UAW's King Says Workers Must Share in U.S. Automakers' Turnaround

[Omaha Steve]

http://www.bloomberg.com/news/2011-01-05/uaw-s-king-says-workers-must-share-in-u-s-automakers-amazing-comeback.html

By Keith Naughton - Jan 5, 2011 8:23 AM CT

United Auto Workers President Bob King said union members’ sacrifices allowed U.S. automakers to survive and that workers deserve to share in the industry’s new prosperity.

“All the sacrifices that our members made to turn these companies around were part of the process that’s really led to this amazing turnaround,” King said in a telephone interview yesterday. “We want our membership to share in a very meaningful way in the upside of these companies.”

King, 64, elected president of the union last June, will negotiate new contracts this year with General Motors Co., Ford Motor Co. and Chrysler Group LLC. While the accords don’t expire until September, King said he is already discussing with the companies how to reward workers. He has said UAW members each gave $7,000 to $30,000 in concessions to automakers since 2005.

GM, Ford and Chrysler yesterday reported their U.S. sales rose 13 percent last year. Their combined U.S. market share rose to 45.1 percent, from 44.2 percent, while Asian automakers lost ground, according to researcher Autodata Corp. of Woodcliff Lake, New Jersey. That came a year after GM and Chrysler went bankrupt and after Ford lost $30 billion from 2006 through 2008.

“We’ve expressed very strongly” the union’s view to GM, Ford and Chrysler, King said. “And they’re very interested in finding a way to make sure our members do share in the upside.”

FULL story at link.

[Psephos]

1. New prosperity?

Maybe after the bailouts are paid back there can be talk of "prosperity."

As it is, the only reason GM and Chrysler are still in business is because taxpayers stepped in to shield the companies and labor from the folly of decades of terrible decision-making, inefficiency, and market-share loss.

[Name removed]

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