Fiat SpA chairman Sergio Marchionne may or may not have the smarts to meld a busted Chrysler LLC with his firm and produce a viable global auto company. But he at least has the good sense not to further inflame a heated political discussion in the U.S.
According to a Reuters report Tuesday morning, Fiat says it will not walk away from its deal to take over Chrysler even if legal wrangling pushes a resolution past the June 15 deadline that entitles Fiat to do so.
Look for details shortly on The Deal Pipeline, including what might happen next following Supreme Court Justice Ruth Bader Ginsberg's surprise move Monday to delay the deal while considering how to handle an appeal from Indiana pension funds opposing it.
For now let's just note that if you lead a foreign firm that's getting a major American company for free (never mind that nobody else wants it) and if tempers in Washington are already frayed over dealer shutdowns and creditor cramdowns and union ownership, it is just plain bad form to stand on the marble steps of the U.S. Supreme Court looking at your watch and tapping your foot impatiently. The justices are not likely to be impressed. And anyway, what does Fiat have to lose by saying it'll wait? -
Kenneth Klee
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