Posted by Bret4207 on June 08, 2015 at 05:00:21 from (64.19.90.196):
Spook said: (quoted from post at 09:55:20 06/07/15)
Bret4207 said: (quoted from post at 04:49:27 06/07/15)
Spook said: (quoted from post at 11:27:19 06/05/15) Fiat and stockholders own Chrysler now. And it's doing great
Who owns the stock? According to Reuters, Fiat (the Italian Gov't) owns 53% and change of Chrysler and the rest of the stock is owned by a UAW health care trust known as VEBA.
The VEBA never owned a controlling interest, and Chrysler bought them out a couple years ago. The Italian government does not own FIAT, it's owned by the Agnelli family, as it has been forever.
I didn't say controlling interest and the rest is as it reported by Reuters. If Chrysler did buy out VEBA recently, then the UAW no doubt made an obscene amount of money with little to no investment. Fiat was is still rated just above "junk" as far as I can tell. Sounds to me like Chrysler bailout out Fiat with tax payer dollars.
This post was edited by Bret4207 at 05:09:10 06/08/15.
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