Skip to main content

View Diary: UPDATE: VW CEO Calls out Corker for saying VW won't expand if UAW is approved in Chattanooga (187 comments)

Comment Preferences

  •  let's add to that... (10+ / 0-)

    that VW, as any listed company in Germany, is controlled by a "supervisory board", which is not involved in the day-to-day business but has substantial say in major issues and elects and fires the company's executives.

    This board has an odd number of members - and 50% - 1 of them are elected by the company's employees.

    The other 50%+1 are elected by the shareholders. But... the second largest shareholder, holding 20% of voting stock, is the German state of Lower Saxony ... which currently is governed by a coalition of Social Democrats and Greens. The Social Democrats are Germany's moderate leftwing party and very closely allied with the large trade union block. And if you take into account that of the 8 unions that make up Germany's trade union association, the by far largest and most cohesive is IG Metall... which covers... surprise, surprise ... Volkswagen, you understand that VW's executives know very well that their job is to work with and not against trade unions.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site