1. Labor

    UAW Ratifies GM Pact

    FLINT, MI - JULY 18:  Workers assemble General Motors trucks at the GM Flint Assembly Plant July 18, 2011 in Flint, Michigan. GM announced they will be investing $328 million in the plant to support the production of the next-generation full-size pickups, a move that will create or retain 150 jobs.  (Photo by Bill Pugliano/Getty Images)

    Bill Pugliano / Getty Images

    General Motors and the United Auto Workers union have come to a new four-year labor agreement, the first since the company filed for bankruptcy in 2009. The deal gives each worker at least $11,500 in bonuses over four years and promises wage increases for entry-level workers by 2013. It is expected to preserve or add 6,400 U.S. jobs. The UAW is using the GM agreement as a basis for its negotiations with Ford and Chrysler, which are still ongoing. GM and Chrysler workers gave up their right to strike over wage and benefit issues as part of the 2009 bankruptcy agreement.

    Read it at Detroit Free Press