With only 2 weeks before the deal between Fiat and Chrysler must be all wrapped up, Sergio Marchionne Fiat CEO issued a powerful ultimatum: 'Absolutely we are prepared to walk. There is no doubt in my mind' Marchionne reported to the Toronto Globe and Mail. 'We cannot commit to this organization unless we see light at the end of the tunnel'.
Chrysler and Fiat must agree by April 30th or else the Government in U.S. will be pulling away the aid, letting Chrysler to be sold in pieces. 'There's definitely some worry and concern about what's going on' stated Brett Ward, 35, 15-year at Chrysler worker, driving a forklift at a factory in Detroit suburb - Sterling Heights. 'We haven't been asked to vote on the contract changes yet'.
'The focus of our discussion yesterday was about the challenges that they're having with their creditors right now' Democratic U.S. Rep. Gary Peters said. 'The UAW has made concessions already to Chrysler. As far as making further concessions, they have made it fairly clear that they don't want to be the only party at the table'.
'I would question if this is a negotiating tactic, because I know that they have been moving along on a number of fronts' said Sen. Debbie Stabenow, D-Mich.
Marchionne did a Zurich interview at the UBS bank meeting with the shareholders. He wasn't positive thinking about the proposed merger outcome, saying there's a fifty % chance this deal will be failing. 'The dialogue is out of sync' said Marchionne. 'I think they need to see what state the industry is in. Canada and the U.S. are coming in as the lender of last resort. No one else would put a dollar in. This is the worst condemnation of the viability of this business'.
He urged CAW and UAW to reach a deal, saying that if it fails, the ramifications could be hard to reach. 'But it will happen if a bankruptcy process drags on' affirmed Marchionne. 'The UAW and the CAW have a unique opportunity here to change the framework of the discussion'.
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