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The strike by the United Auto Workers union against Chrysler may be shorter than the two-day strike against General Motors (GM), as sources from both organizations have confirmed a tentative agreement on a new labor deal has been reached.

Only an hour after the Chrysler workers walked off the job, negotiators evidently came to an agreement.

While most details of the deal aren't available, the one thing that is known is part of the agreement will inlude a similar deal as came with the GM deal, where health-care expenses will be shifted to a voluntary employee benefits association, otherwise called VEBA.

With an oversupply of new vehicles in the company's inventory, they had enough available to last for 71 days.

The company is already planning to shut down five assembly plants and some parts-making factories to cut back on the inventory.

I wonder how close to the GM contract this will be, as Chrysler had, in my estimation, a stronger position than GM by virtue of being taken private recently by private-equity firm Cerberus Capital Management.