• Most Popular
  • Most Shared

UAW says American Axle contract ratified by 78 pct

Thu May 22, 2008 10:51pm EDT

Stocks

   

DETROIT, May 22 (Reuters) - United Auto Workers union members ratified a new four-year contract with American Axle & Manufacturing Holdings Inc (AXL.N) by a 78 percent margin, the UAW said in a statement on Thursday.

Stocks  |  Global Markets

The agreement, which calls for the closure of three plants, covers about 3,650 workers at facilities in Michigan and New York.

"Our members have had to make some tough decisions for themselves and their families and have done so with careful deliberation," UAW President Ron Gettelfinger said in a statement.

American Axle spokeswoman Renee Rogers confirmed the union had notified the company that its national agreement, as well as local agreements that cover some of the facilities, had been ratified. (Reporting by David Bailey; Editing by Tomasz Janowski)



More from Reuters

Photo

Home prices flat after five months of gains

NEW YORK (Reuters) - U.S. home prices were unchanged in October, according to the widely watched Standard & Poor's/Case-Shiller indexes released on Tuesday, indicating stabilization in the hard-hit housing sector though the figures dashed hopes for a sixth straight monthly increase.

An employee swipes a customer's credit card through the card reader at a restaurant in Tokyo February 19, 2005.REUTERS/Issei Kato

Taking a swipe at credit cards

New legislation meant to protect consumers could be a "game changer" for the industry -- and not in a good way.  Full Article 

 dealer shuffles a deck of cards during a poker game at a casino in Budapest September 15, 2009.  REUTERS/Katoly Arvai

Placing their bets

Two IPO filings will test investors' appetite for risk that they probably would've avoided in the past year.  Full Article