Executives at Ford and Representatives of the UAW (United Auto Workers) just announced an agreement that allows for certain employee benefits to be curtailed in order to bring costs in line with their competitors'. This is good news as it shows that the union is flexible and willing to concede long held positions to help the company survive these difficult times. Experts also view this as a model from which GM and Chrysler can use when negotiating with their unionized workers.
The auto sales forecast numbers remain bleak. Sales were down for all the Big Three Auto companies. Yahoo News reported on March 3, 2009 the following US sales numbers for the Big Three Auto companies from the previous 12 months. General Motors was down 53%, Ford was down 48% and Chrysler was down 44%.
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