Chrysler union offers new rescue concessions
The United Automobile Workers has offered new concessions to the Chrysler Corporation in hopes of securing new federal aid the company needs to survive, a union official said. Union president Douglas Fraser declined to disclose details of what he called the union's "economic proposal." But when asked whether it involved making some "concessions," he replied, "That would be a fair summary."
According to Mr. Fraser, Chrysler has asked the union for $673 million in further concessions. He made clear the union's counteroffer is a figure somewhat less than that.