Business: Peace at a Sound Price

After five months of trying to get "the biggest package ever," United Auto Workers' President Walter Reuther last week settled with Ford for far less. He got just about what Ford—and the other carmakers—offered back in April. Reuther joined with Ford Vice President and Chief Negotiator John Bugas to announce "a sound and equitable agreement ... a three-year contract .. . fair to the workers, the company and the American public."

General Motors and Chrysler were pleased that Reuther had settled so modestly; they hope to settle on about the same terms. Washington was relieved: the contract promised to bring three...

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