Rick Knoble wrote:
On Jan 29, 2014, at 5:39 PM, "Craig" <diese...@pisquared.net> wrote:
I just heard on the news that FIAT and Chrysler are joining forces.
I wonder if that will be any better than Daimler and Chrysler.
IMHO, Fiat will pilfer what they can from Chrysler, and spin off or part out the remains. Chrysler is dead. They just don't know it yet.
I hope I am wrong. The US taxpayer will be saddled with the pension and healthcare costs of another failed company.
IIRC, the UAW took over the pension, and the government took the company away
from the secured creditors and gave much of the stock to the union pension fund.
The billions involved in FIAT buying the last 41% from the pension fund should
help, at least until UAW management finds a way to move the money into their
pockets.
Mitch.
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