Catherwood LibraryILR School

General Motors and the United Auto Workers are slated to begin negotiations concerning bridge loans Monday. The government has promised GM a $13.4 billion dollar bridge loan; GM has already received $4 billion of this sum. General Motors CEO Rick Wagoner says that the company obviously has more significant restructuring to do but claims that they can continue to operate without slashing retiree benefits, a possibility brought up several weeks ago during the bailout discussions in the Senate. The bridge loan qualifications stipulate that Wagoner and the UAW must come to an agreement on labor costs before March 31 of this year. The UAW has said they are not willing to reopen negotiations on previous year agreements, but have agreed to make an effort at some concessions if needed.