Three days before the current contracts are set to expire, sources say that the United Auto Workers and Big Three automakers (General Motors Corp., Ford Motor Co. and DaimlerChrysler AG) appear close to simultaneous labor agreements. Contract talks have been going on since mid-July and cover issues such as wages and benefits for 300,000 workers as well as pension payments and benefits for retirees and spouses. A strike was not expected due to the pressure put on the industry from foreign competition.
See "Sources: UAW, Automakers Appear Near Deal", The New York Times, September 10, 2003