About a year ago, I was sitting at a dinner table in Venice in the rather sorry position of conference rapporteur. Keynote speaker that day was Sergio Marchionne, CEO of Fiat, the Italian automaker. Speaking at the beginning of the subprime-triggered financial crisis, Marchionne centered his whole speech on the need for "creative destruction."
Today, Chrysler heads for "surgical bankrupcy", right after which Fiat will take over a 20% stake in the restructured U.S. automaker, possibly to rise by 51% in 2013. For Marchionne at least, this seems to be a case of creative destruction indeed.
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About Me
- Fabrizio Tassinari
- I am a Senior Fellow at the Danish Institute for International Studies Personal website: http://www.fabriziotassinari.net