A perfect example of the perpetual ignorance required to be a CON$ervative!!!
Daimler bought Chrysler in 1998.
Prefect example of a far left drone not knowing recent history..
Done deal Fiat owns Chrysler
DETROIT — The federal government on Thursday shed the last of its stake in
Chrysler, giving majority control of the carmaker to
Fiat, the Italian company, while leaving taxpayers $1.3 billion short of recovering the full investment they made two years ago to keep Chrysler from going out of business.
http://www.nytimes.com/2011/07/22/business/us-sheds-its-stake-in-chrysler.html?_r=0
Fiat did NOT buy Chrysler from the GOVERNMENT!!!!
From your own link which you didn't bother to read:
"Fiat North America
bought the stake from the United Auto Workers' employee medical benefit retirement trust (known as a VEBA) for $1.75 billion of its own cash, plus another $1.9 billion in Chrysler cash."
See how dangerous the far left religion truly is..
DETROIT — The federal government on Thursday shed the last of its stake in
Chrysler, giving majority control of the carmaker to
Fiat, the Italian company, while leaving taxpayers $1.3 billion short of recovering the full investment they made two years ago to keep Chrysler from going out of business.
http://www.nytimes.com/2011/07/22/business/us-sheds-its-stake-in-chrysler.html?_r=0
When faced with the facts even when using far left sources, they will still deny it..
Again the Right are too lazy to read their own links. The US only held 6% of Chrysler.
From your own link:
"As part of a previous agreement with the government, Fiat paid $500 million for the last of the
Treasury’s 6 percent stake in Chrysler."
And once again the far left proves why they are the most dangerous religion on the planet..
With the announcement of Chrysler’s bankruptcy, President
Barack Obama favored a reorganization plan which would allow unsecured creditors to essentially leapfrog the claims of Chrysler’s first-lien lenders. In what appeared an obvious breach of the Constitution, the U.S. government’s plan transferred a majority of Chrysler’s reorganized stock over to Fiat and unsecured creditors for no consideration other than a promise to build more fuel-efficient vehicles in the U.S. over time.
Chrysler’s Voluntary Employee Beneficiary Association (“VEBA”) Trust, a trust fund formed to provide benefits to Chrysler’s retirees, received the initial majority of Chrysler’s reorganized stock under the plan. However, over time Fiat was able to earn/purchase a majority stake in Chrysler by exercising lucrative options it received under the U.S. government’s plan.
The Story Behind Chrysler And Fiat And Why The Stock Is So Cheap - Forbes