Word: auto
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...auto industry crisis was beginning to look complicated, the latest news from Chrysler is sure to make it a head spinner. The deal announced this week not only gives Italy's Fiat S.p.A. a flexible stake in Chrysler, but turns the ultimate control of the automaker into the financial equivalent of a five lane roundabout...
...with access to Chrysler's assembly plants and its distribution network, which stretches across North America. The companies have long been considered a good "fit" because Chrysler's footprint in North America complements Fiat's strength in Europe and South America. (See the best cars from the 2009 Detroit Auto Show...
...director at the Bolivian Mining Corporation (COMIBOL), the operative wing of the Mining Ministry, seems to agree. "We know that we lack know-how and that we need investment to pull this off," says Villegas, pointing out that the government has formed a scientific committee made up of auto experts and representatives from car companies worldwide...
...which is new infrastructure spending. Taxes on some real estate transactions were also suspended late last year to boost the sagging property sector, which accounts for some 10% of national employment. More steps are likely to come. Analysts expect the government to introduce measures to support the steel and auto industries...
Indeed, large industrial groups such as carmakers Renault and PSA (which makes Peugeots and Citroëns) are now responding to the massive slow-down in the auto sector by temporarily closing plants and imposing stored or anticipated time off on workers under their retained 35-hour schemes. That may not be how employees had planned to use their time off, but it beats being laid...