Headlines today that Fiat will take a 35% stake in Chrysler, with an option to buy up to 55%. So Fiat will have the hand in the future of Chrysler. So is this a takeover good for American auto industry? Yes, it is a takeover by a foreign company.
Many early reports say that this will help both firms since Chrysler is has little or no foreign markets and Fiat has the same in the US. But, there is no money...is Chrysler so worthless that they will give a min of 35% ownership for zero cash?
If that's the case, why is the US taxpayers giving 4 BILLION to Chrysler??? And if Chrysler is now just a part of an Italian auto firm, why should we be helping them???
posted by Peter Greene
10 Weekend Reads
18 hours ago
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