UAW to own chrysler?
Apr 28 2009 16:33
Quote:
Report: UAW to Own 55% of Chrysler under Restructuring DealThere are major developments in the proposed restructuring of Chrysler. The car company and labor leaders have agreed to a tentative deal where the United Auto Workers union’s retiree healthcare fund would become the majority shareholder of Chrysler in exchange for cutting in half what the automaker owes the healthcare trust.
Apr 30 2009 09:02
#2
Exactly. And also, of course, how trade unions are fully complicit in running and supporting it. Not that there's anything new in that.
Apr 30 2009 09:33
#3
It also feeds into the idea about "self-management". If the bourgeoisie (masters of competition and "business") can't make a company successful in the framework of their own economy, how the hell can we? These workers will still need to sell cars into a saturated market - how can they do this without doing exactly the same things the capitalists do i.e. attack the workers? Of course, in this particular case it's the union behind this and they are the experts in attacking workers ... and a no-strike policy will undoubtedly be enforced.
Apr 30 2009 11:35
#4
Quote:
Chrysler LLC's United Auto Workers union members ratified a new cost-cutting agreement increasing the likelihood of the auto maker's survival.
The UAW said 82% of its production workers and 80% of its skilled trade workers voted for the accord which suspends bonuses and cuts holiday pay but ultimately gives the union's health care trust fund a 55% stake in a reorganized Chrysler.
The union said 90% of clerical workers and 94% of engineers also approved the deal with the changes taking effect May 4.
[url=http://www.marketwatch.com/news/story/UAW-ratifies-Chrysler-cost-cutting/story.aspx?guid={BD39AFD0-5EB4-4C59-8C66-0D21ECF44C80}]link[/url]
Apr 30 2009 16:07
#5
looks like the whole deal might fall apart now anyway due to a handful of hedge funds (who think they will get more back if it goes bankrupt) not agreeing to the reorganisation scheme
Jun 25 2009 13:45
#6
it's happened:
Quote:
its three principal new owners — the retiree benefit fund for the labor union that President Obama himself has identified as a contributor to the company’s decline; a government that insists it will keep its hands off day-to-day decisions; and a foreign car company, Fiat
http://www.nytimes.com/2009/05/01/business/01assess.html?_r=1&hp
Jun 25 2009 13:49
#7
(edit: this got bumped by accident)
Jun 27 2009 00:55
#8
Quote:
There is reason for skepticism. For all the optimism expressed by the administration about a downsized, leaner Chrysler, the structure of the new Chrysler sets the stage for a conflict between current workers and retirees.Chrysler’s workers, of course, are desperate to preserve their job security, their wages and their generous health care benefits, built up over years of negotiations. But it is Chrysler’s retirees who will hold a seat on the new company’s board, representing the interests of a dwindling — and expensive — retirement health plan.
“There’s a potential conflict there, absolutely,” one of Mr. Obama’s aides conceded Thursday.
How would a conflict between retired workers and current workers benefit Capital? Is this a conscious move by Capital to get the working class to eat its self alive?
Jun 27 2009 19:40
#9
smg wrote:
Is this a conscious move by Capital to get the working class to eat its self alive?
dunno about that. more like a conscious attempt by the auto industry to get the UAW to eat itself alive.
Wow, crazy stuff. But then I suppose not that bizarre really considering that workers pension schemes are among the world's biggest "capitalists". Still, it's a good illustration of how diffuse capitalism is, and how it's not about a small group of men with top hats and cigars but about a social relationship.