The United Auto Workers (UAW) union is preparing to strike the "Big Three" automakers, Ford, GM and Chrysler, if contract agreements cannot be reached by Friday. The union is seeking a wage increase of up to 40% and improved benefits, and is willing to strike select facilities to disrupt production. Negotiations are now in a race against the clock to reach a deal before the deadline, and the union is prepared to take action if an agreement is not reached.