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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (304505)	2/24/2011 5:12:45 PM
From: Jim McMannis	Read Replies (4) \| Respond to of 306849

I figured Cape Coral, Punta Gorda, Altamonte Springs, Sanford, Deland, Deltona, Daytona, New Smyrna Beach and Palm Bay or there abouts. Figured Ft. Lauderdale still might be a little high. Why would you even consider a Condo unless you got it for nada?

To: John Vosilla who wrote (304505)	2/26/2011 1:15:56 PM
From: tejek	Read Replies (1) \| Respond to of 306849

Fiat in firestorm for floating Detroit move By Rachel Sanderson in Milan and John Reed in London Published: February 6 2011 18:29 \| Sergio Marchionne, chief executive of Fiat and Chrysler, has been forced on the defensive after causing a political firestorm in Italy by suggesting he could move the Italian company’s headquarters from Turin to the US and saying Chrysler’s bail-out loans from the US government carried “shyster rates”. His comments come just a month after he won tough labour concessions at Fiat’s flagship Turin plant on a pledge that he would not move production to cheaper sites in North America or eastern Europe. Fiat is a symbol of Italy’s industrial might, and business leaders say any decision by Mr Marchionne to reduce its presence there would have a disastrous effect on the country’s already weak image as a place for foreign investment. Pierluigi Bersani, leader of the opposition Democratic party, demanding an explanation from Mr Marchionne said it was unacceptable for “Turin and the country to become a suburb of Detroit”. On Sunday, John Elkann, Fiat chairman, sought to calm tension, telling Turin’s mayor that the city would remain a European headquarters of Fiat in any merger with Chrysler. Speaking at the JD Power forum in San Francisco on Friday, Mr Marchionne said that in “two or three years” Fiat could merge with Chrysler and move its headquarters to the US. Fiat said only that Mr Marchionne spoke in his capacity as Chrysler chief executive. Even so, top bankers familiar with Fiat expect Mr Marchionne, who has made no secret of his frustration with Italian bureaucracy and labour relations, to seek to slim down operations in Italy and lead the group from the US. In a separate statement by Chrysler, Mr Marchionne sought to douse anger over his pejorative term “shyster rates” on US government loans, saying he regretted those remarks. US government loans enabled Chrysler to be restructured out of bankruptcy and allowed Fiat to take a 20 per cent stake. The Detroit News quoted Steven Rattner, former car tsar to Barack Obama, US president, as saying: “The loans were made at or below market rates.” Chrysler’s interest payments of $1.2bn last year turned its operating profit into a net loss. Mr Marchionne has frequently complained about the high interest rates on loans to Chrysler, which he wants to list this year, owes to the US and Canadian governments which have been an obstacle to the US group returning to profitability. Copyright The Financial Times Limited 2011. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web. ft.com