Detroit Drops $305m On UAW Retiree Bonuses, Scrooges Actual Workers
It’s the most wonderful time of the year, as the Detroit automakers reach for their checkbooks and write out annual cost-of-living adjustment bonus checks, known fondly among workers as the annual “Christmas Bonus.” This year, GM, Ford and Chrysler will pay out $305m in these COLA “bonus” checks… but, in classic UAW style, you can only get one if you no longer work. Yes, you got that right: if you are a salaried or hourly worker currently employed by GM, there will be no COLA bonus this year… or even next year. If, however, you are one of the lucky GM retirees who never had to face the modern challenges of two-tier wages and a near-bankruptcy experience, check your mailbox because there should be a $700 check waiting there to make your Christmas a little brighter. After all, retirees are the future of every company… right? [via Automotive News [sub]]
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Okay....Let me explain. During the last few years the UAW/CAW contracts were negotiated and then, negotiated again. Eech time the contract was opened up,a new package was created. Some items were taken away,some were added ,some stayed the same. Bottom line, the UAW/CAW workers, total wage and benifit package was brought down a significant amount. So today. we are at parity, or real close to the transplants. Was that not the objective? The rank and file voted.....and by a narrow magin it passed. Part of the UAW retiree package. {BTW...the retirees don't vote}....included VEBA. Something that did not go over well with the retirees. The UAW retirees did however keep thier $700 COLA. I believe they also have a frozen pension. For the record... I'm CAW..GM retired. Here in Canada we give up our COLA for a slightly higher pension. We also are going to eat the Canuck version of VEBA. Edward....Its two words..contactual obligations. OKAY...Fire away B&B.....Oh... and could you keep the trolls under the bridge. I find not feeding them works.
Contractual obligations entered into by parties who had no long term responsibility relating to making good on the liabilities created for others are the reason we should have let the auto companies go bankrupt within the parameters of existing laws. Collective bargaining is not something we can sustain for government employees. The unions are a cancer. They killed many of their hosts in private industry and now they're feeding on the body of our nation.
Hmmm...workplace safety regulations - keeping you safe from asbestos, PCBs and other carcinogens. Your employer does that willingly. Collective bargaining got workplace safety passed into law. You ride on the backs of all those workers who fought and died for workers rights. Ungrateful is the only work I can think of at this time that would not get my comments removed. Corporations willingly developed pension plans to keep employees. It was a perk of employment. What makes you think that retirees are not due those pensions? Just because you will never have a pension like that does not give you the right to be so damn bitter when writing about those workers and the pensions that they WORKED for.
My dad who worked 34 years at G.M., and worked with out dusk masks and other safety tools that are now required. This check came in handy, buying him things that I hope you never have to purchase.