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U.S. Pushed Fiat Deal on Chrysler

hypocritexposer

Well-known member
WASHINGTON -- The Obama administration rushed an alliance between Chrysler LLC and Fiat SpA despite Chrysler's worries about Fiat's financial health and its willingness to share technology, according to internal company emails.

The emails show Fiat ignoring requests for documents and trying to change contract terms late in the talks. A Chrysler adviser at one point said the deal risked looking as if the U.S. auto maker and the Treasury Department, which helped broker the pact, were "in bed with a shady partner." In another note, an official referred to the Treasury Department as "God."

http://online.wsj.com/article/SB124424451815990495.html
 

Steve

Well-known member
This Crysler-Fiat merger reminds me of the 1979-1987 American Motors Company-Renault Alliance (no pun intended).



* The Renault 5 Le Car (“Americans are going to love this small European car”) is now the Fiat 500 (“Americans are going to love this small European car”).

* Renault´s reliability (or lack of it) then was on par with Fiat´s reliability now.

* There was a recession then, as now.

The big difference: I think that the Chrysler-Fiat affaire is going to last much, much LESS TIME than the 8 years that the AMC-Renault did.

How ironic that finally Chrysler bought the remnants of AMC to Renault in 1987. History makes full circle.

there are some differences in the comparison..

and Obama is president now, Jimmy Carter was president when the AMC/renault deal was made.. Jimmy didn't do anything, Obama didn't doing anything right...

for us oldtimers it's just like 1977 again.... :roll: :roll: :wink: (sarcasm)
 
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