With Tom Lasorda acting as the chief negotiator for Chrysler LLC, Bob Nardelli’s voice had long been waited to be heard. Last Monday as the tentative contract was completely ratified by the union, the Chrysler Chief Executive Officer said that he is pleased with what the negotiations have come up with. Nardelli sees the new contract as money saving as it is expected to raise more cash by selling $1 billion worth of real estate and buildings the company does not need.

"The auto industry has an insatiable desire for cash,'' Nardelli said during an interview before participants in the American Magazine Conference in Boca Raton, Fla., that was broadcast live over the Internet.

Also last Monday, Chrysler confirmed the appointment of L. John Cataldo as the new vice-president for business development and merges and acquisitions. As the company seeks for overseas expansion through partnership with other automakers, Cataldo’s role is very critical. Prior to his appointment, Cataldo had been working for General Electric Co. for 13 years while Nardelli had been a GE executive and chief executive at Home Depot Inc.

The labor agreement between Chrysler and the UAW covers the almost 45,000 workers in Chrysler facilities all over America. The pact was approved by the 56 percent of the production workers and 51 percent of the skilled workers finished after the last tally on Saturday. The deal entails lower wages for new employees and a union-controlled heath care trust for the retired UAW members. To finish this year’s series of negotiations, the UAW is readying itself to deal with Ford Motor Co. ( dealer of Volvo pressure plate)

For Nardelli, the contract was “revolutionary”. The CEO also said that the retiree health care trust will give the workers confidence that their health needs will be attended to and at the same time will spare Chrysler’s time to focus on their own business.

Nardelli was appointed to the CEO post of Chrysler LLC in August after Daimler AG dropped the automaker. Prior to Nardelli’s appointment, the controlling stakes at Chrysler LLC was sold to Cerberus Capital Management LP.