BRIEFLY / AUTOS : Ford, CAW Resolve Issues, Avert Strike

Negotiators with the Canadian Auto Workers union and Ford Motor Co. reached a tentative agreement on a three-year contract, averting a possible strike. The contract calls for a raise of 4.5% a year with a one-time signing bonus of $678 (U.S.), CAW President Buzz Hargrove said. The average Canadian line worker at Ford earns a base wage of about $16 an hour and skilled workers earn $19. Similar workers in the U.S. earn $20.71 and $24.38 an hour, respectively. The contract also calls for basic pension benefits to be increased 25% in the next six years, Hargrove said. The three-year contract covers 13,000 workers, who are scheduled to vote on the contract this weekend. Shares of Dearborn, Mich.-based Ford fell $1.06 to close at $48.88 on the NYSE.