Start saving those pennies, kids! Fiat CEO Sergio “Mad” Marchionne tells the Wall Street Journal that “the true value of Chrysler could emerge when the company would be listed, but this will take a while — not sooner than 2½ years.” Better yet, Marchionne suggests that Chrysler will create “healthy profit margins” if the market has recovered to a 13-14m unit SAAR. Can you dig it? In the meantime, Fiat will be loading up even more debt, offering $1.8 billion worth of bonds at 9.25 percent. Although this rate is lower than the 9.75 percent guidance, it still sent Fiat credit default swaps up six points. Fiat’s second quarter losses hit about $240 million, which is worse than analysts expected. And as Forbes explains, debt, not earnings is the real challenge for Fiat. But as long as things keep chugging along, there might be a Fiat Nano in it for you (especially if you live in Latin America). Which would probably be a better investment of your saved pennies anyway.
“Only 30 Months Until You Can Buy Chrysler Stock!”
Wow, where can I sign up?
Which will come first?
Chrysler Stock
Fiat 500 made in North America
Government Motors Stock
Chevrolet Volt
Universal health insurance in the US
Perpetual motion machine powered cars
The rebirth of wonder
Judgment Day
I dunno. I like that this guy looks and sounds kind of crazy. Have 10X more faith in him to make Chrysler work than Fritz to make GM work.
rpiotr01 : +1
I dunno. I like that this guy looks and sounds kind of crazy. Have 10X more faith in him to make Chrysler work than Fritz to make GM work.
This. Chrysler may be at the beginnings of another manic high.
I have no idea if Sergio is “crazy like a fox” or just crazy…but I have to go with the “better bet than the Barry und Fritz show” group.
A different, possibly ludicrous, approach can’t be any scarier than having the same bunch that dug the hole getting help from the Gov’t with their excavation project.
Just saying.
Bunter
Compared to how Chrysler and GM made decisions in the past you could have a robot (programmed to perform random activities) make better decisions.
All power to Marchionne, he at least has a shot unlike Fritz.
RS wrote:
Which will come first?
Chrysler Stock
Fiat 500 made in North America
Government Motors Stock
Chevrolet Volt
Universal health insurance in the US
Perpetual motion machine powered cars
The rebirth of wonder
Judgment Day
You might want to add to that list “Sergio Marchionne gets his walking papers.”
Though I would say the likelyhood of a Fiat 500 made in the US is more likely than seeing the Volt anytime soon. And some might think judgment day is coming since the merging of VW and Porsche.
Thanks for the offer, but I am waiting for my Enron stock to come back in a blaze of glory.
How many shares do I have to buy to get one of those nifty engraved stock certificates? Some of those are works of art, and I’d expect something more from the Italians.
Does anyone have examples of Chrysler’s old certificates and current Fiat certificates for comparison? We connoisseurs of artistically rendered bad investments are curious.
I still have some “old GM” stocks I’d be willing to trade for it…