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Wed July 20, 2011
UAW chief to push for bigger profit-sharing checks
DETROIT (AP) - The head of the United Auto Workers union says if his members agree to profit-sharing instead of pay raises from Detroit's automakers, the companies will have to write bigger checks than they do now.
UAW workers at General Motors got $4,300 profit-sharing checks this year, while Ford paid out $5,000 and Chrysler paid $750.
President Bob King has told The Associated Press that profit-sharing or other flexible methods of compensation will be discussed when the union formally begins contract talks with the Big Three next week.
Yet King, who has preached cooperation with the companies over confrontation, said that while he wants workers to be fairly compensated, he also wants deals that keep down the companies' fixed costs so they are competitive with foreign-based automakers.
GM invests more for Chevy Volt