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Ford, UAW Reach Contract Deal

Oct 13, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com

Company: Ford Motor Co. (F)

Ford and the United Auto Workers have come to a tentative agreement on contract concessions. The pact was presented to union leaders from Ford plants at a meeting today for a vote.

The deal modifies a four-year pact put into place in November 2007. While Ford and the UAW did not disclose details of the deal, it reportedly includes yearly bonuses based on improvements in productivity, and binds the union to go into arbitration rather than strike in the next round of contract talks.

Ford has 41,000 UAW members.

Ford shares are trading up nearly two and a quarter percent Tuesday.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910Ford101309&mv=1. 

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Company: Ford Motor Co. (F)


Related terms: contract, productivity, strike, unions, video

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