Update: The Milwaukee Journal Sentinel has more details on the proposed contract … and the Business Journal is saying a strike won’t be called immediately even if the deal is voted down on Tuesday.
The Chicago Tribune has more information on the proposed Caterpillar contract for its approximately 800 unionized South Milwaukee workers. From the story:
Members of the United Steel Workers in Wisconsin are set to vote Tuesday on a proposed six-year contract with Caterpillar Inc. that would freeze wages, increase health care costs and give senior employees fewer protections.
The proposed agreement covers roughly 800 workers in South Milwaukee who, under the current contract, make about $18 to $34 per hour. Caterpillar acquired the South Milwaukee plant in 2011, when it purchased Bucyrus International Inc., a mining equipment maker, for $8.8 billion.
“Wages at the South Milwaukee facility are significantly above market, which puts our facility at a competitive disadvantage,” the company said in a summary of the agreement given to workers on Sunday at a union meeting.
A Caterpillar spokesman declined to comment further.
The proposed contract also calls for a lower wage rate for workers hired after May. It would additionally freeze pensions and would, instead, direct employee retirement contributions toward a new 401k plan. …
On Sunday, some workers who attended the union meeting expressed frustration over the contract.
“There was a lot of anger in the room,” said Dewey Lewis, who was the union’s president when the current contract was negotiated. “It’s totally unfair. No self-respecting union would accept it.”
Caterpillar is also offering a $2,500 ratification bonus and annual bonuses through a new employee reward program.
South Milwaukee Blog 
I’m not sure what market that Cat thinks the workers are paid ‘significantly above market’ in, but it wouldn’t be any market that I’m familiar with unless their market is high school flunkies or untrained monkies. Those figures ($18-34) seem pretty spot on for skilled laborers making an honest middle class living. The starting wage could possibly be slightly lower, but the top wage should also be a but higher too. Quality wages get you quality workers. You get what you pay for.
Wage freezes and that type of crap is BS. The workers physically destroy themselves for thirty to forty years to have a retirement of ten to twenty years, if they’re really lucky. Taking away pensions is BS too (which are supposed to be money saved by the company for later in lieu of a bit more money now). Doing this makes things more uncertain for the workers. Who knows what types of investments the reckless asshats on Wall Street will be making with money that isn’t theirs while lining their pockets regardless of any outcome or returns.
All of this coupled with the story last week of how the company did well enough to give the CEO a whopping 32% raise and they want to freeze the ‘every mans’ wages?!? If anyone should be having a wage freeze it should be that guy while giving the guys on who’s backs that they make all of that money a decent yearly cost of living raise and a bonus for a job well done, not a kick in the face and a punch in the gut. I’d say that there’s more than enough to be angry about!