Posted on 04/27/2009 5:51:59 PM PDT by MV=PY
By ALEX P. KELLOGG STERLING HEIGHTS, Mich. -- The United Auto Workers union would eventually own 55% of the stock in a restructured Chrysler LLC under the deal reached by the union and the auto maker, according to a summary of the agreement that was reviewed by the Wall Street Journal.
(Excerpt) Read more at online.wsj.com ...
Well said!
Interesting scenario when the UAW tells all its “Members”
their 40lK plan is vested in Chrysler stock and their benefits will be managed by the Government.
Too bad for St. Louis. The Fenton Plant has finally, IMHO, met its demise. Guess the Gephardt, Slay, Banks and Clay clans have at last given the Gateway to the West its final economic blow to a once great community.
Big difference between producing something for a profit and a service oriented business.
The UAW now has to eat its own dog food. If this new Chrysler does well, I would not be inherently biased against it, while shopping for a product on its own merit.
I wonder if they will still act like a cancer on the company as owners, my guess is they will— because that’s what they are.
Oh my God! How inhuman! Overtime after you are FORCED, forced mind you, to work 40 hours! And no more Easter Monday's (what is Easter Monday ... I thought Easter was on a Sunday ... and I have NEVER had the Monday off after Easter).
The horrors!
(do I need the /sarc tag ... really).
Hmmm, I think being in an undistorted economic situation teaches a lesson.
“Get ready for the police state with people being carted off.
This is Cuba.”
Too many Americans are armed right now for that to happen this soon. They have to build up to it first. Right now the civil war would be long and bloody. They want a peaceful, if possible, take over.
Probably still get Good Friday.
UAW Would Own 55% of Chrysler Stock Under Deal
. . . thereby becoming a company union.
Make the union leader salaries a function of profit and watch the union collapse.
Geez, 55% would allow them enough clout to kill the golden goose.
I remember Easter vacation, we had Good Friday and Easter Monday off in the public schools in North Dakota.
I think my parents had the day off too.
All the Union bosses will be buying them like they are going out of style.
>> Does the UAW think it can run a car company?
Don’t know if they think they can RUN one — but I bet they think they can do a pretty good job of LOOTING one. Especially one on gubmint life support.
Well, they can’t loot it anymore. There’s nothing there. Unless of course the plan is to have the federal government subsidize the auto companies (and by extension, the UAW) in perpetuity.
So true. I laugh and almost cry when this scum demonizes management or white collar workers. Trying to build something people want, that is reliable, that holds up, is safe, et etc etc is very difficult.
Chrysler was not building very good cars before so they will be even worse. Competing against Toyota or Honda or even Ford - forget it.
The workers will goof off and will be accountable to no one.
Means of production - yup the place will be stripped clean.
The whole thing would die in 3 days if it wasn’t for taxpayer money.
What will that stock be worth?
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