Solarbird (solarbird) wrote,

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Fiat paid ZERO DOLLARS for a 35% stake in Chrysler. They just "bought" one third of the smallest of the Big Three for NO MONEY. That's NO money down! NO money later! 0% financing! Jesus. Chrysler gets "access to Fiat's overseas distribution network and smaller car technologies" in return. Fiat in return gets 35% of the company and access to Chrysler's dealer network in the US, where they plan to re-launch the Alfa Romeo line and the Fiat 500s.

I mean, wow, I coulda bought 1/3rd of Chrysler for NO money too! And if 1/3rd of Chrysler is worth ZERO dollars, what's the other 2/3rds worth?

Dow down well over 3% with a seven-handle, S&P500 down 4.8%, NASDAQ down 5%. More later.
Tags: economics
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