It looks like we were lied to in 2009. Once the loans are paid off FIAT is going to have a 51% share in Chrysler and says they will merge the two companies into one. If you recall, Our Lord and Savior Obama said that FIAT would never own Chrysler, it would be a "partnership of equals". Merchionne said the same thing several times, adding that what happened with DaimlerSh!t would not happen in this case. The interesting thing is that FIAT isn't really going to pay another dime. They with their 35% shares and some other shareholders are voting to generate more shares, diluting the other shareholders % of ownership and giving the new shares to FIAT for "equity" that FIAT has in partnership already. Basically, they are making more stock out of thin air to give themselves control of the company. This, my friends, is WORSE than what DaimlerSh!t did.If the FTC lets this go through, this time there will be no Chrysler left. FIAT will be sole owner of Chrysler group with no American input and the three Chrysler brands nothing more than FIAT nameplates and nothing else.
Only thing I got from the post is that Fiat is going to buy the debt from the US treasury. Boosting their stake up to 59%. Not sure what their true intentions are but I would think it was for the sake of the company. Sorta like an IOU to Fiat for helping them get chrysler out of the government loans. The US treasury is the last person I want a loan through. That is why or economy is the way it is. Pisses me off just thinkin about it.
It is odd how much Yahoo has changed the story from this morning. In the first edition it said that FIAT and other stakeholders had agreed to make several million new shares, of which FIAT would be the beneficiary, that would allow the buyout of the Federal loans. Now there is no mention of the new stocks. Curious. Now there is no mention of that detail.