With Fiat to get 35% of Chrysler for no cash injection & option to get 55%, please Obama, don't give any of my TARP money to this Italian company.

Bob Nardelli was bad at Home Depot. He has lost it completely at Chrysler in the structure of this deal and thinking it is going to fly in Washington.

From The Wall Street Journal:

In an attempt to revive two of the world's storied auto makers, Italy's Fiat SpA and Chrysler LLC are poised to announce a partnership as soon as today in which Fiat could take control of the U.S. company's operations, people familiar with the matter said.

Under terms of a pact that is being hammered out, Fiat is likely to take a 35% stake in Chrysler by the middle of this year. It would have the option of increasing that to as much as 55%, these people said.