Nov 16, 2019

UAW votes in favor of new contract with Ford

United Auto Workers union members picket at the General Motors Tech Center on Oct. 25 in Warren, Mich. Photo: Bill Pugliano/Getty Images

The United Auto Workers Union said its members voted to approve a four-year contract with Ford, Reuters reports, after reaching a tentative deal in October.

Why it matters: With 56.3% of Ford’s hourly workers voting in favor of the deal, Ford will avoid a strike like the six-week work stoppage that cost General Motors nearly $3 billion earlier this fall, per Reuters.

  • The union will now focus on striking a deal with Fiat Chrysler, the last of the three unionized domestic automakers.

Go deeper: UAW president to take leave of absence during corruption probe

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Auto workers union and Fiat Chrysler reach tentative deal

United Auto Workers on week six of a national strike against General Motors on Oct. 23 in Flint, Michigan. Photo: Bill Pugliano/Getty Images

The United Auto Workers reached a tentative four-year labor agreement with Fiat Chrysler on Saturday, CNBC reports.

The big picture: UAW reached tentative deals with Ford and General Motors in October after weeks of labor strikes, reducing GM's 2019 earnings by nearly $3 billion. The auto workers' deal at Ford came quickly, without any labor disruption.

Go deeperArrowNov 30, 2019

UAW president resigns amid corruption probe

United Auto Workers President Gary Jones. Photo: Bill Pugliano/Getty Images

United Auto Workers President Gary Jones has resigned, effective immediately, amid corruption charges, per his attorney, the AP reports.

Why it matters: UAW's executive board had already started taking steps to remove Jones under its bylaws, accusing him of “false, misleading and inaccurate expense records,” and indicating those charges could lead to his expulsion from the union. Jones has been implicated in an ongoing federal investigation into corruption at UAW, according to a CNBC report. He has not been charged by federal prosecutors, however federal agents raided his home in August.

Go deeperArrowNov 20, 2019

It's every carmaker for itself

The once monolithic automotive industry is splintering over a range of issues, as companies scramble to cope with unprecedented technological disruption and business challenges.

The big picture: Although fiercely competitive in the showroom, automakers have long presented a united front on shared interests like trade policy, government regulations and labor relations. That's all gone out the window lately; now it's every man for himself.

Go deeperArrowNov 22, 2019