What does everyone think of this:
The United Auto Workers union will own 55% of a restructured Chrysler LLC and its retiree health care trust will get a seat on the board if union members vote to approve contract concessions this week.
Chrysler stock could even be traded publicly again, as there are mechanisms for the UAW to sell shares to fund the health care trust.
Factory-level union leaders voted unanimously Monday night to recommend approval of concessions that union President Ron Gettelfinger said would help keep the automaker out of bankruptcy.
Are there any other union owned organizations out there like this? The only thing I have ever heard of like this was the case of Weirton Steel, a local steel operation when I was growing up that some way or another was purchased by the employees in the 1980’s, saving it from bankruptcy.
Also, what is the general consensus regarding the Chrysler brand? A number of you in the thread the other day talked about how Chrysler is dragging Jeep down, so it would seem that Chrysler has many issues. I know that my father will never own another Chrysler after a lemon in the 70’s (this really horrid brown station wagon that never, ever worked), but personally, I really liked the look and feel of their 300 series in either the late 90’s or early 2000’s. I had to drive my friends car from West Virginia to Dallas (he was in the U-Haul towing car #2 and his pregnant wife flew), and I really enjoyed the experience. I liked the look of the dash and the interior, it seemed to have plenty of power (remember, I was driving an 83 Celebrity at the time so my opinion may be skewed), and handled really well.