Posted on March 28th, 2009 • by Bill Cawthon
Sergio Marchionne, Fiat SpA’s CEO, told reporters that the terms of proposed alliance with Chrysler will likely change based on the decisions of President Obama’s auto task force. The President is expected to make the announcement of the task force’s recommendations on Monday. “There undoubtedly are going to be adjustments made.” Marchionne told reporters after [...]
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Posted on March 26th, 2009 • by Bill Cawthon
The Wall Street Journal reports the Auto Task Force set up by President Obama sees a viable future for both Chrysler and General Motors and is prepared to approve additional loans. However, the money will come with a firm timeline for improvement and conditions that will entail sacrifices by management, unions and bondholders. Task Force [...]
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Posted on March 21st, 2009 • by Bill Cawthon
Chrysler has issued an update to its earlier statements that Fiat SpA would assume liability for a portion of Chrysler’s debt equal to the Italian automaker’s stake in the alliance. In a statement issued on Friday, Chrysler said: “As a potential result of the ongoing discussions taking place related to the Fiat alliance, Fiat would [...]
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