Fiat Upping Stake in Chrysler Once More
Will control 46 percent of Chrysler this month, with additional 5 percent by end of year.
Fiat and Chrysler will share management, engineering, and global distribution.
Fiat CEO Sergio Marchionne today confirmed the $1.27 billion purchase price, and that Chrysler's financials will be consolidated into Fiat's even before majority control of the company is achieved, as Fiat already has "effective control" of Chrysler.
Chrysler is preparing for a road show, to kick off in the next few weeks, to sell company debt to investors on its way to repaying government loans -- the first steps toward selling Chrysler stock.
[Source: Detroit News.]
Chrysler should change their slogan to "Imported to Detroit".Yeah it should say Imported from Italy and maybe even China.
Does this mean that the next time they start going belly up, it will be the Italian government bailing them out as opposed to ours?Sounds good to me!
a simple emp would be enough to leave it hanging high and dry these days.Most of the military infrastructure is protected from EMP by either having redundant systems established or from the EMP shielding technology we have.
Fiat is set to spend another $1.27 billion for an additional 16 percent equity in the Detroit automaker this month, to be followed by and additional five percent -- for a majority stake of 51 percent totalWhy not go for a 100% stake in Chrysler? That way they can do what they want with out having to consult other investors. America has lost all it's advantages by whoring itself around and being huge pusses so why not sell another part of our soul to outside source? The only thing we have over everybody is our military and a simple emp would be enough to leave it hanging high and dry these days.
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