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Auto workers, Detroit automakers negotiate new contracts
Talks kicked off this week to renegotiate the expiring contract between the United Auto Workers Union (UAW) and Detroit’s big three automakers, General Motors, Chrysler, Ford. The two sides' want's bascially boil down to this: Workers want to keep their current health and retirement benefits while also getting a bigger share of the companies' new-found profits; automakers want total labor costs, including wages and benefits, to be competitive with foreign automakers in the U.S.
According to the Center for Automotive Research in Ann Arbor, Michigan, here's how the hourly costs compare:
General Motors: $56.
The current contract expires September 14.