The United Autoworkers Union has announced that several modifications will be made to their contract in an effort to stave off collapse in the auto industry. The union will suspend its job bank (which pay workers when their plants are idled) and open negotiation for modification. The union president, Ron Gettelfinger, says the union is not ready to open itself to complete renegotiation but is ?willing to take the extra step here.? Many union members fear making concessions, but fear widespread collapse even more, though one retiree says ?more concessions means more foreclosures.? General Motors and Chrysler have both requested multi-billion dollar loans in the coming months as collapse threatens. The companies are set to go before Congress again later this week.
See "U.A.W. says it would consider modifying contract", Nick Bunkley, The New York Times, December 2, 2008