Fiat-Chrysler

[oddlycalm]

Luca di Montezemolo manages to get 20% for fiat for zero investment. The banks get some cash and the hedge funds get pissed.


One of the people said Fiat initially would take a 20 percent stake in the company in exchange for its small-car and engine technology. Initially Fiat would not invest any cash

Fiat to sign partnership deal (http://news.yahoo.com/s/ap/20090429/ap_on_bi_ge/us_chrysler_fiat;_ylt=AlRr4ttcA1P_45BhG7.uBJJ34T0D )

oc

[chop456]

...And in return, Fiat-owned Ferrari, SpA, would be granted access to racing technologies developed by Chrysler's NASCAR engineering program. The Maranello-based squad is currently at the bottom of the Formula One standings. Fiat chairman Luca di Montezemolo was quoted as saying "What the hell - it can't get any worse, right?"



All true, except the parts I made up.

[Sean Malone]

All true, except the parts I made up.

:rofl: