We posted earlier about the fact that many hourly employees at General Motors could enjoy five-figure bonuses this year, thanks in part to tweaks in the UAW agreement and a banner year for profits. Now, word has leaked about bonuses for the salaried. They may be down from last year – but many remain far higher than the ones paid to hourly employees.
As predicted, the hand-wringing over Sergio Marchionne’s letter to Bob King was not enough to derail the basic motivations for the UAW to reach new deals with the automakers. Last night the union agreed to a tentative agreement with GM, its pattern target for this, the first round of negotiations since the bailout. That agreement must be approved by the union rank-and-file, but if ratified, Reuters reports that it includes
- The re-opening of the idled Spring Hill, TN plant to build an unspecified “new product”
- $5,000 signing bonuses (at a cost to GM of $245m)
- According to the NYT, “significant improvements to health care benefits” are also part of the deal
- According to AN [sub], the union “successfully fought back efforts to make major changes — and weaken — our retirement plan.”
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- Kcflyer on one hand it at least wont have dirty intake valves like Honda's entire lineup of direct injection ice vehicles. on the other hand a CRV offers more room, more range, faster fueling and lower price, hmm
- Tassos BTW I thought this silly thing was always called the "Wienermobile".
- Tassos I have a first cousin with same first and last name as my own, 17 years my junior even tho he is the son of my father's older brother, who has a summer home in the same country I do, and has bought a local A3 5-door hatch kinds thing, quite old by now.Last year he told me the thing broke down and he had to do major major repairs, replace the whole engine and other stuff, and had to rent a car for two weeks in a touristy location, and amazingly he paid more for the rental ( Euro1,500, or $1,650-$1,700) than for all the repairs, which of course were not done at the dealer (I doubt there was a dealer there anyway)
- Tassos VW's EV program losses have already been horrific, and with (guess, Caveman!) the Berlin-Brandenburg Gigafactory growing by leaps and bounds, the future was already quite grim for VW and the VW Group.THis shutdown will not be so temporary.The German Government may have to reach in its deep pockets, no matter how much it hates to spend $, and bail it out."too big to fail"?
- Billccm I had a 1980 TC3 Horizon and that car was as reliable as the sun. Underappreciated for sure.