TO SAVE $1: Bailed Out Chrysler To Move U.S. JEEP Production To Italy

'Obama's first new car was a Jeep.'

Clinton speaks too soon.

Bill Clinton speaks in Youngstown, Ohio on Sunday, and attempts to deny the rumors that Jeep would be moving production overseas.  Then yesterday Fiat-Chrysler CEO admitted the truth in the quarterly conference call.

All About Saving Fiat.

The Cerebrus-Chrysler bailout was a complete nightmare, and now we reap the rewards of Obama and Steven Rattner's stewardship all the way to Italy, and beyond.

Read these two links for the full story:

Fiat Will Outsource Chrysler Jeep – For $1 In Savings

BOMBSHELL: Fiat Says Chrysler, Jeep Production Will Move To Italy

This is an absolute, unmitigated outrage.

---

Here's the new Romney Ad in question: 

Here's more on the story:

All About Protecting Italian Jobs (Detroit Free Press)

Chrysler Fiat CEO Tries to Reassure Jeep Employees

Fiat urged to buy all of Chrysler, but that means selling prized Ferrari

Comments

[DailyBail]

Clinton: Obama's Feelings Most Hurt Over Jeep Ad

http://weeklystandard.com/blogs/clinton-obamas-feeling-hurt-over-jeep-ad_658105.html

[Grace]

Boycott them both so they can leave America and go become Italy's problem. Citizens deserve what they get if they keep standing behind corrupt companies.

I don't even want to see Chrysler or Jeep commercials on my TV.

[Sagebrush]

Yep, what Grace says!!

Our last three trucks have been Dodges, never again. Our next new truck will be a Ford, I'm done with Chrysler Products.

[LadyLiberty]

Did you hear how you will be helping out obama's hood?

ObamaCare Funnels $100 Million per Year to Chicago

http://moonbattery.com/?p=20032

And

Fed to the Rescue? Wall Street Talks of 'QE Sandy'

http://www.cnbc.com/id/49625920

Inventory of lower-priced homes plunges in California (investor's gobbling them up for pennies on the dollar)

http://www.latimes.com/business/money/la-fi-mo-zillow-inventory-20121010,0,6734256.story

A Huge Housing Bargain -- but Not for You

http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html

Investors With Ties To Buffett, Soros, Obama Plan Mortgage Eminent Domain Grab

http://www.futureofcapitalism.com/2012/06/investors-with-ties-to-buffett-soros-obama-plan

[DailyBail]

Great stuff, LL.

Here's more on the Chrysler-Cerebrus bailout.

http://www.nytimes.com/2009/08/09/business/09cerb.html?pagewanted=all&_r=0

[LadyLiberty]

p.s.

BAILED OUT Warren Buffett Just Made A Huge Bet On The US Housing Market

http://www.businessinsider.com/warren-buffett-brookfield-asset-managment-housing-2012-10

Warren Buffett Is A Punk

http://techcrunch.com/2012/05/12/warren-buffett-is-a-punk/

Warren Buffett is a Huge Disappointment

http://www.investingdaily.com/10959/warren-buffett-is-a-huge-disappointment

Buffett’s Betrayal

http://blogs.reuters.com/rolfe-winkler/2009/08/04/buffetts-betrayal/

[SKINFLINT]

Let’s under engineer and over promise. The French motto. Maybe they can argue what to call their product. Douche mobile perhaps. Jesus Chrysler. Thanks a fucking heap goddamned worhless political hacks. What a bunch of c_ _ ts.

http://www.telegraph.co.uk/news/worldnews/europe/france/1325965/French-calamity-carrier-heads-for-sea-again.html


Whores all of em.

[Meeche]

According to Fox News at noon today - Italy is going to farm the production out to China - so here we go - We bail them out then sell to Italy and Italy farms out production to China - what a merry-go-round

[DailyBail]

Douche mobile perhaps.

+1

[DailyBail]

Thanks for the update Meeche.

[Backgammon]

I don't usually believe what Impeached, Man Ho, X Presidents say.


I do have two other "stuff that bothers me" today.

