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The UAW contract is not directly linked to GM's financials unless there is a provision that specifically states this (usually not) however if a company's financial situation is in dire straits, a company will often ask to revisit the contract in an attempt to save money and prevent or postpone a looming layoff that is being precipitated by financial woes. Often times, unions are not likely to re-negotiate which ends up hurting everyone--not just the company.
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Are Unions ie UAW a concept of socialism?
The UAW is a veil for socialism. Unions had their place, but they're not needed anymore. The UAW has destroyed the big three. I say we let them fall. People aren't going to quit buying vehicles when GM is gone. The market will take care of itself. Other manufacturers will step up production or a new company may rise from the ashes of GM. Hopefully, a company not bound by the UAW.
Who won inaugural Bank of America 500?
The very first Bank of America 500 (UAW-GM Quality 400) race was called the National 400 and was held in 1960. Driver Speedy Thompson was the victor for that inaugural drive. In 1966 the race added 100 miles to transform from the National (Bank of America/UAW-GM Quality) 400 to the National (Bank of American/UAW-GM Quality) 500. LeeRoy Yarborough was the victor.
What did the retiree get in the new gm contract?
bonus on gm contract
What is the general strike?
The General Motor also known as GM, is a United States-based automaker with its headquarters in Detroit, Michigan.On September 24, 2007, GM workers represented by the United Auto Workers union went on the first nationwide strike against the company since 1970. The ripple effect of the strike reached into Canada the following day as two car assembly plants and a transmission facility were forced to close. Overnight a tentative agreement was reached, however, and UAW officials declared the end of the strike in a news conference at 4 a.m. on September 26. By the following day, all GM workers in both countries were back to work.A new labor contract was ratified by UAW members exactly one week after the tentative agreement was reached, passing by a majority 62 percent vote. In the contract are several product and employment guarantees stretching well into the next decade. One of GM's key future products, the Chevy Volt, was promised to the GM Poletown/Detroit-Hamtramck plant in 2010. Also included is a VEBA (Voluntary Employee Beneficiary Association) which will transfer retiree health care obligations to the UAW by 2010. This eliminates more than $50 billion from GM's healthcare tab. It will be funded by $30 billion in cash and $1.4 billion in GM stock paid to the UAW over the next four years of the contract. It also eliminates 70 percent of the labor cost gap with GM's Japanese rivals.A strike at American Axle and Manufacturing Holdings Inc. will result in lost production of an additional 230,000 vehicles in the second quarter, with an estimated $1.8 billion impact on earnings before tax, and a total strike cost of $2.81 billion.Together with the UAW, GM created a joint venture dedicated to the quality of life needs of employees in 1985. The UAW-GM Center for human resources in Detroit is dedicated to providing GM salaried employees and GM UAW members programs and services related to medical care, diversity issues, education, training and tuition assistance, as well as programs related to work and family concerns, in addition to the traditional union-employer health and safety partnership.
What type of power does the uaw hold over gm how has this power influenced its ability so negotiate with GM?
it's so much the law as it is the government.... basically the government bailed GM out so they can pretty much do what they like with the company.
What is the average hourly compensation for a General Motors factory worker?
According to several sources (NYT, Bloomberg, etc.), the 2011 UAW-GM contract calls for a $14-16/hour wage for newly hired workers. Incumbent workers make twice that rate.
What is a general strike?
The General Motor also known as GM, is a United States-based automaker with its headquarters in Detroit, Michigan.On September 24, 2007, GM workers represented by the United Auto Workers union went on the first nationwide strike against the company since 1970. The ripple effect of the strike reached into Canada the following day as two car assembly plants and a transmission facility were forced to close. Overnight a tentative agreement was reached, however, and UAW officials declared the end of the strike in a news conference at 4 a.m. on September 26. By the following day, all GM workers in both countries were back to work.A new labor contract was ratified by UAW members exactly one week after the tentative agreement was reached, passing by a majority 62 percent vote. In the contract are several product and employment guarantees stretching well into the next decade. One of GM's key future products, the Chevy Volt, was promised to the GM Poletown/Detroit-Hamtramck plant in 2010. Also included is a VEBA (Voluntary Employee Beneficiary Association) which will transfer retiree health care obligations to the UAW by 2010. This eliminates more than $50 billion from GM's healthcare tab. It will be funded by $30 billion in cash and $1.4 billion in GM stock paid to the UAW over the next four years of the contract. It also eliminates 70 percent of the labor cost gap with GM's Japanese rivals.A strike at American Axle and Manufacturing Holdings Inc. will result in lost production of an additional 230,000 vehicles in the second quarter, with an estimated $1.8 billion impact on earnings before tax, and a total strike cost of $2.81 billion.Together with the UAW, GM created a joint venture dedicated to the quality of life needs of employees in 1985. The UAW-GM Center for human resources in Detroit is dedicated to providing GM salaried employees and GM UAW members programs and services related to medical care, diversity issues, education, training and tuition assistance, as well as programs related to work and family concerns, in addition to the traditional union-employer health and safety partnership.
Did the GM recovered for economic crisis?
GM's stock was largely taken over by the the federal government and the UAW and is worth is much less then what was put into it with the bail out. Plus GM's overall market share continues to grow smaller. So no, the bailout has not proven to have helped.
How would you characterize the type of conflict that exists between GM and the UAW using the various conflict-handling interventions?
Was it for your Organizational Behavior class ? Can I get your e-mail please
How did the sit-down strike by the united automobile workers union produce change at General motors?
A UAW members refused to leave a GM plant until the company agreed to recongnize the union
What happens to your GM stocks if GM filed for bancruptcy?
Your common stock becomes worthless. The value of your shares is zero dollars.
What is Jamie McMurray best known for?
James Christopher "Jamie" McMurray is known for being a great NASCAR driver. Jamie McMurray won the UAW-GM Quality 500 Cup in the year of 2002. Jamie was born on June 3, 1976.
