The Wall Street Journal is reporting that General Motors (GM/NYSE) and the UAW are working on the final details of a new four-year labor contract "that would create a multibillion-dollar union-run retiree health-care fund and allow the auto maker more flexibility to hire new workers at lower cost." The report was posted on WSJ.com not long after midnight US east coast time. So a new agreement could be announced Wednesday morning.
Or not. More from the linked article:
At the same time, the agreement under discussion would assure the UAW that GM would make continued investment in the U.S., these people said, in a time when the auto maker has looked increasingly abroad for growth.
A deal wasn't final last night and details have yet to be completed, these people said. Individuals familiar with the process cautioned that the situation could remain fluid until UAW President Ron Gettelfinger and the UAW leadership formally sign off on a deal.
Still, considerable progress had been made on a proposed agreement that included all major economic issues, including wages, pensions, benefits and plant investments, said the people familiar with the matter.
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