UAW Puts The Money Where Their Mouth Is, And Says We May Buy Chrysler

Add one more to the list of potential bidders for DaimlerChrysler AG's Chrysler Group.

The United Auto Workers is reviewing a long shot proposal from a group of Chrysler workers in Toledo who are pushing for employee ownership of the struggling automaker.

About 25 hourly workers calling themselves the "Employee Buyout Committee" are proposing that workers take a 70 percent stake in Chrysler with DaimlerChrysler retaining the remaining stake.

Michele Mauder, who works at Chrysler's Toledo Supplier Park, where the Jeep Wrangler is built, and is a member of the committee, said the workers believe employee ownership is the best option for Chrysler's 50,000 UAW workers.

"The bottom line is the corporation won't take the hit, it's the employees, the shareholders and the consumers," she said in an interview. "So we need to work as a team."


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indifferent - 4/20/2007 1:40:01 PM

+2 Boost

wouldnt that cause a conflict of interest? maybe this would be a way for Ford and GM to get the UAW off their back!!!

Agent009 - 4/20/2007 1:59:48 PM

+1 Boost

Southwest Airlines did this very thing, and now they are one of the most profitable airlines in the country.

Could make an interesting movie...

woood - 4/21/2007 4:33:11 AM

+2 Boost

If this happens, UAW in GM and Ford would be working at a conflict of interest. Its obvious that Chrysler has to make money otherwise the UAW would lose so in the process, they could sabotage GM and Ford. Unless, they also buy a controling stake at GM and Ford, which would level the playing field.

no1listensanyway - 4/20/2007 2:31:31 PM

+2 Boost

hmmm, Im not sure about this one, at this point it seems like Chryslers only hope. BTW, I had no idea that the UAW had this type of capital.

EnnNorak - 4/20/2007 5:04:02 PM

+1 Boost

I do not believe the UAW has the financial strength or ability to raise the capital needed to acquire Chrysler. Having said that, however, if they ever did find adequate financial backing, all those UAW members who used to behave badly by doing things like leaving screw drivers in convertible top mechanisms will suddenly become model workers producing only the highest quality cars with the sole motivation of protecting their investment, livelyhood, and health and retirement benefits.

neutral - 4/20/2007 6:21:10 PM

+1 Boost

This could possibly be a good thing. Now, the UAW won't negotiate with the company as if the company is the "big bad automaker". Instead, they ARE the company. What a way to clean up the unions, give them overall responsibility. Hehehe.

EL34 - 4/22/2007 1:06:37 AM

+2 Boost

"UAW Puts The Money Where Their Mouth Is, And Says We May Buy Chrysler"

If that ever happens it's for sure I will never buy a Chrysler in my life because I am anti-union to the core.

Rupert - 4/22/2007 7:31:40 PM

0 Boost

Are you a member of an Estate Agents'/Realtors' Union?

neutral - 4/24/2007 2:29:48 AM

+1 Boost

EL34, have you ever been on the other side of the tracks? Do you have any family members who've not been rich? I get sick of this cliche "oh the unions are screwing everything up" from people who've never had anything but a silver spoon in their mouths.

indoctrin8ed - 4/23/2007 9:08:24 PM

+1 Boost

If this happens, this will be David v Goliath in murder suicide form. I am in full support.