RSS
Home
Auto workers praise bridge loans
Print
Email
RSS
Subscribe
United Auto Workers President Ron Gettelfinger praised the bridge loan approved by the Bush Administration today while cautioning that workers need assurances that the burden will be shared equally by all stakeholders. The bridge loan thwarts for now the call by some legislators for American auto manufacturers to seek bankruptcy protection. Since the Reagan Administration bankruptcy has been a common corporate tactic to void union contracts and bust unions. Neither management or labor wanted to see the spirit of partnership broken by such a process instead seeking a small portion of the monies apportioned for the financial sector.
"We're pleased that the Bush administration has acted today to provide urgently needed emergency bridge loans to America’s auto companies and to pursue a process for restructuring outside of bankruptcy," said UAW President Ron Gettelfinger. "This will keep the doors of America's factories open, keep Americans working and prevent the devastating economic consequences for millions of Americans and thousands of businesses that would have resulted from a liquidation of operations by one or more auto companies."
The UAW is reviewing the documents and anticipate that under the incoming administration some conditions placed on union workers who have already made significant sacrifices will be revisited. It has become conventional wisdom that auto workers employed by American auto manufacturers are uncompetitive with their foreign counterparts. In fact, foreign auto makers are given large subsidies by states with poor worker protections and the starting pay for all auto workers in the Unites States is roughly equivalent.
The Bush administration initially opposed using funds from the financial industry bailout to support the American auto industry but was left with little choice after southern Senators opposed a separate package in Congress. The Senators, most notably Bob Corker of Tennessee were perceived as beholden to foreign manufacturers at the expense of the American auto industry. This bridge loan carries conditions on auto workers not placed on workers in the financial sector and is sure to be subject of debate when the new Congress convenes.
More About:
Auto Bridge Loan
Related Articles:
Comments
When most Americans see the U.S. stars and stripes they think of honor, duty and country. Corporate leaders see dollar signs. Since 9/11 corporations …
How do you deliver heartbreaking, life shattering and soul numbing news about the loss of a loved one? Well if you serve in the U.S. military you do …
- American Federation of Labor-Congress of Industrial Organizations-AFL-CIO
- Change to Win
- American Federation of Government Employees-AFGE
- American Federation of State, County and Municipal Employees-AFSCME
- American Federation of Teachers-AFT
- Communication Workers of America-CWA
- International Association of Firefighters-IAFF
- International Association of Machinists and Aerospace Workers-IAM
- International Brotherhood of Electrical Workers-IBEW
- International Brotherhood of Teamsters-IBT
- Laborer'' International Union of North America-LIUNA
- Service Employees International Union-SEIU
- Transport Workers Union of America-TWU
- United Automobile, Aerospace, & Agricultural Implement Workers of America International Union-UAW
- United Food and Commercial Workers International Union-UFCW
- United Mineworkers of America-UMWA
- UNITE HERE
- Blueman Productions, IATSE
- EchoStar Dish Network, CWA
- Pacific Beach Hotel, Wakiki Hawaii, ILWU
- R. J.Reynolds Tobacco Co., BCGTM
- Vincent Bach Division, Conn-Selmer, Inc.,UAW
- For more information
- A. Zahner Company
- Alabama Power
- Delta Construction Corporation
- Delta Construction Corporation
- DMAX-Ltd.
- Gamesa Technology Corporation, Inc.
- Justice Clothing
- Maimonides Medical Center
- State of Kansas
- Team Industries, Inc.
- Washington National Opera
- For more information
