Posturing from all sides continues over the gridlocked auto restructuring talks.
The UAW, in an urgent e-mail to members and retirees, is asking them to contact the White House directly today over the ongoing negotiations with the Auto Task Force and related parties to the auto restructurings. The union apparently is unhappy with what is being asked for in terms of wage and benefit cuts for its members and retirees by the managements of Chrysler and General Motors. Further details about proposed cuts were not provided by the UAW.
“We need President Obama and his auto task force to stand up for the interests of workers and retirees in these restructuring negotiations,” the UAW said. “Please call or e-mail President Obama right away on this critically important issue. Tell him to insist that workers and retirees must be treated in a fair and equitable manner in any restructuring plans!”
“Once again, it’s time for all of us to stand up for active and retired U.S. auto workers. Please contact President Obama today at 1 (202) 456-1414, or send him an e-mail at http://www.whitehouse.gov/contact.”
Continued Federal government support by way of taxpayer financed loans is contingent on revised plans from Chrysler that must be completed by the end of April. At General Motors the restructuring must be completed by the end of May. The Obama administration rejected previous versions of the plans as “not viable.”
Negotiations are gridlocked in a stand-off between the union and bondholders at both General Motors and Chrysler. The union accuses bondholders of not giving enough to make the revised plans viable. Bondholders say the union is not cutting costs enough. Neither side is willing to make further concessions until the other side does. Both sides are using the media and lobbyists to argue their cases.
The UAW told its members that it is actively involved in the complex restructuring negotiations, which involve the Obama auto task force, Chrysler and GM management, Fiat, bondholders and secured lenders, dealers, parts suppliers, and other stakeholders. “These negotiations will have a major impact on wages and benefits for active and retired UAW members.”