Fiat buys Chrysler

Italian automaker Fiat says it has closed a deal to take over Chrysler's good assets, forming a new company and clearing the way for the struggling Chrysler to emerge from bankruptcy protection. Full Story
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David

Show Low, AZ

#1 Jun 10, 2009
The Italian automaker won't put any money into the deal but will give Chrysler sorely needed small-car and fuel-efficient engine technology.

BS. If Fiat had such wonderful technology they would have been selling cars in the US
FoxNationPatriot

Lehigh Acres, FL

#2 Jun 10, 2009
We are now a country without law, as the legislative branch and the executive branch's actions are treason and the judicial branch refused to rein them in yesterday with this illegal Chrysler trasaction
Josh

United States

#3 Jun 10, 2009
Not necessarily. Setting up a distribution network is a difficult proposition.

“The sane guy in Chicago”

Since: Feb 08

Chicago

#4 Jun 10, 2009
Chrysler's biggest problem was its hostile takeover by Daimler. Daimler left it a shell of a company.
Taxpayer

Elmhurst, IL

#5 Jun 10, 2009
I'm not sure if its treason but un-Constitutional for sure.
FoxNationPatriot wrote:
We are now a country without law, as the legislative branch and the executive branch's actions are treason and the judicial branch refused to rein them in yesterday with this illegal Chrysler trasaction
chuck Limbaugh

AOL

#7 Jun 10, 2009
Fiat builds junk , used to sell car in usa years ago , the people I know that brought them took them into dealerships so many times, they sold them , if there cars were sooooo gooood they be selling here now .
Who cares

Ashburn, VA

#8 Jun 10, 2009
FoxNationPatriot wrote:
We are now a country without law, as the legislative branch and the executive branch's actions are treason and the judicial branch refused to rein them in yesterday with this illegal Chrysler trasaction
Who cares... the Indiana investors that sought to delay / de-rail the transaction bought the bonds at .43 cents on the dollar. They got paid .29 cents on the dollar. They bought them in June 2008. Sounds like typical stupid Indiana behavior. Whaddaya think'in? Yeah, so bondholders / secured creditors are supposed to be paid 1st. Oh well, someone got smart and used some common sense insofar that they are going to preserve thousands upon thousands of jobs, instead of liquidating the company - in which no one will gain anything. BTW, I am not a Chrysler fan. I think their quaility sucks and they should have been reorganized years ago.
Josh

United States

#9 Jun 10, 2009
Taxpayer wrote:
I'm not sure if its treason but un-Constitutional for sure.
<quoted text>
Can you reference the sections of the Constitution at issue? The Supreme Court did not seem to have a problem. But maybe you know more than they.
Mike

Concord, CA

#10 Jun 10, 2009
Wow, I guess corporate law that tiers stakeholders in the case of bankruptcy is irrelevant...

Invest away everyone
Jerry

New York, NY

#11 Jun 10, 2009
Today it was announced that Chrysler and Fiat merged.

The new company will be called

"ChryFiatCrap"
Albigensian

Morristown, NJ

#12 Jun 10, 2009
Does anyone remember that the Yugo was based on a design purchased from Fiat (it was essentially the same as a Fiat 128)?

So, what would pay for a Yugo that's been rebadged as a Jeep?
Bob

Chicago, IL

#13 Jun 10, 2009
Lets hope these car companys get the ball rolling again.
moreofthesame

Hammond, IN

#14 Jun 10, 2009
I'll never buy a Chrysler or Geithner Motors car again.
Who ever thought that GM would be known as an anti-american company.
LM Bass

Dekalb, IL

#16 Jun 10, 2009
So the union managed to get 55% ownership of this new firm. Likewise they got about 25% ownership of the new GM. The Federal government owns a share of both auto companies.

What is going on here? I suppose we should change our country's name, too. How about: United Socialist States of America (USSA)?

Note the United Auto Workers spent millions of dollars to get Obama elected to the Presidency. This certainly appears to be a nice payback to the unions. Typical...Obama is still just another corrupt Illinois politician.
CaptainObvious

Lombard, IL

#17 Jun 10, 2009
Ask the folks up at Case Construction Equipment up in Racine what Fiat ownership (under the guise of CNH) has meant for them...that is, if you can find any that still hold jobs and aren't deathly afraid to talk to you. They'll also tell you some great Sergio "Fistful of Layoffs" Marchionne stories.
Josh

United States

#19 Jun 10, 2009
CaptainObvious wrote:
Ask the folks up at Case Construction Equipment up in Racine what Fiat ownership (under the guise of CNH) has meant for them...that is, if you can find any that still hold jobs and aren't deathly afraid to talk to you. They'll also tell you some great Sergio "Fistful of Layoffs" Marchionne stories.
All Chrysler manufacturing facilities are on furlough at present. Chrysler already laid off more than 30% of its workers.

What on earth could Fiat be planing worse than that?
CaptainObvious

Lombard, IL

#20 Jun 10, 2009
Josh - As Jeremy Irons playing Claus Von Bulow ominously said in "Reversal of Fortune," "You have no idea."

Sometimes the people laid off are the lucky ones...
Taxpayer

Elmhurst, IL

#21 Jun 10, 2009
The 9th an 10th Amendments.

And I was wrong, treason does fit:

"the betrayal of a trust or confidence; breach of faith; treachery."
Josh wrote:
<quoted text>
Can you reference the sections of the Constitution at issue? The Supreme Court did not seem to have a problem. But maybe you know more than they.
BLACK CAT

AOL

#22 Jun 10, 2009
they want to get laid off -- uaw workers get 90% of their full pay .....and do nothing -- the taxpayers loose / the union pigs get fatter
Cadillac

Willowbrook, IL

#23 Jun 10, 2009
Mercedes Benz couldent get this company back on its feet!

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