GM, UAW To Talk Concessions Again
(DETROIT, MI) - Even through their current labor contract is just over a year old, General Motors and the United Auto Workers are expected to return to the negotiating table to discuss further concessions.
Robert Snell, a reporter with The Detroit News is reporting that GM, the UAW, as well as bond holders and dealer representatives will all get to the table to talk turnaround turkey.
As a result of the bridge loans approved by President Bush at the end of last year, right before Christmas, GM has until March to tell Washington what it plans to do to return to viability and profitability.
Right now, it is believed that GM plans to close 27% of their 6,400 nationwide dealerships, and possibly close or sell Saturn, sell Hummer and Saab, and shrink Pontiac.
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