Seeking Alpha
Long/short equity, bonds, REITs
Profile| Send Message| ()  

Well, that didn’t take long. Chrysler says it has an agreement with Fiat on a framework for a global alliance. From Reuters:

Chrysler LLC has reached an agreement on a framework of a global alliance with Italian automaker Fiat SpA (FIATY.PK) that has the support of the U.S. Treasury, Chrysler’s CEO Bob Nardelli said on Monday.

“We appreciate the willingness of the (autos) Task Force, along with industry and financial experts, to consult closely with us in order to achieve this significant step,” Nardelli said in a statement.

I’ll put aside my usual cynicism and cross my fingers that the “framework” morphs into something real and more to the point viable.

Source: Fiat and Chrysler?