Hamilton Sundstrand Workers Approve Deal (avoid midnight strike)

[Omaha Steve]

Source: Associated Press

Hamilton Sundstrand Workers Approve Deal
Associated Press 05.06.07, 5:29 PM ET

Machinists at Hamilton Sundstrand approved a new three-year labor contract Sunday, avoiding the first strike at the aerospace manufacturer in 47 years.

About 800 of the over 1,100 unionized workers showed up for the ratification vote, and 94 percent approved the deal, said James Parent, a representative of District Lodge 26 of the International Association of Machinists.

Had workers rejected the contract, they would have gone on strike at midnight Sunday, the union said.

The deal includes annual raises of 3.5 percent, increases to the pension plan, and a $3,000 signing bonus, which the company agreed to match at 50 percent if the money is put in an employee savings plan, Parent said.

Read more: http://www.forbes.com/feeds/ap/2007/05/06/ap3690720.html