GM, two crucial agreements

In less than 24 hours, the American automaker General Motors, has reached an agreement in principle, first with the union of American auto workers and today with the Canadian Auto Workers (CAW)

In both cases, it is rather discreet about the details of the agreements, which anyway project reductions in costs of labor d'oeuvres, astronomical costs that it cost a benefits of its employees, has both level of health systems on both sides of the border, as well as at different regimes of pension granted to its employees in recent years.

Obviously, these different agreements will be ratified by union members over the next few days, since GM has until June 1 to submit a plan solvent and realistic survival, American government, if it still wants to receive the using the said Government. It goes without saying that the decisions to be taken by the Canadian government, will largely mirror those taken by our neighbor.

GM could avoid bankruptcy

In all likelihood, and in the light of recent developments have occurred in recent weeks, including agreements in principle obtained with the unions, while suggesting that GM could avoid having to protect its creditors.

This would allow him to leave with a more solid foundation, but will have been more painful to realize and at all levels. The two governments, both American Canadian, greatly interest to see what automotive manufacturer almost reborn from its ashes, so that thousands of workers in this industry can continue to earn an honest living and thereby ensure a degree of continuity has its two economies, close-knit ...