In 2000, GM bought a 20% stake in Fiat for $2.4B. However, those crafty Italians put in the contract that they could force GM to buy the remainder. By the 3rd Q of 2002, GM had written down its stake in Fiat to $220M. In 2005, GM paid Fiat $2B to get out of the deal. Tells you what GM thought of Fiat.
It won't happen, Obama will save the company by printing billions... guaranteeing a 200 point rally on the Dow.
Actually it will happen. Possibly even tonight (April 30) at midnight if a deal can't be worked out with the hedge funds that hold alot of debt.
They have to let these companies FAIL, 12pm today there will be news on where Chrysler stands, they want to a quick bankruptcy lasting only 1-2 months, how this is possible is BEYOND anyone's imagination. Its a Fu$king JOKE of a world we live in.
Who wrote the CDS if any on Chrysler debt? AIG again? http://www.thedeal.com/dealscape/2009/04/debt_revamps_hindered_by_credi.php http://online.wsj.com/article/SB124109550079373043.html
Time for AIG to receive another 50 billion from the government, to pay its counterparties with. This is a yard sale.