UAW Members Ratify GM Agreement
Members of the UAW overwhelmingly ratified an agreement with General Motors (GM) Corp. UAW President Ron Gettelfinger told a Detroit press conference today that 74 percent of GM’s U.S. production and skilled-trade workers voted in favor of the deal.
Under the agreement, the union-run retiree health care trust will gain 17.5 percent ownership of a post-bankruptcy GM, with an option to buy another 2.5 percent.
“UAW members have once again stepped up to make necessary and painful sacrifices to preserve U.S. manufacturing jobs,” Gettelfinger said.
This settlement agreement will give GM a chance to survive the worldwide collapse of industry sales and return as a viable company once the economy recovers and consumers begin purchasing vehicles again.
