| − | In 2007 the UAW agreed to new contracts with the Big Three that created a two-tier wage rate. New workers beginning in 2010 will get much lower salaries than old workers. Average annual wages for production workers at the Big Three were $67,480 in 2007, and $81,940 for skilled workers, which are much higher than wages paid to non-union workers at rival firms in the South, such as Toyota and Honda. The UAW joined with the Big Three in November 2008 to plead for a "[[bailout]]" for the industry, warning that GM is on the verge of bankruptcy. Republicans, long the political enemy of the UAW, blocked the bailout, but President [[George W. Bush]] authorized loanss from the Treasury. In 2009 General Motors and Chrysler went through a fast-track bankruptcy, sweetened by tens of billions in federal aid. The aid was used in large part to fund the pensions and medical care coverage of retired UAW workers. | + | In 2007 the UAW agreed to new contracts with the Big Three that created a two-tier wage rate. New workers beginning in 2010 will get much lower salaries than old workers. Average annual wages for production workers at the Big Three were $67,480 in 2007, and $81,940 for skilled workers, which are much higher than wages paid to non-union workers at rival firms in the South, such as Toyota and Honda. The UAW joined with the Big Three in November 2008 to plead for a "[[bailout]]" for the industry, warning that GM is on the verge of bankruptcy. Republicans, long the political enemy of the UAW, blocked the bailout, but President [[George W. Bush]] authorized loans from the Treasury. In 2009 General Motors and Chrysler went through a fast-track bankruptcy, sweetened by tens of billions in federal aid. The aid was used in large part to fund the pensions and medical care coverage of retired UAW workers. |