  Mopardan Member Username: Mopardan Post Number: 246 Registered: 11-2008 |
http://www.allpar.com/news/ind ex.php/2009/03/marchionne-enco uraged-after-task-force-meetin g/ Marchionne encouraged after task force meeting March 6th, 2009 by Bill Cawthon Sergio Marchionne. CEO of Fiat SpA. met with President Obama’s auto industry task force today. His job was to sell the task force members on the proposed alliance with Chrysler. During the meeting, Marchionne explained the role each company would play and the reasons the alliance would help ensure Chrysler’s long-term viability. Marchionne also assured the task force that none of the additional money Chrysler is requesting would go to Fiat. Chrysler has already received $4 billion in government loans and is currently asking for another $5 billion. After the meeting, Marchionne told reporters he was encouraged by the task force’s engagement with the issues facing the automotive industry and described the members as “intelligently critical” of the proposed alliance saying: “They recognize the magnitude of the problem, and there is an absolute determination to finding a solution.” ------------------------------ ------------------- http://www.allpar.com/news/ind ex.php/2009/03/press-chrysler- sales-sufficient/ Press: Chrysler sales sufficient March 7th, 2009 by Bill Cawthon In spite of a 44 percent drop in February sales, Chrysler Vice-Chairman Jim Press says the volume is sufficient to keep the company going as sales should rise in the coming months. February is typically a slow month for light vehicle sales. In an interview with the Associated Press, the Chrysler executive noted the automaker’s February retail sales were better than Ford’s as Chrysler continued to curtail lower-margin fleet sales. He also said the volumes being forecast for 2009 are within the estimates Chrysler envisioned in preparing its viability plan for the federal government. | ||
Ccbatson Member Username: Ccbatson Post Number: 19256 Registered: 11-2006 |
Why exactly is government now in the business of making autos? | ||
Sstashmoo Member Username: Sstashmoo Post Number: 3412 Registered: 02-2007 |
Same reason we're all in the banking business now. Another hot patch on the economy. | ||
Ccbatson Member Username: Ccbatson Post Number: 19260 Registered: 11-2006 |
I think you and I agree here...the government should not be doing this. It will not "patch" or help, in fact it will worsen the problem one the main front, and do more damage by way of government expansion at the expense of contraction of liberty on another front. | ||
Mopardan Member Username: Mopardan Post Number: 256 Registered: 11-2008 |
Kurt Busch wins Kobalt Tools 500 at Atlanta in #2 Miller Lite Dodge. http://sports.yahoo.com/nascar /news;_ylt=AlHWBnBe7BinmVH0Fx4oebHo v7YF?slug=ap-nascar-atlanta&pr ov=ap&type=lgns During the post-race interview Kurt plugged Dodge & the Charger a few times. A little positive publicity never hurts. Kasey Kahne driving the #9 Budweiser Dodge placed 7th. | ||
Mopardan Member Username: Mopardan Post Number: 257 Registered: 11-2008 |
Here's one for the books! http://michiganmessenger.com/1 4353/undead-chrysler-ghoulishl y-subpoenas-body-after-funeral Undead Chrysler ghoulishly subpoenas body after funeral By LoRayne Apo-Joynt 3/9/09 6:38 AM Automaker Chrysler filed a subpoena for tissue samples from a dead man who’d sued the corporation prior to his death. The deceased, Harold St. John, apparently died of mesothelioma, a lung disease most often caused by exposure to asbestos. St. John believed that the source of asbestos to which he was exposed was from brake linings he installed while working for his father’s auto repair shop 40 to 50 years ago. He’d filed suit against brake manufacturers Honeywell and Chrysler. Chrysler had asked the court for permission to obtain tissue samples, but the court order was not issued until the day of the funeral. The process server waited until after the funeral but before interment to serve the order, offending the grieving family who claim they caught completely unaware of Chrysler’s request. St. John remains uninterred as his family continues to fight the court order; they claim that Chrysler has all the evidence it needs, given that St. John had undergone a lung biopsy while still alive. | ||
20043_stotter Member Username: 20043_stotter Post Number: 823 Registered: 03-2007 |
This lawsuit will just about bankrupt Chrysler asbestos I can see. | ||
Mopardan Member Username: Mopardan Post Number: 268 Registered: 11-2008 |
http://money.cnn.com/news/news feeds/articles/djf500/20090314 2023DOWJONESDJONLINE000474_FOR TUNE5.htm Chrysler Says $5 Billion In Low-Interest Loans Will Be Enough March 14, 2009: 08:23 PM ET DETROIT -(Dow Jones)- Chrysler LLC won't need additional federal funding to run its operations if it succeeds in securing $5 billion in low-interest loans by the end of the month. The $5 billion will help Chrysler work through the crucial July shutdown period when U.S. auto makers traditionally idle their plants for up to two weeks to retool their factories, a company spokeswoman said. The Associated Press reported earlier Saturday that Chrysler Chief Financial Officer Ron Kolka said Chrysler would need additional government loans or face a cash shortage in July. Kolka, Chrysler said, was explaining when the next large cash usage would occur. Chrysler, which has already received $4 billion in low-interest loans, told the U.S. Department of Treasury in February that it needed only another $5 billion in order to avoid bankruptcy. The auto maker is slated to submit a plan on March 31 that details its cost-cutting actions and how it intends to repay the loans. Chrysler and General Motors Corp. (GM), which also needs more low-interest loan money, are both in cost-concession negotiations with the United Auto Workers. The UAW ratified an agreement with Ford Motor Co. (F) - which hasn't accessed the loans - is expected to save the auto maker $500 million annually. Kolka told the Associated Press that Chrysler's will succeed at reaching a deal with the UAW that will comply with the terms of the government loans. The auto maker must lower its hourly labor costs to close the wage gap with the U.S.-based plants operates by its Japanese competitors. -By Jeff Bennett; Dow Jones Newswires; 248-204-5542; jeff.bennett@ dowjones.newswires.com | ||
Ccbatson Member Username: Ccbatson Post Number: 19447 Registered: 11-2006 |
Government takeover in terms of demands put on individual/corporate behaviour scared the bejesus out of both GM and Chrysler. A good thing, only a bit too late. | ||
Mopardan Member Username: Mopardan Post Number: 269 Registered: 11-2008 |
http://www.thestreet.com/_yaho o/story/10472866/1/chrysler-we re-ok-better-with-fiat.html?cm _ven=YAHOO&cm_cat=FREE&cm_ite= NA Chrysler: We're OK, Better With Fiat Chrysler says it can survive as a stand-alone company and can do even better in a partnership with Fiat, which would bring $8 billion to $10 billion in benefits. "This is equal to or greater than the total amount of loans we have requested from the U.S. government," said CEO Bob Nardelli, in an email to employees on Monday. The benefits include synergies, worldwide distribution and three to five years in development time savings. "We would be able offer our dealers exciting new products to help support their business," he wrote. President Barack Obama's automotive task force is focused on solving the auto industry's problems outside of bankruptcy and will likely continue to provide funding to Chrysler and General Motors past the March 31 deadline specified in loan deals, task force adviser Steven Rattner said Monday, in an interview with the Detroit Free Press. In talks with the task force, Nardelli said, "we have continued to emphasize that Chrysler is a viable business on a stand-alone basis," albeit one that would like to have a $5 billion federal loan in addition to the $4 billion it has already received. Nardelli said Chrysler acted early, starting in November 2007, to restructure, reducing current expense requirements. For instance, he said, Chrysler has lower inventory levels than Ford or GM. In addition, he said, Chrysler has a conservative view of vehicle sales, anticipating sales of just 10.1 million vehicles in 2009, rising to 12.6 million in 2014. Nevertheless, he wrote, "based upon the EBITDA projects and an improved net debt position, the company is well-positioned for long-term viability, including 24 product launches over the next 48 months" and repayment of government loans starting in 2012. | ||
Ccbatson Member Username: Ccbatson Post Number: 19462 Registered: 11-2006 |
First, and most importantly, get out from under the thumb of government....return the bailout. | ||
Mopardan Member Username: Mopardan Post Number: 270 Registered: 11-2008 |
From the Allpar site. Positive news & the company is sounding confident. http://www.allpar.com/news/ind ex.php/2009/03/chrysler-better -bet-than-gm-for-fed-funds/ Chrysler better bet than GM for fed funds March 19th, 2009 by Bill Cawthon Ron Kolka, Chrysler’s Chief Financial Officer, says the Auburn Hills automaker s better-positioned than General Motors to weather the current market and repay American taxpayers. In advance of the March 31 deadline to demonstrate the progress of its restructuring and long-term viability, Kolka noted Chrysler can earn profits at a much lower sales volume than GM. Speaking in an interview, Kolka said, “If you look at it on a pure-business basis, we are clearly more viable.” Kolka also said Chrysler isn’t facing a cash crisis at month’s end as it was in December. Its cash position is between $1.9 billion and $5.9 billion and stable. The request for an additional $5 billion in government-backed loans is to ensure the company will “never be back for more,” Kolka said. Echoing a statement made earlier by Chrysler CEO Bob Nardelli, Kolka said If Chrysler doesn’t win government support said the company would likely use its remaining cash to shut down the company in an orderly manner. The main stumbling block at this time is persuading holders of Chrysler debt to exchange their holdings for equity. Cerberus Capital Management has already made an offer to bondholders, which was turned down. This is the same thing that happened with General Motors. Kolka believes it will come down to the federal government negotiating a settlement. ============================== =================== http://www.allpar.com/news/ind ex.php/2009/03/chrysler-improv es-in-jd-power-ratings/ Chrysler improves in JD Power ratings March 19th, 2009 by Bill Cawthon Chrysler-brand vehicles scored above average in the J.D. Powers 2009 Vehicle Dependability Study which surveys owners of 3-year-old light vehicles. With a score of 165 problems per vehicle, Chrysler came in ahead of BMW, Mercedes-Benz and Volvo. The Dodge Caravan was best-rated minivan, beating the Ford Freestar and Toyota Sienna. Overall, Dodge vehicles came in below the average of 170 problems with a score of 202, while Jeep brought up the rear at 220 problems, still ahead of Hummer and Land Rover. Top brands in the survey were Buick and Jaguar, tied at 122 problems each. They knocked off long-time champion Lexus which came in third with 126. at the bottom were Volkswagen and Suzuki. All Ford domestic brands did well with an average score of 146. GM’s domestic brands averaged 183, while Chrysler, Dodge and Jeep came in at 196. ============================== =================== http://www.allpar.com/news/ind ex.php/2009/03/fiat-checking-c hrysler-plants/ Fiat checking Chrysler plants March 19th, 2009 by Bill Cawthon Fiat SpA has hired Environ Holdings, Inc. of Arlington, Virginia, to conduct environmental and safety studies of Chrysler factories. The Italian automaker wants to ensure there are no potential liabilities should the proposed alliance be completed. The alliance, which is still contingent on Chrysler’s receipt of additional government funding, is widely viewed as Chrysler’s best scenario for long-term success. Chrysler CEO Bob Nardelli has said the Fiat contribution of small car platforms and technology is worth about $10 billion as it would help the company reduce its dependence on trucks and achieve new federal efficiency standards. | ||
Ccbatson Member Username: Ccbatson Post Number: 19557 Registered: 11-2006 |
Absurd...the level of QA at Chrysler is many fold better than Fiat (absent Ferrari/Maserati) | ||
Mopardan Member Username: Mopardan Post Number: 271 Registered: 11-2008 |
Chrysler at the 2009 Geneva Auto Show With photos http://www.allpar.com/history/ auto-shows/geneva.php | ||
Ccbatson Member Username: Ccbatson Post Number: 19595 Registered: 11-2006 |
All of the mainstream companies seem to have abandoned new and exciting performance products. A shame, and a mistake. |
