Economic Bad News kept coming Non-Stop

[mortarmafia]

http://sg.news.yahoo.com/afp/20100114/tts-italy-auto-company-fiat-509a08e.html


Fiat CEO: decision to close plant 'irreversible'
AFP
AFP - 1 hour 14 minutes ago

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[Fiat and Chrysler CEO Sergio Marchionne has said that a decision to shut down the...] Fiat and Chrysler CEO Sergio Marchionne has said that a decision to shut down the company's plant in Sicily was "irreversible."

DETROIT (AFP) - – Fiat and Chrysler CEO Sergio Marchionne said Wednesday that a decision to shut down the company's plant in Sicily was "irreversible."

Speaking in Detroit, Marchionne said plans to shutter the plant, which employs around 1,400 people, although "a great controversy," would go ahead.

His speech was interrupted by cries of protest from those opposing the move. "Shame on you Fiat and Chrysler for killing jobs!" one angry protester shouted.

Earlier Wednesday hundreds of Fiat workers in southern Italy went on strike Wednesday in protest at the company's decision to shut it down by the end of 2011.

Marchionne had first announced the closure last June, as a move to cut costs.

 

[Watchman]

Fiat is not making what consumers want but what their stupid CEOs want .

 

[jacobsgoh]

Actual idea is to make workers be prepared for bad weather ahead, after lky's son's govt mentioned about it, is like they've done their part in taking care of the issue. They are not paid million$$$$$$$$$$$ for nothing.

 

[VIBGYOR]

Volkswagen Group 2009 China Sales Up 36.7% At 1.4 Mln Units

BEIJING (Dow Jones)--Volkswagen AG (VLKAY) said Thursday the group's sales in China last year hit a record 1.4 million units, up 36.7% from 1.02 million units in 2008.

Sales of Volkswagen brand autos reached 1.12 million units in 2009, up 32.4% from 844,491 units, the German auto maker said in a statement.

Sales of its luxury Audi brand totaled 158,941 units, up 32.9% from 119,284 units in 2008, and sales of Skoda brand vehicles more than doubled from 59,284 units in 2008 to 122,556 units last year.

"We are full of confidence for 2010 (and) expecting a growth rate of 10% to 15% for the total automotive market in China," said Winfried Vahland, president and chief executive of Volkswagen Group China.

Volkswagen also sold 484 Bentleys and 118 Lamborghinis in China last year, the statement said.

-By Patricia Jiayi Ho, Dow Jones Newswires;

 

[QXD]

Fiat, Citroen and Peugeot, three EU car companies that should have gone the way of the dodo if not for massive government subsidies.

Next up, GM, Chrysler, Ford, American shit that never ceases to be gas guzzlers except for the occasional hot air next-generation alternative energy fuel prototype.

http://sg.news.yahoo.com/afp/20100114/tts-italy-auto-company-fiat-509a08e.html


Fiat CEO: decision to close plant 'irreversible'
AFP
AFP - 1 hour 14 minutes ago

* Send
* IM Story
* Print

[Fiat and Chrysler CEO Sergio Marchionne has said that a decision to shut down the...] Fiat and Chrysler CEO Sergio Marchionne has said that a decision to shut down the company's plant in Sicily was "irreversible."

DETROIT (AFP) - – Fiat and Chrysler CEO Sergio Marchionne said Wednesday that a decision to shut down the company's plant in Sicily was "irreversible."

Speaking in Detroit, Marchionne said plans to shutter the plant, which employs around 1,400 people, although "a great controversy," would go ahead.

His speech was interrupted by cries of protest from those opposing the move. "Shame on you Fiat and Chrysler for killing jobs!" one angry protester shouted.

Earlier Wednesday hundreds of Fiat workers in southern Italy went on strike Wednesday in protest at the company's decision to shut it down by the end of 2011.

Marchionne had first announced the closure last June, as a move to cut costs.