Rattling The Sabre: UAW Builds Up $874 Million Strike Fund

The United Auto Workers has amassed a war chest worth nearly $900 million and is keeping a grip on spending as the union and Detroit automakers brace for what promises to be some of the toughest contract talks ever. The UAW's strike fund had a near-record balance of $874 million at the end of November. Union leaders disclosed the figure Friday during an online question-and-answer session with members. "We are proud of the fiscal health of the fund and believe employers appreciate the significance of our strike fund reserves," UAW President Ron Gettelfinger and Secretary-Treasurer Elizabeth Bunn said in a joint posting during the chat.

They also said the UAW will not spend any of the $60 million it set aside for organizing during last year's constitutional convention until new contracts have been signed with the automakers.


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TruenoAE86 - 1/23/2007 12:31:56 AM

+2 Boost

I hate to say this.... but the UAW did play quite a big role in the Big3's downfall....

ReardenMetal - 1/23/2007 3:21:54 PM

+1 Boost

Anytime labor (i.e., protected unions) can artificially prop up (i.e., force) their commanded price via "negotiations", you will end up with sub-standard labor quality and productivity at a premium price. Witness the US Auto dilemma. Yet, most of you fools, including 001, still insist on being protectionist "liberals."

Sigh...