It’s downright embarrassing when you are down in the doldrums and all but written off . It’s equally embarrassing when another troubled giant (GM) pays you $2 billion to bail out of an agreement with you. This has just been the latest in the cup of woes for auto giant Fiat Auto SPA, one of Europe’s largest and most well known car manufacturers. Plagued by a series of losses over the past five years, Fiat did rustle feathers with a $46.3 million profit in the quarter ending December 2005, as that ended an embarrassing trend of losses for seventeen quarters. Current CEO Sergio Marchionne’s restructuring of Fiat including excessive job cuts and cost controls is cited as the reason for profits (besides GM’s alimony of course!).
For Complete IIPM-Article, Click on IIPM-Editorial Link
Source IIPM-Editorial,2006
For Complete IIPM-Article, Click on IIPM-Editorial Link
Source IIPM-Editorial,2006
