UAW President On Labor's Sacrifices

Ron Gettelfinger rose a from chassis-line repairman at a Ford plant in Louisville to become president of the United Automobile Workers Union, representing more than 1 million members. CBS News anchor Katie Couric spoke with him today.

Gettelfinger: That's totally false, Katie. And incidentally, this was an emergency bridge loan that would get us through this economic downturn that our entire nation finds itself in.

Couric: Having said that, UAW members average 42 paid days off a year, including five weeks of vacation and 17 holidays. Do you think, Mr. Gettelfinger, this may seem excessive in light of current economic conditions and the condition of the U.S. auto industry right now?

Gettelfinger: Well, you know, I would like to compare that to the Congress of the United States, but I won't do that. What I will say to you is this: We have made it unequivocally clear that as long as all stakeholders are willing to come back to the bargaining table, we're willing to be there. We're willing to do more.

Couric You're insisting, really, that labor has been asked to sacrifice too much and more than anyone else?

Gettelfinger: I want to be clear: Labor has made a tremendous amount of sacrifice in the past. Are we willing to do more? Yes, we will. But I don't even know what that means until we get the right people at the table.

Couric: You support intervention from the White House and the Treasury Department to stave off bankruptcy. Why do you think that's so important?

Gettelfinger: Customers will not buy an automobile from a bankrupt company. When one of these companies goes into Chapter 11, they're going to go from there to Chapter 7, and they're going to dissolve. The company will no longer exist.

Couric: And you think that will lead to the demise of the other big three automakers?

Gettelfinger: I think for sure it would take two of them down. There's no question in my mind that if General Motors and/or Chrysler goes into bankruptcy, it's all over for those two companies.