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teeth of the problem are concerned. he could muster techno-financial and attaining higher productivity.
Apart from the vision of the captain support, adequate for meeting This raised many eyebrows within
in play of the resurrection story, in the knotty problems in conditions and without but the Leader put in
many of the situations similar to where the economies in Europe and charge of rejuvenation of Chryler
those of Fiat and Chrysler, revival USA were in the shambles due to and Fiat corporations was unmoved.
would have been taken as ruled the rather unseemly deflationary As events demonstrated later, his
out in the obtaining conditions. conditions prevailing all over expertise and years of experience in
And the obtaining conditions at during 2008-9. Commercial banks facing challenges and the required
that time were no simple matter at and other such institutions were aetiological exercises so that his
all, as explained later. Production not adequately equipped either steps forward were unusual in
in the automobile sector suffered attitudinally or financially to of the instances that faced in the
most from the downturn of the combat the external economic course of resurrection of the two
economy while the revival process threats with funds return of which major but faltering companies,
had to have a quality of vision and in time was uncertain. Employment Chrysler and Fiat on two sides
functional competence of the leader, in the national economy nosedived of the Atlantic, in two different
apart from self-belief. In the case of and creation of new employment continents with discrete attitudes
LTCM earlier, during the tenure of was far-fetched with the economic to facing challenges of gargantuan
Mr Greenspan, the Federal Reserve down-turn experienced during dimensions!
Bank had to extend its helping hand 2008-9, as stated earlier. For the
to shore it up with several billion revival of Chrysler the important The Man Behind the Impossible
dollars of help and assistance. The point was that the automobile Revival
ability of LTCM to return industry had the potential of The boss of revamped Chrysler
to track was not in rejuvenating the dull economic et al, as stated by the authors is
doubt but it was conditions with a kind of chain- an Italo-Canadian Lawyer and
a victim of the effects on different sectors of the Accountant, Sergio Marchionne
unf avourable economy, interlinked as it is with did undertake the Herculean task
mark et different sectors, for overall revival of putting back the dysfunctional
trends; but of the economy at large. For all this, automobile companies in reckoning
the return the kind of fund support needed operating in different countries
was not was beyond the capacity of the on both sides of the Atlantic. Who
automatic, commercial banks. The recovery believed that the companies and
nor w as process of the automobile industry their products could be put back on
sourcing funds. required both techno-economic and the rail, exuding the confidence that
techno-spatial support that was ‘I knew I could help technically. And
Sourcing Techno-Financial not available just for the calling! I had a guy who was willing to fund
Support Marchionne figured that going in for it’(Cf.p.22). The Guy was none other
Before going into the shared parts of the two corporations than Barack Obama. The Obama
details of the cases of revival, it would enhance returns to scale administration dished out several
would be relevant to make passing along with devices like renovation billions of dollars after the personal
reference to the fact that the boss of which was accomplished by the intervention by President Obama
Chrysler, Fiat and Fiat Industrial, workers of the plants themselves, but not before a repartee with the
recognized that he could bring all without having to close the plants critics. The President clearly saw
of them into shape but to for renovation purposes or hiring in the possibilities and appreciated the
do that he would require a number of industrial engineers for ability and integrity of Marchionne
both financial and dictating the exact sequence of each underlined by his Fiat experience,
technical support assembly process, workers were but the critics could not be silenced
for bringing into trained to use analytical tools to help before the results of the deal were
shape all these them understand each process in the visible. In fact, Marchionne proved
companies if, 400 or so work stations on the floor, instrumental in averting the
and only if, thus saving costs, ensuring safety impending disaster, its ugly face

www.icmai.in May 2017 l The Management Accountant 55