May 1, 2009 7:36 AM
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UAW Head Optimistic On Chrysler
A day after Chrysler agreed to file for Chapter 11 bankruptcy and form an alliance with Italian automaker Fiat, the president of the United Auto Workers mustered up some optimism for the beleaguered industry.
"This is an opportunity," Ron Gettelfinger told CBS' The Early Show Friday. "We just want to keep the American auto industry going."
Chrysler, the third-largest car maker in the U.S., hopes to come out of bankruptcy in as soon as 30 days, with Fiat as its majority owner. In exchange for Chrysler's decision, the U.S. government will give Chrysler $8 billion to stay afloat.
Indirectly, UAW will hold a majority stake in Chrysler, but Gettelfinger said the union will only have one seat on the board of directors which will not have a vote.
Asked if the automaker can move beyond the stigma of having gone bust, Gettelfinger chirped, "We're hopeful that it can."
"This is an opportunity," Ron Gettelfinger told CBS' The Early Show Friday. "We just want to keep the American auto industry going."
Chrysler, the third-largest car maker in the U.S., hopes to come out of bankruptcy in as soon as 30 days, with Fiat as its majority owner. In exchange for Chrysler's decision, the U.S. government will give Chrysler $8 billion to stay afloat.
Indirectly, UAW will hold a majority stake in Chrysler, but Gettelfinger said the union will only have one seat on the board of directors which will not have a vote.
Asked if the automaker can move beyond the stigma of having gone bust, Gettelfinger chirped, "We're hopeful that it can."
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