Ford Motor Co. says modifications to its existing labor contract with the United Auto Workers union will bring its hourly wage rate in line with transplant auto makers within two years, and expectations are General Motors Corp. booked similar concessions last night. Joe Hinrichs, Ford group vice president-global manufacturing and labor affairs, says the revised labor contract takes the auto maker’s all-in wage rate down to roughly $55 an hour, making it more competitive with an estimated ...

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