A lot of the workers share your concern. We have already been down this road before. Twice. Remember Chrysler is the one who had to put up the $550 mil to build Fiats in Mexico and now they are going to pull them out in another couple years.vipermoon64 said:Is this happening so Fiat can have access to Chrysler's bank account? I see no other reason and Fiat seems to need the money.
Chrysler also reports those sales on ITS books, not Fiat's, so they have already benefited. They still build the Journey/Freemont there as well.ShadowRider said:A lot of the workers share your concern. We have already been down this road before. Twice. Remember Chrysler is the one who had to put up the $550 mil to build Fiats in Mexico and now they are going to pull them out in another couple years.
Just curious.RVC said:Regarding cash pooling: FIAT could cash pool today if the agreement didn't specifically provide for them not to. IIRC, as soon as the company goes public that impediment falls and they can cash pool regularly; if they don't go public, the agreement says they can still cash pool as soon as they reach 71%(IIRC) of the company.
You are correct, I should have said IF.MoparNorm said:Just curious.
Why is there a need to have an IPO, if Fiat assumes full or majority ownership, and pooling ability at 71%?
Fiat already has stock and with Chrysler theoretically combined into that stock, Fiat stock should rise.
Does the deal with VEBA, specifically call for an IPO as a method for VEBA to recapture benefit funds, lost in the bankruptcy?
Yes, and there's no penalty for advanced repayment IIRC (It's been a while and honeslty i have no desire to go read that stuff again ) Well, the title of the thread does say that FIAT is talking to banks, so that would take care of that. I was actually wondering why they would need to do that, since they can already pull on more than enough cash to buy out the rest of the shares.sebring96hbg said:The Senior Credit Agreement dated May 24, 2011, provided for additional firewall protection of Chrysler's cash. FIAT would have to refinance Chrysler's debt to remove the additional impediments.
I have had it for a few years. I have been restoring it. We are buying a Dart Rallye this Saturday! We are getting the 1.4 with DDCT, 8.4 Uconnect and LED racetrack tail lights.jerseyjoe said:Hi Joe in Harrisburg, good to see you active again! When did you get the Alfa?
Anyway as far as the courts protecting Chrysler that's very unpredictable. Our Supreme Court ruling on "The Merger of Equals" was its Daimlers company and they could do what they want with it ! :angry2: