Automotive News reports that the UAW is seeking a seat on the board of General Motors and an equity stake in the company in exchange for wage and benefit concessions they are willing to make in order to help the Big Three automakers survive the current financial crisis:
The UAW is seeking a stake in General Motors and a board seat as the union offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.
Marc McQuillen, president of UAW Local 2404 in Charlotte, N.C., told members in a letter posted on the local’s Web site that the union is willing to reopen a health care agreement and give up the controversial Jobs Bank if it will help GM…
The UAW will also offer another round of buyouts in 2009 if government bailout funds are provided to GM and allowed to be used for that purpose, McQuillen said.
“In return for these actions, the UAW seeks an equity stake in the company most likely in the form of a board seat,” McQuillen said.
This conflicts with statements made by UAW President Ron Gettelfinger last week indicating that the union was offering those concessions without strings attached or any quid pro quo.