| Author |
Message |
Dan (Bobafett)
Junior Member
Username: Bobafett
Post Number: 65
Registered: 9-2002
| | Posted on Saturday, November 02, 2002 - 4:36 am: | |
My mistake, then. Thanks for the clarification.
--Dan |
Viken Bedrossian (Vikenb)
Junior Member
Username: Vikenb
Post Number: 206
Registered: 5-2001
| | Posted on Friday, November 01, 2002 - 6:25 pm: | |
>> What does Ferrari have to do with this? <<
The reason why Ernesto is asking this, is because FIAT Holdings owns Ferrari and NOT FIAT Auto which is the entity in financial trouble. No matter what happens to FIAT Auto, as long as the deal does not include Ferrari as previously speculated, there will be no changes to Ferrari. |
Dr Tommy Cosgrove (Vwalfa4re)
Member
Username: Vwalfa4re
Post Number: 388
Registered: 5-2001
| | Posted on Friday, November 01, 2002 - 5:33 pm: | |
Ernesto-it's referring to the thread asking would Ferrari's image change if GM bought them out. |
Dan (Bobafett)
Junior Member
Username: Bobafett
Post Number: 64
Registered: 9-2002
| | Posted on Friday, November 01, 2002 - 5:28 pm: | |
Fiat owns Ferrari - invariably some of those jobs must come from the F-car.
--Dan |
Ernesto (T88power)
Member
Username: T88power
Post Number: 848
Registered: 2-2001
| | Posted on Friday, November 01, 2002 - 3:41 pm: | |
What does Ferrari have to do with this?
Ernesto |
Matt Lemus (Mlemus)
Member
Username: Mlemus
Post Number: 330
Registered: 8-2002
| | Posted on Friday, November 01, 2002 - 3:27 pm: | |
8100 jobs. Typical family of 3 equals 24300 people that are going to have a really bad holiday.
|
VS (Vs1)
New member
Username: Vs1
Post Number: 12
Registered: 10-2002
| | Posted on Friday, November 01, 2002 - 1:43 pm: | |
My guess is that GM would also drastically reduce the workforce as a cost cutting measure if they were forced to buy Fiat. So it's really a no win situation. The way the news reads - sounds like GM isn't giving any debt relief, either. |
Matt Lemus (Mlemus)
Member
Username: Mlemus
Post Number: 329
Registered: 8-2002
| | Posted on Friday, November 01, 2002 - 1:29 pm: | |
It's a ethical issue.
GM ferrari lowers the car values but 8100 people can feed their kids...
8100 jobs so I can feel better about my car is a hard pill to swallow. As the saying goes..."it's all fun and games until someone gets hurt." In this case it is 8100 people.
sad |
Dr Tommy Cosgrove (Vwalfa4re)
Member
Username: Vwalfa4re
Post Number: 387
Registered: 5-2001
| | Posted on Friday, November 01, 2002 - 1:27 pm: | |
So we can stay happy with the current Ferrari image but at a cost of 8100 jobs?
Now I don't know how I feel about all of this. |
VS (Vs1)
New member
Username: Vs1
Post Number: 11
Registered: 10-2002
| | Posted on Friday, November 01, 2002 - 8:12 am: | |
From today's www.thecarconnection.com news.
FIAT TO BOOST AUTO GROUP WITH $2.47 BILLION
Fiat SpA will pump $2.47 billion into the struggling Fiat Auto group as required by Italian law. According to that law, any company that owes more than one-third of its net assets must be recapitalized. Fiat SpA will effect the transfer by canceling some of Fiat Auto's debt to the parent company, according to Reuters. GM, which owns 20 percent of Fiat Auto, is not party to the arrangement. Fiat lost $335 million in the third quarter, and has said it will cut 8100 jobs to stanch losses - a move extremely unpopular in Italy and with the country's government. |