Chrysler files for bankruptcy, to combine with Fiat

[xtop]

http://money.cnn.com/2009/04/30/news/companies/chrysler_bankruptcy/index.htm?postversion=2009043009

As a result of that deal, the UAW will own 55% of Chrysler. Fiat will own a 20% stake with the option of increasing it to 35%. The U.S. government will own 8% and Canada will have a 2% stake.

thought that was the most interesting part about it.

 

[BlueCali]

Damn you beat me, I was in class when I got the email for this..

 

[halon]

at some point the union will have to negotiate a new contract for a company they now have a stake in.

very interesting.

they should put it on tv and call it a comedy!

i'm anti-union.

it's also very scary to see a tv commerical and hear them say that your warranty is backed by the US Goverment.

 

[mobius387]

one of my friends was working on this case for the past couple weeks, so i knew it was coming awhile ago. she doesn't work for chrysler, but for a different company, so shes OK.

 

[splax23]

Im am definitely anti-union. this just sucks for everyone over here in Michigan. Everyone is feeling the impact of the auto industry. Hopefully it gets better soon.