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Yoinks! :eek:

Marelli stuff is generally pretty good. Hopefully the Japanese won't degrade the quality.


Ralf S.
 

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I think that sounds like Fiat Chrysler is getting taken advantage of, and quite badly. I mean they're actually going to have to sell off an asset and forego future revenues. See, they're making a sacrifice. This is bad management.

Good management is when you get money for nothing at taxpayers' expense.

Closing in on a decade since the Harper government doled out nearly $14 billion to Chrysler Canada and General Motors Canada, Ottawa has written off $2.6 billion owed to taxpayers by a defunct arm of Chrysler.

Not that one would even know which corporate deadbeat failed to pay. As CBC News pointed out in first reporting the details of the write-off, the Public Accounts report made no mention of the recipient of the loan. Only that the money came from Global Affairs by way of Export Development Canada’s Canada Account.

Just a single line item, down to the last dollar of unpaid principal and interest: $2,595,974,536.

A spokesperson for Global Affairs confirmed to CBC the dud loan was to “Old Chrysler”, an accounting entity formed when Chrysler collapsed in 2009. In order for “New Chrysler” to live, “Old Chrysler” had to die, taking billions in bailout money with it.
https://www.macleans.ca/opinion/canadian-taxpayers-secretive-2-6-billion-gift-to-chrysler/
In contrast, GM paid back a similar loan.
 
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