InfoAnda - Ford workers agree to cost-cutting: union

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Taliban launch attacks on U.S., Afghan military posts | | 9 August 2010
Philippines prepares to charge suspect in massacre | 27 November 2009
Bomb on passenger truck kills 7 in NW Pakistan | 18 August 2009

US vacations become victim of weak economy | 19 May 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Ford workers agree to cost-cutting: union

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Ford workers agree to cost-cutting: union AFP - Tuesday, March 10 DETROIT, Michigan (AFP) - - Workers at Ford Motor Co. have ratified a deal that will save the struggling automaker billions of dollars in health care costs, the United Auto Workers union said Monday. ADVERTISEMENT The announcement comes as the US government's "working group" on the automobile industry was meeting with the union and top managers of General Motors and Chrysler as they try to chart a way to restructure the two companies to avoid bankruptcy. The deal will allow Ford to cut labor costs and meet up to 50 percent of its 13.2-billion-dollar obligation to a trust fund for retiree health care benefits with common stock instead of cash. A similar agreement is expected shortly at GM and Chrysler because the union maintains similar contracts at each of the Detroit Three. That will allow GM to cut its cash outlays by as much as 10 billion dollars and Chrysler to improve its liquidity position by 5.3 billion dollars. A deal is also necessary in order for GM and Chrysler to meet a key requirement of their 17.4 billion dollar bailout packages ahead of a March 31 deadline. While Ford has repeatedly said it has enough cash to survive the downturn without government aid, it has used the deep recession in the industry to seek concessions from the union. Ford welcomed the deal, which it said would help it weather the collapse of auto sales amid a deepening recession and become more competitive in the long-term. "By working together with our UAW partners, we identified solutions that will help Ford reach competitive parity with foreign-owned auto manufacturers and that are important to our efforts to operate through the current economic environment without accessing a bridge loan from the US government," Joe Hinrichs, Ford vice president for global manufacturing and labor affairs, said in a statement. The UAW has always enjoyed better relations with Ford than with either Chrysler and GM and the union is using the negotiations with Ford to shield itself from demands for more concessions from the other two automakers. "Once again UAW members have stepped up to make the difficult decisions necessary to deal with the reality of the current economy, the deteriorating auto industry as a whole and specifically the negative impact the economic climate is having on Ford Motor Co.," said UAW President Ron Gettelfinger. The deal was approved by a relatively narrow margin: 59 percent of production workers and 58 percent of skilled-trades workers voted for the agreement. "We are focused on doing everything possible to rebuild a great industry and keep manufacturing jobs in the United States," Gettelfinger said in a statement. "As we have stated many times, in order to succeed, shared sacrifice will be required from all stakeholders, including executives, directors, shareholders, bondholders, dealers and suppliers." The contract concessions will also eliminate two paid holidays, eliminate two one-time productivity bonuses due next year, end the quarterly cost-of-living wage adjustments and put new limits on supplemental unemployment benefits that workers have been paid for a half-century. The Detroit Three reached a deal with the UAW in 2005 to transfer responsibility for retiree health care befits to the union by setting up a Voluntary Employee Beneficiary Association (VEBA). Ford said at the time that it would be able to reduce its overall health care liability by five billion dollars as a result of the deal, which it estimated would also produce an average annual net corporate savings of about 650 million dollars. Ford shares closed up 2.35 percent at 1.74 dollars. Email Story IM Story Printable View Blog This Recommend this article Average (3 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed US calls on G20 to help bolster int'l demand: report Global economy near pick-up: G10 bankers World stocks spiral lower on fresh financial woes Russian media teases Clinton over 'reset' button Merck to buy Schering-Plough in latest pharma tie-up View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Tuesday, 10 March 2009
