Oh Sergio! Fiat CEO to Head "New" Chrysler

Robert Farago
by Robert Farago

Well, that’s one way to avoid the US government’s $500K CEO salary cap for companies receiving bounteous billions of federal largesse. A Fiat spokesman confirmed Fiat CEO Sergio Marchionne’s ascendency [via The Detroit News] and our theory that saving the US auto industry by surrendering it to Italian control (of all things) is a prime example of off-the-charts political expediency. Given the non-TARPies debt holders’ surrender and Marchionne’s “appointment,” the question now becomes, can he actually do this thing? TTAC commentator PCH101 reckons Sergio’s got the turnaround chops for the gig but may not have a handle on American tastes. Howard Wheeldon clocks the German part of the program and compares bite marks to chewing ability. “In a way all of this has come a little bit too fast,” worries the senior strategist at BGC Partners. “One would like to see two or three years of really strong results in Europe and in Italy for Fiat before they delve out this far and fast. I am extremely worried about this German thing and their wanting to become No. 2 in the world. It will end in tears.”

Robert Farago
Robert Farago

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  • Louche Louche on May 07, 2009

    "The New Chrysler, Part 5! We mean it this time." No one wants to be seen as the one who pulled the plug on this one. Just keep throwing money at it. Miracles happen....don't they?

  • Anonymous Anonymous on May 07, 2009

    If nothing else, it'll be interesting if Fhrysler wind up offering a tiny little 500 alongside a great big 300.

  • SpeedRacerrrrr SpeedRacerrrrr on May 07, 2009
    “…bringing Detroit much needed leadership, who with Hitler’s help, fought Ethiopia to a draw.” Cheap shot.
  • RogerB34 RogerB34 on May 07, 2009

    Fiat risks little or nothing. Fiat wins if Chrysler Fiats sell. In the process, Obama will pump whatever it takes to keep Chrysler alive. Fiat wins with free US dollars. Same for Germany and Opel.

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