Posted on 06/05/2009 8:18:03 PM PDT by radar101
Fiat has said it may pull out of the deal if it is not court sanctioned by June 15.
Fiat hopes to gain a 20-per-cent stake of the new Chrysler company and virtually full management control. The majority of shares will be owned by a union health-care trust, while the US and Canadian governments will also take a slice. But Fiat could get a majority stake in future.
And I admit I don't know much about the financial aspects of a large corporation, but still, Business 101 must apply.
The dealers getting whacked, are they know for fudging 'warranty work' - does anyone even know?
What I do know is Obama and Co. will insure the surviving dealers advertise in politically correct and support his ideas type of publications.
As well as keep overpaid union guys on the payroll at the corporation level.
It doesn’t make sense to me either. The dealer buys the cars and the parts, so how can it cost Chysler or GM excess money?
As far as fudging warranty claims, many do it, if not all. Getting caught is another matter and they will catch you since they compare claims with other dealers in the zone.
In the case of the one I work at, the current owner just bought the dealership in 2005 and decided he would fare better with the Mazda end than the Dodge, which is what carried the dealer successfully for the previous owner.
However, he did wake up and begin pushing Dodge Trucks again and even moved the dealership into a brand new $10 Million facility 2 months ago.
The owner is a Democrat, so I can’t say they pulled his franchise over party, unless he didn’t contribute to Obama.
He says the dealer will remain operating, just not with Dodge any longer. He hopes to bring in another franchise or sell only Used Cars.
Mazda’s are in a separate facility on the same lot and Mazda doesn’t sell well enough to carry the whole dealership, as he found out the hard way.
But, as not only a Chrysler Certified Technician, but a long term Chrysler owner as well, they have seen the last of my money. I’ve always had good service with all my Chryslers, but trust Fiat even less than I did Daimler, who set a very profitable Car Manufacturer on the road to failure, then bailed.
I also wonder how the company will fair with the UAW running it. Seems like a conflict of interest to me.
“Obama thinks he is Benito Mussolini - worshipped by all, questioned by none.”
- - - and they hanged his body upside down by his feet in a gas station yard.
Fiat/Chrysler combo = Fiasco
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