Flash: GM (GM) and the UAW reach job agreement

The UAW told the media at a 4 AM press conference that it had reached an agreement with GM (NYSE:GM) on a four-year labor contract. The deal now goes to UAW members for a vote.

While the union did not give details, the pact is said to include a two-tier payment system and a new fund for healthcare payments that will be managed by the union.

Douglas A. McIntyre is a partner at 24/7 Wall St.

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