General Motors (GM) and the UAW set up strike showdown today

General Motors Corp. (NYSE: GM) has the UAW as a thorn in its side once again, as UAW President Ron Gettelfinger has picked a fight with GM about proposed funding for the automaker's retiree health fund. Is this the same old song and dance we've seen before?

UAW officials labeled GM as a "strike target" less than 24 hours after disputing procedures for funding GM's retiree health care fund, and the contract between the union and Detroit's GM ends at midnight tonight. So, there are about 14+ hours left for the two boys in the sandbox to put aside differences and come to a compromise. Place your bets now.

With the big three (or big two, if you're talking public companies) having a combined $114 billion in health care obligations, the fight between auto unions and large domestic automakers will see no end, if ever. But, in recent contract talks, the spirit of the meetings was described as "cooperative talks." Well, until the last minute (like always). Tempers are flaring most likely, and egos are dropping bombs all over the meeting room floor (maybe even f-bombs, heh).

But with the three largest domestic automakers losing a combined $15 billion in 2006, the UAW relented in its fight to get them agreeing on paying for all health care costs for all employees, active and retired. Looks like that "you all pay for everything" stance is back in some form. GM does not need employees walking out to picket at this point in 2007, but that is possibly what could happen over the weekend based on what happens in Detroit today.
Get the latest on cars and trucks
from GM and all brands at AOL Autos.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+6.5112,890.46
NASDAQ+11.372,927.23
S&P 500+1.991,351.95

Last updated: February 10, 2012: 04:24 AM

Hot Stocks

General Electric

19.13-0.11(-0.57)

Alcoa

10.64-0.03(-0.28)

Apple Inc

493.17+16.49(+3.46)

Google Inc 'A'

611.46+1.61(+0.26)

Bank of America

8.18+0.05(+0.62)

Wal-Mart Stores

61.96+0.34(+0.55)

Exxon Mobil Corp

84.88-0.44(-0.52)

Ford

12.69-0.15(-1.17)

Citigroup

33.66-0.57(-1.67)

IBM

193.13+0.18(+0.09)

Yahoo

16.00+0.22(+1.39)

Starbucks

49.20+0.48(+0.99)

Microsoft

30.77+0.11(+0.36)

Home Depot

45.27+0.10(+0.22)

Learn More About GM Cars

General Motors Brands:
Find Your Next Car

AOL Autos New Cars and Used Cars

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

    BioHealth Investor Headlines

    WalletPop Headlines

    DailyFinance BlackBerry App

    My Portfolios

    Track your stocks here!

    Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

    BloggingStocks Partners

    More from AOL Money & Finance

    BioHealth Investor Headlines

    Page Loaded in 1328865888626 ms.