Obama orders Chrysler to merge with Fiat


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Posted by David Sherman on Monday, March 30, 2009 at 15:01:20 :

From the New York Times today:

Speaking a day after the White House pushed out the chairman of G.M., Mr. Obama said Chrysler has been instructed to form a partnership with the Italian automaker Fiat within 30 days as conditions for receiving another much-needed round of government aid.

Other salient features of the latest plan to pull Detroit out of its decadeslong skid include a tax break, being started by the Internal Revenue Service at once, for auto purchases made between Feb. 16 and the end of 2009; incentives for people to turn in older, less fuel-efficient vehicles and buy more energy-efficient cars and government-backed warrants to assure customers that they have nothing to fear by buying a car from G.M. or Chrysler.



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