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The Ford and GM contracts cut wages for new hires and freeze pay for current workers. But the contracts also give them lump-sum payments to cover inflation and for ratifying the deal.

The companies had said Canada was the most expensive place in the world to make cars and trucks. The CAW represents about 21,000 auto workers in Canada and about 16 percent of auto production in North America.


Parking firms required to divest for merger

The Justice Department is requiring the two largest parking-management companies in the U.S. to sell 107 of their garages and lots in the central business districts of 28 cities in order to proceed with a merger.

If the deal is approved by a federal court, Chicago-based Standard Parking Corp. will acquire Central Parking Corp. of Nashville, Tenn., in a transaction valued at $345 million. Standard and Central each operates about 2,200 parking facilities.

Cities where the companies will sell some facilities include New York City, Chicago, Los Angeles, Houston and Philadelphia.

The Justice Department said that without the divestitures, the combined company would have gained a dominant market share, resulting in higher prices and reduced service to motorists.

From wire dispatches and staff reports