Arab Today, arab today settles economy fragile as uaw votes
Last Updated : GMT 12:04:57
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Settles: Economy fragile as UAW votes

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Arab Today, arab today Settles: Economy fragile as UAW votes

Detroit - UPI

United Auto Workers Vice President Jimmy Settles said a ratified contract with Ford Motor Co. would add U.S. jobs in a \"fragile\" economy. UAW workers are voting on a Ford contract this week, the Detroit Free Press reported Monday. The contract secures $1.3 billion in company investments in U.S. operations and a company commitment to add 12,000 jobs. \"I think we did something for society and for the communities were we represent workers. We are bringing back 12,000 jobs, the majority of them in the state (of Michigan),\" Settles said. \"We know how fragile everything is and if there is a recession again … (Ford) might be back … borrowing money and/or doing whatever they have to do to survive.\" Although Ford has made more in profits than General Motors and Chrysler since 2009 and was the sole U.S. car company among the Big Three not to require taxpayer assistance during the recession, the numbers are shifting. In the first six months of 2011, GM made $5.1 billion in profits before taxes while Ford made $3.8 billion, the newspaper said. In addition, as of June 30, Ford\'s debt topped $14 billion while GM\'s was at $4.7 billion. And, the Free Press noted, GM\'s Chevrolet Cruze outsold Ford\'s Focus by 50,000 cars January through September.

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