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Progress reported in GM talks with UAW
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General Motors Corp. has reached a milestone in the creation of a new agreement on healthcare for the U.S. automaker’s union retirees.
The general framework finalized in Detroit on Friday is considered a major step toward a new contract between GM and the United Auto Workers. Negotiations continued Saturday.
The Detroit Free Press said the talks on the voluntary employee beneficiary association (VEBA) moved forward after what appeared to be a softening of the UAW position and its desire to avoid a strike.
Details of the framework were not immediately known. General Motors is seeking to free itself from the financial burden of the $50 billion in obligations for retiree insurance. The Free Press said GM wants to hand the program off to an independent trustee and pay no more than 65 percent of the current obligation. // Copyright 2007 by United Press International |
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