The CEO and management-team members visited the company's 11 plants to discuss the changes with rank-and-file workers.

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For now, rank-and-file workers are wary and hoping for the best, McIntosh said.

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The walkout won for the union the first 30-and-out retirement provision for rank-and-file workers, allowing full benefits after 30 years on the job no matter what the age.

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Company officials held a news conference this morning, but withheld most details of the contract until after rank-and-file workers get an opportunity to vote on it in the next week or so.

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Unfortunately, very few rank-and-file workers appreciate this fact.

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Several critics have pointed out that the deferred compensation proposal could have the effect of actually harming rank-and-file workers, such as those at startup companies, where deferred compensation is a common practice to make up for initially low salaries.

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Mr. Anderson, who worked at the retailer for 36 years since its early days as a stereo chain called Sound of Music, said Mr. Dunn's appointment as CEO in 2009 had been very popular with rank-and-file workers, who saw him as one of their own.

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But Gettelfinger also knows what rank-and-file members are willing to ratify: Only 59% of Ford workers ratified the concessions.

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An anti-union stance dramatically weakened the ability of rank and file workers to share in the wealth they were helping create as a consequence of increased productivity.

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