Chrysler and Fiat make it official

[sammm]

http://money.cnn.com/2009/06/10/news...fiat/index.htm

[trickyrix]

WTF?

[trickyrix]

Chrysler Group is mostly owned by the United Auto Workers union (a 55% stake) and will give minority stakes to governments: 8% for the United States and 2% for Canada. Fiat will not be allowed to take a majority stake until the new Chrysler pays back the $15.5 billion lent to it from the Treasury Department.

Chrysler's new board will consist of three Fiat directors, four representing the U.S. government, one from the UAW and one from the Canadian government. The company said it expects to name former Borden Chemical and Duracell chief executive as its chairman.

So how long till the UAW gets cranky, goes on strike, and puts Chrysler out of business for good?

[altiain]

Chrysler couldn't have picked a better savior...

Fiat finishes dead last in British J.D. Power owner satisfaction survey

[Dave04]

So how long till the UAW gets cranky, goes on strike, and puts Chrysler out of business for good?

I'm guessing about a month after they are able to trade their equity (controlling equity I might add) for cash so they can blame it on someone else.