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Last updated 4:30AM ET
February 26, 2021
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CHRYSLER WORKERS
(2007-05-14)
(wgvu) - DETROIT (AP) - Some Chrysler workers aren't sure they like the
Cerebus (SUR'-bur-us) deal to buy a majority stake in Chrysler.
DaimlerChrysler's decision to sell the stake for
seven-point-four (b) billion dollars marks a stunning reversal of
the 36 (b) billion dollar 1998 purchase of Chrysler. The merger
with Mercedes-Benz was aimed at creating a global auto giant.
Some workers are scared Cerebus Capital Management will clean
house or make the workers take more concessions.
The idea of a sale to a private equity firm had concerned
unions. But U-A-W President Ron Gettelfinger says the deal
announced today is in the best interest of all concerned.

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