This is pretty astounding. Mexico's auto unions agree to cut wages:

Wage concessions were apparently key to persuading Ford Motor Co. to direct many of the 4,500 new jobs involved in building Fiestas to the Ford plant in Cuautitlan, on the outskirts of Mexico City. Union leaders at the plant told The Associated Press they had agreed to cut wages for new hires to about half of the current wage of $4.50 per hour.

"We agreed to it," said Ford union leader Juan Jose Sosa Arreola. "We need to be more competitive. That's the truth. That's a reality."