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...Fiat, on the other hand, the sudden infusion of cash and the new chief executive's plans for streamlining management helped the Turin company begin a notable turnaround after its decade-long crisis and raised Marchionne to near mythical status in carmaking circles. Tuesday's joint statement notes that "Fiat would provide management services supporting Chrysler's submission of a viability plan to the U.S. Treasury as required. Fiat has been very successful in executing its own restructuring over the past several years...
...Chrysler is forced to declare bankruptcy, Fiat would be protected from losses and might even be able to acquire American assets at favorable prices in the shakeout. A senior Fiat official calls Tuesday's signature "just a start," noting that much will depend on how the U.S. auto bailout proceeds under the new Obama Administration. "This is still far from a done deal," says the official. "We've already said that with the current situation in world markets, there needs to be major consolidation in the car business, and as we've shown today, we'd like to be part...
...most of the nation celebrated a hallmark of racial reconciliation on Tuesday, Oakland stood apart. For the past two weeks, the California city has been engulfed by racially tinged protests over the brutal New Years Day killing of 22-year old Oscar Grant III by transit officer Johannes Mehserle. Grant and a few friends were returning home from New Years Eve revelry, when they were stopped by Bay Area Rapid Transit Police for rowdy behavior. As documented by several amateur cell phone videos, Grant, who was unarmed, appeared to act cooperatively. Mehserle, however, threw him facedown onto the ground...
Updated 6:30 p.m. Tuesday...
Between 1,500 and 2,000 Rwandan troops invaded the Democratic Republic of Congo on Tuesday on a mission sanctioned by the Congolese government to wipe out ethnic Hutu militias. Lambert Mende, Congo's Information Minister, told Reuters that his government had invited the Rwandans onto Congolese soil as "observers" for an offensive against Rwandan Hutu rebels, which was expected to last about two weeks. "The operations are beginning. We have invited Rwandan officers with their security contingents for their safety. They are observers ... The operations to disarm the FDLR [Democratic Forces for the Liberation of Rwanda] are planned...