In order to survive the Great Recession, Chrysler once again had to team up with a European partner. This time their ally was Fiat, and against all odds Chrysler has come out leaner, meaner, and selling more cars than at any time in the past three decades. But as always there is trouble in paradise, with Fiat and the UAW arguing over the valuation of the Chrysler corporation. To settle the matter, the two are going to take it to a public vote. Literally.

Chrysler’s Auburn Hills headquarters.

The Detroit News reports that Chrysler could file the paperwork to get the ball rolling on an Initial Public Offering, or IPO, of shares in the automaker. While Fiat remains a majority owner, the Italian automaker has a lot riding on going public.

The crux of the issue is what Chrysler wants to pay the UAW for its portion of Chrysler shares. Fiat wants to own Chrysler entirely, and wants to pay as little as possible for the privilege. Meanwhile the UAW wants to get as much money as it can for its portion of Chrysler shares, which Fiat needs to own the company outright.

The only way to make that happen now is an IPO, which will let the market determine Chrysler’s valuation. If shares climb higher than Fiat’s Sergio Marchionne anticipates, his company may end up paying a premium price for the UAW’s shares. If, however, the price falls, the UAW may have inadvertently cost itself millions of dollars.

It will take a few months for the paperwork to clear, depending on when Chrysler actually files it. But a Chrysler IPO could happen before the end of the year. Would you be interested in buying Chrysler stock?