Chrysler and Fiat Form Partnership

Chrysler has entered into an alliance with Fiat. This will give the opportunity for both companies to access each others products and markets. Everyone is on board at Chrysler from the CEOs, Marchionne and Nardelli to the UAW. Fiat will receive 35 percent equity interest in Chrysler.

"This is great news for the UAW Chrysler team and we look forward to supporting and working with them to ensure Chrysler's long term viability," said Ron Gettelfinger, President United Auto Workers (UAW).

"We're on board with this important strategic initiative as it will help preserve the long-term viability of our great company, its brands and of course UAW-Chrysler jobs," said General Holiefield, Vice President, United Auto Workers (UAW).