Early signs are positive for a new contract between Ford (F) and the United Auto Workers.
A union official said Monday that 78% of workers who voted at UAW Local 900 in Wayne, Mich., approved the deal, according to The Associated Press. The local represents about 3,900 workers at Ford's Michigan Truck and Wayne Assembly factories.
The contract freezes wages and cuts cash bonuses. It also allows some payments to the Voluntary Employee Beneficiary Association, a union-run trust for retiree health care, to be paid in stock.
On Sunday, workers at an axle plant in Sterling Heights, Mich., also approved the changes, the AP said. Voting is to be completed by March 9.On Monday, Ford shares were trading down 16 cents at $1.84, while shares in General Motors (GM) were down 20 cents at $2.05.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV