#shyster
Fiat To Pay Back Shyster Loans
In a few weeks, Fiat will be handed another 5 percent of Chrysler as brownie points for meeting another milestone in its agreement with the U.S. and Canadian governments. Another milestone will be reached in the fourth quarter, Sergio Marchionne told Reuters today. That will bring Fiat’s ownership in Chrysler to 35 percent. But Fiat and Marchionne want more: Majority control, i.e. 51 percent. That needs a bigger milestone: Repay a $7 billion government debt. Marchionne thinks he can do it.
Marchionne: Sh ... I Didn't Mean It
Fiat CEO Sergio Marchionne stepped into a minefield by calling the high-interest bailout loans provided by the U.S. and Canadian governments in 2009 “shyster loans.” Some called him an ingrate, others branded him a racist. Yesterday, Marchionne apologized.
Read more
Recent Comments