GM, UAW near deal on health care: report

[Omaha Steve]

Wednesday October 5, 10:35 AM EDT

DETROIT (Reuters) - General Motors Corp. (GM) and the United Auto Workers union appear to be nearing a deal to cut the automaker's annual health-care costs, The Detroit News reported on Wednesday.

The newspaper's report cited people familiar with the talks.

The deal under discussion likely would shave at least $1 billion from GM's annual health-care bill, meaning the changes would impact active UAW members as well retirees nationwide by increasing co-pays for prescription drugs and perhaps instituting cost-sharing of monthly premiums, the newspaper said.

Full story here: http://money.excite.com/ht/nw/bus/20051005/hle_bus-mor552460.html

[OneBlueSky]

1. yet another screwing of the American worker . . .

I'm sure the union is going along because they were presented with some pretty devastating alternatives by the company . . .

[stevedeshazer]

2. I take this to mean that the union members are being forced to

pick up more of the costs of health care?

Another dump on working Americans in order to protect precious profits for those at the top.

[FranzFerdinand]

3. what profits?

hmpf.

[stevedeshazer]

4. I guess Rick Wagoner only made $10 million in 2004.

Down 22% from the previous year.

And GM's earnings for 2004 were only $2.8 billion.

Hmpf yourself.

[Name removed]

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[Bridget Burke]

6. GM is not making any profits because the executives made stupid decisions.

"Gosh, let's make bigger & fatter SUV's!"

The bosses are fixed for life & the workers might end up flipping burgers anyway.

[Neshanic]

7. GM will be back soon for more cuts. It's just a matter of time and China.