>> ASIAONE / NEWS / LATEST NEWS / BUSINESS / STORY
Ford, UAW reach tentative contract agreement without strike
Sat, Nov 03, 2007
DETROIT - THE United Auto Workers union said it reached a tentative four-year contract agreement with Ford Motor Co, avoiding even the threat of a strike against the struggling automaker.

The deal, reached around 3.20am (3.20 pm Singapore time), must be ratified by the UAW's approximately 60,000 members at Ford.

If approved, it would bring a close to historic negotiations that have yielded agreements designed to return the struggling US-based automakers to profitability.

Details of the Ford agreement were not immediately released, but the deal likely will be close to what was negotiated with General Motors Corp and Chrysler LLC.

Those pacts - which were reached after short strikes against the automakers - include a union-run trust that would take over the companies' retiree health care obligations, a lower-tier wage scale for some workers and some job security pledges.

The Ford deal came after a bargaining session that lasted more than 41 hours inside the automaker?s world headquarters building in Dearborn, Michigan.

'Our bargaining committee came through for our active and retired members,' UAW President Ron Gettelfinger said in a statement.

The deal encourages Ford to invest in its products while addressing the economic needs of union members, his statement said.

'We face enormous challenges - and we also have enormous potential,' UAW Vice President Bob King said in the statement.

The chief union negotiator with Ford said the union's goals were to win new product and investment from the company, get job security and protect seniority rights.

'We made progress in all these areas,' he said. -- AP
 

 
STORY INDEX
 
  Ford, UAW reach tentative contract agreement without strike
   
 
  Mid-East, Japan banks eye stake in Malaysia's RHB
   
 
  Citigroup CEO Prince to resign
   
 
  Citi to hold emergency board meeting
   
 
  Merrill's credibility, stock take hit
   
 
  Wall Street wobbles, ekes out gains after jobs report
   
 
  US payrolls grow by 166,000 in Oct, jobless rate holds steady
   
 
  Take-up of JTC ready-built space rises to 2-year high
   
 
  European stocks sharply lower, Barclays sinks
   
 
  Asian stocks close sharply lower on US subprime fears
   

Elsewhere in AsiaOne...

Wine,Dine&Unwind: Ramen, rice balls and green tea make the grade for Japan's space cuisine

Travel: Sarawak, Malaysia

Health: Will genital warts affect plans to start a family?

Motoring: COE prices continues upward trend in May

Digital: 80 new Oracle solutions for SMBs unveiled

Business: 'No cause for alarm' on minimum sum

Just Women: Luxe girl

 

We welcome contributions, comments and tips.
a1admin@sph.com.sg
Search: