This, given the airline bankruptcy cases, certainly seems like good news:
General Motors Corp. and the United Auto Workers have reached an agreement that will help the automaker lower its health care costs, GM’s chairman and CEO said Monday.
The announcement came as the world’s biggest automaker said it lost $1.6 billion in the third quarter and said it was considering selling a stake in its financial arm in a bid to restore its investment grade credit rating.
The tentative agreement on health care is projected to reduce GM’s retiree health-care liabilities by about 25 percent, or $15 billion, and cut GM’s annual employee health-care expense by about $3 billion, CEO and Chairman Rick Wagoner said. Cash savings are estimated to be about $1 billion a year.
“These negotiations were done in a positive, cooperative, problem-solving spirit,” Wagoner told employees at GM headquarters in Detroit. “While it may have taken some time to reach this cooperative solution, I think it was time well-spent.”
Although, if the Union is anything like the UMW in WV, they will vote against it and then wonder why they have no jobs teny reas from now.