UAW chief fighting possible Chrysler sale

April 19, 2007

Ron Gettelfinger, the Indiana native who rose to president of the United Auto Workers, says he will ask the supervisory board of DaimlerChrysler AG to not sell Chrysler.

Gettelfinger is one of 10 union representatives on the German automaker’s board. There is a total of 20 members on the board.

Not only has Chrysler helped the parent company, Gettelfinger told Bloomberg, but the “strip and flip” attitude of private equity firms would hurt union workers.

The private equity firms Cerberus Capital Management LP, Blackstone Group LP and Centerbridge Capital Partners have met with DaimlerChrysler officials. Also showing interest are Canadian autoparts maker Magna International Corp. and Tracinda Corp., owned by billionaire Kirk Kerkorian.

Chrysler, which has been losing money, operates transmission plants in Kokomo north of Indianapolis.

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