Local 761 Responds to Announced Sale of Appliance Park

Dear Members;

As you are aware, GE confirmed the appliance business is indeed being puton the market "For Sale".  This is a sale of the Entire Appliance Division, not just Louisville.  Jim Campbell told me and the Executive Board early this morning, he has already received four or five calls from prospective buyers who heard the news, which "leaked out"  two days ago.

There are a lot of unanswered questions for all of us.  I have been in touch with IUE/CWA President Jim Clark, the IUE/CWA-GE Conference Board and the IUE/CWA Legal Department, and have asked them to put together a summary of what happens in the area of our benefits, what takes place as far as the negotiating process, and what our contractual rights are.  We have received assurances from the IUE/CWA-GE Conference Board, those who are 60 or older (and qualify for a pension) do not need to make a decision to retire based on just the announcement of the sale, unless you are ready to retire.  They assured us notification will be given in plenty of time before the transition period takes place.

One positive note is we have learned Jim Campbell will be staying on with appliances, and will be part of the negotiating process.  His loyalty has always been to the appliance business and the people of Appliance Park.  He has directed his leadership team to develop a "Matrix" for employees to understand how they will be affected as far as their age, number of years of service and their benefits.  Ultimately, most of the benefit questions will be answered by the terms of any sales agreement which is reached.  This will be in addition to the information we receive from the IUE/CWA.   Hopefully, this will help everyone understand how their benefits will be affected by this situation in areas of the Pension, SERO's, Health Insurance, etc.

I have made the Company aware of my disappointment with Jeff Immelt and his obvious lack of credibility.  I told them, "If he were present, I would tell him to his face, (but in more blunt and colorful language), His statement to the Negotiating Committee in April, 'You continue to be smart, we (the company) will continue to be fair', Was as truthful to us, as he was to the stockholders about the state of the business."

At 11 am this morning Vice President Larry Badgett and I met with Mayor Jerry Abramson, Larry Hayes, who represents Governor Steve Beshear's office, and Joseph Reagan of Greater Louisville Inc.  They wanted to assure us that they stand ready to do whatever it takes, in support of this membership to continue appliance manufacturing here at Appliance Park.  They look at this as an opportunity to create an expanded business presence with the potential to retain and possibly attract more jobs.

In closing, it is important for all of us to maintain our position as the Best Appliance Makers in the World.  We should continue to do our jobs as we always have and help make Appliance Park as attractive to potential buyers as possible, so they will not only want to come to Louisville, but stay in Louisville through future investments in new products.

Fraternally,

William T. Spires
President
Local 761, IUE/CWA