In yesterday's press conference on the state of the domestic auto industry, President Obama gave Chrysler 30 days to finalize a deal with Fiat. With that in mind, Sergio Marchionne, Fiat's CEO, wasted no time and immediately flew to Detroit.
Chrysler released a statement late yesterday saying that it had "a framework agreement" in place with Fiat, so clearly there are still plenty of details left to iron out. With bankruptcy looming, we don't see how Chrysler will come out of the talks without a deal in place.
AutoObserver: Fiat's Marchionne Bound for Detroit
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