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U.S. markets recover from steep losses
TORONTO, Dec. 4 (UPI) -- The head of the Canadian Auto Workers union says he completely backs concessions offered by the United Auto Workers union in the United States.
Speaking in Toronto, CAW President Ken Lewenza said he supported UAW President Ron Gettelfinger's decision Wednesday to temporarily give up the "jobs bank" at General Motors, Chrysler and Ford to avert potential bankruptcies, the Windsor Star reported.
The fund paid thousands of workers nearly full wages while they were laid off.
Lewenza said the CAW was fully behind Gettelfinger's leadership.
"We are on good terms and on the same page. I respect whatever decision he makes," he said.
Lewenza said the Canadian dollar, higher productivity in Canada and government healthcare mean the CAW's labor costs are still competitive with the U.S. market.
As for federal funding being sought by the automakers in both countries, Lewenza said he expects the Canadian government to proportionally match anything the U.S. Congress grants the carmakers, the Star said.
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