UAW members approve General Motors concessions

[Old Coot]

Source: Associated Press

DETROIT – The United Auto Workers union has ratified a package of concessions designed to reduce General Motors Corp.'s labor costs, completing a key piece of the automaker's massive restructuring effort.

UAW President Ron Gettelfinger said at a news conference Friday that 74 percent of GM's 54,000 U.S. production and skilled-trade workers voted in favor of the deal.

The vote comes before an expected Chapter 11 bankruptcy protection filing by GM on Monday. Bankruptcy experts say having the labor agreement in place will help move the process through court more quickly.

"We accept what it is and did the best we could," Gettelfinger said. "We've given a lifeline to GM until they can rebound."

Read more: http://news.yahoo.com/s/ap/20090529/ap_on_bi_ge/us_gm_uaw