Tag Archives: Chrysler

Just in via email: Joe, A commercial for the Ram pickup aired multiple times during Sunday’s Daytona 500 broadcast on Fox network, when millions of families with children were watching. Everyone knows children repeat what they hear. In the commercial, the announcer says, “A man will ask a lot of his truck. Can it tow that, haul this, make it …

Today the Obama administration will announce that Chrysler will enter into bankruptcy in order to force a debt reduction with their partner Fiat. With the UAW late Wednesday ratifying cost cuts in its contract and cuts in the money due its retiree health-care trust fund, President Barack Obama will announce a Chrysler-Fiat deal and the government’s “surgical” bankruptcy plan later …

Whoa. Struggling U.S. automakers are launching a round of severe cutbacks as they wait for a government rescue, with Chrysler saying yesterday it will idle all 30 of its U.S. factories for one month. Chrysler’s plants will furlough 46,000 workers beginning Friday, as a planned two-week holiday shutdown is extended to a month and possibly longer. The company, which has …

Nine years ago DaimlerBenz bought Chrysler for $37 billion. Today they sold the bulk of the company to a private equity firm for the bargain basement price of $7.4 billion. Ouch! Lee Iaccoca, who famously engineered a government bailout of Chrysler in 1979, is “broken hearted.” The new owners of Chrysler are faced with billions of dollars in employee costs …