Like other auto-news outlets, we’ve been on the Chrysler sale story since words began leaking out of Auburn Hills on a sale. And while there’s some daily twist to the news—new bidders, uninterested bidders, sagging morale—the important development over the past few weeks has been the coalescing of UAW sentiment against a sale to hedge funds.
“The UAW is clearly gearing up for trench warfare,” says TheCarConnection.com’s Joe Szczesny, “which might be shortsighted, but leaves any potential buyer of the Chrysler Group in serious danger. It's one thing to make a speculative investment that has an upside potential. It's another to sink money into a venture with no hope of ever recovering anything,” he observes.
“Volumes are going to written in the press and on Wall Street about the UAW's lack of judgment,” Szczesny sums up. “The UAW is already being blamed for setting in motion the forces pulling apart DaimlerChrysler, which ultimately might leave the separate pieces in some serious trouble.”
While a decision could come as soon as next month, the day-to-day story at Chrysler gets fuzzier and predictions get more risky. So we’ll stay on it—but we’re interested in hearing from Chrysler and UAW folks for more details. What do you hear—and what do you think of the potential suitors?
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