The Detroit News reported this morning that the UAW is reviewing a proposal from a group of 25 Chrysler employees from the Toledo plant that would make Chrysler an employee owned company.
Calling themselves the “Employee Buyout Committee,” they propose that UAW employees buy 70% of the Chrysler Group. The rest of Chrysler would still be owned by Daimler-Benz. The proposal is being evaluated by both UAW and Chrysler legal departments.
The workers know that the proposal is the long shot, but are pursuing it nonetheless. Automotive News reported today that CAW president Buzz Hargrove has rejected any such effort, saying that CAW Chrysler employees already have enough invested in the company.
