A mere 8 weeks ago it would have been unthinkable to believe the CAW would agree to more concessions or benefit cuts. But as we sink deeper into the "The Great Recession" and as the Governments in the United States and Canada play hardball in their efforts to save what is left of the traditional North American Auto Industry, the old rule book no longer applies.
CAW President Ken Lewenza, who in my view continues to be underestimated, knew this and did what he had to do. Ken delivered; he got the job done. Now it's up to the membership to accept $19 per hour in concessions. Which they did Sunday (April 26) evening.
Many opinion leaders, and writers blame management and the unions for the mess over at the "Detroit Three". No longer Bigggggg, just "Detroit Three".
All eyes are now on Fiat.
It will be interesting to see how Fiat, a company with a struggling balance sheet, will buy 30% of Chrysler with no money down. Geez!! Isn't that how we got into this mess in the first place? People and companies loaded with debt, buying stuff with no money down!!!!
We in Windsor Essex continue to wait for the Windsor Star to give us all the financial goods on Fiat. After all they do have a team of business writers. Maybe they can start by analysing Fiat's last several quarterly reports. Or maybe Windsor Star "super snooper" Grace Macaluso could tell us more about Fiat layoffs at it's truck plant in Spain.
