only thing that worries me about the whole deal is having administration officials on the board of directors as they will not neccessarily be making decisions that are in the best interest of the company, but instead may stress it with decisions based on a political agenda.

 

How is cutting pension plans, retiree health care programs, and labor cost a good thing? You sound like a lawyer. Your defiantly not a working man.

 

because if they don't do this they will cease to exist - union wages/pensions are way to high for what the workers do and they need to compete with the other car
manufacturers that have lower labor costs, simple as that. people no longer buy only on American pride, they want the best car for the $$$. American cars are MUCH better than in the past but the labor cost has been and is killing them

 

Union wages/pensions are way to high for what the workers do? I worked at Toyota TMMK for 5 years. Have you worked on an assembly line? Yeah the team members at Toyota just love their jobs trust me.