Monday, October 15, 2007

Ford Contract Proposal:
More Buyouts - Less VEBA

According to the Detroit News, the ongoing Ford-UAW contract will likely depart markedly from the "pattern" set by the GM deal. GM's VEBA doesn't kick in for two years. Ford doesn't have that kind of time, so Ford is expected to offer less and demand a faster phase-in for the VEBA. In exchange, Ford has put on the table a bonus structure that rewards union members for future performance in a manner that more closely mimics the incentives for management. Another round of buyouts is expected to allow the company to integrate 7,500 ex-Vistion employees.
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