The United Auto Workers and Ford Motor Co. (NYSE:F) began “high-level financial discussions” today in an effort to move forward on a new labor deal. Union members are looking to become richer from the deal than the contract with General Motors (NYSE:GM).
This week, UAW vice president Jimmy Settles and Ford (NYSE:F) will conduct marathon negotiating sessions. When the deal becomes close, meetings may “last around the clock.” The union has not indicated that it will strike if a deal is not reached; however, local union presidents are preparing for one if a deal is not reached.
Ford’s stock (NYSE:F) is down 0.20% to $9.84 on the news. Shares are down 41.27% year to date. The stock has traded in a 52-week range between $9.32 and $18.97.
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