With their new contracts now in hand, could the UAW become (really big!) shareholders at both GM and Ford?The new labor agreements that UAW now has with the Detroit automakers move retiree health care costs to an independent trust under the control of the union. As such they could take control of hundreds of millions of shares of General Motors Corp. and Ford Motor Co. This could mean that the UAW could virtually be holding almost one-sixth of the equity in the nation's two biggest automakers...
Needless to say this could well impact on the way the union thinks and acts—and influences both GM and Ford.
"Equity as part of the VEBA does bring the UAW membership into being an investor group," said David Cole, chairman of the Center for Automotive Research in Ann Arbor. "What we are witnessing is the transformation from a confrontational way of working to one of collaboration, which is absolutely necessary."
Full story here.
"Equity as part of the VEBA does bring the UAW membership into being an investor group," said David Cole, chairman of the Center for Automotive Research in Ann Arbor. "What we are witnessing is the transformation from a confrontational way of working to one of collaboration, which is absolutely necessary."
Full story here.
estreka says:
12:58 PM, 11/19/07
Of course. Give retirees their own pension fund and guess where they'll invest it? I still say the UAW is dead, though.