The headline in the trade journal reads: "GM prepares to save Fiat." Saints preserve us! General Motors is in the midst of saving itself and doing a good job of it. But GM is just terrible when it comes to saving foreign partners. Just look at the disasters at Isuzu and Saab. GM got into its Fiat jam two years ago. That's when it exchanged 5.3% of its stock for 20% of Fiat Auto (the auto business is 42% of the Fiat Group). Under a provision of the contract Fiat has the option to sell the rest of its auto business to GM starting in 2004.
展开▼
