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Author Topic: Fiat buys rest of Chrysler from UAW; no IPO Back to Topics
Nikontraveler

Champion Author
Los Angeles

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Message Posted: Jan 2, 2014 12:31:42 AM

Fiat, owner of Chrysler Group, has agreed to buy the United Auto Workers' remaining 41.46% stake in Chrysler for $3.65 billion, plus four separate payments totaling $700 million.

The agreement, announced Wednesday, heads off a public stock offering of Chrysler shares that Fiat and Chrysler didn't want, but the UAW was forcing, in order to set a value on its stake.

It puts to an end months of cantankerous wrangling between the union and automakers about the value of the retirement trust's shares. And it's happened suddenly, in an unexpected way, as firm plans had been announced late last year for the IPO.

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REPLIES (newest first) Post a Reply
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Sanpoil
Champion Author Spokane

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Message Posted: Jan 3, 2014 5:36:44 AM

not good
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lyanMI
Champion Author Detroit

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Message Posted: Jan 2, 2014 1:13:45 PM

hope its profitable for Chrysler than fiat
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highdesertman
Champion Author Albuquerque

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Message Posted: Jan 2, 2014 10:40:59 AM

Clearly, the UAW needed to diversify their VEBA investments and Fiat needed to expand its control over Chrysler to accomplish their objectives, so this is a win-win situation for both sides, and the U.S. economy will benefit as a result.
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SUNOIL
Champion Author Toledo

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Message Posted: Jan 2, 2014 10:30:09 AM

When Daimler took over, Chrysler was money rich. When Chrysler was sold off to the investment firm, Cerberus, they had no money. Are we getting set to repeat? If so this only took Daimler 5-6 years. Fiat even admits they need Chrysler's money. My hope is with the Chrysler workers and retirees.
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eschroth442
Champion Author Cleveland

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Message Posted: Jan 2, 2014 10:28:53 AM

so long Chrysler and the Dodge boys.
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Bananaf33t
Rookie Author Illinois

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Message Posted: Jan 2, 2014 10:25:27 AM

good bye chrysler
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DesertRat2011
Champion Author Riverside

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Message Posted: Jan 2, 2014 10:09:48 AM

Big 3 down to the Big 2 now
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Masquerade16
Champion Author Las Vegas

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Message Posted: Jan 2, 2014 9:43:03 AM

Big win for UAW! Much needed $$$$ to secure their retirement fund.
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dudleydog
Champion Author New Hampshire

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Message Posted: Jan 2, 2014 9:05:41 AM

they must need the cash to pay for health care...
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Ltdc
Champion Author Long Island

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Message Posted: Jan 2, 2014 8:39:14 AM

Does that mean the UAW is not so positive about Chrysler's future or do they just need the cash?
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ooltewah63
Champion Author Chattanooga

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Message Posted: Jan 2, 2014 8:01:33 AM

We will see in time, what will happen.
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pscamp
Champion Author Ottawa

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Message Posted: Jan 2, 2014 7:45:04 AM

Whatever
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mastermariner
Champion Author Texas

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Message Posted: Jan 2, 2014 6:14:16 AM

Gas $2.99 in Round Rock
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gbs1
Champion Author Minnesota

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Message Posted: Jan 2, 2014 6:13:34 AM

At a bargain price. The price is a billion dollars less than the proposed IPO pricing.
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OTISFL
Champion Author Pensacola

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Message Posted: Jan 2, 2014 6:05:45 AM

Fiat is a great car!
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Straitliner
Champion Author Illinois

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Message Posted: Jan 2, 2014 5:58:43 AM

I am amazed at the amount of intelligence displayed by the posts on this article.
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humblepie
Champion Author Toledo

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Message Posted: Jan 2, 2014 5:46:15 AM

the unions and fiat will destroy each other i think

[Edited by: humblepie at 1/2/2014 5:45:56 AM EST]
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rumbleseat
Champion Author Winnipeg

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Message Posted: Jan 2, 2014 5:28:20 AM

"mercedes could not turn chrysler around"

Mercedes crippled Chrysler.
The Sebring should have been a good car. Mercedes dictated it could not be good enough to compete with even the lowest price Mercedes, so it wasn't.
The Chrysler 200 is a much-improved product, Fiat put some money into it. It would have had more styling cues had they not rushed a bit to get it to market and the Sebring off.
The only really good thing Mercedes gave Chrysler was the go-ahead on the Chrysler 300. They didn't really give them the Sprinter, they took that back, and Chrysler had to share that with Freightliner while they had it.

I think Mercedes thought they could make money by making Chrysler a stepping stone to Mercedes products.

