GM, UAW Ponder New Offers to End Strike

General Motors Co. and the United Auto Workers union are trading new proposals—and barbs—-in an effort to end a union strike that began on Sept. 16.

GM says its latest offer boosts the size of its pledge to invest in U.S. factories 10% to $7.7 billion. The company also would spend as much as $2.3 billion in joint ventures, whose deals would be addressed in separate contracts with the union as they occur.

The company says its proposal also boost profit-sharing, increase wage and one-time bonus payments, freeze healthcare costs to workers, give temporary workers a path to fulltime employment and pay temps a bonus to ratify the deal.

Today GM spelled out the details of its latest offer directly to 48,000 affected employees through a blog post. The move, an indication of the company’s frustration about the pace of formal negotiations, has angered UAW’s negotiating team.

Each side blames the other for dragging out the bargaining process. “The company’s strategy of releasing half-truths does nothing to reach a final settlement,” fumes Terry Dittes, the UAW’s top GM negotiator. Replies GM, “The goal of our communication has been to inform, not incite.”

The union said yesterday it was finalizing its position. The strike to date has cost GM roughly $1 billion, according to analysts.