Unifor has chosen the Ford Motor Company of Canada Ltd. as the target for negotiations as the union looks to work out new contracts for autoworkers.
“I was encouraged by Ford Motor Company’s transparency with our union on product programs and business plans,” Unifor president Lana Payne said during a news conference in Toronto on Tuesday afternoon.
Unifor and the Detroit Three automakers — Ford, Stellantis and General Motors — engage in pattern bargaining, where a deal with the target company will set the template for agreements with other two.
Across the three companies, Unifor represents more than 19,600 autoworkers.
Payne suggested on Aug. 10 at the kickoff of talks that Ford would likely be the choice because of co-operation Ford had already shown. She said progress has already been made at the subcommittee levels since talks began in earnest on Aug. 22.
Payne repeated four main priorities for the union during these negotiations: pensions, wage improvements, investments and supports for the transition to producing electric vehicles.
In a statement, Ford Canada’s vice-president of human resources, Steven Majer, said Ford and Unifor have a long history of “productive collaboration.”
“At Ford, we are committed to finding new approaches, new solutions and the flexibility required to be successful in the short and long term in Canada,” he said. “We look forward to working together with Unifor to create a blueprint that leads our employees, our business, our customers and our communities into the future.”
Bargaining comes this time while the United Auto Workers (UAW) is also negotiating deals in the U.S. and analysts are predicting strikes at all Detroit Three automakers.
Tallying the costs of striking
Patrick Anderson, chief executive officer of Anderson Economic Group, a consulting firm that does work in the auto industry, predicts a 10-day strike at all three of the Detroit automakers would cost the companies and workers $5.6 billion US.
He said it would also affect Canada.
“It’s a serious interest to people who are in Ontario and Michigan, Ohio, Indiana, and it is something that won’t stay on one side of the border,” said Anderson.
Over the weekend, autoworkers in Ontario voted 99 per cent in favour of striking.
Unifor bargaining teams for GM and Stellantis will now go home, while the Ford bargaining team, chaired by Local 200 president John D’Agnolo, will continue talks in Toronto.
D’Agnolo was pleased with the announcement and said he will collaborate with Stellantis chair James Stewart and GM chair Jason Gale every day during the negotiations.
Both Gale and Stewart offered their support and congratulations to the Ford committee.
“I’m looking forward to it. We have a great team led by Lana and the national staff … and I can’t wait to get at it,” said D’Agnolo.
TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.
The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.
The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.
The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.
Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.
Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.
This report by The Canadian Press was first published Nov. 6, 2024.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
