Chrysler Employees to Purchase Chrysler Group?

Date 2007/4/21 9:44:22 | Topic: Miscellaneous

The Detroit News is reporting that a group of Chrysler employees is in the process of putting together a plan for 50,000 employees to purchase a 70% stake in Chrysler Group:
The head of the United Auto Workers said the union hasn't ruled out making an offer to buy the Chrysler Group, but experts are mixed on whether employee ownership makes sense for Chrysler.

In an interview Friday with WJR Radio in Detroit, UAW President Ron Gettelfinger said the union has reviewed a "very sketchy" proposal made earlier this month by a group of about 25 Chrysler employees in Toledo to acquire a 70 percent stake in Chrysler through an employee stock ownership plan, or ESOP, in exchange for health care concessions.

"Ever hear the statement 'all options are on the table?' " Gettelfinger responded when asked whether the UAW would bid for Chrysler. "We haven't ruled anything out."

What do you think? If you were a Chrysler Employee, would you be for this plan? How about if they included Jeep owners - would you buy a piece? Let us know in the comments area or by voting in our InstaPoll in the right-hand column.


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