| GM, Chrysler extend UAW contracts after talks slow and GM, Chrysler Extend Contracts With UAW |
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DETROIT (Reuters) - General Motors Co and Chrysler Group LLC agreed to extend labor contracts with the United Auto Workers on Thursday as the union's negotiations failed to produce the expected breakthrough on pay for 113,000 autoworkers.The contract extensions followed a similar agreement at Ford Motor Co on Tuesday. The UAW's contracts with all three automakers expired just before midnight on Wednesday.The talks between the UAW and the Detroit automakers have been watched as an indicator of how much the industry has changed since its near collapse two years ago.Expectations lingered that the UAW would have reached a tentative deal with at least one of the three U.S. automakers by the expiration of the current, four-year pacts."It always seems to go down to the wire. It's a game," said Roy Fetzer, 52, a production worker at GM's truck plant in Flint, Michigan.The UAW has made GM its priority. [Read the full article] General Motors and Chrysler agreed to extend labor contracts with the United Auto Workers on Thursday as the union's negotiations failed to produce the expected breakthrough on pay for 113,000 autoworkers. The contract extensions followed a similar agreement at Ford Motor [ F 10.535 +0.215 (+2.08%) ] on Tuesday. The UAW's contracts with all three automakers expired just before midnight on Wednesday. The talks between the UAW and the Detroit automakers have been watched as an indicator of how much the industry has changed since its near collapse two years ago. Expectations lingered that the UAW would have reached a tentative deal with at least one of the three U.S. automakers by the expiration of the current, four-year pacts. "It always seems to go down to the wire. It's a game," said Roy Fetzer, 52, a production worker at GM's truck plant in Flint, Michigan. The UAW has made GM [ GM 22.6399 +0.4599 (+2.07%) ] its priority. [Read the full article] Search by Industry or Topic The day ahead. Biggest news of the morning: the shock announcement from UBS that a rogue trader lost $2 billion. UBS shares dived, but European markets are buoyant because Germany and France say Greece won’t withdraw from the euro. Talks extended. Detroit Three and the UAW extended their talks past deadline, which is better than a collapse but disappointing given the idea going into negotiations was to wrap things up quickly. No major sticking points, just job security, pensions and benefits. Economic data. Weekly jobless claims: expected at about 400,000 as usual, but they’ve been coming in a little high lately. CPI for August: economists expect a slight increase. Empire State manufacturing index for September: should be higher than August’s dismal number. Ditto the Philly Fed. Also, the Fed releases industrial production and capacity utilization for August: Economists think production rose less than in July and capacity held steady. [Read the full article] 
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