| United Auto Workers (UAW) President Ron | | | | Gettelfinger said in March that the UAW had |
| Gettelfinger said last Monday that the union must | | | | finished a review of Chrysler's finances to |
| find a way to give Chrysler health care | | | | determine if the concessions are warranted. But |
| concessions, similar to those given to General | | | | he would not state the outcome of the review. |
| Motors Corp. and Ford Motor Co. in 2005. | | | | Gettelfinger's comments on Monday acknowledge |
| "We've been talking to Chrysler quite frequently - | | | | that Chrysler has a problem that needs to be |
| we do need to find a way to fix the problem | | | | addressed. UAW spokesman Roger Kerson and |
| there now that Chrysler is in a downward mode," | | | | Chrysler spokeswoman Michele Tinson would not |
| Gettelfinger said in an interview on WJR-AM in | | | | comment beyond Gettelfinger's remarks. |
| Detroit. Like the K&N filters, the concessions have | | | | Both the UAW and Chrysler have been |
| to sift partiality between automakers and their | | | | negotiating on the health care concessions in |
| workers. | | | | advance of national contract talks with the Detroit |
| A couple of years ago, the UAW gave health | | | | Big Three that are scheduled to formally start in |
| care concessions to Ford and GM that saved the | | | | July. But so far, no health care agreement has |
| companies billions of dollars. Nonetheless, the union | | | | been agreed upon. |
| declined to grant the same deal to Chrysler | | | | Under UAW's 2005 agreement with GM, hourly |
| because of its stable financial condition at the time. | | | | workers would contribute $1 per hour in future |
| Collectively, the U.S.-based automakers have over | | | | pay increases to a new fund to help pay for |
| $100 billion in long-term retiree health care costs | | | | retirees' health coverage. Single retirees would pay |
| that analysts say must be slashed. | | | | up to $370 a year in deductibles and fees for |
| Chrysler's German parent, DaimlerChrysler AG, | | | | their coverage. And most retirees and all active |
| earlier announced that it would sell a controlling | | | | hourly workers would contribute higher |
| stake of its American operations to private equity | | | | co-payments for their prescription drugs. |
| firm Cerberus Capital Management LP. Analysts in | | | | Under the deal with Ford, retired autoworkers |
| the industry said that Cerberus likely will demand | | | | would start paying monthly contributions, yearly |
| deeper concessions from the union than Daimler | | | | deductibles and co-payments for some medical |
| would have. Cerberus has said that it will leave the | | | | services up to a maximum of $370 a year for |
| negotiations to Chrysler officials, led by Chrysler | | | | individuals and $752 for a family. Hourly workers |
| Group President Tom LaSorda. "I'm pleased to | | | | have no deductibles or monthly contributions, but |
| say discussions I've had with (Cerberus)... have | | | | they must contribute part of their future wage |
| been very professional," Gettelfinger said. "They | | | | raises to a trust for future health care expenses. |
| have a lot of confidence in Tom LaSorda.... They | | | | Analysts noted that while Chrysler was profitable, |
| have confidence in the process that has been | | | | it was unlikely that any health care concession |
| established." | | | | agreement would be approved by UAW |
| In 2005, the Chrysler made $1.8 billion, but the | | | | members. But since the situation has changed, a |
| company was badly hurt by the rising gasoline | | | | vote may come out differently. |
| prices and the shift of the market to small | | | | Cerberus has said that it will leave the negotiations |
| fuel-efficient cars. To note, gas prices rose to | | | | to Chrysler officials, led by Chrysler Group |
| around $3 per gallon. In 2006, the Auburn | | | | President Tom LaSorda. This is done despite the |
| Hills-based automaker said it lost $618 million and | | | | fact that Cerberus already has executives inside |
| $1.98 billion before interest and taxes in the first | | | | Chrysler's headquarters. |
| quarter of this year. | | | | |