Fiat May Soon Be Able To Drain Chrysler’s Cash Raise The Cash For Chrysler

Fiat could be close to raising the cash needed to buy the rest of Chrysler, two people familiar with the matter told Reuters. Apparently, the money will not come from a sale of Alfa to italophile Volkswagen, as previously surmised, but from banks. But knowing banks, they probably won't simply move the $4 billion across the counter. These days, they often just find a willing buyer for a hefty fee …   The talks with the banks are expected to conclude next month, and should lead to raising the money needed to buy the 41.5 percent of Chrysler which are held by VEBA, the United Auto Workers' retirees' healthcare trust. Marchionne wants to merge Fiat and Chrysler to use Chrysler's cash to offset Fiat's losses. This sounds very familiar to the old DaimlerChrysler lore, usually told with a "merger of equals" tossed in to sound witty. Amazingly, this is yet to be brought up. Perhaps this is because this time, the UAW will be the recipient of the cash. Once they have it, the sermon of "they just drained Chrysler's cash" can commence anew. from The Truth About Cars http://www.thetruthaboutcars.com

Put the internet to work for you. via Personal Recipe 680102