UAW Leaders Recommend Approval of Chrysler Deal

By: Associated Press Email
By: Associated Press Email

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United Auto Workers President Ron Gettelfinger says the union's factory-level leaders voted unanimously Monday night to recommend that members approve concessions designed to keep Chrysler LLC out of bankruptcy.

Union leaders say ratification votes across the nation should be finished by Wednesday. That's one day before Chrysler's government-imposed deadline to restructure or the government will end all aid to the struggling company.

Chrysler is living on $4 billion in U.S. government loans and must win concessions from its unions, swap equity for debt and ink a partnership deal with Fiat.

Without the deals, Chrysler almost certainly will be auctioned off in pieces.

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