Sergio Marchionne, the chief executive of Fiat SpA told the White House auto task force last week that the Italian automaker could help Chrysler LLC recover and repay the billions it is borrowing from the government.
Like the old Spaghetti Westerns of the ‘60s (many starring Clint Eastwood) the Italians ride in to save the day! Hooray! Bravo! American shortsightedness got Chrysler into this mess, and Italian ingenuity is going to get them out of it. It IS a small world after all!
I’m half Italian, so I’m biased, but I have to believe that this is a great move for Chrysler or they wouldn’t be doing it. It’s good news for bloggers too. With so many negative stories out there in the automotive news world right now, this is a positive note.
It’s also a very smart move by Fiat. They won’t have to pay a single dime out of pocket, while attaining 35% of Chrysler. What they will bring to the table is their cutting-edge technology, wise business practices (and hopefully a nice bottle of Chianti and a little antipasti).
One thing you have to say about the opportunistic Italians is that they’re smart. You notice they’re not trying to help GM, are they? (How do you say “bankruptcy” in Italian?) They see something in Chrysler that they believe will lead to the carmaker’s eventual recovery and long-term success. And that’s very good news.
Read the story that appeared in the Detroit News after the jump:
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