UAW hires Girsky to advise on merger, bailouts

Automotive News reports the United Auto Workers union has hired veteran Wall Street consultant Stephen Girsky to advise it on the potential merger of Chrysler and General Motors as well as automakers’ efforts to get a bailout from the federal government.

UAW President Ron Gettelfinger has gone on record as opposing a merger if it would cause massive job losses and plant closings. An analyst from Grant Thornton estimated yesterday that as many as 200,000 jobs direct and supplier could be eliminated as a result of the merger.

Girsky, 46, has intimate knowledge of both GM and Chrysler. A former senior auto analyst with Morgan Stanley, he was an adviser to Rick Wagoner, General Motors’ CEO. He also worked with private equity group Centerbridge Partners LP when it made an offer for Chrysler when Daimler AG put it up for sale last year.