Chrysler Secures Labor Deals As Bankruptcy Looms

Law360 (April 27, 2009, 12:00 AM EDT) -- In a move that may help it steer clear of a bankruptcy filing, Chrysler LLC has struck labor agreements with unions in the U.S. and Canada.

The Auburn Hills, Mich.-based automaker entered into a tentative concessionary deal with the United Auto Workers union hours after winning ratification of a cost-cutting agreement with members of the Canadian Auto Workers on Sunday.

However, before Chrysler is able to receive $6 billion in extra loans from the U.S. government, it needs to reach a partnership pact with Fiat Group...
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