Uaw: General Motors raises offer to autoworkers union ahead of UAW bargaining update
DETROIT: United Auto Workers President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as General Motors increased its offer to the union. In a prepared statement, GM said it made an offer Friday with "substantial movement in all key areas in an effort to reach a final agreement with the UAW and get our people back to work." The company says the offer raises pay for most of the work force to $40.39 per hour, or about $84,000 by the end of a four-year contract. That's a 23% increase over the $32.32 per hour that most factory workers make. Compounded annually it's 25%. The company also said it reinstated cost of living raises for many employees that were given up in 2007, boosting the pay increase to over 30% by Septemb...