GM Strikes Deal, Union Ends Strike
Labor & Employment
General Motors workers return to work today after the auto maker agreed to a new labor contract with the United Auto Workers union. The deal ends a two-day strike but questions remain just how much the deal will save GM.
Shares of GM rose $2.76, or 8.0%, to $37.18, after the company agreed to a tentative contract with the UAW. The UAW represents approximately 74,000 GM employees. The contract ends a national strike that began Monday and crippled GM's production.
The deal sets up a health care trust to pay for retiree healthcare benefits. GM will front the money for the trust while the UAW will run it. GM hopes the trust will help it close a $25-per-hour labor gap with foreign auto makers.
"This agreement helps us close the fundamental competitive gaps that exist in our business," said GM Chief Executive Rick Wagoner. "The projected competitive improvements in this agreement will allow us to maintain a strong manufacturing presence in the United States along with significant future investments."
But former Forbes senior editor Jerry Flint says that the health care trust won't reduce any costs. He explains the health care bill remains the same whether the UAW or GM is in charge. "A health care trust, if it happens, may look good today, but one day it will come back to haunt GM," says Flint.
The deal must now be approved by the rank-and-file union membership. The Securities and Exchange Commission must also review the contract.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.