finknottle Posted June 11, 2009 Posted June 11, 2009 Can somebody explain to me exactly what the terms are in the deal? Â It seems to me that the Obama Administration wanted to give Chrysler to the UAW, screw the owners and bondholders. That is too brazen, so they needed somebody like Fiat as a smokescreen. As best as I can tell, the UAW gets 55%, the USG 8%, Fiat 20%, and 17% to the existing owners/debtors. As far as I can tell Fiat does not have to pay a penny for their share, nor invest any of their own money, nor commit to anything at all - and the USG will sink in a fresh $6 billion dollar capitalization 'loan.' Â So what exactly does Fiat have to do in exchange for this free government cheese? Are they truely just a stand-in so that the UAW can get their payback while the media misdirects our attention and runs "Fiat acquires Chrysler?" Am I missing something in the agreement?
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