The president of the United Auto Workers, Bob King, says that they will try to roll back some of the concessions that the UAW gave to Ford, GM and Chrysler, both in 2007 and during the recession. The UAW agreed to allow the companies to hire new workers at around half the pay of veteran workers, as well as other concessions. Both GM and Ford have posted profits, and Chrysler says that it would be if it did not have to pay interest on its bailout loans. King said that the union needs to work with the companies on productivity, costs and quality in order to preserve their jobs for the future. A spokesman for GM cautioned against the UAW expecting a full rollback, saying that above all the company needs to be competitive. GM has filed papers that would allow the government to begin selling off its majority share of the company.