Word: partnerships
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...General Motors fights for survival, the catalog of its recent woes must include the name Fiat. Not only did a 2000 partnership between the U.S. and Italian carmakers sputter badly - as the two companies struggled to find consumer-friendly models and integrate their production facilities - but also GM was eventually forced into an unprecedented $2 billion "divorce" payout to avoid having to purchase the then debt-plagued Fiat...
...both American and European carmakers face plummeting sales and an industry in flux, the storied Turin automaker is set to return to Detroit for a new, though less fixed, marriage. Fiat and Chrysler announced a nonbinding deal Tuesday to create a partnership that will give the Italian automaker a 35% stake in the smallest of the badly strapped American Big Three. The joint announcement stipulated that Fiat's commitment to its struggling partner would be solely an equity interest and that "the alliance does not contemplate that Fiat would make a cash investment in Chrysler or commit to funding Chrysler...
...received last month to help keep it afloat, and the additional $3 billion it hopes to obtain in March, carries the stipulation that the company move quickly to find ways to produce smaller, more fuel-efficient models, which have long been Fiat's bread and butter. "A Chrysler-Fiat partnership is a great fit," said Chrysler chairman Bob Nardelli in the joint communiqué. "It creates the potential for a powerful new global competitor." Nardelli pointed to Fiat's "competitive, fuel-efficient vehicle platforms, powertrain and components" as well as its distribution outside North America, including sales networks in Asia...
...Politicians from Italy's rich north tried to block the deal because Air France has promised to shift Italy's main hub from Milan's Malpensa back to Rome. On Monday, Milan mayor Letizia Moratti pleaded in vain for Alitalia's managers to reconsider a partnership with German carrier Lufthansa...
...said.Powers explained that he is focused on the future. “We’re going to try to give music a legitimate go,” he said.THE FUTUREBesides recording and promotion, Veritas has a number of plans for the spring. Chief among these is its partnership with Rolling Stone magazine to host “Rock Hard,” a Boston-wide search for the best college bands.The idea originated with Spaniola, who decided to approach Rolling Stone, a long-time sponsor of Veritas. The magazine responded enthusiastically, and the plans have since expanded to include...