FOXNNews is reporting that "The UAW reached a deal over the weekend that would give it a 55 percent stake in the company and assurances over issues like health care. " "The company" is Chrysler.
I was driving a bit ago, and Rush Limbaugh is just fuming over this. Me? Not so much.
Some of the creditors are getting out with some cash. The union gets "majority control". The majority of nothing is...nothing. When the UAW gets finished, there will be less than nothing, and the UAW will have wound up shooting themselves in the foot (or other convenient body part).
Looks kind of like a win-win to me.