Chrysler’s largest stakeholder upset after Union push for IPO
Share Now on:
After Chrysler’s bankruptcy, the United Auto Workers union ended up owning a large stake in the company. Chrysler’s largest shareholder, Fiat of Italy, wants the union’s stake, but they’re arguing over money. Representatives for the union have now filed papers to sell the union’s stake to the public in an intial public offering and Fiat is not too pleased about the action.
Micheline Maynard, Forbes contributor, says the UAW is filing for an IPO as a bargaining tactic.
“I think this is a way to let the markets set the price on Chrysler. It’s a big gamble though,” she says.
Micheline Maynard, Forbes contributor, joins Marketplace Morning Report host David Brancaccio to discuss.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.