The UAW’s Voluntary Employees’ Beneficiary Association may have been allotted a majority stake in the new-look Chrysler, but a new report reveals the UAW’s 55 percent stake won’t necessarily translate into a controlling share of Chrysler.
Two inside sources revealed to The Detroit News that the UAW’s 55 percent stake in Chrysler will not grant the union voting rights over the company. Based the type of stock issued to the VEBA retiree fund, the UAW is not automatically entitled to a majority control.
“Equity stake doesn’t translate into voting control,” Harley Shaiken, labor professor at the University of California Berkeley, told The Detroit News.
Although Fiat was only granted a 20 percent stake in Chrysler, its voice will likely be much louder than that of the UAW’s. Moreover, Fiat’s influence will likely grow in the coming years, with the Italian automaker planning to eventually take a 35 percent stake in Chrysler.
04/30, 6:36 PM
posted by:
1c3d0g
Thank Jesus. The last thing we need is the d@mned UAW f*cking up the new company…
04/30, 6:51 PM
posted by:
Mutant@DCX
UAW has always controlled Chrysler!
04/30, 7:36 PM
posted by:
wbent
BS
04/30, 9:14 PM
posted by:
johnnycanuck
I think I’m going to have to start watching cricket. Even it has to be easier to understand than all this.
04/30, 9:43 PM
posted by:
BuyUSA
^^^^^That picture of the Challenger above is one reason why Chrysler MUST stay alive.
04/30, 11:36 PM
posted by:
Veda
An Italian styled Challenger would be better… appeal to more people.
04/30, 11:51 PM
posted by:
Impulsive
‘BuyUSA’, I totally agree.
Who was it in the other thread that thought these clowns WOULD have majority control? I told you to do your homework … there’s a test tomorrow.
05/01, 12:50 AM
posted by:
JakeK66
JohnnyC,
I say it’s more of a Rugby game since it’s bloody and no one is wearing protection.
05/01, 2:08 AM
posted by:
F50
I totally agree with BuyUSA and Impulsive, the Challenger is a great car. and its definitely one of the best current Chrysler products.
Veda- Maybe an Italian styled Dodge Circuit EV?
05/01, 6:47 AM
posted by:
carstuff
No doubt any Chrysler car/CUV smaller than midsize will be Fiat based soon.
My question is will the 200 midsized be based on a Chrysler or Fiat platform. Gee, now I have to learn about Fiats platforms over seas!!! What is the biggest car they build? Guess it will also depend if they want it to be RWD or FWD. My guess is that it has to be FWD and let the 300 platform stay as RWD since there will be no other domestic vehicles that are RWD except for Cadillacs and very few imports?
05/01, 7:04 AM
posted by:
carstuff
I should add affordable RWD vehicles
05/01, 7:11 AM
posted by:
carstuff
Looks like Fiats widest car is skinier than a 3 series so most likely the midsize platform would come from Chrysler, perhaps with Fiat bits.
05/01, 9:45 AM
posted by:
Borat
This is oxymoron: the reason UAW is in business is to protect interests of its membership. The reason for company to have doors open to protect value of owners. If UAW is an owner and employee they will have to control inner workings of this enterprise. So far they have great record of driving 2 major companies into the ground and receiving largest stake in the company for it. I used to believe that workers paradise in the form of USSR and satellites failed to deliver what one pool of workers produced to satisfy another pool of workers (consumers). Can someone explain to me why this workers paradise will survive when one in Eastern Europe perished?