Dalai Lama to demand Tibet autonomy, mourn past | International |
Iran says U.S. failing in Afghanistan | International |
Cubans wonder about military's growing role | International |
Sudan, North Korea among least free states: report | International |
Palestinian unity talks face low expectations | International |
Swiss man jailed for sex blackmail of BMW heiress | International |
Sudan can't fill gaps from expelled aid groups: U.N. | International |
YouTube to block music videos for UK users | Technology |
Microsoft's new system easier for browser switch | Technology |
Inventor says Google settles patent claim | Technology |
Cisco to unveil data center strategy next Monday | Technology |
Ad industry confronts grim research on spending | Technology |
Recession leads to cuts at Tribeca Film Festival | Entertainment |
Unique portrait of playwright Shakespeare unveiled | Entertainment |
U2 announces 2009-10 360 world tour | Entertainment |
Country music star Hank Locklin dies at 91 | Entertainment |
China says U.S. naval ship was breaking law: report | International |
Palestinian unity talks face low expectations
Policeman killed in growing Northern Ireland violence | International |
U.S. sees only modest troop cuts in Iraq this year
Sri Lanka bombing kills 10, wounds cabinet minister | International |
Rights group demands freeze on West Bank quarries
Dalai Lama demands Tibet autonomy, mourns past | International |
Iran hangs man accused in kidnapping of Belgians
Japan opposition leader seeks to ride out scandal | International |
Brown vows N. Ireland peace 'unshakeable'
Iraq's women's minister to withdraw resignation
Italy high court to rule on CIA kidnap case | International |
Ford workers agree to cost-cutting: union
U.N.'s Ban, Bill Clinton urge Haiti to seek recovery | International |
Merck to buy Schering-Plough in latest pharma tie-up
North Korea relents on crossing border to factory park | International |
Obama lifts Bush ban on stem cell research
Arab role needed to solve Iran nuclear issue: ElBaradei | International |
Four peacekeepers wounded in Darfur attack | International |
Global economy near pick-up: G10 bankers
Salazar calls for solar, wind energy zones
Canada says new NATO chief doesn't have to be European
US general says no further withdrawals planned
YouTube to block music videos for UK users | Technology |
Obama lifts restrictions on stem cell research
US-TECH Summary
YouTube to block music videos for UK users
Toshiba moves solid-state drive assembly offshore | Technology |
Obama musters campaign army for economic fight
TED begins hunt for remarkable fellows
Ad industry confronts grim research on spending
Cisco to unveil data center strategy next Monday
Bebo launches US social-networking website for Latinos
NY Times raises cash to pay down debt
Palm moves to bolster capital ahead of Pre launch
Nokia takes on Apple in online software "arms race"
US-TECH Summary
Nokia takes on Apple in online software "arms race"
U2 album sales near 500,000 in U.S.: manager | Entertainment |
Aussies play party poopers with epic upset
Pentagon: Chinese vessels harassed unarmed ship
Japan to help train ETimor's military personnel
Michael J. Fox hosts special on hope | Entertainment |
Dalai Lama to demand Tibet autonomy
Chicago and Earth, Wind & Fire team for summer tour | Entertainment |
Pakistan crisis deepens with march, talk of arrest
White House: US will operate in South China Sea
China drives home rejection of 'Western' democracy
NKorean premier to visit China: state media
Dalai Lama to lament past and lift hopes in key speech
Pakistan: Opposition chief comes close to treason
Julia Roberts to produce 'Jesus Henry Christ' comedy
US Treasury chief to meet Chinese FM
Stocks reel as Japan sinks further
First China-assembled Airbus set for June delivery: report
Car sales in India up but don't call it recovery
'Watchmen' dominates box office
YouTube blocks premium music videos in Britain
Muziic turns YouTube into rich source for songs
Rapper "C-Murder" jailed after alleged violation
Utah to make it easier to buy alcohol in bars
