Union OK's new contract with Chrysler

By the Associated Press | October 26, 2011 | 4:45 PM EDT

DETROIT (AP) — The United Auto Workers union is approving a new four-year labor contract with Chrysler.

Factory workers voted for the deal, but skilled trades workers such as electricians and pipe-fitters voted against it.

The union says its executive board decided Wednesday afternoon that the contract has been ratified.

Overall about 55 percent of Chrysler's 26,000 union workers voted for the pact, and 45 percent were against it.

The approval means that all three Detroit automakers have signed deals with the union. Most workers at Chrysler, Ford and General Motors won't get pay raises. But they'll get signing bonuses, profit sharing and other payments.

The Chrysler deal includes a $3,500 signing bonus and profit-sharing, but it's not as rich as contracts at Ford and GM.