Sure! And they're getting a hand from GM itself. As part of the last contract, the UAW is taking over GM's health insurance fund, with GM paying its share with GM stock. So the UAW is already taking a big share of GM. And if GM did have to declare bankruptcy, I imagine the UAW, its members, and the combined power of the AFL-CIO could take a controlling stake in the company.
This eliminates the problem of excessive management salaries, and creates a powerful disincentive for outsourcing.
With money loaned to UAW by the Federal Reserve?
Sure! And they're getting a hand from GM itself. As part of the last contract, the UAW is taking over GM's health insurance fund, with GM paying its share with GM stock. So the UAW is already taking a big share of GM. And if GM did have to declare bankruptcy, I imagine the UAW, its members, and the combined power of the AFL-CIO could take a controlling stake in the company.
This eliminates the problem of excessive management salaries, and creates a powerful disincentive for outsourcing.