Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWireDETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers.
The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker.
Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. "The nostalgia for the good old days of the defined-benefit plans is overstated," Mitchell said."Typically you had to work at that company your entire career. That may have characterized the labor market of 50 years ago ... it doesn’t really characterize the labor market today."
Separately, the UAW and companies have not agreed on the complex issues raised by new electric-vehicle battery plants owned by joint ventures.
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