Chrysler is doing it.
Why not Clear Channel?
You heard last week that Chrysler was nudged into bankruptcy by the Obama Administration so it can pursue a do-or-die alliance with the Italian automaker, Fiat.
In essence the plan allows the United Auto Workers (the union) through their retirement plan to take control of Chrysler with Fiat and the U.S. government as minority partners.
The government will lend another $4 billion to Chrysler to ease the transition (above the original $8 billion). It's a no lose for the autoworkers who now have their pension guaranteed by the government.
The employees are&hellip
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