• Most Popular
  • Most Shared

GM says early UAW talks have begun, to continue

Sun Jan 11, 2009 2:20pm EST

Stocks

   

DETROIT, Jan 11 (Reuters) - General Motors Corp GM.N began preliminary talks with the United Auto Workers union last week in a bid to win new concessions required under its U.S. government bailout, a senior executive said on Sunday.

Stocks  |  Global Markets

GM's president for North America, Troy Clarke, said discussions would continue with the union this week and had focused first on how union leaders saw talks proceeding.

"We're talking about how they see those negotiations talking place," said Clarke, who was speaking to reporters on the sidelines of the Detroit auto show.

The current terms of GM's $13.4 billion loan package from the U.S. government require it to seek deep givebacks from the UAW that would make its labor costs competitive with the nonunion factories run by the likes of Toyota Motor Corp. (7203.T)

The UAW has objected to those targets as unfair and Democratic leaders in the incoming Congress have urged that they be softened.

But Clarke said GM was preparing to meet the specific targets outlined under the bailout cleared by the outgoing Bush administration.

"It's our intention to meet the specific targets," he said.

(Reporting by Kevin Krolicki; Editing by Bernard Orr)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article