Monday, May 4, 2009

Fiat May Spin Off Auto Division If It Buys GM Europe

"Fiat SpA, the Italian carmaker taking a stake in Chrysler LLC, may spin off its automobile division following a purchase of General Motors Corp.’s European unit."

In other words, we're spending billions of dollars so that the best parts of GM and Chrysler will survive . . . as divisions of an Italian auto maker. Wasn't the original idea to save the US auto industry?

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