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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: 133
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: 109
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: 142
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: 175
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: 175
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 06:51:46 Article Views Rating: 156
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 06:51:44 Article Views Rating: 155
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 06:51:44 Article Views Rating: 157
Bush defends loans to GM, Chrysler | detnews.com | The Detroit News President Bush defended his decision to loan $17.4 billion to General Motors Corp. and Chrysler LLC in his radio address Saturday, saying it would require "meaningful" sacrifices from auto workers, dealers and suppliers. Bush explained how automakers would have to demonstrate by March 31 that they will be viable. "This restructuring will require meaningful concessions from all involved in the auto industry -- management, labor unions, creditors, bondholders, dealers, and suppliers," Bush said during his... Article added: 2008-12-22 05:54:28 Article Views Rating: 109
Chrysler And GM Revive Merger Talks General Motors and Chrysler have reopened merger talks, with Chrysler's private owners signaling a willingness to give away part of its stake in the automaker, The Wall Street Journal reported Thursday, citing people familiar with the discussions.GM spokesman Tony Cervone said GM's stance on the merger talks has not changed, however, since the automaker suspended them when it announced third-quarter earnings in November.With cash running low at both companies, Chrysler majority owner Cerberus Capital... Article added: 2008-12-19 08:13:36 Article Views Rating: 130 |
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