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  1. #1
    Join Date
    Dec 2004
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    Chrysler sale final. Effective crisis management?

    Fiat now owns all of Chrysler and a very successful Chrysler at that. GM was a plum compared to this carcass and any other scenario (such as bankruptcy to save the good parts, or some sort of merger with GM) would likely have resulted in a black hole as far as jobs and production go.

    Here's three very different articles, starting with the one favorable to my opinion, which is that saving jobs was and is the most important thing, so this was a success.

    They were attending the National Automobile Dealers Association convention in New Orleans on Saturday four days after Fiat announced that it had bought the last big chunk of Chrysler stock to make the U.S. company a wholly owned subsidiary.

    "I think it's well deserved," said Pamela Burger of Carl Burger Chrysler Jeep Dodge Ram World in the San Diego suburb of La Mesa, Calif. "They picked us up out of bankruptcy when we couldn't even be bought, and have grown us over five years. ... They helped us grow instead of stripping us of money and assets."

    And, she said, "The quality gets better and better."

    Fiat has been running Chrysler since 2009 and owned nearly 60 percent of Chrysler's shares but lacked full control until Fiat-Chrysler CEO Sergio Marchionne won a hard-fought deal with the union-controlled trust fund that owned the remaining 41.5 percent of the stock. With the deal complete, Marchionne can push deeper integration and decide where the joint company will be based and listed, as well as its name.

    Clay White of Starr Motors in Suffolk, Va., praised Fiat's leadership, "which is something we didn't have with Cerberus or Daimler. Daimler just pillaged the money from Chrysler and took it back to Germany. My opinion."
    http://www.chron.com/default/article...at-5175011.php

    http://news.investors.com/ibd-editor...e.htm#comments

    http://www.forbes.com/sites/halahtou...k-is-so-cheap/
    I've got binders full of women
    and a one point plan.

  2. #2
    Join Date
    Aug 2006
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    Undisclosed Location
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    8,333
    I thought Fiat would do well since they did an amazing job rescuing their own brand especially with the advent of the 500. However, I didn't think they would turn around Chrysler so quickly.

    Sounds like Daimler was pulling a Gordon Gecko...
    "Jesus is ideal and wonderful, but you Christians -- you are not like him."

    -Gandhi

  3. #3
    Join Date
    Dec 2004
    Location
    Promised Land
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    36,139
    Quote Originally Posted by Wounded Bear View Post
    I thought Fiat would do well since they did an amazing job rescuing their own brand especially with the advent of the 500. However, I didn't think they would turn around Chrysler so quickly.

    Sounds like Daimler was pulling a Gordon Gecko...
    Actually, Fiat's doing lousy with the euro economy, so Chrysler's pulling the load (prestige item in South America according to one of the links).

    Bottom line is, lots of manufacturing plants in the USA and that whole company would have disappeared without intervention.
    I've got binders full of women
    and a one point plan.

  4. #4
    Join Date
    Apr 2003
    Location
    The Big Muddy
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    17,941
    I'm glad they made it, because my new Ram is awesome.

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