"The devil you know": Familiarity may breed more trust than contempt in Detroit, as the United Auto Workers union decides which Chrysler suitor to cozy up with -- or whether to spurn them all in favor of sticking with current ownership. Two industry analysts told "Morning Call" viewers that for all the griping, the UAW may prefer to keep things as they are.
Last week, Tracinda -- the holding company led by billionaire Kirk Kerkorian -- said it would bid on DaimlerChrysler's U.S. arm. The announcement caused a stir when the investment group offered a role to the UAW that would include an equity stake in the company. Now, the other reported bidders -- Magna International, Blackstone Group and Cerberus Capital -- are also said to be weighing a role for the UAW, in return for its support.
CNBC's Phil LeBeau said that the UAW is now "on the spot" to choose wisely, as its potential voice in Chrysler's future is also a weighty responsibility -- and the Behind The Wheel blogger reminded viewers that employee ownership in UAL's United Airlines didn't help navigate the carrier out of financial doldrums.