[Allpar News System]

Italian financial newspaper Il Sole 24 Ore, as well as Reuters and Bloomberg News are reporting on comments made yesterday by Fiat/Chrysler CEO Sergio Marchionne. In his first public appearance since canceling engagements at the Frankfurt Auto Show, Marchionne was in Turin to sign an agreement with the city for the preservation of the La Maddelena lighthouse. Marchionne told reporters that the UAW retiree healthcare trust, best known as the VEBA, could move forward with an initial public offering of at least part of its stake in Chrysler Group as soon as the first quarter of 2014. Marchionne said it might happen sooner but he believes there isn't enough market demand at the current time for the VEBA to maximize its return. The VEBA hopes to realize $5 billion from the sale of the 41.5% ownership but Marchionne said, "It's better that they buy a lottery ticket." Fiat values the..

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[66coronet]

If the Union over prices the shares, It keeps Marchionne at bay. Thus keeping it part of the USA and a say what is produced.
If Marchionne is replaced someday they (Fiat) could faze out Chrysler.
I'm all for the Union not selling to Fiat.

 

[Moparian]

If the Union over prices the shares, It keeps Marchionne at bay. Thus keeping it part of the USA and a say what is produced.
If Marchionne is replaced someday they (Fiat) could faze out Chrysler.
I'm all for the Union not selling to Fiat.

Doom and gloom much? Fiat owns the majority stake in Chrysler so they have control over what is produced regardless of VEBA. Its not like Fiat is just going to buy up the rest of the stakes, pack up Auburn Hills and ship it to Turin. :frusty:

 

[jerseyjoe]

The retired share holders deserve the right to secure their future, a deal is a deal and it needs to be honored.