These are interesting times for Ron Gettlefinger and the United Auto Workers. What at first blush appears to be a golden opportunity for the union, is a double edged sword.
Last Thursday, Kirk Kerkorian's Tracinda Corp made a public bid to buy Chrysler that includes an offer to have the UAW take an equity stake in the company. Once the word got out, people in the industry at the New York Auto Show started speculating the UAW will jump at the chance to own part of the big 3. After all, the union has complained for years the problem with the big 3 isn't the inefficiencies and high labor costs in the American auto plant, it's the product management is pumping out. In essence, the union has been saying, "Design and build better cars and trucks and do some better planning, then the big 3 will bounce back." What better way to ensure the company is on the right path than a seat on the board and partial ownership of the company.
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