The president of the UAW,Ron Gettelfinger has stated that Chrysler has guaranteed the UAW and the CAW that there will be no further layoffs at Chrysler other than the restructuring that was already under way. At the same time according to an article in the New York Times Daimler will invest 1 billion dollars in the pension fund and Cerberus an additional 200 million.
This is good news for the workers and pensioners at Chrysler.
At the same time on another front Cerberus may be making a take-over bid for BCE.This should be looked at very carefully by the Canadian government to ensure that Canadian interests are not compromised by the foreign takeover of our giant telecommunications firm.
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