minx.cc - 4/29/2009
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This is really getting strange. Under a debt restructuring plan, the UAW is going to become a 55% stakeholder in Chrysler. The United Auto Workers union's retiree health-care fund will own 55 percent of Chrysler LLC in exchange for cutting...
slate.com - 4/30/2009
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slate.com —
Some conservatives are troubled that the UAW is
getting a huge ownership share in GM (about 40%)...
and Chrysler (over 50%): For example, Larry Kudlow : What is going on in this country? The government is about to take over GM in a ...
(more)
UAW as Owner: Let the Bosses Take the Losses!
online.wsj.com - 5/2/2009
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online.wsj.com —
PAUL INGRASSIA The latest developments in Washington's restructuring
of the auto industry amount to this irony: Having...
burdened the Detroit companies for decades with restrictive work rules, enormous health-care obligations and generous retiree ...
(more)
The UAW in the Driver's Seat
hotair.com - 4/28/2009
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hotair.com —
Imagine you’re one of the bondholders of GM,
the people who bought the automaker’s debt in order...
to invest in the company and keep it running over the last several years. Now that the company is near collapse, the Treasury offers you ...
(more)
UAW to get 39% of GM, Obama administration 50% …
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Chrysler to become UAW Motors
No Runny Eggs —
(H/T - DrewM., and I highly recommend reading the comments, at least if you are able to handle AoSHQ-standard NSFW language)
Bloomberg reports that the United Auto Workers are poised to accept a new contract that gives them a 55% stake in Chrysler, LLC. It also reports that Italy’s Fiat will initially get a 20% stake, which may increase to 35% if certain performance goals are hit, and that the Treasury Department will retain the other 10%.
The story, and others on the web, don’t mention where the 15% that may go to Fiat will be held ...
Chrysler Bankruptcy
Ace of Spades HQ —
... to ensure the survival of Chrysler and the well being of the companys employees, the government has risked overturning the rule of law and practices that have governed our world-leading bankruptcy code for decades. During his announcement of the plan Obama also kept talking up Chrysler and GM, two companies the government has major equity stakes in. Notably absent was any chat up for Ford, the automaker who didn't suck at the government tit. Not only does Ford now have to negotiate its labor deals with a competitor but it has to compete with the Car Salesman in Chief. The ...
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Today's Must-Read: Obama and the UAW
minx.cc 4/1/2009 — You've got to give this to Obama, he stays bought:The GM bailout has become a political operation run out of the White House. It will stay that way. Talk of UAW layoffs already disguises the fact that UAW workers are...
The UAW Has A Long Memory
slate.com 6/27/2009 — The U.A.W., now a major GM shareholder, has delivered its final punishment to those auto workers who dared move to Spring Hill, Tennessee and show up the rest of the union by building reliable car without Wagner-style work rules. GM's new ...
Welcome to UAW Motors
norunnyeggs.com 5/9/2009 — Bloomberg is reporting that the dissident senior creditors of Chrysler have caved and will not be fighting for anything more than the 29% that the Obama administration initially offered them. The quote of the day is from Tom Lauria, which was ...
UAW doesn't want Chysler stock
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UAW: Non-union workers get more!
slate.com 1/26/2009 — On Wednesday, UAW President Ron Gettlefinger predicted there would be no wage cuts as part of the union's concessions to GM and Chrysler. Gettlefinger argued Toyota's workers actually make $2-per-hour more than UAW workers, if you count bonuses. But ...
UAW Workers Actually Cost the Big Three Automakers $70 an Hour
heritage.org 12/9/2008 — Some observers argue that the $70/hour figure includes the cost of benefits paid to current retirees as well as wages and benefits paid to current workers and that the actual hourly earnings of current UAW members are much lower. This is a mistaken ...
How Can The UAW Continue To Represent Chrysler Workers?
rhymeswithright.mu.nu 5/2/2009 — After all, as the largest single owner of the company, that would appear to present a serious conflict of interest and would probably require the breach of the union's fiduciary duty to its employees and retirees AND/OR the management...
UAW Said to Get 55% Chrysler Ownership, Board Seats (Update1)
bloomberg.com 4/28/2009 — April 28 (Bloomberg) -- The United Auto Workers union’s retiree health-care fund will own 55 percent of Chrysler LLC in exchange for cutting in half the automaker’s $10.6 billion cash obligation to the trust, people familiar with the matter said. ...
UAW/GM bailout question for the day
tigerhawk.blogspot.com 5/28/2009 — So, on arriving back to the parking garage at the Trenton train station, I noted that a douchebag had parked so close to my car that I could not open the door. And not because I'm fat. Behold, the douchebag's car:Fortunately, I am limber enough to get ...
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