From the ArcaMax Publishing, Business News Newsletter:
http://www.arcamax.com/news/businessnews/s-349160-908457
DETROIT (UPI) -- The United Auto Workers and American Axle were
optimistic Saturday they have struck a deal to end a nearly 12-week
walkout at the Detroit manufacturer.
Union and the company officials confirmed late Friday they had reached
a tentative agreement on a new labor contract. The Detroit Free Press
said the walkout was one of the longest in recent automotive history.
"Our members at American Axle have displayed extraordinary solidarity
during this strike," UAW President Ron Gettelfinger said in a
statement. "The bargaining committee worked extremely hard to achieve
this tentative agreement, and they have voted to recommend it to the
membership."
The newspaper said American Axle, a maker of automotive drivetrains
and chassis, confirmed the deal but declined to comment further. The
union members were scheduled to learn details of the proposal at a
Sunday morning meeting.
Buyouts of $140,000 and buy-downs of $90,000 in exchange for lower
wages were expected to be part of the deal, the Free Press said, with
wages expected to be about $14 an hour for non-production workers, and
from $17 to $18 an hour for production workers.