Tag Archives: ford uaw

Standard & Poor’s Raises Ford Motor to Highest Junk Level, Credit Watch Removed after No Cost Increase UAW Contract

Standard & Poor’s Ratings Services has raised its corporate credit rating on Ford Motor and Ford Motor Credit to ‘BB+’ from ‘BB-‘. This is just one notch below investment grade. Ford bonds have been appropriately rated as “junk” since 2005, … Continue reading

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Ford UAW Workers Ratify 4-Year No Cost Increase Contract

The Ford UAW agreement is based of Ford’s promise to add another 5,750 new jobs and invest what’s said to be $16 billion to produce new models and revised vehicles and components by 2015. About $6.3 billion will be invested directly into retooling U.S. plants.

Ten years ago the there were more than 102,000 UAW jobs at Ford. Today there are 40,000. As is the current management practice in the ailing U.S. economy, the jobs claim includes so called “retained jobs,” as well as some new ones. Continue reading

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UAW has Deal at Ford Pending Local Approvals. 5750 Jobs Added or Retained During Contract. Shared Prosperity Claimed

The tentative agreement is based of Ford’s promise to add another 5,750 new jobs and invest what’s said to be $16 billion to produce new models and upgraded vehicles and components by 2015, of which, $6.3 billion will be invested directly into retooling and upgrading plants. As is the current management practice in the ailing U.S. economy, the jobs claim includes so called retained jobs, as well as some new ones. All of this is contingent upon contract approval by local union members. Continue reading

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Ford UAW is Next Labor Contract Fight. Strike Possible?

If the GM UAW contract sets the pattern, as it has in the past, a combination of job creation and increased pay for new union hires (the shrinking UAW desperately needs the revenues) will occur and signing bonuses will be given to existing workers under a new Ford UAW deal. Continue reading

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