The United Auto Workers currently doesn't have any representation on the boards of General Motors, Chrysler and Ford, but boss Bob King apparently wants to change that. TheDetroitBureau.com is reporting that King and co. would like to add union representation to boards, and the UAW chief is looking to Germany for inspiration. German automakers adhere to a co-determination law that requires automakers to have union representation on the Board of Supervisors of each company.
Ford Motor may be taking a page from General Motors' restructuring playbook in considering ot sell off part of its Ford Credit financial unit. Both companies have seen the cost of capital for their financial subsidiaries rising as the automakers' credit status falls ever further into junk status.