Right after the UAW vetoed a compromise, bankruptcy-lite, Detroit-little-three rescue plan put together by Tennessee Republican Bob Corker, UAW president Ron Gettelfinger played the blame game by blasting Corker and the Republican party for “singling out” union workers to shoulder the burden of reviving the U.S. car business.
In truth, the UAW is to blame. [snip]
All Corker asked was a 2009 date for union pay restructuring. Sen. Corker never specified his date. He asked the UAW to name its date for a new pay package. But it had to be in 2009. In return, union members would get a lot of stock in this deal -- up to $10.5 billion of new equity as GM’s heavy debt burden would be converted into common shares.
But the UAW refused to make concessions. Instead, it insisted it would only renegotiate its current contract when it ends in 2011. That was the sticking point that killed the deal.
You have to ask this question: If the Detroit carmakers are in dire straits, going broke in two weeks, right now in late 2008, how can the UAW wait until 2011 to make its concessions?
[A: scream that the world will end, rely on the old media to dupe TV watchers into believing that fallacy, and wait for Bush to cave.
Worked like a charm.]
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