1.
U.S. markets recover from steep losses
YPSILANTI, Mich., Feb. 21 (UPI) -- Upcoming contract talks with Detroit automakers will likely produce more job cuts and lower wages for new union workers, a top auto industry economist says.
It is possible Ford Motor Co. will push the United Auto Workers union for across-the-board pay cuts of as much as 20 percent, said Center for Automotive Research Vice President Sean McAlinden.
McAlinden, a longtime organized-labor supporter, said he this summer's UAW contract negotiations will be tough -- but he said he sees no chance of a strike, which he said would devastate the already weakened union and auto companies, The Detroit News reported.
The union's four-year auto contracts expire Sept. 14.
The domestic automakers' declining market share, aging work force and cheaper non-union labor abroad and in the U.S. South, have eroded the union's power, McAlinden said.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
