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Ahhh filing for bankruptcy. Or how to avoid paying your debts. :rolleyes:

They are going to kill off many of their suppliers if this happens. :tut:
 

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Its Chapter 11 and is envisaged to be 30-60 days only. Fiat are confirmed to hold 20% rising to 35% after conditions met. I think its a shrewd move from Mr Marchionne
 

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Its Chapter 11 and is envisaged to be 30-60 days only. Fiat are confirmed to hold 20% rising to 35% after conditions met. I think its a shrewd move from Mr Marchionne
but 35% of nothing, is nothing, right?
 

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Is that the Fiat merger down the pan then?
Did you read the article?

Looks like a platform for reintroducing Alfa then through the Chrysler Dealer Network, wonder how that'll work out and what will be changed about euro spec alfa's for US market.
 
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Somewhat as an aside, does anyone watch the "Dog Whisperer"? Cesar's vehicles are supplied by Chrysler. Would be interesting to see him turn up in a 159 SW with a couple of dogs in the back. :)
 

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Don't know if you get "Inspector Rex" (really cheesy Austrian TV show involving a police dog) in the UK, but the hero drives an Alfa.

Anyway, back on topic, this is a risky strategy for Fiat, but Marchionne seems to have it worked out. There was an interesting article in this week's Economist on his motives:

An industrial poker player to the rescue | Pedal to the metal | The Economist

You never know, this could be a win. Admittedly, Daimler's experience with Chrysler is not encouraging, but this could end up with Fiat achieving enough critical mass to survive the coming shakeout in the car industry. And if Alfas have to meet US consumer law requirements, their manufacturing quality control will have to improve a bit!
 

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but 35% of nothing, is nothing, right?
Fiat has all the upside and no downside, except for management time. If Marchionne takes his eyes off the Fiat ball, the company may suffer but Fiat is not exposed to any losses from Chrysler as they are getting any equity essentially for free.
 

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This deal is now looking a whole lot better with the USA announcing targets for car emissions. The US wants 35mpg across a manufacturers fleet within a few years. With Fiats engines already developed and in production they should be at an advantage..
 

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I think the world could afford to lose a company like Chrysler ;). They were always full of bad ideas and are now totally out of ideas.
 
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