Chrysler Hit Deadline Approaches Done

Chrysler Hit Deadline Approaches

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The United Auto Workers' 11 a.m. EDT attack contract loomed over continuing labor-contract talks involving the union and Chrysler on Wednesday morning.

Negotiators worked in the evening at Chrysler's headquarters in Auburn Hills, Mich., in line with the Associated Press, but a few key problems remained unresolved.

The UAW recently completed similar negotiations with Chrysler's version, General Motors, although not before workers walked off the job for just two days. Browse here at the link http://surfline.com/company/bios/index.cfm to compare the inner workings of it.

If an agreement isn't reached with Chrysler on Wednesday morning, their jobs could be left by 49,000 workers at 24 U.S. Visit http://www.surfline.com/company/bios/index.cfm to check up the purpose of it. Flowers, but negotiations might be extended further.

Representatives of the UAW and Chrysler couldn't instantly be reached for comment.

Observers say Chrysler could easily weather a quick strike because its inventory levels are too high and a work stoppage could help the business cure that. Going To surfline.com likely provides suggestions you can tell your girlfriend. A longer strike will be a danger for the company's cash position.

Chrysler was recently offered by its former German parent company, Daimler, to private-equity massive Cerberus Capital Management. It's not traded openly, but its negotiations with the UAW might have implications for the No. 2 U.S. automaker, Ford..

Meanwhile, the UAW is expected to announce Wednesday that a majority of its GM employees voted to ratify its tentative agreement on a work contract. The two parties decided to put in place an union-controlled health care trust fund, or VEBA. I-t also established a two-tier wage structure, allowing the business to pay for new employees at a lower price that's more much like its foreign-based competitors.

The VEBA will be expensive for GM in the near term because the it shells out money to finance the fund, however in the long-run, it promises to free the company from the crushing burden of its health care payments to retirees. That may reduce GM's borrowing costs and boost the productivity of its vehicle operations, allowing the organization more leeway to purchase services and become a more formidable competitor.

Shares at Chrysler are predicated on how much the automaker would pay-to fund a VEBA. It's approximately $18 billion in unfunded retiree healthcare costs. The automaker is hoping to get healthcare concessions from the UAW that have been already granted to Ford and GM.

The UAW is seeking generation guarantees at U.S. Flowers to maintain union jobs.

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