News In Brief
Chrysler seeks settlement with union local in Ohio
Negotiators for the Chrysler Corporation and a local of the United Automobile Workers in Twinsburg, Ohio, continued talks to end a small but crippling strike that threatens to shut down the No. 3 automaker and jeopardize its financial
Unionists at the Ohio plant said the key issues involved mandatory overtime, job assignments, and safety rules. As parts stockpiles dwindled, four assembly plants shut down and two others were scheduled to close by this weekend. As many as 38,900 nonstrikers face job uncertainty.
Lee Iacocca, Chrysler chairman, said he was ''confident'' a settlement could be reached quickly. UAW officials in Twinsburg said any settlement would have to include concessions on the disputed issues, but that such concessions would not be too costly for the company.
Unless the walkout ends quickly, Chrysler's losses could mount to $40 million a day. Before the strike, the company, which was on the brink of bankruptcy several years ago, was anticipating a $100.2 million profit this year.