GM and UAW go back to the table today

[Fleshdancer]

Good luck UAW.

http://www.freep.com/article/20090215/BUSINESS01/90215040/1014/GM+and+UAW+go+back+to+the+table+today

General Motors Corp., facing a Tuesday deadline to present a long-term viability plan, resumed negotiations with the UAW this afternoon after talks broke down Friday, the Free Press has learned.

The Detroit automaker is trying to get concessions from the UAW and debt holders as required under the terms of the $13.4-billion loan package approved by the U.S. Treasury Department in December. The deal calls on GM to get the stakeholders to voluntarily reduce the debt GM owes them. But the talks have been difficult, as the various stakeholders vie for a better deal, which would likely mean less favorable conditions for another party.

“This is probably going to go right down to the wire,” a person briefed on the efforts said. The person did not want to be named because of the sensitive nature of the negotiations.

Talks between GM and the UAW broke down Friday when the UAW walked out, the source said. On Saturday, the union said it was rejecting the proposals from GM and Chrysler LLC, saying they were unfair to workers and favored bondholders.

Officials from the UAW and GM began talking again this afternoon, though it was not clear at what level, the person said.

[Hawkeye-X]

1. UAW should stand firm and tell them - the cuts must come from the management FIRST

before conceding anything to the GM assholes.

Hawkeye-X

[David Dunham]

2. The UAW has to make concessions too or GM will file Chapter 11, busting the UAW and its retirees