January 20, 2009
Chrysler’s troubles worsened last fall when the meltdown on Wall Street hit. So most analysts said the US automaker had little hope of surviving as a standalone company, and Sen. Bob Corker (R., Tenn.) said the company needs to “merge or go away.” Italy’s Fiat, in turn, has its own troubles, but it is still true that it is at the moment the stronger of the two and a recognized world leader in the area of innovative and environmentally friendly products, thanks to its chief, Sergio Marchionne, who has pulled the company back from the brink collapse since taking over in 2004. So, in an attempt to revive two of the world’s storied auto makers, Fiat and Chrysler decided to lend a hand to one another. And the Americans will soon be reaping the benefits and the healthy rewards of driving small vehicles, while the Italians will experience the excitement of driving large, gas-guzzling cars … Well, actually, not exactly I’m afraid. See here and here for details.