Monday, April 23, 2007

Kirk Kerkorian Would Like To Form A Worker Owned Chrysler

Billionaire businessman Kirk Kerkorian is interested in holding talks with current Chrysler employees who want to keep their jobs by possiby forming some sort of employee owned company in which Kerkorian may play the role of a major investor or even CEO. If Daimler, the German company which owns Chrysler agrees to such talks, then Chrysler could become the single largest employee owned company in the U.S. and spur a new sense of business based off socialist models of worker owned workplaces in order to protect their jobs.

With the huge growth in outsourcing and job cuts to cut costs, this socialist model of worker owned workplaces is growing in attraction. It might well be one of the only real ways in which workers can really protect themselves from the majority form of corporate management in which workers are but mere pawns to the management, and only exist to assist profits for the management, while the worker owned model spurs more respect for the company by the workers as well pride in the products they produce.

Whether this new Americanized version of a classic socialist model for business operation really takes hold in the U.S. yet remains to be seen. But Kerkorian has owned as much as 9.9% of General Motors stock at one point, but then sold 14 million shares to increase his ownership of MGM up to 61% by 2006. For an eighth grade dropout, Kerkorian has proven to be one of the greatest American business leaders ever. Kerkorian once made a failed bid to purchase Chrysler, but Daimler won out. Now the company has lost probably 50% or more of it's value, and Daimler will take a huge loss regardless of who buys the company.


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