Obama issues decree to Chrysler: Merge with Fiat
Posted by danishova on March 30, 2009
Fiat \Fi"at\, n. An authoritative command or order to do something; an effectual decree.
…Fiat has been in negotiations with the Obama administration’s task force, and the government said on Monday that Fiat is viewed as the only route to survival for Chrysler….
…Without a Fiat deal, the administration said Chrysler won’t receive any more taxpayer dollars. The administration expressed confidence GM can survive with more drastic action….
…If Fiat and Chrysler reach a definitive alliance agreement, the government would consider investing as much as $6 billion more in Chrysler….
…GM was also told in no uncertain terms that it must learn to make money on smaller cars–not just trucks and sport-utility vehicles…
Is that like telling a bank it must learn to make money by giving loans to people who can’t possibly pay them back?