The United Auto Workers won't address the cost-cutting demands included in the auto-industry bailout until President-elect Barack Obama takes office next week, union President Ron Gettelfinger said Wednesday.

Gettelfinger's hesitation comes as a Feb. 17 deadline bears down on General Motors Corp. (GM) and Chrysler LLC. The companies have until then to craft a plan that gets their labor costs in line with the U.S. operations of foreign-based competitors under terms of the low-interest loans from the Bush administration to avoid bankruptcy. Ford Motor Co. (F) didn't ask for funding but is expected to push for the same concessions granted to its rivals.

"We're waiting for the Obama administration," Gettelfinger said in an interview with a Detroit radio station. "He's sympathetic to the industry and not anti-union."

While the union and companies have been in talks over changes to the labor contract, formal negotiations have yet to begin.

Gettelfinger said he is hopeful Obama will address what he considers unfair demands on workers. He also said that the union is not necessarily bound by the loan deal struck between the auto maker and U.S. Treasury. Among the provisions is a clause that says the companies will lose the funding if the union were to strike.

Gettelfinger has complained that the union lacks a clear understanding of what is expected under the loan program. The deal gives GM and Chrysler until March 31 to finalize changes to the labor contract and get them approved by UAW members, the companies are required to present key elements Feb. 17.

GM Chief Operating Officer Fritz Henderson said this week that he is confident the company and union will reach a deal that meet conditions of the loans.

-By Sharon Terlep, Dow Jones Newswires; 248-204-5532; sharon.terlep@dowjones.com.

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