GM: Is This The End of The UAW?
Most significantly, as stockholders, unions will have to start thinking like owners. The theory of Detroit was that the United Auto Workers union didn't care about returns Chrysler, Ford, or GM could generate to the stockholder because it was simply concerned with maximizing wages and benefits. But the joke was ultimately on the unions, since high labor costs were one of the many factors that caused the companies to fail—and hence to renege on the ... Full Story »
Posted by Derek Hawkins
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