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UAW OKs Contract With DaimlerChrysler

September 27, 2003|From Associated Press

The United Auto Workers ratified a four-year labor contract with DaimlerChrysler, the first rank-and-file endorsement of the pacts reached last week by union leaders and the Big Three automakers.

UAW spokesman Roger Kerson said ratification vote results for General Motors Corp. and Ford Motor Co. were expected next week.

The DaimlerChrysler contract covers more than 60,000 UAW workers at the automaker, as well as more than 57,000 retirees and an additional 17,500 surviving spouses of retired workers.

The UAW announced its tentative pact with DaimlerChrysler shortly after the 1999 contract expired at midnight Sept. 14.

In trading on the NYSE, DaimlerChrysler shares fell 62 cents to close at $35.04, GM shares lost 35 cents to $40.44 and Ford shares fell 15 cents to $11.

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