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General Motors’ management saved American economy
29 September 2007General Motors Corp management, which managed to stop strike at enterprises, saved American economy from crash, comparable to hypnotherapy crediting crisis.
Moreover, experts mark, that the agreement between auto concern and trade union United Auto Workers (UAW), owing to which employees of a motorcar giant have returned to their workplaces, in the further becomes effective model of such disputes settlement. In fact negotiations between UAW c Ford Motor Co and Chrysler LLC are also expected.
Also it is necessary to add, that in terms of rigid competition any “free” money for motor-car manufacturers is a magnificent opportunity to start manufacture of new models of cars, and it is also chance to support this or that branch of already existing manufacture. That is why the transaction between UAW and GM, in result of which the management managed to reduce huge expenses of concern for health services of workers, has represented good chance for Ford and Chrysler to achieve similar motions from trade union and, as a result, to invest favorably liberated millions.
According to the terms of transaction, in result of reached arrangements, the independent fund operated by trade union on medical insurance payment, which the employer should pay, will be created.
But, besides it, importance of the transaction is caused also by other reasons. It is the first case in history when the auto concern managed to achieve really something significant as a result of negotiations with trade union. This agreement will allow concern to avoid high expenses for guarantees on health services and it will cut almost by half a difference in charges with the Japanese competitors (such as Toyota Motor Corp.), which is now not in GM’s favor.
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