The Economy Project
(2009-11-02)
(photo by Steve Carmody/Michigan Radio)
The United Auto Workers confirmed today that the union's rank and file has overwhelmingly rejected new contract concessions with Ford Motor Company.
The proposed contract concessions were intended to bring Ford's UAW contract in line with those worked out in bankruptcy by GM and Chrysler. But UAW production and skilled workers rejected the proposed contract concessions by a wide margin.
"They still have massive amounts of debt when compared to their two rivals, GM and Chrysler, who were able to sweep much of their debt away with their bankruptcies," says John Wolkonowicz, an analyst with IHS Global Insight. "Now Ford also has unequal work rules and a unequal deal with the UAW."
He adds Ford is now the only U.S. automaker which may face a union strike, when the next UAW contract will be up for negotiation. © Copyright 2012, Michigan Radio
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