UAW Said to Get 55% Chrysler Ownership, Board Seats
then I guess my next car (if there is a next car) is going to be that Nissan Altima I’m in lust with, after all.
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.
Yep; GM and Chrysler aren’t car manufacturers anymore. They’re pension funds with car-manufacturing subsidaries. My only consolation is that all you union folk are about to get pwned by your lying sack of shit president, just like the rest of us.
I always thought the unions should put up or shut up. I mean, the purpose of the union is to hinder the business as much as possible, and dribble a bit of the rakeoff to union members.
Since the Unions claim, instead, to be “good for business” I have thought for years – they ought to just go into business, and stop leeching off “the oppressors”.
It is a wonder that unions weren’t the immediate target of McCarthy’s anti-Communist witch hunts. Their “redistribute the wealth” (that is, let me suck off what you have) philosophy sure fits with POTUS Barack Hussein Obama.
Time will tell.
I’ll take Brad’s point to its logical conclusion. If the problem at the Big 3 is all management’s fault, why doesn’t the union use its pension fund assets to buy and bail out the Big 3 itself?
Well, then they’d be car companies that happen to offer pensions rather than pension funds that happen to offer cars. Either way, the unions would still be involved, and the cars would still be overpriced crap.
And also either way, I’m done buying American cars unless and until they straighten out their act. That would include booting the unions, getting rid of the pension funds as they currently exist, and acting fiscally responsible and responsive to their customers for a change.
BTW, via Tam, Chrysler will be filing for Chapter 11, probably later this afternoon.