The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (168666)	12/3/2008 1:27:02 PM
From: MulhollandDrive	Read Replies (1) of 306849

Ha. FINALLY.... it took bring detroit to the absolute brink for this: news.yahoo.com UAW to suspend jobs bank, rework health-care trust 46 mins ago DETROIT (Reuters) United Auto Workers President Ron Gettelfinger said on Wednesday the union would surrender job security protections and rework a historic retiree health- care trust in concessions intended to help U.S. automakers clinch government aid to survive a sales downturn. Gettelfinger also said the UAW would consider other changes to contracts reached in 2007 with General Motors Corp (GM.N), Chrysler (CBS.UL) and Ford Motor Co (F.N). Changes would be submitted to union members for ratification. All three Detroit-based automakers said Tuesday that they needed new concessions from the union in restructuring plans submitted to Congress seeking a combined $34 billion of aid. Gettelfinger told reporters in a news conference that the steps were the "responsible thing to do" and the union was currently engaged in discussions with the automakers to revise the contracts. (Reporting by Poornima Gupta and Soyoung Kim, writing by David Bailey, Editing by Maureen Bavdek)

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