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UAW seeking GM board seat -union official

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Omaha Steve Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 07:23 PM
Original message
UAW seeking GM board seat -union official
Source: Reuters

DETROIT (Reuters) - The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.

In a posting on the UAW Local 2404 website, local president Marc McQuillen said union leadership had said rank-and-file workers would have to ratify new concessionary contract provisions for GM by March 31.

The UAW will also offer another round of buyouts in 2009 if government bailout funds are provided to GM and allowed to be used for that purpose, McQuillen said.

"In return for these actions, the UAW seeks an equity stake in the company most likely in the form of a board seat," McQuillen said.


Read more: http://www.reuters.com/article/americasDealsNews/idUSTR...
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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 07:32 PM
Response to Original message
1. Fuckin' A
Now we're talking.

If unions REALLY have a shot at being on the inside, calling the shots, then maybe SOMETHING can get done to consider the plight of the workers.

I heartily approve.

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tclambert Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 06:07 AM
Response to Reply #1
13. One seat doesn't mean they could call the shots. But they would have an observer on the inside.
That would be enough to put some checks on the most egregious actions of the board, the kind of thing they only do in secret because they're ashamed of what they're doing, or afraid they'll go to jail if it comes to light. If there had been a union rep on the board of Enron, someone might have said, "Wait! Isn't that illegal? Won't that cost workers their pensions?"
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 07:38 AM
Response to Reply #13
16. I think Enron knew they'd cost workers their pensions and didn't care. nt
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w4rma Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:10 PM
Response to Original message
2. Very good. (nt)
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alfredo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:42 PM
Response to Original message
3. The workers control the means of production.
I like the sound of that.
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lovuian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:44 PM
Response to Original message
4. Europe does this and its a good thing the worker is represented
should have been done long ago
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unkachuck Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:14 PM
Response to Original message
5. Excellent!
....if the workers are putting up equity in the form of concessions, then they should have a seat at the table....
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Bozita Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:14 PM
Response to Original message
6. The jobs bank alone is worth a seat. If the UAW gives more, well ...
... let's make it a fair exchange.

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blue_onyx Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:18 PM
Response to Original message
7. Great...the UAW has been giving a lot
and it's about time they start demanding something in return.
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MilesColtrane Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 10:15 PM
Response to Original message
8. Oh Hell Yeah
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Odin2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 10:30 PM
Response to Original message
9. Hell yeah!!!
IMO they should try to buy the company outright.
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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 10:33 PM
Response to Original message
10. About time
Thanks Steve.....I hope this idea goes further to all unions.
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Waiting For Everyman Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 12:25 AM
Response to Original message
11. K&R
Yes, should've been done long ago. A no-brainer.
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Sherman A1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 05:10 AM
Response to Original message
12. How about ALL of them
Let the workers control the Board and I think we will see the fixes that need to be made enacted.
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shadowknows69 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 07:22 AM
Response to Reply #12
15. Hear hear. Give the UAW 25 billion and let them Buy the big 3
I'll bet that would keep some Americans employed.
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 06:23 AM
Response to Original message
14. and SEIU wants to unionize bank workers
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harun Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 08:28 AM
Response to Original message
17. Now we're talking!
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defendandprotect Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 08:53 AM
Response to Original message
18. Something that makes sense ...wow!
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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 08:54 AM
Response to Original message
19. How about HALF of the board seats
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