Chrysler Fiat deal (bankruptcy)

[Orphan-Beggar]

The Associated Press: Fiat CEO: Concessions or no Chrysler deal
MILAN (AP) — Automaker Fiat Group SpA will walk away from a deal to take a 20-percent stake in Chrysler LLC if the U.S. automaker's unions don't agree to major cost cuts, Fiat CEO Sergio Marchionne said in an interview published Wednesday.
Fiat and Chrysler are up against an April 30 deadline for Fiat to take a stake in the failing U.S. automaker in exchange for small car technology, but Chrysler first needs concessions from creditors and unions to ink the Fiat deal. If the Fiat alliance isn't finalized by then, the U.S. government has threatened not to provide any more aid and let Chrysler be sold off in pieces.
"Absolutely we are prepared to walk. There is no doubt in my mind," he said. "We cannot commit to this organization unless we see light at the end of the tunnel," Fiat CEO Sergio Marchionne said in an interview published in the Toronto Globe and Mail
Marchionne said there is a 50 percent chance the deal will fail because of lack of progress in labor negotiations in both the United States and Canada.

7 American Cars Worth Bailing Out - Rick Newman (usnews.com)

[psychobeth]

Italian is "A un hemi" (pronounced 'ah oon hemi)

[cowancom]

The Fiat deal was DEAD the day the 500 horribly failed the US Government crash test. The car cannot and will not be sold in America. By the way--the Alfas failed also.
RIP--Chrysler and GM
Do not forget-just 4 years ago-in a very good car market-GM paid Fiat 3 Billion cash to "go away".
http://www.independent.co.uk/news/bu...al-483370.html

[Springlering]

My left brain really wants a 500.

But then, my right brain says, "idiot, remember that X-19 you used to have?"

[Big Panda]

Meanwhile, back at the ranch.........

[Godfather]

There's a Panda ranch?????? How did I miss that? Anybody wanna buy an old, unsafe '08 smart? I neeeeed a safe new '09. That sounds about as dumb as IIHS...... (International Imbecile Hysterical Society)

[paroyboy]

Originally Posted by cowancom

The Fiat deal was DEAD the day the 500 horribly failed the US Government crash test. The car cannot and will not be sold in America. By the way--the Alfas failed also.

Do you have a link for these crash tests? I didnt realize the 500 was test here yet

[24-42]

Originally Posted by Springlering

My left brain really wants a 500.

But then, my right brain says, "idiot, remember that X-19 you used to have?"

My family and I lived very well as a result of my repairing Italian cars.

Springerling; If you ever adjusted the clutch on your X-1 9, you must remember, having to soak and wrap your whole arm in cold wet cloths or making an ash of yourself.

Donald LaFavor

[Big Panda]

Originally Posted by paroyboy

Do you have a link for these crash tests? I didnt realize the 500 was test here yet

I'm guessing that the test results mentioned were those of the current model and NOT one that was built for sale in the U.S., since they haven't BUILT one yet.

So NATURALLY it wouldn't pass OUR crash tests when it wasn't made for OUR market. DUH!

[JPaul]

From: CNN Breaking News
Date: April 30, 2009 10:09:22 AM EDT
To: textbreakingnews@ema3lsv06.turner.com
Subject: CNN Breaking News

-- Obama administration official: Chrysler will file for bankruptcy now that negotiations with creditors have collapsed.


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