Treasury to sell remaining Chrysler stake to Fiat

unionmom

unionmom

Pursuit Driver
The Treasury said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat (FIA.MI) in a deal that will net Washington $560 million.

The proceeds of the deal include the sale of the government's interest in a United Auto Workers healthcare trust fund, Treasury said in a mid-evening statement...
Click to expand...
link to full article
 
As an old Mopar guy...I'm glad Chrysler survived, but saddened that it's no longer an American company.
 
I can't believe we're walking away from over $1B AND selling out to a foreign company. Fabulous waste of my taxpayer money.
 
unionmom said:
I can't believe we're walking away from over $1B AND selling out to a foreign company. Fabulous waste of my taxpayer money.
Click to expand...
I'm pretty sure the Obama administration always wanted to get rid of Chrysler. They wanted it to fail, but since it hasn't they can make it no longer an American company.
 
Fiat wanted to buy Chrysler long before the bailout. This is interesting. I wonder if Obama will have a seat on Fiat's board of directors when he leaves the WH?
 
Foxmeister said:
Fiat wanted to buy Chrysler long before the bailout. This is interesting. I wonder if Obama will have a seat on Fiat's board of directors when he leaves the WH?
Click to expand...
They have better sense then that!
 
Fiat is still trying to decide whether or not to move their headquarters to the US and become a naturalized corporate citizen. They very plainly stated that that option was contingent upon borrowing and tax opportunities in the US vs. Italy.

The funny thing is that this is a two way street. How long until Ford, Microsoft, Cisco, Google, Caterpillar, etc. begin to shop their sovereignty to the highest (or tax lowest) bidder as they have suggested is an option?
 
lotstodo said:
Fiat is still trying to decide whether or not to move their headquarters to the US and become a naturalized corporate citizen. They very plainly stated that that option was contingent upon borrowing and tax opportunities in the US vs. Italy.

The funny thing is that this is a two way street. How long until Ford, Microsoft, Cisco, Google, Caterpillar, etc. begin to shop their sovereignty to the highest (or tax lowest) bidder as they have suggested is an option?
Click to expand...

Big business has been doing that for a very long time, even right here in Paulding County.
 
You must log in or register to reply here.
Back
Top