Chrysler workers are walking off the job across the United States for the first time in a decade. The strike follows stalled contract talks between the United Auto Workers union and Chrysler.
And like GM, the standoff between Chrysler and the UAW involves job security and health care. The automaker wants the union to take over health care by using a trust, but there is a dispute about how much money Chrysler should put in to the fund.
The strike also raises questions about Chrysler's new owner Cerberus Capital Management LP, which is already involved in its own major turnaround. For now, Chrysler is positioned to weather the strike for a couple weeks due to low demand for many of its products.
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