Ford, GM Set Deals with Canadian Auto Workers

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By Trey Thoelcke Published
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The three large American auto firms have to hope that their negotiations with the United Auto Workers will be as easy as the ones they have had with the Canadian Auto Workers. The CAW have set deals with Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM). These almost certainly will be ratified. Since Chrysler is the smallest of the three companies, it does not want to be the only one that could be harmed by worker slowdowns or strikes. It is on a hot sales streak it cannot afford to have interrupted.

According to the AP:

CAW President Ken Lewenza called it a difficult few days but said GM ultimately agreed to the framework of a deal that the union reached with Ford Motor Co. earlier this week.

The union decided to keep working past a midnight Monday strike deadline after reaching a deal with Ford and extending its contracts with GM and Chrysler.

Workers stayed on the job as talks continued, but the union warned it could go on strike after giving GM and Chrysler 24 hours’ notice. They wanted the Ford contract to serve as a template for the other two companies.

Like the Ford deal, the GM agreement cuts wages for new hires and freezes pay for current workers. But it also gives them lump-sum payments to cover inflation and for ratifying the deal.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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