Law and Rights
Unions aren't happy with rumors of big money moguls buying Chrysler from DaimlerChrysler AG and that just may foul up the investor group's plans, according to Reuster news reports.
The unions' opposition comes just as Cerberus Capital Management company officials are piecing together a takeover team but both US and European labor unions are voicing strong concerns about job security amid distrust of feared large job cuts if the Cerberus group pulls off its bid to buy the Chrysler's U.S. unit. Meanwhile, industry people are tossing out some decent ideas on how to fix Chrysler and its lagging product line, if only someone in the paneled corporate hallways of Detroit would listen...
Cerberus is made up of private investment groups Blackstone Group and Centerbridge Partners LP, and Canadian supplier Magna International Inc. Reports are that they have already met with Chrysler executives and begun reviewing financial and product-development information. They are expected to present their purchase proposals by month's end.
Certainly someone needs to buy the once-proud and now-ailing auto giant before it falls into a deep economic sleep from which it can't recover...and it seems clear that its European corporate parent is about to kick this corporate stepchild out on the streets!
What'll it mean for the drivers of Chrysler products? Who knows? The new owner likely will have to do what Chrysler's corporate parent wouldn't, or couldn't, including slashing the work force, stalling improvements behind closed doors, and more cost-cutting measures, not the least of which is (just as the Unions fear) cutting wages for the people it keeps on board. There's lots of reasons to fear, if you work for Chrysler in the US. And there's lots of reason for concern if you're going out to buy a new car too.
After all, if that shiny new Chrysler 300 has fiery seats, like the recalled 2006 Chrysler 300 cars, will Dr. Z on a beach somewhere, enjoying his bonus money while you're calling the fire department?
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Law and Rights
Unions Leary of Chrysler Bidder
Unions aren't happy with rumors of big money moguls buying Chrysler from DaimlerChrysler AG and that just may foul up the investor group's plans, according to Reuster news reports.
The unions' opposition comes just as Cerberus Capital Management company officials are piecing together a takeover team but both US and European labor unions are voicing strong concerns about job security amid distrust of feared large job cuts if the Cerberus group pulls off its bid to buy the Chrysler's U.S. unit. Meanwhile, industry people are tossing out some decent ideas on how to fix Chrysler and its lagging product line, if only someone in the paneled corporate hallways of Detroit would listen...
Cerberus is made up of private investment groups Blackstone Group and Centerbridge Partners LP, and Canadian supplier Magna International Inc. Reports are that they have already met with Chrysler executives and begun reviewing financial and product-development information. They are expected to present their purchase proposals by month's end.
Certainly someone needs to buy the once-proud and now-ailing auto giant before it falls into a deep economic sleep from which it can't recover...and it seems clear that its European corporate parent is about to kick this corporate stepchild out on the streets!
What'll it mean for the drivers of Chrysler products? Who knows? The new owner likely will have to do what Chrysler's corporate parent wouldn't, or couldn't, including slashing the work force, stalling improvements behind closed doors, and more cost-cutting measures, not the least of which is (just as the Unions fear) cutting wages for the people it keeps on board. There's lots of reasons to fear, if you work for Chrysler in the US. And there's lots of reason for concern if you're going out to buy a new car too.
After all, if that shiny new Chrysler 300 has fiery seats, like the recalled 2006 Chrysler 300 cars, will Dr. Z on a beach somewhere, enjoying his bonus money while you're calling the fire department?
Burdge Law Office
www.UsLemonLawyers.com
Helping Consumers, and Consumer Law Attorneys, Since 1978
www.UsLemonLawyers.com
Helping Consumers, and Consumer Law Attorneys, Since 1978
Subscribe in a reader- Chrysler Tweet Says Nobody In Detroit "knows How To F****** Drive" And Someone Gets Fired...
Someone at Chrysler's ad agency, in charge of its social media, went online at Chrysler brand's Twitter account and blasted out an f-bomb tweet to its followers saying "I find it ironic that Detroit is known as the #motorcity and yet no one here...
- Chrysler Drops Magnum, Pt Droptop, Pacifica & Crossfire Models
A week ago we predicted Chrysler would drop some of its models that overlapped each other's target buyers and introduce some new ones. Well, Cerberus, the new owners of Chrysler, announced the elimination of four models from the Chrysler lineup,...
- Dodge Nitro Blowing Up?
You have to wonder why Chrysler makes so many models that compete with each other, instead of with other brands, and just how long can that kind of marketing survive? Take the Dodge Nitro. It competes with the Jeep Liberty. Then there's the Chrysler...
- "we'll Pay You To Buy Chrysler"
Apparently parent company DaimlerChrysler AG (DC) is so anxious to dump Chrysler (CC) that it has agreed to pay the buyer $1.55 billion to take over the ailing American auto giant. Last week we thought the Russians were coming. Now, we find out it's...
- Is Gm Buying Chrysler ???
Hold on to your hats, folks... Automotive News is reporting that DaimlerChrysler may be negotiating with General Motors for GM to acquire Chrysler. That's a reversal of what DaimlerChrysler CEO Dieter Zetsche said just last fall. Is DaimlerChrysler...