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Old 10-29-2012, 02:58 PM
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Fiat considers offshoring Chrysler and Jeep production to Italy

The "Romney outsourcing" that Obama has been warning us about is already starting (and by a company that Obama bailed out, no less).

From Bloomberg News:
Quote:
Marchionne Seen Missing Fiat Sales Target by $19 Billion
By Tommaso Ebhardt on October 29, 2012


Fiat SpA (F) Chief Executive Officer Sergio Marchionne set a target two and a half years ago to sell 6 million cars annually by 2014, a goal that analysts and industry observers at the time deemed impossible to achieve. They were right.

Marchionne, who runs both the Italian automaker and Chrysler Group LLC, has said he will revise his forecasts when the two companies announce third-quarter results tomorrow. Analysts estimate his sales target will need to come down by 15 billion euros ($19 billion).

<snip>

To counter the severe slump in European sales, Marchionne is considering building Chrysler models in Italy, including Jeeps, for export to North America. The Italian government is evaluating tax rebates on export goods to help Fiat. Marchionne may announce details of his plan as soon as Oct. 30, the people said.

“This makes sense on multiple levels” as it will boost plant utilization and would cap “Chrysler’s own potential, limiting the likely cost to Fiat shareholders of buying out the Chrysler minorities,” Stuart Pearson, an analyst at Morgan Stanley in London, said in a note to investors today. “However we see no quick answers, and fear debt could surprise negatively first,” said Pearson, who rates the stock underweight with a target price at 3.90 euros.
Full article at: http://www.businessweek.com/news/201...-19-billion#p1
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Old 10-29-2012, 05:31 PM
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Fiat Says Jeep Output May Return to China as Demand Rises
http://www.bloomberg.com/news/2012-1...nd-climbs.html

Jeep in China
http://blog.chryslerllc.com/blog.do?id=1932&p=entry

No, Mr. Romney: Jeep Is Not Moving All Its Factories to China
http://www.dailyfinance.com/2012/10/...rong-false-gm/

New Romney ad misleads on auto bailout
http://www.cbsnews.com/8301-505245_1...-auto-bailout/

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Old 10-30-2012, 05:32 AM
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This is too funny, Bob.
The two things that seem to bother you, you desparately try to blame Obama for.
I understand you're not a big Obama fan. Most here recognize this.
But let's take a closer look at things here.

1. It's not Obama's bailout of Chrysler. It's a bailout of Chrysler by the American taxpayer and that cake was baked under Bush's watch. If you want to place blame for TARP and the banker bailouts and the necessity for them, start with Bush.
2. Outsourcing is not an Obama phenomenon. Romney will outsource if President. Obama outsourced. Bush outsourced. Clinton Outsourced. Bush Sr. Outsourced.
See a pattern there?
 
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Old 10-30-2012, 06:27 AM
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Originally Posted by Zap View Post
Clinton Outsourced.
Maybe so, but at least during the Clinton administration people could trip over jobs.
 
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Old 10-30-2012, 06:46 AM
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Originally Posted by dWhite View Post
Maybe so, but at least during the Clinton administration people could trip over jobs.
The problem is these two wars that costed a lot to the American people.
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Old 10-30-2012, 08:34 AM
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Quote:
Originally Posted by Zap View Post
See a pattern there?
You nail it pretty good Zap, what I found fantastic is that people still believe in the political race, when you know that they come from the same think tank and are sponsored by the very same wealthy bodies.

They did a pretty good job to give the illusion of two differents ways when some people like us know that they are working for the same people behind scene.

What I don't enjoy is that they attack each others when in fact, they are owned by the same aristocratic families.
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Old 10-30-2012, 08:41 AM
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Quote:
Originally Posted by dWhite View Post
Maybe so, but at least during the Clinton administration people could trip over jobs.
True enough, but my point was about outsourcing, not employment levels. Outsourcing has been going on for decades.
It is ridiculous to point to Obama and say "He's a bad man. He's been sending jobs outside the US.".
What's even more ridiculous than that is that both Obama and Romney are pointing at each other, blaming the other for outsourcing when they both have an established track record of it.
 
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Old 10-30-2012, 09:26 AM
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Quote:
Originally Posted by Zap View Post
What's even more ridiculous than that is that both Obama and Romney are pointing at each other, blaming the other for outsourcing when they both have an established track record of it.

President Obama, Mitt Romney and truth in outsourcing

Quote:
The Obama and Romney campaigns, along with their surrogates, have been in a high profile spitting match over which candidate has the largest record of shipping jobs overseas. The gang in Chicago has dubbed Mitt Romney the “outsourcer-in-chief” from his time at Bain Capital and the team in Boston highlights how much taxpayer money President Barack Obama has sent abroad to create jobs in Scandinavia.

Yet both arguments miss the mark when it comes to the true cause of outsourcing.
http://www.politico.com/news/stories/0712/78467.html

I agree with the author: "both arguments miss the mark"
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