GM News: GM-UAW Deal Could be Near

[Drew Dowdell]

Negotiators have been meeting daily since the UAW went on strike on September 16th and according to sources, the two sides are nearing a deal as talks have intensified over the last 48 hours. All of the issues have reached the "Main Table" and are out of subcommittee which is a sign that a deal is imminent.

The initial offer from GM included $7 billion in investments in eight of its US facilities, while also adding 5,400 new jobs.  The UAW rejected the initial offer saying that it wasn't enough in terms of pay raises, healthcare, and tenure requirements. GM also offered an $8,000 signing bonus per member to accept the deal. 

The primary issues are GM's use of temporary workers and the slated closure of a number of plants.  

If a proposal is reached, the union has to take the proposal to the GM-UAW council and then to team members to approve.  It usually takes two weeks for that process, but could be expedited if the UAW decides to keep striking during the voting process. 

This is the first national strike against GM since 2007 and the longest since the 1970s. The strike is estimated to be costing General Motors $50 million a day. 

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[G. David Felt]

Hopefully GM is not giving into too many demands as they are already the best they have.

[USA-1]

How long was the strike in the '70's? The one I was a witness to while working for a Chevrolet Cadillac dealer in the Summer of 1998 was around 60 days long, one of the longest in automotive history. I'm reading GM is losing approximately $90M/day per B of A, now totaling nearly $1B lost.

Meanwhile, Ford and FCA top brass are wringing their hands ready for their round of negotiations, knowing GM took the fall (and lose) for them again...

[G. David Felt]

32 minutes ago, USA-1 Vortec 6.2 said:

How long was the strike in the '70's? The one I was a witness to while working for a Chevrolet Cadillac dealer in the Summer of 1998 was around 60 days long, one of the longest in automotive history. I'm reading GM is losing approximately $90M/day per B of A, now totaling nearly $1B lost.

Meanwhile, Ford and FCA top brass are wringing their hands ready for their round of negotiations, knowing GM took the fall (and lose) for them again...

Long ways to go but as multiple stories all over say, 67 days in 1970 from September 14th to November 23rd 1970.

Be interesting to see what they do with the bonus program as GM paid every worker $1,000 per Billion dollars earned gross. That allowed GM to pay out a $10,750 bonus check last year. This year they were on target to break $11,000 on par with the last 2 years, but now with the strike, I am sure this will be much less as they also will figure in the signage bonus to accept the new contract.

Anyone know if they have settled on a 3 or 5yr contract?  I know GM was wanting a 5yr, but everything in the news seems to imply a 3yr is the focus.

[USA-1]

11 minutes ago, dfelt said:

Long ways to go but as multiple stories all over say, 67 days in 1970 from September 14th to November 23rd 1970.

Be interesting to see what they do with the bonus program as GM paid every worker $1,000 per Billion dollars earned gross. That allowed GM to pay out a $10,750 bonus check last year. This year they were on target to break $11,000 on par with the last 2 years, but now with the strike, I am sure this will be much less as they also will figure in the signage bonus to accept the new contract.

Anyone know if they have settled on a 3 or 5yr contract?  I know GM was wanting a 5yr, but everything in the news seems to imply a 3yr is the focus.

Haven't heard, I don't think they have officially agreed yet. Drew any breaking News?

[Drew Dowdell]

Nothing on the ticker so far

[USA-1]

Sounds like it could be another week of negotiations. UAW still not being reasonable and GM is holding strong after last offer because they know if they give the UAW everything they want it will be a painful 4+ years. Chatted with my Cadillac dealer buddy who said they were supposed to get 3 CT6-V Blackwing's by Oct. 9th, now delayed because of this ridiculous UAW BS.

  https://www.freep.com/story/money/cars/general-motors/2019/09/29/gm-strike-uaw-update-status/3788205002/

[G. David Felt]

Another Day, Another Dollar and the strike continues on, seems GM and the Union leadership are farther apart than everyone thought.

https://www.autonews.com/assets/html/uaw2019/index.html

Yea, kinda stupid what the union is asking for.

[USA-1]

1 hour ago, dfelt said:

Another Day, Another Dollar and the strike continues on, seems GM and the Union leadership are farther apart than everyone thought.

https://www.autonews.com/assets/html/uaw2019/index.html

Yea, kinda stupid what the union is asking for.

You mean another day another $82 million dollars? ?? B!tching about GM moving towards EV's and how they require less parts and are easier to assemble which requires fewer workers. Cry me a River UAW!

https://techcrunch.com/2019/10/01/auto-workers-strike-pushes-gm-losses-past-1-billion/

Edited October 1, 2019 by USA-1 Vortec 6.2

[USA-1]

2 hours ago, dfelt said:

Another Day, Another Dollar and the strike continues on, seems GM and the Union leadership are farther apart than everyone thought.

https://www.autonews.com/assets/html/uaw2019/index.html

Yea, kinda stupid what the union is asking for.

Those graphs and charts from your link at autonews.com really tell an eye opening story of how the Big 2 and FCA are getting royally screwed over by the UAW. I hope GM keeps up the fight, they really need to stick it to 'em! 

[USA-1]

Just read that GM and UAW have reached a tentative agreement today. Let's hope it holds!