Everyone can get a piece of Chrysler?
Posted on 24-09-2013 at 8:57 by ricardo – 9 Comments”
Chrysler disappeared in 2007 from the exchange, but made last night that the first steps to a comeback. A remarkable action against the wishes of majority shareholder Fiat, which is worked out by a powerful trade union in Detroit.
Everything is for Fiat
The Fiat Group currently has a 58.5% stake in Chrysler in the hands and its CEO, Sergio Marchionne, is doing everything to make the share in the company that he started in 2009 inlijfde and the fall managed to rescue – to enlarge. Fiat wants to do EVERYTHING to get your hands on. So why is the company (partly) to the stock exchange?
The sleepers
This is the work of United Auto Workers (UAW). This union owns 41.5 percent of Chrysler and has been for months with Fiat to negotiate a takeover. But the league needs money, since they are the pensions of 115,000(!)ex-employees must pay, and let Chrysler just now since a long time and tight, sales drop. Last month, knew the Chrysler group (Dodge, Jeep, RAM) 165.552 to sell cars, 12 percent more than in August 2012 and the highest number in August since 2007. Ergo, time for UAW to be a part of the shares to the stock exchange and an IPO. Chrysler is booming.
This can be done of course to Marchionne, in his shirt, sweater, since, according to the New York Times is Marchionne absolutely not happy with an ipo. Fiat just wants to be 100 percent of the shares, access to Chryslers huge cashvoorraad, the two companies continue to integrate and cost to bring down. If Chrysler to the stock market is necessary for Fiat much less interesting. Heck, there has even been talk of a rupture of the Fiat/Chrysler collaboration.
Fiat says that the share of trade union $ 3 billion worth, but the latter did not agree, and wants more. There is something to say for it, according to professor Harley Shaiken of the university of California: “The union took a very high risk when it accepted shares in a bankrupt company four years ago to cover health care for retirees. Now they want to share in Chrysler’s success.”
The company, an ipo is that the relationship between Fiat & Chrysler under pressure, or are these mere negotiation of an extremely powerful trade union at the last euro’s Marchionne to get? Chrysler was for a while the cork where the declining Fiat floats (Fiat Europe turned a €98 million loss in the last quarter) so the latter is all situated to Chrysler ‘very’. Continued.