1.
U.S. markets recover from steep losses
DETROIT, April 28 (UPI) -- There is growing support from organized labor for Magna International Inc. to buy a big stake in the Chrysler Group, a leading U.S. analyst says.
The United Auto Workers has approached Magna with a plan for a concessions package, said Brett Hoselton of KeyBanc Capital Markets. Business people familiar with the unions and Chrysler are denying the report, the Detroit Free Press said Saturday.
The UAW and the Canadian Auto Workers union believe Magna is the best possible bidder if Chrysler, the U.S. unit of Germany's DaimlerChrysler AG, must be sold, Hoselton said Friday.
"The UAW now views Magna as its best chance to secure jobs," Hoselton wrote in a note to clients, and "is vehemently opposed to the sale of the automaker to a stand-alone private equity firm."
There is a good chance that Magna will seek an ownership stake in Chrysler in a deal in the $5-billion range, Hoselton said.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
