Think Fiat's getting a pretty sweet deal with Chrysler? The Italian automaker is, after all, gaining a 20% stake in the troubled American automaker, plus local manufacturing capacity and access to its dealer networks, all without paying a thin dime. Not a bad deal, but Chrysler's hard at work trying to make it sweeter. Emerging reports suggest that if the deal between Fiat and Chrysler were to fall apart, Chrysler would be obligated to pay Fiat $35 million in severance fees.
This afternoon the Chrysler Group and the UAW released a statement revealing details of the early retirement and separation programs that will help the automaker reach its goal of shedding 13,000 jobs. Two-thousand jobs being eliminated are salaried positions, and we brought you details on those early retirement and buyout packages last week. Today's announcement affects the 11,000 hourly workers who the Chrysler Group hopes will choose to leave the company on a voluntary basis.
So, you're Hyundai. You badly covet more market share in the US, and your targets are Honda and Toyota. What would be better than to hire a defector from the other team? It's even better when the defector brings along plenty of top-secret information to share. That's just what engineer Bruce Shibuya did when Hyundai nabbed him from Toyota and appointed him vice president of the Hyundai-Kia North American Quality Center. Little details like non-disclosure agreements must have been lost in the shu