Peace and an Olympic bid set the stage for an unprecedented labor contract in Chicago. Jesse Russell reports:

By Jesse Russell

Chicago Mayor Richard Daley has had a stormy relationship with the city's 33 trade unions, representing more than 8000 workers. On Tuesday, Daley offered an olive branch in the form of a 10-year contract. The contract comes as the city seeks ways to position itself as a contender for the 2016 Olympic Games. Under the new contract, trade workers including plumbers and electricians will continue to receive current benefits, will lock in the prevailing wage, and will cap health care costs at 8 percent per year. The city will seek to encourage workers who engage in high risk lifestyles to make changes to bring down costs – those changes include losing weight, and lowering blood pressure and cholesterol. In return the unions have agreed to enroll 100 graduates from Chicago public schools into their apprenticeship programs.