The United Auto Workers union said on Wednesday that it had reached a tentative labor agreement with Chrysler ending a strike against the automaker on the same day it began.
CNBC Auto Reporter Phil LeBeau joins the conversation. Following are excerpts from what was said.
Le Beau feels the union received a key concession from Chrysler in the "independent retiree healthcare trust." According to LeBeau, Chrysler and Cerberus are saying they will establish an independent trust which will be run by the UAW in the amount of $11 or $12 billion.
In the near term, LeBeau believes the deal reduces cash flow, significantly. But in the long term Lebeau thinks it’s quite positive.
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