Chrysler Fiat deal (bankruptcy)

[Big Panda]

Other related news......a record auction sale. $12M for a fast, fancy Fiat!

[Duckhunter]

Originally Posted by vwW12

789 Chrysler dealers x 50 employees each on average = 39,450 lost jobs.

Looks like the Presidential Task Force on the Auto Industry is doing its job!

Hate to say this but should have done this many years ago. Should have gone to more internet no haggle buying. Buying my truck was one of the worst things I had to deal with. Just let me pick the model options and give me a price. Maybe kept some service centers. They can not be profitable with all of the brick and morter costs. It would also help them if the health care costs were brought down. The private sector insurance based system we have now sucks. I do not know how to fix it but something must be done to compete with lower wage contries with government covered health care. Lets face it the privatly run auto companies did this to themselves and I do not really agree with my tax dollars going to keep them going. I grew up in Lansing, MI and it is like a ghost town from what it used to be.

[jwight]

Chrysler Group LLC, owned by Fiat, now in business.

AP, updated 36 minutes ago

NEW YORK - Italy's Fiat is the new owner of most of Chrysler's assets, closing a deal Wednesday that saves the troubled U.S. automaker from liquidation and places a new company in the hands of Fiat's CEO.

The deal creates a leaner company known as Chrysler Group LLC, which is not in bankruptcy protection and is free of billions in debt, 789 underperforming dealerships and burdensome labor costs that hobbled the old Chrysler LLC

Italy's Fiat nabs Chrysler's ?good? assets - Autos- msnbc.com

[chieftmc]

Originally Posted by jwight

Chrysler Group LLC, owned by Fiat, now in business.



Italy's Fiat nabs Chrysler's ?good? assets - Autos- msnbc.com

IF you call 35% "owned"?

55% is "owned" by the UAW

The other 10% is "government" owned

[jwight]

I'm guessing that since the new Chrysler CEO is the same guy who's the CEO of Fiat, and not somebody from the UAW, Fiat is in the driver's seat.

The United Auto Workers union will get a 55 percent stake that will be used to fund its retiree health care obligations,...

[Big Panda]

Originally Posted by chieftmc

IF you call 35% "owned"?

55% is "owned" by the UAW

The other 10% is "government" owned

Hey 'Chief', good to SEE you......EYE guess you're back in town? btw, nice avatar! Strong likeness to.....uh.....ummmm, lets see.....Marty Feldman? Bless his heart.....

Yep, we're 10% government owned (U.S. and Canada combined). Good idea? Probably not, but we're better off than GM (60% GOVERNMENT OWNED) !!!!

[Big Panda]

Originally Posted by jwight

I'm guessing that since the new Chrysler CEO is the same guy who's the CEO of Fiat, and not somebody from the UAW, Fiat is in the driver's seat.

So is that a 'right' hand or 'left' hand drivers seat??

[Old smart]

All Euro cars, with the exception of the UK and Ireland, are LHD. Channel Islands, Malta?- dunno.

[Brabus]

Originally Posted by chieftmc

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Quick,

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