General Motors made its first wage-and-benefit offer to the United Auto Workers that falls far short of the union’s initial demands. The offer Thursday comes just a week before the UAW’s national contracts with GM, Stellantis and Ford are set to expire. UAW President Shawn Fain called the offer insulting, but it's a sign of movement on economic issues. The union is threatening to strike any automaker that hasn’t reached an agreement by the time contracts expire at 11:59 p.m. on Sept. 14. GM says it’s offering a 10% wage increase during a new four-year contract, plus two more 3% one-time payments. It’s also offering a $6,000 inflation payment, $5,000 more in lump sums over the life of the contract, and a $5,000 contract ratification bonus.
