Magna wants to keep it's big customer, but not everyone agrees. If the UAW aren't careful Hyundai or Chery will get Chrysler and all will lose out. If GM gets Chrysler all is totally lost, Chrysler will be toast!
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> Magna, unions in talks to help Chrysler
>
> GREG KEENAN
>
> Globe and Mail Update
>
> Magna International Inc. chairman Frank Stronach met with leaders of the two
> largest unions at the Chrysler Group last week to discuss ways of helping the
> auto maker out of its current crisis.
> Magna is doing ³substantial due diligence work on Chrysler and is seriously
> considering the potential purchase of the company,² Brett Hoselton, an
> analyst for KeyBanc Capital Market said in a report to clients Monday. >
> Mr. Hoselton himself cast doubt on the potential of a deal, but noted that
> Magna officials had held talks with senior UAW officials.
>
> ³Our sources indicate that UAW leadership was combative, and as a result, the
> meeting was short and unproductive,² Mr. Hoselton wrote.
>
> Magna already manufactures vehicles on a contract basis for Chrysler, its
> sister company Mercedes-Benz and other customers.