- New York (CNN Business)Auto workers at Fiat Chrysler have ratified a new four-year contract, closing the door on the possibility of another strike like the one that shut down rival General Motors for six weeks.
- Fiat Chrysler (FCAU) made far greater use of those relatively new hires and their lower pay scale than its rivals did, giving the company a competitive cost advantage over GM (GM) and Ford (F).
- The 40-day walkout at GM earlier this fall cost the automaker an estimated $2.9 billion, but despite inflicting those costs on GM the strikers did not convince the automaker to drop plans to close three US factories.