UAW seeking GM board seat -union official

Source: Reuters

DETROIT (Reuters) - The United Auto Workers union is seeking a stake in General Motors Corp and a board seat as it offers concessions intended to allow the automaker to slash costs and clinch federal aid, a union official said.

In a posting on the UAW Local 2404 website, local president Marc McQuillen said union leadership had said rank-and-file workers would have to ratify new concessionary contract provisions for GM by March 31.

The UAW will also offer another round of buyouts in 2009 if government bailout funds are provided to GM and allowed to be used for that purpose, McQuillen said.

"In return for these actions, the UAW seeks an equity stake in the company most likely in the form of a board seat," McQuillen said.


Read more: http://www.reuters.com/article/americasDealsNews/idUSTRE4B75Q720081208

Now we're talking.

If unions REALLY have a shot at being on the inside, calling the shots, then maybe SOMETHING can get done to consider the plight of the workers.

I heartily approve.

That would be enough to put some checks on the most egregious actions of the board, the kind of thing they only do in secret because they're ashamed of what they're doing, or afraid they'll go to jail if it comes to light. If there had been a union rep on the board of Enron, someone might have said, "Wait! Isn't that illegal? Won't that cost workers their pensions?"

I like the sound of that.

should have been done long ago

....if the workers are putting up equity in the form of concessions, then they should have a seat at the table....

... let's make it a fair exchange.

and it's about time they start demanding something in return.

IMO they should try to buy the company outright.

Thanks Steve.....I hope this idea goes further to all unions.

Yes, should've been done long ago. A no-brainer.

Let the workers control the Board and I think we will see the fixes that need to be made enacted.

I'll bet that would keep some Americans employed.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3637481

I love it!!!!!!!