Fiat Scores $4.35B Deal for Full Ownership of Chrysler

[mdh157]

FIAT is huge! They are the fourth-largest automaker in the world. They make a hell of a lot more than just cars, which include Lancia, Ferrari, and Alfa Romeo. They are the largest truck manufacturer in Europe, they build airplanes, engines, and are deeply involved in various defense projects in several nations. Their cars are built by FIAT and also under license in nearly a dozen countries. And, they've been in business nearly 25 years longer than Chrysler.

Yeah, they really are THAT big.

A little light reading: http://en.wikipedia.org/wiki/Fiat

yeah, they are real big but are managed poorly..........all those marques and still a loss of $302M

 

[Big_John]

I certainly hope this mean the next time they need a bailout that they don't get one as this is no longer an american company. Call it what you want but
i think something stinks here, I don't trust them.

They can do what they did when they were in trouble in 1977... Sell a bunch (14%) of their stock to Libya.

 

[polara71]

BUT a joke in the states ........ always has been.

 

[Fratzog]

I certainly hope this mean the next time they need a bailout that they don't get one as this is no longer an american company. Call it what you want but
i think something stinks here, I don't trust them.

Chrysler certainly could do worse than Sergio Marchionne. Although he's an accountant this description from Wikipedia of him as a car guy makes me hopeful. "A supercar enthusiast and proficient driver who frequently takes to the track with a Ferrari, Maserati or other high-performance vehicle manufactured by the group he manages, Marchionne suffered some embarrassment when he wrecked his personal Ferrari 599 GTB Fiorano while in his adopted Switzerland in 2007."

 

[saforwardlook]

Chrysler is in very good hands with Sergio Marchionne - he has turned the company around and they now build world class cars. The new Chrysler 200 will be unveiled at the Detroit Auto Show this month and is based on a Fiat platform that underpins the new Cherokee as well as the Dart. The new 200 is said to be really competitive. I am waiting to see.

As for Fiat losing money in Europe, virtually no auto companies are making money in Europe right now, as there is too much production capacity and not enough buyers in somewhat of a down market. The competition is cut throat. The German marques are doing the best there. But most of those are high end cars, except for VW. Rich get richer there too.

 

[tbm3fan]

Now that Fiat is all in the company is REALLY all in. Since they own 100% of the company they are now liable for any pension shortfall in Chrysler's pension plans. Right now the shortfall is $5.5 billion. The U.S. Pension Benefit Guaranty Corp. has been aggressive of late when it comes to companies funding their pensions. Time will tell if Fiat sinks or swims now.

http://finance.fortune.cnn.com/2014/02/05/fiat-chrysler-pensions/?source=cnn_bin

 

[70bigblockdodge]

BUT a joke in the states ........ always has been.

Fix It Again Tony

 

[67Monaco]

Now that Fiat is all in the company is REALLY all in. Since they own 100% of the company they are now liable for any pension shortfall in Chrysler's pension plans. Right now the shortfall is $5.5 billion. The U.S. Pension Benefit Guaranty Corp. has been aggressive of late when it comes to companies funding their pensions. Time will tell if Fiat sinks or swims now.

http://finance.fortune.cnn.com/2014/02/05/fiat-chrysler-pensions/?source=cnn_bin

Meh, they'll just move manufacturing outside the states, layoff the remaining union guys. Not too many will really care as long as the product is inexpensive. As the older union guys kick the bucket and head to the collectivist paradise in the sky, and not being replaced with new ones, that burden will be reduced and become more manageable.

 

[commando1]

The Unions in Europe are more expensive. They'll shift manufacturing to here. That is good.

 

[67Monaco]

The Unions in Europe are more expensive. They'll shift manufacturing to here. That is good.

No I mean like Mexico or Canadia.....

 

[commando1]

You'd like that.

 

[67Monaco]

You'd like that.

Only in a good for business way...

 

[commando1]

I'm all for anything that makes Walmart even bigger........

 

[67Monaco]

No one puts a gun to anyone's head and forces them to work there.

 

[commando1]

Wife, kids, mortgage. Thrown out of work because your job went south. It's a gun to your head. Who's shitting who. Come on...