« Can GM Keep Momentum Up? |
Main
| Hey, Mr. Escalade Man »
November 6, 2007
DEARBORN, Mich. — Local union presidents and bargaining chairs have unanimously voted to recommend approval of a tentative four-year contract between Ford and the United Auto Workers, a union local official said Monday, according to USA Today.
Bruce Yates, bargaining chairman at Local 2000 at an assembly plant in Avon Lake, Ohio, said the deal was recommended by a voice vote.
A summary of the contract posted on the union's website shows that the Ford contract is similar to deals ratified by workers at General Motors and Chrysler.
Ford will contribute $13.2 billion to a union-run trust that will pick up much of the company's $22 billion in retiree health care liabilities. The company also will pay $2.2 billion for retiree health care until the trust takes effect in January 2010.
A typical UAW worker at Ford will get $12,904 worth of economic gains over the life of the contract, including a $3,000 signing bonus and lump-sum payments of 3% in the second year, 4% in the third year and 3% in the fourth year, according to the summary.
GM workers won similar bonuses with total gains of $13,056, while Chrysler workers are to receive $10,235.
The summary also said that the UAW won commitments from the company to build five flexible body shops at assembly plants, as well as a $200 million commitment to invest in new technology and equipment at stamping plants and substantial investments at Ford powertrain operations.
Posted by Peter C. T. Elsworth 
at 11:28 AM to Ford
, Unions
| Permalink
Please be civil. Vicious comments, personal attacks and profanity won't be published.
