"Chrysler Corp. apparently has picked a half-dozen of its heavy-hitting outside directors to sit on the new DaimlerChrysler AG supervisory board... The group will team up with six directors selected by Daimler to form a 12-member board."
(Yawn). So far, so late capitalist. But then comes the shocker:
"That temporary board, however, will stay intact only a few weeks, until a German court approves a list of 10 employee representatives as directors. Once the merger is complete, one board member from each side will be let go and the 10 remaining members will be joined with the company employees to form the 20-member board."
Translation: half the directors will be appointed by the UAW and IG Metall. Worker ownership comes to America at last! JD Rockefeller must be turning over in his grave. Why aren't the rentiers rioting in the streets over this one?
-- Dennis