Ford workers approve new contract, 63 pct in favor

[Omaha Steve]

Source: AP-Excite

By TOM KRISHER and DEE-ANN DURBIN

DETROIT (AP) - Union workers at Ford Motor Co. (F) overcame early opposition to a new four-year contract with the company and overwhelmingly approved the deal in voting that lasted two weeks.

More than 26,000 workers, or 63 percent of those who cast ballots, voted in favor of the pact, while almost 15,000, or 37 percent, opposed it, the UAW said in a statement Wednesday.

The vote means that new contracts have been approved at Ford and General Motors Co. (GM), with Chrysler workers just starting to vote on their deal. At all three companies, the union agreed to profit sharing and signing bonuses instead of annual pay raises, a novel concept that helps the companies control their costs yet rewards workers.

The contracts set the wages and benefits for 112,000 auto workers nationwide, and also influence the pay at auto plants owned by foreign companies, auto parts supply companies and other industries.


Read more: http://apnews.excite.com/article/20111019/D9QFDLFO0.html

[ieoeja]

1. If they gave up their raises, then inflation is going to kill them.

I am really surprised they did this.

[madrchsod]

2. not a bad contract for this day and age.....