January 21, 2009
Chrysler "Alliance" with Fiat: Giveaway Funded by the US?
Chrysler is selling 35 percent of itself and a warrant for another 20 percent to Fiat. The price? No Fiat cash. Fiat puts in technology and new products. The warrant strike price is set at a measly $25 million. The government must put in another $3 billion to make the deal work. So, in essence, the government is paying Fiat $3 billion to take 55 percent of the company and see is they can make a go of it with their new products. Do we believe Fiat will save Chrysler's American jobs?
January 21, 2009 | Permalink
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