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Article: The $2 Billion Bargain.(Column)
- Article from:
- AutoWeek
- Article date:
- March 21, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kevin A. Wilson
Boy, did General Motors dodge a bullet. For a meager $2 billion, it bought its way out of a deal that could have forced it to assume control of Fiat Auto, with all its debts and other encumbrances. One of those burdens only the automotive cognoscenti will understand: GM was in danger of inheriting the Fiat X1/9 enthusiasts. (There, I've done it. I said "X1/9.'' Batten down the mailboxes, we've got INCOMING!)
Even a casual observer can see that GM-busy shrinking its own European arm-doesn't need Fiat's woes. While $2 billion might look like a lot, it's not a fifth of the red ink at Fiat Auto, where Luca di Montezemolo aims to turn ...
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