AFSCME 3357-HOF'S BLOG

Breaking News - Fiat to Acquire 35% Stake In Chrysler
Terms: No money Down - No Money Ever

How much would you pay for Chrysler, LLC? Well, that's what Fiat is paying for a 35% stake. In a joint announcement of a "strategic partnership" Fiat will be buying a 35% stake in Chrysler, and as far as I can tell, the only thing Fiat is paying for it is the promise to share its products and technology. There's no promise of cash contribution to Chrysler now or ever.

While it's good that Chrysler dealers would have something to sell. It's not so good that for the foreseeable future, all of the new product would be imported. Yes, Fiat could sell Chrysler products overseas, but how popular do you expect the Dodge Durango to be overseas?

I predict a taxpayer revolt if Chrysler goes back to Uncle Sugar for more money.