Chrysler Employees to Purchase Chrysler Group?

As reported by Detroit News, 50,000 Chrysler employees are trying to buy 70% of the ownership in the Chrysler Group.

"The head of the United Auto Workers said the union hasn't ruled out making an offer to buy the Chrysler Group, but experts are mixed on whether employee ownership makes sense for Chrysler.

In an interview Friday with WJR Radio in Detroit, UAW President Ron Gettelfinger said the union has reviewed a "very sketchy" proposal made earlier this month by a group of about 25 Chrysler employees in Toledo to acquire a 70 percent stake in Chrysler through an employee stock ownership plan, or ESOP, in exchange for health care concessions.

"Ever hear the statement 'all options are on the table?' " Gettelfinger responded when asked whether the UAW would bid for Chrysler. "We haven't ruled anything out."