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Chrysler extends shutdown for three plants | detnews.com | The Detroit News Chrysler LLC is extending the shutdown of three of its plants for an additional week, citing continued slow sales due to the financial crisis and downturn in the auto industry. The automaker closed all 30 North American plants Dec. 19 for one month to reduce inventory. Workers at 23 of them will be back on the job beginning next week. Three plants will be down an additional week. They include: Sterling Heights Assembly Plant Chrysler Sebring and Dodge Avenger, Belvidere, Ill. Dodge Caliber and Jeep... Article added: 2009-01-16 06:07:15 Article Views Rating: 226
Chrysler extends plant shutdowns | detnews.com | The Detroit News Chrysler LLC is extending the shutdown of five plants, including three in Michigan, for another week, citing continued slow sales due to the financial crisis and industry downturn. The automaker closed all 30 North American plants Dec. 19 for one month to reduce inventory. Workers at 23 of them will be back on the job next week. Down an additional week are: Sterling Heights Assembly Plant Chrysler Sebring and Dodge Avenger; Belvidere, Ill. Dodge Caliber and Jeep Patriot and Compass; and the plant in... Article added: 2009-01-16 06:07:14 Article Views Rating: 234
2009 Detroit Auto Show: Chrysler Limited Presentation Chrysler is having hard times and to avoid unnecessary expenses the auto manufacturer is planning very limited program for the 2009 Detroit Auto Show. Many of the things are going to be cancelled and as the company’s spokesman wrote at the corporate blog, it will be “less glitz and no giveaways”.First of all Chrysler gave up the free tickets for its executives to attend the black-tie charity preview at the show and free media lunches. There... Article added: 2009-01-12 06:34:17 Article Views Rating: 318
Chrysler starts to seek concessions necessary for recovery plan | detnews.com | The Detroit News DETROIT -- Chrysler LLC will meet with many of its stakeholders over the next two weeks to seek concessions to meet the targets outlined in the automaker's recovery plan. Chairman Robert Nardelli told reporters at the North American International Auto Show on Sunday that a range of concessions is being sought, but he would not be specific about the company's requests. Chrysler received $4 billion from the government in emergency loans last month that require the automaker to dramatically restructure... Article added: 2009-01-12 06:34:13 Article Views Rating: 201
Chrysler wants $3B more in bailout aid | detnews.com | The Detroit News DETROIT -- Chrysler LLC is seeking $3 billion in additional government aid and its finance arm is in advanced talks with the U.S. Treasury to obtain a multi-billion cash infusion that could be finalized by Friday, officials said. Chrysler is the only one among Detroit's Big Three automakers seeking immediate additional aid. General Motors Corp. said it had no plans to seek more aid beyond the $13.4 billion the U.S. Treasury Department is loaning it from the $700 billion Wall Street rescue fund, known as... Article added: 2009-01-12 06:34:09 Article Views Rating: 270
Chrysler receives $4B loan | detnews.com | The Detroit News Troubled Chrysler LLC late Friday received an initial $4 billion loan from the U.S. Treasury Department, part of the $17.4 billion it and General Motors Corp. had sought to help the companies stay afloat. Chief Executive Robert Nardelli said the loan will allow the automaker to continue its restructuring and pursue "our vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again." The Auburn Hills automaker, which is privately held... Article added: 2009-01-03 09:19:46 Article Views Rating: 158
Chrysler gets $4 billion | detnews.com | The Detroit News Troubled Chrysler LLC late Friday received an initial $4 billion loan from the U.S. Treasury Department, part of the $17.4 billion it and General Motors Corp. had sought to help the companies stay afloat. Chief Executive Robert Nardelli said the loan will allow the automaker to continue its restructuring and pursue "our vision to build the fuel-efficient, high-quality cars and trucks people want to buy, will enjoy driving and will want to buy again." The Auburn Hills automaker, which is privately held... Article added: 2009-01-03 09:19:45 Article Views Rating: 133
Enough Is Enough? Cerberus May Give Up On Chrysler And It's 4 Billion Bailout Portion Unlike General Motors, Chrysler has provided few specifics on how it plans to overhaul its operations after receiving federal loans.After President Bush announced loans for both companies on Friday, Chrysler’s parent, the private equity firm Cerberus Capital Management, said in a statement that it hoped to “facilitate the restructuring and the recapitalization of Chrysler.”But in the same statement, Cerberus raised questions about whether it would remain an investor if Chrysler... Article added: 2008-12-23 06:51:56 Article Views Rating: 170
GM, Chrysler suffer more ratings downgrades | detnews.com | The Detroit News A federal bailout of $17.4 billion was not enough to keep Standard & Poor's Corp. from downgrading the credit ratings of General Motors Corp. and Chrysler LLC today on continued concerns both automakers will undertake distressed debt exchanges and fears bankruptcy will remain a risk in 2009. "We've been pretty clear all along that this government money we view as buying these companies time, but not solving their problems," said Robert Schultz, the S & P credit analyst behind both reports, in an... Article added: 2008-12-23 06:51:54 Article Views Rating: 205
Dec. 22 letter from Bob Nardelli to Chrysler employees | detnews.com | The Detroit News Dear Employees, As this eventful year draws to a close, I'd just like to take a moment and once again express my personal appreciation and thank you for your commitment and dedication to Chrysler LLC. Reflecting back on the year, I'm sure we can all agree that this one stands out for the extraordinary challenges we faced, as well as for the many accomplishments we can look back on. We are grateful to the U.S taxpayers and the U.S. Treasury Department that they will provide a loan to Chrysler to help... Article added: 2008-12-23 06:51:53 Article Views Rating: 205 |
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