While the Union of Auto Workers (UAW) and the Detroit Three continue their discussions past the September 14th deadline, here's a look back of the last few months via the New York Times.
The issues continue to be healthcare and retirees' benefits, and the solution has been settling on some kind of trust system managed by the UAW and financed by the auto makers.
As union leaders and members weigh the decision, they know that if they turn down the trust idea, then the automakers will push for concessions on such things as wages, benefits, and work rules. That's only fair. The automakers have to come up with ways to save cash or they might be facing bankruptcy or worse. Obviously, seeing one or more of the Detroit Three fall into bankruptcy or simply die as a company is not a good alternative for either side.
But theire are plenty of union members who don't like the trust idea. The trust is being referred to as V.E.B.A.: "Vandalizing Employee Benefits Again."
So the rank and file can only wait like the rest of us and see what the results will be. Union members are wearing t-shirts that say, "Will Strike if provided", but most pundits think it won't get that far.
The union isn't going to make any decisions like this without expert counseling. It is getting advice from financial consultant Lazard which the union has used as a source for consultation on past healthcare matters.
Still, the future is unknown. Worse is that most appear out of the loop. They simply don't know what's going on in the talks. And when there is no news, there is sure to be rumors. One rumor making the rounds is that there will be a wage cut of 20 to 30 percent for union members who now make about $29 an hour on average. So many workers are pinching pennies and hoping, no -- praying -- things will turn out alright (whatever that may be).
Our take? So, as they say, there is a "news blackout." We guess we all have to wait until each side finally comes up with an agreement and they hold that joint news conference to announce the results.