Today we reached a tentative agreement with Ford. For months we've said that record profits mean record contracts and UAW family, our stand up strike has delivered. [00:00:16] >> Speaker 2: The United Auto Workers Union and Ford have reached a tentative agreement that will end a nearly six week strike at the automaker the union announced announced Wednesday night. So a little more on that from CNBC. The tentative deal, which was first reported earlier by CNBC, [00:00:32] includes 25% pay increases over the terms of the agreement and will cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour. It also includes reinstatement of cost of living adjustments, [00:00:49] a three year path to top wages, and right to strike over plant closures, among other significantly enhanced benefits. So the union said gains in the deal are valid at more than four times the gains from the 2019 contract and provide more in base wage [00:01:05] increases than Ford workers have received in the past 22 years. I have been following this and I couldn't believe it when I heard that number. More than they've ever received in 22 years. So is the strike over at Ford? [00:01:22] Yes and no. The tentative deal still must be approved by local UAW leaders and then ratified by a simple majority of Ford's 57,000 union represented workers. The union will hold informational meetings as well as an online briefing to discuss [00:01:37] specific on the agreement, which will be posted online with summaries. But auto workers who are currently on strike with Ford will return to work while the union's approval and voting process occurs, according to the UAW Vice President Chuck Browning. [00:01:52] And here is him explaining why that is. >> Speaker 4: Like everything we've done in this stand up strike, this is a strategic move to get the best deal possible. We're going back to work at Ford to keep the pressure on Stellates and GM. [00:02:12] The last thing they want is for Ford to get back to full capacity while they mess around and lag behind. Members will be receiving further instructions on the process for returning to work soon. [00:02:27] >> Speaker 2: Just a little more from CNBC. Ford in a statement said that it was, quote, pleased to have reached a tentative agreement. The company is now focused on restarting production at the Kentucky Truck plant, the Michigan Assembly plant, and the Chicago Assembly plant where [00:02:43] the union initiated walkouts of roughly 16,600 workers. Now Fain talked a bit about what's next and what brought this deal from Ford. >> Speaker 1: On Monday, we called on our UAW family at Sterling Heights Assembly [00:02:59] to stand up that is Stalinist' biggest and most profitable plant. On Tuesday, our UAW family at Arlington Assembly answered the call and they went out on strike, shutting down GM's biggest and most profitable plant. [00:03:17] Ford knew what was coming for them on Wednesday if we didn't get a deal, that was checkmate. >> Speaker 2: So the UAW is still negotiating with GM and Stalantis, but sharon, this feels like very good news for those UAW represented workers at Ford. [00:03:36] >> Speaker 3: That does and I don't know if it just feels this way or it really is happening, but there's this wave across several industries where workers have taken back the momentum and they're sort of kind of winning. And it reminds me of the last story we did about commitment and resolve and [00:03:52] sticking together and saying, I don't care about your math, I don't care about your version of the economy. We can't make it this way and we just deserve more. We're doing all the work and you're taking all the profits and it's still not enough. You're so greedy. [00:04:08] So listen, the others, will they'll go as well. They'll fall as well and they'll make a deal and workers will be better off for it. [MUSIC]