I heard Fiat is willing to take over any car company that has all of its debt wiped out in bankruptcy and is given to it for free.
I wonder if UAW ownership will make the labor situation better or worse. And I've read that FIAT has been in trouble. Heck, why not buy a US company and get in line for any future bailouts? This strikes me as a "mozard hazard" play. They are buying a company that won't be allowed to fail.
That's going to be the most fascinating thing to watch here. I can't think of another union that has a direct vested interest in the management side of the operation of a company. It will also be interesting in that Chrysler is a competitor to GM and Ford. Does the UAW negotiate more favorable deals for Chrysler to help itself and hurt it's competition? All sorts of potential conflicts of intrest. Certainly very well could be true. I know nothing about Fiat, really. I think they are also trying to buy some of GM's European operations as well.
Yeah should be real interesting. One thing to note is that the shares will be owned by a trust fund and voted on by independent trustees. Not sure how "independent" they can really be, but we'll see. Who are these trustees anyways? This article makes it look not so positve for labor: http://www.bloomberg.com/apps/news?pid=20601087&sid=ashM7Ku7j3ZQ&refer=home Heck, maybe the US wont bail them out anymore now that it's not a US company anymore.
