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How Not to Save Detroit

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A closer look at Chrysler and Fiat's unlikely marriage of convenience.

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Why Fiat?

It's a good question. After all, Chrysler's new partner doesn't exactly have a stellar reputation for building great cars. Or even for running a good business.

Well, it turns out that Fiat wasn't at the top of Chrysler's list of potential partners, either.

In his bankruptcy-filing affidavit, the company's vice-chairman, Tom LaSorda, revealed that he'd been on the hunt for a partner for 2 and a half years. He'd courted a laundry list of top auto companies, from GM (GM) to Volkswagen to Toyota (TM) to Honda (HMC) to Tata (TTM) - and beyond.

"No party except Fiat emerged as a viable and winning alliance partner for us," LaSorda said.

And so it was: a marriage of convenience. Which isn't to say the 2 companies don't have a lot in common. Like consistently being rated poorly for customer service… And only barely avoiding total financial collapse. It's a match made in heaven!

Can these 2 turkeys combine to make an eagle? Join Hoofy & Boo for a closer look.

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No positions in stocks mentioned.

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