UAW: Greed is Good
The Detroit News reports that a "substantial signing bonus" could seal the deal on the new UAW contract with GM. The
bribe bonus would be "something they could sell to members without making a long-term commitment that locks GM into something it can't afford down the road." The amount of the bonus hasn't been stipulated, but it's bound to be quite a chunk of change– especially piled on top of the billions GM will have to cough-up for the union-administered VEBA health care superfund that everyone but the retirees it'll cover seems to want. If the negotiating pattern follows past behavior, Ford and Chrysler will be expected to fork-out the same bribe pay out. Cerberus may be able to pull some cash for bonuses out of its deep pockets, but Ford isn't exactly flush. The UAW better finesse this one, lest they kill that proverbial goose.
More by Frank Williams