Word: fiat
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Dates: during 2000-2009
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...present, Chrysler officials believe Fiat is indeed serious about the deal. Fiat executives came through Chrysler's design studios in Auburn Hills in mid-December to look at Chrysler's latest designs and future products, says Chrysler vice president Ralph Gilles, who believes they left with a better understanding of where the company is headed from a design perspective and of Chrysler's potential. "We're very flexible," he added...
...agreement doesn't require Fiat to sink any cash into the Chrysler. Nevertheless, the Italian industrial group would get the initial 35% stake along 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...
Chrysler, in turn, will gain access to Fiat's latest products and technology, including Fiat's nifty little city car, the Fiat 500. The deal raised morale at Chrysler's headquarters and technical centers in Auburn Hills, which had been hit hard by layoffs since September. "I think everyone felt a lot better," said one senior Chrysler official...
...With Fiat now in Chrysler's picture, though, there's more optimism than dread. Notes Sean McAlinden, vice president of research at the Center For Automotive Research in Ann Arbor: "The thing you have to remember about Chrysler is that it seems to have more lives than...
...become a tool for fighting the recession. Putting Fiat with Chrysler together is an excuse for letting tens of thousand of people go. The same would be true with a Pfizer deal to pick up Wyeth.These mergers do more to destroy the overall economy than they do to create new products and services which might help restart demand from customers and haul the economy out of its hole...