Financial Times FT.com

UAW gears up to join boards of carmakers

By Bernard Simon in Toronto

Published: April 29 2009 22:44 | Last updated: April 29 2009 22:44

The United Auto Workers union is about to embark on one of the riskiest adventures in the 72 years since its founders won recognition from General Motors by turning a fire-hose on police during a strike in Flint, Michigan.

In what is less a victory than a coming-to-terms with reality, the union is likely to emerge as one of the biggest shareholders in the three Detroit carmakers: GM, Ford Motor and Chrysler.

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