UAW working to take 70 percent stake in Chrysler

The United Auto Workers is in the process d & 39; study a long list of proposals for & 39; a group of Chrysler workers in Toledo who are pushing for & 39; employee of the sale & " quot; d & 39; automobiles. 25 hours workers who call themselves "fee of & 39; employee Buyout " committee proposes for workers to take 70 per cent in Thursday Chrysler producer of quality --- --- silent Chrysler with DaimlerChrysler retaining the other parties stakeholders. According to Michele Mauder who works at Chrysler & 39; s Toledo Supplier Park, where the Jeep Wrangler manufacturing and parts of Chrysler are products like the Chrysler --- silent who is a member of the committee, the workers believe employee we Chrysler & 39; best option for 50000 s UAW workers. She added, " Ultimately, the company will not take the coup, c & 39; east employees, shareholders and consumers. We must therefore work as a team. " Mauder also said that & 39; employee buyback committee was notified by the UAW last month indicating that its proposal is still being evaluated by the & 39; union legal department. The proposal was submitted by a shareholder DaimlerChrysler& 39;s annual meeting last April 4 and last Tuesday, Mauder received written notification from DaimlerChrysler that the proposal is to & 39; study by the German carmaker. Roger Kerson, UAW spokesman n & 39; have been located for comment late Thursday. D & 39; other hand, Mike Aberlich Chrysler spokesman was free to make a statement that & 39; he said that the proposal of & 39; group of employees was sent to the CEO of Chrysler Tom LaSorda and " should be considered by the legal department of & 39; company. " Mauder already planned for the proposal to be discussed at a supervisory board of DaimlerChrysler meeting next week. Even if she is aware that the proposal May & 39; s prove a long shot for them, but at least she said workers tried. She further added, " & 39; that unless they come up with a better plan, c & 39; east is it. It is really in the Daimler-ball. " Maude noted that Chrysler workers in the 80 shares in the company & 39; after & 39; automobile turned to the federal government for loans & 39; to help them out of its financial crisis. L & 39; employee has already been used in other industries d & 39; include struggling airlines and steel l & 39;, but unfortunately not widely considered & 39; in the automotive industry. Mauder pleads the case employees in a letter that she sent & 39; to April Zetsche dated 9 with their proposal attached. She wrote, " It appears that the May sale of Chrysler not only affects our employees and retirees, but essentially could affect the whole & 39; l & 39; automotive industry function the person who acquires our company. You never know until & 39; that the & 39; on request. Under no circumstances do we want to interfere with any potential sale of Chrysler. Mr. Zetsche, you made the statement that all options are on the table. Our committee hopes that this option would be required in relation to other offerings. Although Chrysler workers would prefer to stay with his parent company. If DaimlerChrysler is adamant to sell and (Canadian supplier of automotive & 39;) Magna (International Inc.) is the main competitor, our committee prefers the option & 39; partnership with them by a company of private equity. Magna, the Canadian operations, an employee has put in place l & 39; equity and profit participation. " DaimlerChrysler is currently already in negotiations with several potential buyers which includes two of the country& 39;s largest private equity firms, Cerberus Capital Management LP and Blackstone Group, which works with Centerbridge Capital Partners. Also in the range east Magna, which is in partnership with Onex Corp., a Canadian of redemption. It is also the & 39; American billionaire investor Kirk Kerkorian who presented his offer to $ 4.5 Chrysler and offered an ownership stake in the company & 39; union. Chrysler chief Tom LaSorda management has refused to reveal details about the ongoing negotiations. He said: "I& 39;ll just say that. Discussions are continuing. " L & 39; offers Kerkorian who tried to take Chrysler in 1995 includes participation & 39; for the UAW, and the management Chrysler. UAW President Ron Gettelfinger said that the private equity bidders for Chrysler have already talked to the union about the possibility of giving workers a stake in the carmaker. However Gettlefinger has repeatedly reaffirmed that it & 39; still prefer to DaimlerChrysler to keep Chrysler and pledged to use its seat on the 20 members of the Supervisory Board of DaimlerChrysler to fight against any agreement that would allow private Chrysler . The supervisory board will meet next week in Germany. D & 39; other representatives on the work of & 39; board of directors of DaimlerChrysler said that & 39; they do not support any bidder who plans to divide society. Mauder also said that their proposal is based on a thorough search, which it with a team & 39; experts on the subject conducted by Kent State University. The group also hopes that trade unions will also join them in their cause. They also reached out to local UAW leaders in Detroit for the support. The members of the staff will join the 21st annual Ohio Employee Ownership Conference today & 39; hui to better understand the & 39; company, they are lobbying. Plus they also planned to create a Web site where workers can correspond with each other on & 39; idea of becoming owners of Chrysler. Shaiken labour d & 39; experts said that workers stand on the private equity purchase Chrysler " is quite justified ". " Essentially, what & 39; they seem to say is that & 39; they want to see a manufacturing business success. The feeling of wanting Chrysler as a going concern success by & 39; spirit of almost all Chrysler workers and the paradox, c & 39; is that you have a lot of talent and experience in these factories, "he added .



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