GM, CAW Reach Tenative Deal

The CAW and General Motors have reached a tentative agreement, sticking closely to the "pattern" set by negotiations between Ford and the CAW. The GM deal retains many of the same elements as the Ford agreement; a 10 year progression to full wages, a revised pension plan for new hires and lump sum payouts rather than wage increases and cost of living payments. GM will add a third shift to the Oshawa flex line, add 100 jobs to their St. Catharines, Ontario powertrain plant and keep the Oshawa consolidated line open until 2014, rather than closing it in 2013. 1,750 jobs will be either created or maintained via GM's actions. GM will also invest $675 million into Canadian manufacturing over the four year term. In the immediate future, the CAW and Chrysler will have to come to some sort of agreement. Tony Faria, a professor at the University of Windsor and a noted auto industry expert, told the CBC that "Chrysler will agree to the same pattern, very reluctantly". Faria also noted rather ominously that the end of these negotiations could be the start of the Big Three looking to move production of their vehicles to cheaper locales. from The Truth About Cars http://www.thetruthaboutcars.com

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