The United Auto Workers and General Motors reached a tentative contract agreement. The four year deal includes a $5,000 signing bonus, a pay increase for entry level workers, a new profit-sharing system and an agreement to add jobs. The plan ties bonuses to quality. Negotiations between the UAW and Chrysler are ongoing, after continuing through the weekend. Sources say that Ford is waiting to see the terms of the GM deal before continuing negotiations with the UAW. Gm workers still have to vote to ratify the contract.
See "Union Pact With GM Puts Pressure on Ford, Chrysler", Sharon Terlep, The Wall Street Journal, September 18, 2011