Members of the UAW and Chrysler shook hands this morning at the beginning of their labor talks. Wonder how long the "niceties" will remain once they get into hard discussions? Talks with GM and Ford begin on Monday. The next month or so will be interesting to watch...
Actually, they will be more than interesting, as what happens in the next few weeks could well determine the future of the domestic auto industry.
Full story here.
Here's AutoObserver's take: UAW-Big Three: The Showdown Begins
Full story here.
Here's AutoObserver's take: UAW-Big Three: The Showdown Begins
estreka says:
08:44 AM, 07/20/07
The UAW should ask for caps on executive bonuses and pay. The Christmas special Ford execs gave themselves last year was appalling.
ateixeira says:
09:29 AM, 07/20/07
I have a friend that used to work for Ford and was laid off. She got a bonus this year for last year's work, this AFTER SHE HAD LEFT FORD!
Even she was surprised. Why give bonuses to people who already left your company?
No wonder they can't make a profit.
Hopefully Chrysler is smarter than that, and I think putting a cap on bonuses and even restricting them entirely when a company doesn't make a profit would make sense.
Why should a CEO get a bonus if the compnay he runs loses money?
crowb says:
12:43 PM, 07/20/07
I agree. A lot of CEOs now are taking a $1.00 salary as a formality and making their actual income on the value of the stock. Essentially, if they lead the company properly, the stock value goes up, and they can then make use of their stock options to receive monetary compensation. So like ateixeira says, why should a CEO get paid if the company isn't making a profit. In a case like this, a CEO wouldn't. I know that the guy in charge at google is doing the $1.00 salary thing. I can't think of any others right now, but I know the trend is growing. Be nice to see more execs put their talent on the line.
It would also be nice to see the UAW make some concessions as well though.
estreka says:
01:42 PM, 07/20/07
I completely agree with you crowb. But Mulally and Ford took $1million+ bonuses last December. With choices like that, I can certainly understand the kind of frustration the UAW is having.