Ford ratifies new contract

While the news at General Motors does not seem so good these days, 64% of skilled trades (and 87% of production workers) workers at Ford have voted to ratify the new contract between the auto giant and the United Auto Workers union. The new labor agreement promises to keep several factories in exchange for a “two tier wage system” that will give new hires lower wages and less benefits than existing union members. The union also agreed to transfer responsibility for its retiree health care fund to a union run trust. Presumable many of those who voted against the agreement are leery of the way in which these compromises sell out union principles.