Fiat gets a big stake in Chrysler, if...
Deal appears to hinge on additional loan money for struggling automaker, WSJ reports
Chrysler has given a 35% stake in its company to Fiat in ex change for technology necessary to bring smaller, fuel-efficient cars into Chrysler showrooms.
The deal, according to the Wall Street Journal , has a string attached %%MDASSML%% a $3 billion loan that would come from the remainder of $750 billion TARP funds that Congress approved last week. In order to get the $3 billion, on top of the $4 billion already loaned to the automaker, Chrysler had to come up with a plan to return to profitability. The Fiat deal appears to be that plan.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey