Tuesday, July 28, 2015

Fiat: Such a Deal They Had For You.

You might recall that, for a couple of years, Chrysler was owned by Ceberus Captital Management (motto: "We're Not as Evil as Bain. But Close."). But then Chrysler (surprise, surprise) almost went under, only to be eventually bought out by Fiat.

What did Fiat get for their money, you ask. This:
Fiat Chrysler Automobiles will pay up to $105 million in fines and penalties to the National Highway Traffic Safety Administration, submit to oversight and buy back nearly half-a-million of the vehicles it has recalled, penalties issued Sunday for the auto company’s lax attitude toward addressing safety issues in millions of its vehicles.

NHTSA said it was concerned about slow completion rates on recalls the automaker announced, slow or inadequate notifications to consumers, faulty approaches to fixing the safety issues and improper actions by dealers.
It had to be pretty bad, for that was what Fiat-Chrysler consented to.

You have to wonder how much worse things were going to get for Chrysler if that's what they've agreed to as a plea bargain. Is there a version of the infamous Ford-Pinto-Gas-Tank memo ("fuck fixing it, let them sue us") out there?
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