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Fabbrica Italiana Automobili Torino

 
 
Reply Mon 30 Mar, 2009 10:54 am
Aka Fiat, looks like Fiat will take over Chrysler, verra interesting. The US Treasury will finance.
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Type: Discussion • Score: 5 • Views: 1,227 • Replies: 13

 
ossobuco
 
  1  
Reply Mon 30 Mar, 2009 11:26 am
@dyslexia,
Hmmmmm.
0 Replies
 
dyslexia
 
  1  
Reply Mon 30 Mar, 2009 11:30 am
DETROIT (Reuters) " Chrysler LLC has reached an agreement on a framework of a global alliance with Italian automaker Fiat SpA (FIA.MI) that has the support of the U.S. Treasury, Chrysler's CEO Bob Nardelli said on Monday.

"We appreciate the willingness of the (autos) Task Force, along with industry and financial experts, to consult closely with us in order to achieve this significant step," Nardelli said in a statement.

Chrysler, owned by private equity Cerberus Capital Management, was deemed by the task force to be not viable as a stand-alone company and was given 30 days to complete an alliance with Fiat or be cut off from U.S. government funding.

If Chrysler can complete an alliance with Fiat and cost-saving arrangements with creditors and its major union, the U.S. Treasury would consider investing up to another $6 billion.

The boards of Chrysler and Fiat have given executives approval to complete an alliance that now hinges on the terms for additional aid for Chrysler, people with knowledge of the discussions have said.
0 Replies
 
Ragman
 
  1  
Reply Mon 30 Mar, 2009 11:40 am
@dyslexia,
FIAT = Fix It Again, Tony!
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roger
 
  1  
Reply Mon 30 Mar, 2009 11:40 am
@dyslexia,
I am dumbfounded, and have been since the day I first heard of the proposal - sans Treasury involvement. Fiat gets 35% of Chrysler. Chrysler receives prints and specifications for some cars. Now, I have never, and I mean never met anyone who actually wanted to own a Fiat. So, something like 6 billion dollars in loans is conditioned on the deal going forward, so that in a few years, Chrysler can start rolling out cars that nobody wants to own, let alone pay for.

Well, if we can't stimulate our own economy, maybe we can help Italy's.
ossobuco
 
  1  
Reply Mon 30 Mar, 2009 11:44 am
@roger,
Hey, Buddy, you've met me (two Fiats, count 'em, two).
roger
 
  3  
Reply Mon 30 Mar, 2009 11:49 am
@ossobuco,
Oh, I could get a bunch of "Made in Italy" stickers, and plaster them on the Brooklyn Bridge. You would be the first bidder.
ossobuco
 
  1  
Reply Mon 30 Mar, 2009 12:03 pm
@roger,
Eh, my new fiat wasn't any worse a car than my new vw, back in the day, and went a hell of a lot faster.
0 Replies
 
Walter Hinteler
 
  1  
Reply Mon 30 Mar, 2009 12:04 pm
@roger,
Perhaps some FIATs aren't bad at all, especially some made by its subsidiaries/divisions like Abarth, Alfa Romeo, Ferrari, Masserati ...
roger
 
  1  
Reply Mon 30 Mar, 2009 12:17 pm
@Walter Hinteler,
Please, Walter. No relevance.
0 Replies
 
farmerman
 
  2  
Reply Mon 30 Mar, 2009 07:42 pm
@dyslexia,
Does that mean we can look forward to our highways being littered with derelict Chryslers leaking oil out of their quickly rusting hulks?
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edgarblythe
 
  1  
Reply Mon 30 Mar, 2009 07:54 pm
I've known two persons that drove Fiats. The first one was a door to door salesman. He drove the bejaysus out of that thing. The other had the Spyder. He loved it.
0 Replies
 
fbaezer
 
  1  
Reply Mon 30 Mar, 2009 08:17 pm
I know LOTS of people who own FIATs.
All Italians.
ossobuco
 
  1  
Reply Mon 30 Mar, 2009 08:20 pm
@fbaezer,
Just to spite Farmer, Ima gonna get a new fiat spyder and ride an irish setter around in it. (Come to think of it, I had an irish setter at the time of fiat spyder numero due. But then he rode in the f#%@@!! VW van....) That was all years before the onset of my mad italophilia.
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