Vendaval
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Latest on the negotiations between the UAW and GM.
"UAW members approve General Motors concessions"
By KIMBERLY S. JOHNSON and TOM KRISHER, AP Auto Writers Kimberly S. Johnson And Tom Krisher, Ap Auto Writers – 5 mins ago
"DETROIT – The United Auto Workers union has ratified a package of concessions designed to reduce General Motors Corp.'s labor costs.
UAW President Ron Gettelfinger said at a news conference Friday that 74 percent of GM's 54,000 U.S. production and skilled-trade workers voted in favor of the deal.
The vote comes before an expected Chapter 11 bankruptcy protection filing by GM on Monday. Bankruptcy experts say having the labor agreement in place will help move the process through court more quickly.
The UAW says the cuts will save GM $1.2 billion to $1.3 billion a year.
"We very much appreciate the support of our employees and retirees," Diana Tremblay, GM vice president for labor relations, said in a statement. "Their shared sacrifices will enable GM to become a stronger, more viable company that will continue to deliver world-class cars and trucks."
UAW leaders agreed to the revised contract last week that freezes wages, ends bonuses, eliminates noncompetitive work rules and ends the possibility of a strike until the next contract expires in 2015.
http://news.yahoo.com/s/ap/20090529/ap_on_bi_ge/us_gm_uaw
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