The ASOC consists of active and retired members of the United Auto Workers (UAW), along with salary workers and vested stakeholders who seek to offer a grassroots, democratic solution to this crisis.
The ASOC’s proposal calls for the reorganization and financing of Chrysler and GM Auto Companies as stakeholders-owned entities through leveraged Employee Stock Ownership Plans (ESOPs). It also proposes a new contract that would transform the United Auto Workers from its outmoded, conflict-based model of labor unionism to the more collaborative, productive and market-oriented model of ownership unions.
As described in the ASOC’s proposal, in a poll conducted by the ASOC of 2700 active and retired UAW members, 95% of the respondents supported worker ownership as the solution for revitalizing the industry, with 4% requesting more information and only 1% opposed.
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A Letter From...Auto Stakeholders Ownership Corporation
March 12, 2009
To whom it may concern:
Like many American citizens, our group, representing many full-time and retired UAW autoworkers, along with salary workers and vested stakeholders is skeptical that conventional approaches to saving the U.S. auto industry will address the root causes of its collapse.
There is a cancer threatening the very survival of this major industry whose health affects that of many other industries in America. There is a need for radical surgery, not band-aids.
Profit sharing in the form of stock distributions to stakeholders would help to democratize the ownership of America’s vast corporate wealth which is today appallingly undemocratic and unhealthy…. Since profits are a residual, after all costs have been met and since their size is not determinable until after customers have paid the prices charged for the firm’s products, profit sharing [through wider share ownership] cannot be said to have any inflationary impact upon costs and prices. (Walter Ruether)
We think the key to curing and restoring the competitiveness of the U.S. auto industry is to maximize the ownership opportunities and responsibilities of all stakeholders, from the assembly line to top executives in the companies, including their suppliers and dealers.
Attached is our proposal, “Revolutionizing the U.S. Auto Industry through ‘A Stakeholders Ownership Corporation.’” This proposal has already been sent to Region 2-B Director Lloyd Mahaffey and to UAW International President Ron Gettlefinger. We need you to champion our cause to set a new precedent in the social contract that unions negotiate for their members, to revitalize the auto industry and all related industries, so that they can become more competitive in the global marketplace.
In Washington we are represented by former Congressman Walter E. Fauntroy. He is working with a bi-partician and bi-cameral group of governmental VIP's forging ahead to see this plan a reality.
PLEASE, SPREAD THE WORD-Please, help us spread this positivie plan by emailing this website to three individuals you know. This will help immensly and multiply spreading the word very quickly...Thank you for your help!
