Employees consider Buying Chrysler

| 4/20/2007

The United Auto Workers Union is reportedly considering a bid to buy
70-percent control of the ailing Chrysler division of automaker DaimlerChrysler.

According to The Wall Street Journal, UAW workers don’t want a group of private investors to take over the company. The UAW thinks it might be able to finance the takeover through cuts in health care benefits and other concessions.

Meanwhile, Chrysler – despite losing money and being on the auction block – says it will invest nearly $2 billion in building two new plants in Michigan and refurbishing several others.