Word: forded
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...political will in Washington to pass a comprehensive rescue plan. When they returned to Congress last week to plead for help, the automakers asked for $34 billion in order to avoid bankruptcy. Most economists agree that if even one of the Big Three - Chrysler, General Motors or Ford - were to file for Chapter 11, it would have a potentially crippling cascade effect on the economy. The automakers and their suppliers employ more than 2.5 million American workers - nearly one in 10 U.S. jobs. The $15 billion is intended to see Chrysler and GM in particular - Ford is in better financial...
...late 2005, workers at Ford came within a few dozen votes of scuttling a plan that offered the company relief from skyrocketing health-care costs by raising co-pays and deductibles. At Chrysler, the same cuts never came to a vote because the union's Chrysler council, which is made up of top local union officers, opposed the cuts even though the union board had recommend approval...
...Meanwhile, the UAW has allowed new employees to be hired at lower wages. Under the 2007 contracts it signed with GM, Ford and Chrysler, new blue collar workers start at $14 per hour, rather than the $28 per hour paid senior employees. New workers also get a 401(k), instead of a defined-benefit pension plan, and a restricted menu of health-care plans...
...contracts the union signed and ratified with GM, Ford Motor Co. and Chrysler last year, over significant internal opposition, also represent a 5% cut in real wages because money from the automatic cost-of-living escalator that has been a feature of UAW contracts for more than half a century was diverted to cover health-care expenses, says Amy Bronson, who recently retired from Chrysler LLC and is now working on a Ph.D. at Wayne State University in Detroit. Union members also paid more for health care and gave ground on work rules, which critics claim drive up operating costs...
...errant outbreak of swine flu at Fort Dix, New Jersey, caused scientists to worry about a possible pandemic, so President Gerald Ford announced that the federal government would vaccinate the entire U.S. population. Unfortunately, several hundred people developed Guillain-Barré syndrome, an illness characterized by nerve damage and paralysis, after receiving the vaccination. The Ford family tried to alleviate fears by televising their flu shots, and in the end 40 million Americans were vaccinated for a strand of influenza that only had a handful of documented cases of human infection. (Read "Does the Flu Vaccine Really Protect Kids...