[Edited by: rumbleseat at 1/2/2014 5:28:08 AM EST]
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mandoid
Champion Author Alabama

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Message Posted: Jan 2, 2014 5:21:27 AM

still no Chrysler for me
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mwg6275
Champion Author Miami

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Message Posted: Jan 2, 2014 5:09:05 AM

Now the UAW can go back to unrealistic demands in their contract since they won't have a stake in the profits anymore.
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studandbabe
Champion Author California

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Message Posted: Jan 2, 2014 3:56:13 AM

I'll never buy one
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Nancy&Len
Champion Author Cleveland

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Message Posted: Jan 2, 2014 3:55:56 AM

They can have it. Nothing but junk.
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Bussman
Champion Author Dallas

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Message Posted: Jan 2, 2014 3:24:38 AM

Never another Chrysler for me.
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djgunrunner
Champion Author Salt Lake City

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Message Posted: Jan 2, 2014 2:28:44 AM

The UAW is not cheap but they can be had and in this case they forced Fiat into what they wanted.
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praveen48
Veteran Author Toronto

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Message Posted: Jan 2, 2014 2:11:44 AM

Good for them
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Samo1961
Champion Author Los Angeles

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Message Posted: Jan 2, 2014 1:51:43 AM

$3.65 billion for 41%, is like buying a Rolex watch for $20 dollars.
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Point__man
Champion Author Raleigh

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Message Posted: Jan 2, 2014 1:49:57 AM

If Fiat buys Chrysler; then do they still own Italy too ;)
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Vette1967
Champion Author Albany

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Message Posted: Jan 2, 2014 1:43:24 AM

Hmmm...interesting.
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snky2k
Champion Author Indianapolis

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Message Posted: Jan 2, 2014 1:41:38 AM

RENEGADEGAS, you are incorrect. Chrysler paid back their bailout money - EARLY and WITH INTEREST.

Chrysler and the UAW have had a very good working relationship for many years. Both sides understand their responsibilities and work together. They should be a model for GM.
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pricewar
Champion Author Ogden

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Message Posted: Jan 2, 2014 1:41:17 AM

This might not be good
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442Nut
Champion Author Massachusetts

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Message Posted: Jan 2, 2014 1:35:29 AM

why?
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iFueler
Champion Author Durham

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Message Posted: Jan 2, 2014 1:35:09 AM


     ok
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brian1cst
Rookie Author St. Louis

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Message Posted: Jan 2, 2014 1:30:51 AM

Now that Chrysler is doing well, I have a feeling that their success is going to used to get Fiat out of trouble and then be cast aside. I hope this doesn't affect my dad's retirement after working for Chrysler for over 34 years.
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DJRIO
Champion Author Miami

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Message Posted: Jan 2, 2014 1:30:16 AM

time will tell
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trojanbuck
Champion Author Dayton

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Message Posted: Jan 2, 2014 1:29:04 AM

Fiat appears to have lost that war and ended up with Chrysler.
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fontenotm
Sophomore Author Louisiana

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Message Posted: Jan 2, 2014 1:25:38 AM

America is getting owned by foriegn countries. Soon we will be under their rule.
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PetroScopper
Champion Author Houston

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Message Posted: Jan 2, 2014 1:25:31 AM

It is always good to agree on something instead of fighting about it and in the end nobody wins.
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evpark
Champion Author Chicago

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Message Posted: Jan 2, 2014 1:24:48 AM

Just how many times over the years has Fiat failed to make it in the United States?
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MPSAN2
Champion Author Tennessee

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Message Posted: Jan 2, 2014 1:23:36 AM

Good for them
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TBONE3
Champion Author Pennsylvania

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Message Posted: Jan 2, 2014 1:23:24 AM

Hope things work out for Chrysler and the UAW!!
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Bruno44
Champion Author Texas

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Message Posted: Jan 2, 2014 1:21:57 AM

Ah, the result of big govt intervention.
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btex49
Champion Author Austin

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Message Posted: Jan 2, 2014 1:20:18 AM

Time will tell if this is a good deal.
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SoDakKimmy
Veteran Author South Dakota

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Message Posted: Jan 2, 2014 1:18:17 AM

Ok
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Jan 2, 2014 1:18:14 AM

The taxpayers are the ones that screwed on this deal and didn't see our bailout money come back.
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MPSAN1
All-Star Author South Carolina

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Message Posted: Jan 2, 2014 1:18:08 AM

Oh well
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thirstyauto
Champion Author Milwaukee

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Message Posted: Jan 2, 2014 1:17:55 AM

It's a sad day when the american auto industries move out of america!!
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DirtDauber
Champion Author San Antonio

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Message Posted: Jan 2, 2014 1:17:17 AM

Probably should let that one go.
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MitchelSdReview
Champion Author South Dakota

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Message Posted: Jan 2, 2014 1:17:09 AM

Ok
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ekidokai
Champion Author Maine

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Message Posted: Jan 2, 2014 1:17:03 AM

Figures
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Jeannemarie
Champion Author Las Vegas

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Message Posted: Jan 2, 2014 1:16:57 AM

Fiat has been around about the same length of time as Chrysler and as far as I can tell, Chrysler really has no new ideas and the ones they rework are bad jokes as well. I have had two Chryslers and would NEVER buy another one.
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