Obama is prancing around NJ and looking Presidential for the first time in 4 years.
Obama was 1 of 14 Senators who voted against aid to Katrina, so I find his sympathy lacking.
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=1&vote=00181OO

Oprah's BBF Gail speaks of Romney's unspoken charity, kindness, and love of fellow man. On CBS, no less.
http://www.cbsnews.com/video/watch/?id=7405692n&tag=api

[DailyBail]

Backgammon

Thanks, good stuff. I actually was watching CBS that morning when she made those comments. I was surprised how positive she was about Romney.

[Howard T. Lewis III]

Pssst!!! Toyota and Honda manufacturing comes to America and the burden of Chrysler, Jeep, GM breakdown behemoths including Cattle licks GONE. Forever if we are lucky. American vehicles had the finest engineering of anything on the planet! Trouble is, they did not install it in the cars they produced because breakdowns make money for the stockholders.

Grandpapa-san Honda was pushing broom double shifts into his 90s at the main Japan Honda factory while Henry Ford's fifth cousin twice removed was doing his damnedest to get in on the profit sharing action. Hondas and Toyotas rule the roost while blind ethnocentric masochism in potential customers is the only real force keeping Ford, GM(China bound), and Jesus Chrysler out of the scrap yard of time. Now, the American automotive industry will have to compete or crawl back under the rock of import tariffs. We do have superior environmental regulations in place, so tariffs should have been accompanied by incentives for other nations to get GREEN Jesus Chrysler and Jeepjunk leaving the US was a GREAT DAY for America. Now we can swim. If Fiat sells Ferrari to buy Chrysler, that will be the signal of a true apocalypse ahead. Trading The Mona Lisa and Sophia Loren for Phyllis Diller and Moms Mabley is just not in the cards.

[SKINFLINT]

Howard, While I will not argue the fact that american autos were total shit going from the late 70s into the 80s, there were some accomplishments made along the way that made american cars worth owning again. I would also argue that Honda and Toyota had some fine cars but also had some real shit too as well. My brother in law who resides in NY. had one after owning american cars all his life and it was a piece of shit. He rode around in NY with lemon stickers all over it until he sold the car. Japanese cars acqired a reputation of being good solid cars. Toyotas were complete rust buckets that would run until all you had left was 4 wheels, a steering column, and a seat. American cars wouldn't rust that bad. Anyway, the field is pretty level nowadays and I think American cars are good cars to drive. Take care.

[Howard T. Lewis III]

I am an ASE certified mechanic and a believer in what I see in Consumer Reports and dead by the road. Consumer reports rated Sears Craftsman automotive wrenches above Snap-on's. That was insane. The problem remains in the utilization of new technologies versus having to wait for patent procedures, and the gravy train surrounding American auto manufacturing and profitability. International GREEN LAWS would level the playing field considerably. Most innovations have been American. Americans are hampered only by the financial systems the actual builders must work in, including disinterested stock holders who contribute nothing. I would take my 1987 Suzuki Samarai and 1970 Ford Econoline 100 camper van and 1993 Honda Accord over anything else ever built. I still need a 1952 Triumph TR-2A or TR-3 for buzzing around in. The broken gauges and weather exposure would keep me happily frustrated as I awaited the next breakdown. Maybe install Toyota 1300 cc running gear and gauges. Nobody should be coerced into buying junk unless they are happy with junk, like the old Triumph.

[S. Gompers]

The government put GM in bankrupcy?...

GM did that all on its own with its screwed up management style. When gas first started climbing they decided to put more of their resources into 6.0 litre Escalades and shut down the Cavalier production, they got rid of the Mustang competition (Camaro) in I believe 2002 thus chasing the gearheads to Ford, and all design changes had to be approved by the board of directors...

A bunch of depends wearing old men who have no clue what young people want.

Trends show that most people stay with the first brand they buy, and GM was chasing away those first time buyers like crazy. There is a host of other bad decisions GM has made that led up to their trouble, yet the Captain of the ship Rick Wagoner walked away with 20 million for his epic floundering of a once great company.

The government did not sink GM, management did.

I will however stand by the fact that the 5.7 litre platform was one of the best ever designed by anyone, and I still mourn its loss as one who has depended on trucks all his life and flogged them hard daily.

[SKINFLINT]

My apologies to the French. I had mistakenly thought Fiat to be a French manufactured automobile. That is not the case apparently as they are of Italian heritage, but still are pieces of shit. Unless of course they have figured out how to make a decent automobile without having to cost over $200,000. Fiat are ugly cars. No amount of red paint will change that fact.

[Howard T. Lewis III]

I was standing by the highway after delivering a car and hitchhiking home once last year. Soon a string of cars came into view, a half-mile off, with one of them exhibiting a strange disharmonious engine sound which I could only describe as emanating from cam lobes carved with a pocketknife by a drunk guy. As this car drew closer, I focused on what could be the source of this metal on metal torture of that which must remain in harmony or soon perish. It was a new Fiat 500 hot off the barge headed for Kona. Poor thing. I conjure up the darkest of images when I think of Chrysler and Jeep heading to Black Popeville to rescue Fiat. Not since the Dark Ages has there been such cause for dread and regret.

[LadyLiberty]

Romney was right

Fiat posts profit, plans 19 new cars in Europe

Fiat, which owns U.S. carmaker Chrysler, also will unveil a new smaller Jeep for production in Italy and focus the Fiat brand on the 500 and Panda compact car lines.

The 19 new models to be made in Italy for Europe and export, including to the U.S., include the new small Jeep SUV, nine Alfa Romeos and six Maseratis.

http://www.usatoday.com/story/money/cars/2012/10/30/fiat-chrysler-europe-earnings/1668607/

Romney's plan would have saved auto industry, much more cheaply, car expert says

http://www.examiner.com/article/romney-s-plan-would-have-saved-auto-industry-much-more-cheaply-car-expert-says?cid=rss

Save General Motors From Bankruptcy, Vote For Mitt Romney

http://www.forbes.com/sites/louiswoodhill/2012/10/31/save-general-motors-from-bankruptcy-vote-for-mitt-romney/

The Auto Bailout was a Crony Pigout (It’s worse than you think)

http://m.washingtontimes.com/news/2012/nov/2/auto-bailouts-bleeding-more-taxpayer-cash/

[quantum]

What are you screeching about? By law, compliance = consent so as long as US taxpayers continue to pay their taxes, all of this has the citizens' stamp of approval. Period.

[john]

Here is a fix for the Jeep hacking problem:

https://cryptome.org/2015/07/jeep-sec-fix-tutorial.pdf

[john]

http://news.yahoo.com/ap-sources-fiat-chrysler-buy-back-300-000-215649585--finance.html

[john]

Researcher says can hack GM's OnStar app, open vehicle, start engine

http://www.reuters.com/article/2015/07/30/us-gm-hacking-idUSKCN0Q42FI20150730

A researcher is advising drivers to halt the use of a mobile app for General Motors Co's (GM.N) OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines.

"White-hat" hacker Samy Kamkar posted a video on Thursday saying he had figured out a way to "locate, unlock and remote-start" vehicles by intercepting communications between the OnStar RemoteLink mobile app and the OnStar service.

Kamkar said he plans to provide technical details on the hack next week in Las Vegas at the Def Con conference, where tens of thousands of hacking aficionados will gather to learn about new cybersecurity vulnerabilities.

Kamkar released the video a week after Fiat Chrysler Automobiles (FCAU.N)(FCHA.MI) recalled some 1.4 million vehicles after hacking experts demonstrated a more serious vulnerability in the Jeep Cherokee. That bug allowed them to gain remote control of a Jeep traveling at 70 miles per hour on a public highway.

GM said its engineers had reviewed Kamkar's research. "A fix has already been implemented," the company said in a statement.

Kamkar said he discussed the fix with representatives from GM, but their efforts failed to thwart the attack method he uncovered, which uses a device he built and dubbed 'OwnStar.'"

"They have not yet fixed the bug that 'OwnStar' is exploiting," he told Reuters.

Representatives with GM did not immediately respond to requests for comment on the status of the bug or fix.