Boy, you have to hand it to Fiat "Supremo" Sergio Marchionne, he really is the "Magic Man". You know when I was a little boy, I actually believed in magic. Today it seems all the adults around me believe in magic.
United States President Barack Obama believes in magic. Canadian Prime Minister Stephen Harper believes in magic. Oh, and so does Ontario finance minister Dwight Duncan. This is the only way to explain the bill of goods or bull we are being sold regarding the restructuring of Chrysler and General Motors.
Look, now let's get one thing straight. I, like millions of others, want the North American based auto sector to survive and prosper. But, I and millions of others want the straight goods. We want to know the details. Not just a few sound bites or a few shallow print stories like we have been getting from the likes of Windsor Star "super snooper" Grace Macaluso. In the interest of Fair Play, we, the Canadian Tax Payers, have paid for the right to know the "ins and outs" of this deal. We in Windsor Essex especially need to know the details of any and all commitments. The future of our region is on the line.
This is what we know so far about the Magic Show.
Fiat will get 20% of Chrysler for free, or, as the experts say, for a "transfer of technology". Boy, you have to hand it to those Italians; they are master magicians when it comes to negotiations. Then Fiat can earn anotherrrrrr 15% of Chrysler and now --presto!!-- they have 35%. Maybe Windsor Star Chief Honcho Jim Venney can have "super snooper" Grace Macaluso explain how Fiat will earn this extra 15%. I am sure Windsor Essex residents would love to know.That would be an excellent start to her next assignment.
Fiat is in talks to secure General Motors' operations in Europe, especially Opel, and needs the help of the German Government to do so.
Fiat is doing deals in India, China and Russia at least. The bigggg question, "will Fiat be selling our Chrysler products there"? Can anyone tell us?
Fiat's Marchionne says no Fiat plant closures in Italy or Germany. Read my post of May 19/09.
What else do we know! You have got to read this story from the BBC, just click on the quote below. I have lifted an important sentence just to get you interested.
"Germany's Economy Minister Karl-Theodor zu Guttenberg has confirmed that Fiat is seeking up to 7bn euros of loan guarantees from various European governments, both to cover the purchase price and GM Europe's debt and pension obligations."
Another sentence from the same BBC story.
"The Fiat plan to form an alliance with Opel appears to be predicated, like its deal with Chrysler, on there being no capital risk to the Italian company, and on no additional debts being accrued," says Mr Urquhart.
OK now:
So far, just a few magic tricks, I guess.
United States President Barack Obama believes in magic. Canadian Prime Minister Stephen Harper believes in magic. Oh, and so does Ontario finance minister Dwight Duncan. This is the only way to explain the bill of goods or bull we are being sold regarding the restructuring of Chrysler and General Motors.
Look, now let's get one thing straight. I, like millions of others, want the North American based auto sector to survive and prosper. But, I and millions of others want the straight goods. We want to know the details. Not just a few sound bites or a few shallow print stories like we have been getting from the likes of Windsor Star "super snooper" Grace Macaluso. In the interest of Fair Play, we, the Canadian Tax Payers, have paid for the right to know the "ins and outs" of this deal. We in Windsor Essex especially need to know the details of any and all commitments. The future of our region is on the line.
This is what we know so far about the Magic Show.
Fiat will get 20% of Chrysler for free, or, as the experts say, for a "transfer of technology". Boy, you have to hand it to those Italians; they are master magicians when it comes to negotiations. Then Fiat can earn anotherrrrrr 15% of Chrysler and now --presto!!-- they have 35%. Maybe Windsor Star Chief Honcho Jim Venney can have "super snooper" Grace Macaluso explain how Fiat will earn this extra 15%. I am sure Windsor Essex residents would love to know.That would be an excellent start to her next assignment.
Fiat is in talks to secure General Motors' operations in Europe, especially Opel, and needs the help of the German Government to do so.
Fiat is doing deals in India, China and Russia at least. The bigggg question, "will Fiat be selling our Chrysler products there"? Can anyone tell us?
Fiat's Marchionne says no Fiat plant closures in Italy or Germany. Read my post of May 19/09.
What else do we know! You have got to read this story from the BBC, just click on the quote below. I have lifted an important sentence just to get you interested.
"Germany's Economy Minister Karl-Theodor zu Guttenberg has confirmed that Fiat is seeking up to 7bn euros of loan guarantees from various European governments, both to cover the purchase price and GM Europe's debt and pension obligations."
Another sentence from the same BBC story.
"The Fiat plan to form an alliance with Opel appears to be predicated, like its deal with Chrysler, on there being no capital risk to the Italian company, and on no additional debts being accrued," says Mr Urquhart.
OK now:
- Fiat gets a big part of Chrysler for free
- To make everything work, Fiat needs to take over Opel and for this Fiat needs a bigggg cheque from the German government
- No capital risk for Fiat
- Plants and pensions protected in Italy and Germany.
So far, just a few magic tricks, I guess.
