Jul 23, 2007
At Dana Corp., the UAW agreed to so-called union control of all retiree healthcare and all long-term disability. These changes will affect past, present and future retirees. The media say that Dana Corp. is now the example for the whole auto industry.
Dana will contribute only 71% of the liability. That means a 29% cut in money available for retiree healthcare and disability.
What happens to that 29 cents on the dollar? The company keeps it!
It’s a good deal for Dana Corp. but an awful deal for workers.