Police seize more than $1 million from Phish fans
'Watchmen' triumph at weekend box office
Recession leads to cuts at Tribeca Film Festival
Oprah shares her magazine cover with the other 'Mrs O'
Bernstein heirs give studio items to Indiana U
Iran says U.S. still warmongering | International |
Palestinian factions begin unity meeting in Cairo
U.S. allies told to review role in secret renditions | International |
Sudan seeks options to get war crime warrant lifted
Stem cell go-ahead puts Obama at odds with pope | International |
Suicide attack in west Baghdad kills up to 33
Suicide attack in west Baghdad kills up to 33 | International |
Fed chief wants 'forceful' action to stem crisis
Suicide bomber kills 25 near Baghdad
Global economy could contract in 2009: IMF
Mugabe urges support for Tsvangirai | International |
Suicide attack in western Baghdad kills 28
World faces 'Great Recession': IMF chief
U.N. war on drugs seen failing to curb abuse | International |
Karzai trip may help Iran join US-led Afghan talks
No return to NIreland 'old days': British PM
EADS soars back in the black with 2008 profit
Biden sounds out NATO allies on new Afghan strategy
Chimp used planning skills to attack humans
Time running out for US troops in violent Mosul
EU relations 'under strain' over credit crunch: Miliband
Bankruptcy pressure mounts as officials visit Detroit
Report slams crude effort to fight Web militants | Technology |
India's own Google Earth causes security worries | Technology |
American Idol heads to iPhone | Technology |
Stardoll and Piczo sites combine | Technology |
Nokia takes on Apple in online software arms race | Technology |
Odierno: No sign Iraqis will ask US to stay
India's own Google Earth causes security worries
Obama eyes sweeping overhaul of education
Report slams "crude" effort to fight Web militants
Stem cell go-ahead puts Obama at odds with pope
Stardoll and Piczo sites combine
China tells US to stop 'illegal' naval activities
Toshiba moves some memory device assembly offshore
"American Idol" heads to iPhone
NKorea reopens SKorea border despite tension
Madagascar opposition leader quits French residence
US Marine dies in noncombat incident in Iraq
Google software bug shared private online documents
NIreland faces 'abyss' after new killing
Guantanamo inmates claim 9/11 planning: report
Continuity IRA claim N.Ireland police killing: report
Obama lifts Bush ban on stem cell research
Sarkozy wraps up Mexico visit hailing closer ties
Watchmen falls short of expected box office take | Entertainment |
Jane Fonda marks return to Broadway after four decades | Entertainment |
Unique portrait of playwright Shakespeare unveiled | Entertainment |
American Idol heads to iPhone | Entertainment |
Rebecca Romijn casts spell in Eastwick | Entertainment |
NKorea slams Japan over kidnap issue
SKorean freighter feared sunk with 16 crew off Japan
Sri Lanka suicide blast kills 14, wounds minister
Dalai Lama: Tibet in 'constant fear' under China
Dalai Lama: Tibetans live in 'constant fear'
China: UN should consult Sudan as groups expelled
NKorea reopens border to stranded SKorean workers
Michael J. Fox hosts special on hope
NKorean cargo ship collides with SKorean boat
Report: China-made auto sales up 25 pct in Feb
China judge says stability is this year's priority
HK regulators launch inquiry into sudden HSBC drop
Dalai Lama says Tibet 'hell on earth' under China
Philippine Airlines boosts flights to Canada, US
Taiwan dollar logs biggest gain in almost 3 months
Malaysia announces 16.2 billion dollar stimulus package
Leno to give free show for Michigan's unemployed
US-ENTERTAINMENT Summary
China consumer prices fall for 1st time in 6 years
Rebecca Romijn casts spell in "Eastwick"
Kazakhs draw up unemployment plan
"American Idol" heads to iPhone
China prices drop, Japan stocks hit fresh 26-year low
Jane Fonda marks return to Broadway after four decades
World's most expensive city rankings upset
Anna Nicole Smith's estate seeks high court help
China Eastern Airlines seeking more government aid: company
CORRECTED: Unique portrait of playwright Shakespeare unveiled
Singer in Hong Kong sex photos launches comeback
Indonesian pilot: Jammed steering led to '07 crash
Row after French director compares illegals to war-time Jews
Nul points? Russian Eurovision song stirs criticism
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01