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UAW Overwhelmingly Ratifies Chrysler Settlement

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Apr 29, 2009 9:37 pm US/Central

UAW Overwhelmingly Ratifies Chrysler Settlement

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WASHINGTON (AP) ― Members of the United Auto Workers have overwhelmingly ratified a settlement deal with Chrysler on Wednesday night.

The UAW says 82 percent of production workers and 80 percent of skilled-trades workers voted for the agreement in balloting that took place at UAW Chrysler locations throughout the U.S. Ninety percent of office and clerical workers and 94 percent of UAW-represented engineering workers voted in favor.

The agreement, which will take effect May 4, meets Treasury requirements for continued loans to Chrysler Corp., and includes commitments from Fiat to manufacture a new small car in one of Chrysler's U.S. facilities and to share key technology with Chrysler.

President Barack Obama said Wednesday night during his prime-time address that he is "very hopeful" that deals can be worked out to keep Chrysler a viable automaker, as negotiations with debtholders continued late Wednesday and Italian automaker Fiat Group SpA was poised to sign on as a Chrysler partner.

Obama said at an evening news conference that he is more hopeful than he was a month ago that Chrysler LLC will stay in business, but he declined to comment on details.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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