Fiat Says Chrysler, Jeep Production May Move to Italy

So how's that auto bailout working for you?

From the article:

The whole auto industry bailout process was rushed through with the wrong primary motivation of protecting the politically powerful UAW's interests. The Obama Administration never considered that giving Chrysler to Fiat was not a great idea and could eventually hurt the same UAW workers it was trying to protect. Manufacturers like Chrysler and GM are at a competitive disadvantage due to UAW obligations that were not properly addressed in the bankruptcy process. The industry is more competitive than ever and the government does not seem to be the best innovators to lead the sector to real health. This truth is very likely to become more apparent when the political season ends.

Yeah. Great idea, Mr. President. You saved a lot jobs, in China and Italy.

See the entire article here:

http://nlpc.org/cached/fiat-says-chr...may-move-italy

So how's that auto bailout working for you?

From the article:

The whole auto industry bailout process was rushed through with the wrong primary motivation of protecting the politically powerful UAW's interests. The Obama Administration never considered that giving Chrysler to Fiat was not a great idea and could eventually hurt the same UAW workers it was trying to protect. Manufacturers like Chrysler and GM are at a competitive disadvantage due to UAW obligations that were not properly addressed in the bankruptcy process. The industry is more competitive than ever and the government does not seem to be the best innovators to lead the sector to real health. This truth is very likely to become more apparent when the political season ends.

Yeah. Great idea, Mr. President. You saved a lot jobs, in China and Italy.

See the entire article here:

http://nlpc.org/cached/fiat-says-chr...may-move-italy Originally Posted by CuteOldGuy

Obie GAVE Fiat Chrysler ?



http://www.reuters.com/article/2012/...8LT93I20121029

No CJ; Obie gave Chrysler billions in taxpayer bailouts so they could move to Italy. BTW, this deal was worked out months ago when the european AWU was renegotiating their labor agreements.

Here is some funny background on Obama, Chrysler and Clinton.....apparently Obama's first car was a chrysler, or was it a Datsun, or was it a Ford Granada...

Oh well, as usual, Obama lies to fit the emotions of the moment....

http://weeklystandard.com/blogs/clin...ad_658105.html

There's that LIE word again.

We're so desensitized to the use of the word LIE that guys like you become big men... in your own mind.

You fucking liar!

A lie is a lie, Assup. Even if you don't want to admit it, a lie is still a lie. Obama lies even when he doesn't have to. It's part of his nature.

No CJ; Obie gave Chrysler billions in taxpayer bailouts so they could move to Italy. BTW, this deal was worked out months ago when the european AWU was renegotiating their labor agreements. Originally Posted by Whirlaway

feel free to quote the date and the president that handed the car boys the bailout $$

I'll wait

A lie is a lie, Assup. Even if you don't want to admit it, a lie is still a lie. Obama lies even when he doesn't have to. It's part of his nature. Originally Posted by CuteOldGuy

And a new television ad airing in Toledo and Youngstown, Ohio, the Romney campaign raises the specter of production of Jeeps moving from the U.S. to China, an assertion which Jeep's Italian parent company has said is blatantly false.


apparently YOU lied COF, admit it.

The U.S government sold its shares in Chrysler at an estimated loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial “investment” that resurrected the troubled auto company. Italian automaker Fiat, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government’s remaining 98,000 shares in the auto company for $560 million.

The story of loss continues at Chrysler, where the SIG reports that "taxpayers suffered a $2.9 billion loss on theTARP investment in Chrysler." Total losses are likely to be just short of $5 billion, since "Treasury also retains the right to recover proceeds from Old Chrysler’s bankruptcy, but, according to Treasury, it is unlikely to fully recover its $1.9 billion loan."

The U.S government sold its shares in Chrysler at an estimated loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial “investment” that resurrected the troubled auto company. Italian automaker Fiat, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government’s remaining 98,000 shares in the auto company for $560 million.

The story of loss continues at Chrysler, where the SIG reports that "taxpayers suffered a $2.9 billion loss on theTARP investment in Chrysler." Total losses are likely to be just short of $5 billion, since "Treasury also retains the right to recover proceeds from Old Chrysler’s bankruptcy, but, according to Treasury, it is unlikely to fully recover its $1.9 billion loan." Originally Posted by Whirlaway

yet another republican fuck up ... Thanks Bush.

First you say it didn't happen, CBJ7, then you say it's Bush's fault.

Obamaton for sure.

First you say it didn't happen, CBJ7, then you say it's Bush's fault.

Obamaton for sure. Originally Posted by CuteOldGuy

when did I say it didnt happen?

seriously?

Chrysler got the cash in 2009 so they could emerge from bankruptcy and merge with Fiat.
The US treasury lost over a billion dollars on the deal.

Yeah. Great idea, Mr. President. You saved a lot jobs, in China and Italy. Originally Posted by CuteOldGuy

Not that it will matter to StupidOldFart but "Chrysler issued a statement early Thursday flatly denying it has any plans to move Jeep output to China from the United States."

"Let's set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It's simply reviewing the opportunities to return Jeep output to China for the world's largest auto market. U.S. Jeep assembly lines will continue to stay in operation," said Chrysler spokesman Gualberto Ranieri.

StupidOldFart never lets the truth stand in the way of the story he wants to tell! StupidOldFart has less credibility than Marshy or Joe the Bloehard!


From The Detroit News: http://www.detroitnews.com/article/2...#ixzz2AkOoWyNB

BigTurd, the decisions aren't made in Detroit.

To counter the severe slump in European sales, Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said.

http://www.businessweek.com/news/201...-19-billion#p1

By the way, the Detroit News endorsed Romney.