Chrysler has 30 days to partner with Fiat, will get $6 billion

Barack Obama’s auto task force is highly disappointed in GM and Chrysler and has given both automakers failing grades for their turnaround efforts. We’ll get more official details later today, but White House officials have said that President Barack Obama is willing to provide an additional $6 billion to Chrysler, only if it can wrap up its proposed alliance with Fiat S.p.A in 30 days.

If Chrysler fails to close a deal with Fiat and give it a 35 percent stake by...
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woood - 3/30/2009 9:33:02 AM

+3 Boost

Its not gonna be easy for these big corporations. IMO, its still the Chinese automakers who should be buying a big piece of Chrysler because they are very liquid and they have the full backing of their government. Plus, they're the most eager to go into the US market. Business-wise.

LexSucks - 3/30/2009 10:44:02 AM

+1 Boost

If it brings back some of the foreign makes I’m all for it. I miss the days when we had Rover, Alfa, Austin, MG, Fiat, Peugeot and Renault in America.

doctorproctor - 3/30/2009 3:35:47 PM

0 Boost

Oh yes, I remember all those 'rusty rovers', 'anemic austin's', 'failing fiat's' and 'unreliable renault's'....no thanks!

LexSucks - 3/31/2009 4:55:55 PM

+1 Boost

Dude,

you need to get out of the seventies.

mini22 - 3/30/2009 3:10:12 PM

+1 Boost

Union tools. The unions will essentially will have little power if GM/Chrysler go into a structured bankruptsy.I do hope that Chrysler can convince the auto task force that it can remain solvent with Fiat's help.Although I have to say I'm not quite sure how. The reason is even if they get the 6 billion what does that give them in time 3 months to survive. I now question why Cerberus bought Chrysler in the 1st place. They could not have predicted this financial crisis.What do they get out of all this?Perhaps they do have contacts with the Chinese.So if Chrysler has to declare bankruptsy and they own it do they simply write it off as bad debt and declare a loss against taxes owed?

Jordanski - 3/30/2009 8:40:44 PM

-1 Boost

Can Chrysler just die already?

tecnopolis - 3/30/2009 9:50:32 PM

+1 Boost

Chrysler needs an entry-level car on the scale of the VW bug.

neutral - 3/30/2009 11:31:34 PM

+3 Boost

Am I the only one that is somewhat excited about Chrysler & Fiat? That means we get Fiats here in USA (and hopefully more alfa romeos) and Chrysler/Dodge/Jeep gets a global sales network.

So, more dodge rams & jeeps in Africa/S. America, and more cool euro cars stateside.

This is bad?