GM, UAW reach accord

The United Auto Workers said today it has reached a tentative agreement with General Motors Corp. and federal officials to modify its labor contract with the automaker, removing a major hurdle to GM’s government-mandated restructuring. The UAW did not release details of the agreement because it has not been ratified by its members at GM. The union said it was in the process of scheduling a ratification vote. The “tentative understanding” contains modifications to the UAW’s labor deal and GM’s obligations to fund a trust to pay retiree healthcare benefits, the union said. – From LA Times