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Old 16th December 2013, 18:07   #1
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Default Chrysler Bailout: Everyone is Iacocca

A beautiful article that appeared on Bloomberg detailing the tough times Chrysler faced during the recession, the subsequent bail out and the triumphant emergence with heads held high. From an inside perspective, from the top management to the floor workers, this details the emotions, helplessness, loyalty and sense of belonging the employees shared. Working together, for the company, for themselves.

http://www.bloomberg.com/news/2013-1...-industry.html
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Old 16th December 2013, 23:14   #2
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Default Re: Chrysler Bailout: Everyone is Iacocca

Excellent article indeed. Sergio is one tough CEO and ofcourse brilliant.
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Old 17th December 2013, 12:41   #3
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Default Re: Chrysler Bailout: Everyone is Iacocca

Please also read the comments on UAW and tax payers money
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Old 19th December 2013, 14:49   #4
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Default Re: Chrysler Bailout: Everyone is Iacocca

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Originally Posted by carbhp View Post
Please also read the comments on UAW and tax payers money
The UAW did have reservations about hiring new hands to work in the factory at half the rate paid to the veterans, but did come around for the better interest of the company(And themselves).
The tax payers money was used in the bailout, but it was repaid years ahead of schedule much like the case when Iacocca was at the reigns. The government intervening when the economy is in tatters is not a new occurrence.
I see this as a win-win situation because otherwise thousands of people would have been left jobless and a major industry within the US would have shut shop leading to further losses.
End of the day, loan repaid, industry survives, people still have jobs and the economy is better off.
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Old 20th December 2013, 02:54   #5
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Default Re: Chrysler Bailout: Everyone is Iacocca

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Please also read the comments on UAW and tax payers money
You have to understand that without tierd sal there are no profit and survival thus no jobs, so UAW had to nod. The combined pay for the ones in Honda and Toyota is way less than the detroit three had when they were golden in pre-recession, so cant blame them for this in their dire situation. The taxpayers money in the name of bailout saved about 2.9mill jobs combined and more around so it was well spent saving livelihoods of many.

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Old 3rd January 2014, 02:17   #6
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Default Re: Chrysler Bailout: Everyone is Iacocca

Fiat bought the rest of the stakes in Chrysler. It is now a FIAT's fully owned subsidiary like ferrari, maser and alfa.

http://blog.caranddriver.com/fiat-bu...po-not-likely/

The Italian worker unions are crying now since manufacturing in italy look bleak.
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Old 3rd January 2014, 22:23   #7
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Default Re: Chrysler Bailout: Everyone is Iacocca

Wonder what Fiat plans to do with so many underutilised Italian factories as thats the thing which is hurting them apart from labour laws in that country. The Chrysler buyout is a step in the right direction & in my view the Fiat group now with Chrysler, Maserati, Ferrari, Alfa, Lancia & Fiat Industrial under its belt can challenge the might of VW worldwide. And also what's interesting to see will be what Fiat does here in Asia as earlier we used to read that all their top honchos are busy with Chrysler & only after fully acquiring it will they seriously focus in Asia.
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