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Cars and Drivers

Ford (F) Gets Its UAW Deal, Workers Save The Company

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By Douglas A. McIntyre Published
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The UAW negotiations with Ford (F) went fast. The template was already in place from the deals with GM (GM) and Chrysler. There will be a fund set up so that the UAW can pay out benefit money. Ford will probably have to put up $20 billion to set this up. Workers will be put into two tiers with the lower level employess being paid less.

Ford is in trouble, so getting a contract finished was important. With twelve months in a row of declining sales, the No.2 US car company could not have weathered much of a strike.

The UAW chief Ron Gettelfinger may end up being the man who was most responsible for fixing the wreck that Bill Ford made of his family’s company. Alan Mulally, who was brought in from Boeing (BA) to take over the flagging car company may have his name in the history books. But, if the head of the union had kicked Ford when it was down, it mgiht have been the finish.

Gettelfinger gave up a lot of jobs to give Ford the chance to be financially viable again. And, for that his members may not remember him kindly.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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