Supreme court holds up Chrystler sale to Fiat

Joined: 22 Dec 2007 Posts: 461

www.marketwatch.com/story/supreme-court-holds-up-chrysler-sale-to-fiat

This is an organization chart of how bankrupcies usually go
http://www.bankruptcyvisuals.com/viewcharts.html

As you can see it has many steps and each one seems to take weeks if not months

Now in most respects this wouldn't be so bad if it wasn't for the fact that Fiat gave Chrystler up to June 15th to finalize the deal. So if the supreme court doesn't settle this in a week Fiat under the terms of agreement can walk away. Oddly enough GM is moving pretty fast after the bankruptcy...Opel to Magma, Saturn to Penske, Hummer to china etc.

Joined: 22 Dec 2007 Posts: 461

http://www.cnbc.com/id/31194105

Well now it's not blocked but there's more lawsuits.

"Five consumer groups and three individuals with pending cases challenged a provision of the sale agreement that releases the new company from pending and future product liability claims involving vehicles sold before the new company's creation."

Hmmm who knows at this point. I can see the safety aspect if there is a recall currently going on.

Joined: 26 Aug 2008 Posts: 306

I am not seeing the other pending lawsuits listed in that article, I'll take your word for it.

I can understand the premise behind such lawsuits, but I have no issue with Fiat not being held responsible for future product liability claims. Listen, the other option without Fiat was complete liquidation unless we wanted a government ran automaker.

Joined: 06 Jul 2003 Posts: 8380 Location: Central CA

According to the chief windbag propagandist from the EIB network, that's what we have.

And yet another right wing blowhard is urging everyone to boycott Chrysler products. These folks aren't going to be satisfied with anything less than total destruction of the UAW, their second fondest goal right after seeing Obama... and therefore the American economy fail.

And of course it would be another step toward getting their THIRD fondest wish, that being that American workers be forced to work for Mexican or Chinese wages while still coping with the American cost of living.

They don't give a damn what happens to the millions already out of work or the hundreds of thousands that would BE out of work with their idiotic obstructionist boycott just so it puts more money in the pockets of fat cat turdbosses and incidentally, in their own.

Joined: 22 Dec 2007 Posts: 461

It looks like the deal is approved. I doubt that any lawsuits would do much.

From what I understand it looks like they are going to keep the Dodge and Jeep (the brand never dies does it!) names but not Chrystler. So if you are tempted to buy something you might want to keep that in mind.

GM I've read has some buyers interested in Saab. if that works then it's mostly just pontiac that is totally dropped.

Phil Labou of NBC was saying earlier today that the offical new products of Fiat will take about 1.5 to 2.5 years to come out. No one knows exactly what models would be made. Different models might require different chasses but on the same point if they retrofit the older plants that in itself can create some work.

Just to note though there was a boycott over GM going on for years due to their privacy issues with the Onstar product (it can listen to conversations)
http://blog.makezine.com/archive/2005/07/onstar_eavesdro.html#comments
www.boycottonstar.com

Onstar is a gps unit that does record location as well as speed
www.openminds.net/onstar

Joined: 26 Aug 2008 Posts: 306

I have heard the you will probably start seeing a few Fiat models in Chrysler showrooms possible by the first quater of 2010, but they would all be Fiat specific imports at that point. I;ve read the same timeframe otherwise concerning new CHrysler/Fiat product in the US.

Joined: 22 Dec 2007 Posts: 461

I've read that this might also bring Alfa Romero back to the country. Granted I don't know anyone that can buy one...

	Forum Index -> Politics Schmolitics	All times are GMT
Page 1 of 1