Tuesday, June 02, 2009

Karl Marx, GM and Chrysler. More than surreal!

The workers are now, finally, significant owners of the means of production. The United Auto Workers control about 65 percent of Chrysler and 17.5 percent of General Motors.
Daniel Gross has, as always, an engaging column. The ending is even better:
A shrinking union accepts stakes in shrinking companies. It promises not to strike. The governance system muffles the union's voice by restricting its board presence. It sounds like an arrangement a union-hater like Jack Welch would have cooked up.

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