Wednesday, January 29, 2014

Bye-Bye Chrysler

Its official, Chrysler is no more and no longer officially an "American" car company. It is now but a part of Fiat Chrysler Automobiles

Fiat SpA and Chrysler Group LLC have become Fiat Chrysler Automobiles NV, or FCA.

. . .

Since then [the 2009 bankruptcy], Fiat has steadily increased its stake in the company. On Jan. 1, it reached an agreement to buy the rest of Chrysler from the United Auto Workers retiree health care trust that was given a minority stake as part of the same 2009 agreement.

That deal closed last week, and Fiat is now the sole owner of Chrysler.

The company will be incorporated and headquarted in the Netherlands and domiciled in the United Kingdom for tax purposes. Good thing Obama decided to save this American car company so it can avoid US tax payments on earnings in the future.

So, can we expect all the UAW guys to quietly take their "Don't Buy Foreign Car" stickers off their Chryslers now?

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