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bloomberg.com - 4/28/2009

UAW Said to Get 55% Chrysler Ownership, Board Seats (Update1)

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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. Under the terms of the contract, the trust would ...

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rasmussenreports.com - 5/4/2009

Only 18% Say UAW, Government Will Do Good Job Running GM, Chrysler

— rasmussenreports.com — Just 18% of Americans think the United Auto Workers union and the federal government will do a... good job running Chrysler and General Motors, according to a new Rasmussen Reports national telephone survey. Forty-seven percent (47%) believe the union ... (more) Only 18% Say UAW, Government Will Do Good Job Running ...

General David Petraeus

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usatoday.com - 4/28/2009

Chrysler latest: Union eyes majority ownership

— usatoday.com — 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 ... (more) Chrysler latest: Union eyes majority ownership

Soviet Union

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bloomberg.com - 4/29/2009

Chrysler Will File for Bankruptcy, Official Says (Update1)

— bloomberg.com — By Roger Runningen, Mike Ramsey and Christopher Scinta April 30 (Bloomberg) -- Chrysler LLC will proceed today... with a Chapter 11 bankruptcy filing to reorganize into a more viable carmaker, an Obama administration official said. The official, who ... (more) Chrysler Will File for Bankruptcy, Official Says (Update1)

White House

Barack Obama

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UAW Will Own 55% of Chrysler
Little Green Footballs — The United Auto Workers union will now own the largest share of Chrysler LLC, as the auto industry meltdown begins to get seriously loony: UAW Said to Get 55% Chrysler Ownership, Board Seats. Anyone over there ever heard of a “conflict of interest?” 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. Under the terms of the contract, the trust would get representation on the company’s board of ...

The UAW Is About To Become One Of The Biggest Automakers
Ace of Spades HQ — The UAW Is About To Become One Of The Biggest Automakers 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 in half the automaker’s $10.6 billion cash obligation to the trust, people familiar with the matter said. ...Instead of contributing $8.8 billion to a retiree health- care trust, Chrysler will give the union trust shares of the company and a promissory note for $4.59 billion that ...