Talks begin soon between the United Auto Workers and Detroit's carmakers on a national contract and analysts expect Cerberus, headed by former Treasury Secretary John Snow, to push for radical changes at its money-losing Chrysler, Jeep and Dodge operations.

The announcement sent shudders through much of Chrysler's work force, despite assurances from Chrysler CEO Tom LaSorda that there are no major plans to cut jobs beyond a previously announced restructuring plan.

That wasn't good enough for Canadian Auto Workers President Buzz Hargrove. He said he had "enormous concerns," noting that many private equity groups have a long-standing history of "job cuts as opposed to job creation."

The Japan Times Weekly: May 19, 2007
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