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Chrysler Needs $3bn In New Government Loans

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http://business.timesonline.co.uk/tol/busi...icle5560811.ece

Fiat's international partnership with Chrysler may fall through if the struggling US carmarker does not obtain $3 billion in additional US Government loans.

Chrysler and Fiat said yesterday that their deal would give Fiat a 35 per cent stake in the American company in return for the Italian carmaker providing technology and vehicles that Chrysler could build and sell in the US.

But The Wall Street Journal reported today that the agreement would fall through if Chrysler did not receive an extra $3 billion of help from the Government. Fiat declined to comment. A Chrysler spokeswoman did not comment directly on the terms of the deal with Fiat but said that Chrysler believed that it needed $3 billion in additional assistance to survive.

The Government agreed to lend Chrysler $4 billion last month. The car group must hand the Government a plan by February 17, spelling out how it intends to return to profitability to get the loan plus an extra $3 billion.

You really couldn't make this up if you tried.

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What is three billion when the Treasury Hank "MAster of the Universe" Paulson has pissed away 287 billion to Banks. Yu could justify it that it makes a nice round number now 290 billion

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http://business.timesonline.co.uk/tol/busi...icle5560811.ece

You really couldn't make this up if you tried.

It is becoming well nigh impossible to parody it now isn't it? Just tell them to sit down with their global fellow car makers and have a civilised discussion about who will sell to whom and produce a smaller consolidated industry. It's basic and obvious, and inevitable. Plus it's orderly, if that's perceived as helpful.

For the UK, I told some mates that I was setting myself the task of coming up with some policies more extremely ridiculous than those the government managed but that I was struggling. My current one is that they will tax cash deposits AND unmortgaged equity in houses in order to stimulate spending. Now I'm starting to woinder if they will pick up on it...... :(

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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