UAW, Chrysler and Fiat reach concession deal

[one...two...tree 2,762]

DETROIT -- The United Auto Workers union says it has reached a concession agreement with Chrysler, Fiat and the U.S. government.

The union says the deal is painful but takes advantage of the second chance the company was given by the Treasury Department.

The government rejected Chrysler's viability plan in February and said it could not stand on its own.

The union deal means the company has cleared another major hurdle as it races toward a Thursday deadline to restructure and sign an alliance with Italy's Fiat Group SpA.

http://www.latimes.com/business/la-na-uaw-...0,2299598.story

[I AM NOT THAT GUY 5,715]

The Canucks have already come to terms with labor there, and the UAW was the big hold-out in the US. Fiat may still nix the deal, since they want to make the deal on their terms, not what has already been negociated in the US and Canada.

This story will flesh out in the morning, once the European markets digest it overnight.

[NickD 203]

Wife owned two Fiats before buying a Toyota, told me they were constantly falling apart. Just sounds like Fiat and Chrysler should be a good match.

[Saddle Bronc 124]

Translation: UAW figured it was better to get 2% of a lousy deal (temporary extension) than 100% of immediate bankruptcy.

[Mr. Big Dog 10,747]

Is America ready for this?

[one...two...tree 2,762]

I don't think anyone in Texas would fit in that.

[fozzie 41]

I don't think anyone in Texas would fit in that.

The Hats would stick out the sunroof

[one...two...tree 2,762]

I don't think anyone in Texas would fit in that.

The Hats would stick out the sunroof

Their love handles would block the side view mirrors.