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| Esquire. How We Lived 1933-1983. June 1983. |
In the late 1970's, when Chrysler got the first of its big loan guarantees from the U.S. Congress, AMC wasn't considered big enough to save, so the company turned to Renault for financing. Renault ended up having controlling interest.
From Wikipedia:
The Alliance has the arguable distinction of being the car that saved AMC, while at the same time the cars possibly hastened the automakers's disappearance as an independent company.
I believe that this is what is known as a Faustian bargain. Beware.
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