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Fiat Chrylser - US and Canadian Unions Approve Deal

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(ANSA) Rome, April 22 - American and Canadian car unions have approved a deal between Chrysler and Fiat, paving the way for the deal to go through, an Italian car union leader told ANSA Wednesday.

''The accord with the US and Canadian unions has been reached...and with the federal government which has pledged, given everyone's readiness, to persuade the creditor banks to accept the deal,'' said Bruno Vitali of Fim-CISL.He said the deal was ''90% ready'' and might even be announced by Fiat CEO Sergio Marchionne later Wednesday.Vitali said he had had a long talk in Detroit earlier Wednesday with United Auto Workers leader Ron Gettelfienger.

President Barack Obama has given Chrysler until May 1 to strike a deal with Fiat in order to have access to further federal bail-out funds and avoid bankruptcy.The deal in part hinges on unions and lenders accepting stock in Chrysler in exchange for the debt owed to them.An accord draft leaked to the press indicated that unions would take a 20% stake in Chrysler, the same as Fiat's initial stake, as payment for half their pension fund.Marchionne is also asking unions to accept wage cuts to bring labor costs in line with those in other plants in the US producing foreign cars, in states where the unions have less power.The leaked draft also indicated that Marchionne would serve as CEO for both Fiat and Chrysler, while the US automaker would have an American chairman of the board.In this case, it is not clear what would happen to Chrysler's current CEO, Bob Nardelli.Marchionne has been credited for what Obama has described as Fiat's ''impressive'' turnaround in the last few years and the authoritative daily Financial Times last week likened him to a ''superhero'' in a ''Chrysler cliffhanger''.

According to the draft accord, if a partnership is created then Fiat, unions and a federally appointed trust would name a future seven-man Chrysler board.The federal trust would initially hold a significant stake in Chrysler, in exchange for the bail-out funds, including a 15% share which Fiat would receive in 5% instalments as it meets production milestones.Fiat is offering its cutting-edge green technology and platforms for small cars in exchange for as much as 35% of Chrysler but it is likely to be also given an option to acquire up to 49% or more, once the bail-out loans have been repaid.The Italian automaker is keen to strike a deal with Chrysler because it would have access to its plants and dealerships in order to allow it to return to the American market, initially with Alfa Romeo and the trendy Fiat 500 city car.Chrysler, in turn, would have access to Fiat's facilities in Europe and Latin America.

Best Cafe in Rome 2009: Tazza d'Oro and Sant'Eustachio Best Espresso in Rome

Who has best espresso in Rome? For years the caffes in Rome Tazza d'oro and Sant'Eustachio vie for the title of best espresso in Rome. No matter which you choose, neither Sant'Eustachio or Tazza d'Oro will disappoint.






Click below for a WebVisionItaly.com walking map of Rome to Sant'Eustachio and Tazza d'Oro, centro storico, Rome.


View Rome Map: Rome's Best Trattoria Restaurants and Caffes by WebVisionItaly.com Centro Storico Rome in a larger map

Rome Trattoria: Mimi e Coco, Piazza Navona Rome

Mimi e Coco Via del Governo Vecchio, 72 is a nice little caffe wine bar trattoria in Rome's centro storico open late with a good looking local Italian crowd for a glass of wine and a sandwich or salad just off of Piazza Navona. Mimi e Coco comes with a view of Pasquino the political mouthpiece and from Mimi e Coco there is nice view for people watching. Just blocks from Campo di' Fiori on the classic Roman street from La Dolce Vita Via del Governo Vecchio in Rome's centro storico. Below click to enjoy this video of Mimi e Coco caffe in the centro storico of Rome.



Click for a map of Rome centro storico trattoria, ristorante, and restaurants in Rome.


View Rome Map: Rome's Best Trattoria Restaurants and Caffes by WebVisionItaly.com Centro Storico Rome in a larger map

Rome Trattoria: Ristorante Virginiae, Centro Storico Rome

Cucina Romana Virginiae is an authentic Roman trattoria near the Piazza Navona, off via del Governo Vecchio, on Via della Pace in Rome. Virginiae is a family-run Roman-style trattoria restaurant serving delicious home cooked authentic Roman lunch and dinner. Antipasto includes grilled vegetables, which I like to follow with Roman pasta like bucatini all'amatriciana or cacio e pepe, two pasta favorites when in Rome. After the pasta, when in Rome, try the veal with wine and sage, the veal scallopini or my favorite - veal saltimbocca, which is veal with prosciutto and sage topped with a white wine reduction. When in Rome's centro storico near the Piazza Navona take a break from the Bernini walking tour at ristorante Virginiae. Click for a map to Ristorante Virginiae.