Details of UAW/GM agreement emerge

As part of the four-year contract between the United Auto Workers union and General Motors, the automaker will transfer an estimated $46.7 billion in retiree...

As part of the four-year contract between the United Auto Workers union and General Motors, the automaker will transfer an estimated $46.7 billion in retiree health care liability to the union, the AP reports.

The company said the new deal leaves it with about $17.6 billion in retiree health care for salaried employees and other obligations. This was the first time GM has detailed its savings from the agreement. "The 2007 national negotiations were in many ways the most complex and comprehensive that we've been engaged in," Rick Wagoner, GM chief executive and chairman, said during a conference call explaining the labor deal.

We covered GM's communications efforts during the recent UAW strike as well as Chrysler's efforts during the six-hour strike staged by the UAW last week.

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