REPORT: UAW backs Chrysler-Fiat partnership
But with current timelines, the question is where Chrysler and the UAW will be by the time such a partnership gets to the next stage. Fiat expects to complete its due diligence of Chrysler by the end of this month. But by that time, Chrysler will need to have secured concessions from the UAW and bondholders in order to get additional money from the U.S. government. Whether it will get the concessions from both parties – and what the government will do when it comes time to write a check – are all things that remain to be seen.
[Source: The Detroit News]
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