Say you’re a labor union. Your big, bloated labor contracts are killing your industry to the point where its teetering on the edge of insolvency. What do you do? Negotiate more reasonable contracts?
Of course not. Get the Democrats you just got elected to take over the company for you and then give it to you.
STERLING HEIGHTS, Mich. — The United Auto Workers union will own 55% of a restructured Chrysler LLC and its retiree health care trust will get a seat on the board if union members vote to approve contract concessions this week.
Chrysler stock could even be traded publicly again, as there are mechanisms for the UAW to sell shares to fund the health care trust.
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