The UAW reached a tentative four-year agreement with Chrysler yesterday after only a six-hour walkout. Word of the deal came just after the UAW announced that GM workers had ratified their four-year agreement with the company.
Now it's Ford's turn.
Ford Motor Co. could be the toughest bargainer yet because of its weakened financial position, thanks to a whopping $12.6 billion loss last year. It's expected that Ford probably will look for a different deal than Chrysler and GM, perhaps with deeper concessions.
Ford generally is seen as the weakest of the Big Three automakers. It has mortgaged its factories to secure a $23.4 billion line of credit to cover losses and fund its restructuring plan, which calls for closing 16 facilities by 2012. Ford has identified 10 of the closures but has yet to announce the remaining 6 factories to close.
[AP]
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