Ford Motor Co. F -3.31% said Tuesday it signed a tentative, four-year labor agreement with the United Auto Workers union. The new deal, once ratified, calls for 12,000 new hourly jobs to be added in the U.S. by 2015, and includes work once outsourced to Mexico, Japan and China. That estimate is nearly double Ford's previous outlook, and also included $16 billion in U.S. investments to design, engineer and produce more new and upgraded vehicles and components.
With the above being both the good news and the bad news, I will elaborate. Tentative agreement at best, we are a long way from 2015. With a second (continued) recession upon us, I do not see the unemployment situation getting better anytime soon and people still will put off buying cars and trucks to feed their families. Our one hope will be those in the union will pay the extra dollars that will be added to the cost of Ford vehicles and not buy those less expensive vehicles made by foreign countries and by cheaper labor.