Cerberus Debtor Named To Presidential Auto Task Force

The Wall Street Journal is reporting that Steven “Steve” Rattner of Quadrangle Group will join the Presidential Task Force on Autos as an advisor to National Economic Council Director Lawrence Summers. Rattner has no publicly-known experience in the...

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Report: $40B in bankruptcy aid sought for GM, Chrysler

Is bankruptcy The Best Answer for GM, Chrysler's survival?Outside advisers to the U.S. Treasury have started lining up the largest bankruptcy loan ever, talking with banks and other lenders about at least $40 billion in financing for General Motors and...

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Treasury mulls bankruptcy options for GM, Chrysler

Obama administration says that all options - including bankruptcy - are being considered for the struggling automakers.NEW YORK (Reuters) -- Outside advisers to the U.S. Treasury are lining up contingency financing options for General Motors Corp. and...

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GM Chrysler Merger:Dragging GM and Chrysler to the altar

The two embattled automakers say they can make it as stand alone companies, but government officials might decide the best solution is a merger.NEW YORK (CNNMoney.com) -- Federal loans kept General Motors and Chrysler LLC out of bankruptcy in December.Now...

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Will Obama's Auto Task Force Merge GM and Chrysler?

More talks of the GM and Chrysler Merger. When Chrysler submitted it's viability plan on Tue. 2/17/09 they suggested the best thing for Chrysler was to merge with GM.GM and Chrysler have talked of working together for years and in November 07 the talks of full blown merger heated up. Well they are at it again, now the question is "Will the Auto Task...

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GM Chrysler Merger:Chrysler calls GM tie-up 'best option'

Article from The Detroit Free Press-GM Chrysler Merger part of Chrysler's Viability Plan!Chrysler LLC, which is pushing forward on an alliance with Italian automaker Fiat SpA, said it believes a partnership with General Motors Corp. is still the "best...

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Chrysler plan seeks $2 billion more in federal aid, will cut 3,000 more jobs

Alisa Priddle / The Detroit NewsChrysler LLC wants an additional $2 billion in federal aid on top of the $4 billion received to date and the $3 billion it has requested but has not been granted. In addition, the struggling Auburn Hills automaker also...

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GM, Chrysler raise aid request by $21.6 billion,Viability plans

GM, Chrysler raise aid request by $21.6 billionViability plans underscore worsening cash crisisChristine Tierney and David Shepardson / The Detroit NewsGeneral Motors Corp. and Chrysler LLC asked Washington for as much as $21.6 billion more Tuesday to...

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Creative thinker joins Obama's auto task force

WASHINGTON — Ron Bloom, a key adviser to President Barack Obama’s new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General...

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Does auto task force trump a car czar?

By James R. Healey, USA TODAYFrom a "car czar" who could have micromanaged the foundering auto industry, for better or worse, Detroit automakers now will be delivered into the hands of a committee, the White House says.The Presidential Task Force on...

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Chrysler and GM, UAW again seek concessions deal

General Motors Corp., facing a Tuesday deadline to present a long-term viability plan, resumed negotiations with the UAW on Sunday afternoon after talks broke down Friday, the Free Press has learned.The Detroit automaker is trying to get concessions...

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All options on the table for GM; automaker to resume talks with UAW

Gordon Trowbridge / Detroit News Washington BureauWASHINGTON -- A top White House adviser on Sunday refused to rule out bankruptcy for General Motors Corp. as the deadline for GM and Chrysler LLC to submit restructuring plans to the government looms...

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GM and Chysler News:Union turns to Ford after GM and Chrysler talks stall

SOUTHFIELD, Michigan: Ford Motor became the focus of United Automobile Workers union negotiations over the weekend after talks with General Motors and Chrysler stalled.The union objected to GM and Chrysler proposals to modify a retiree health care fund...

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Bob Lutz GM's product czar to retire

General Motor's Bob Lutz transitions to a role as a senior advisor after 46 years in the auto industry.DETROIT (Reuters) -- General Motors Corp's vice chairman and product chief Bob Lutz will retire at the end of this year, ending an automotive career...

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Chrysler News:French parts maker sues Chrysler for $110 million

DETROIT, Feb 10 (Reuters) - French auto parts maker Faurecia SA (EPED.PA: Quote, Profile, Research) has sued Chrysler LLC for $110 million, saying the struggling U.S. automaker failed to pay engineering costs it owed when vehicle sales plunged.Faurecia...

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GM News:GM cuts 10,000 salaried jobs, trims employees' pay

NEW YORK – General Motors Corp. is planning to slash another 10,000 salaried jobs this year, saying the cuts are unavoidable with a government restructuring deadline looming and industrywide sales in one of the worst downturns in history.The Detroit-based...

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Chrysler Bankruptcy News:Analysts Say Carmakers' plans need more time

From Detnews.ComMarch 31 deadline too soon to get bondholders on board with Chrysler, GM changes, they say.Alisa Priddle and David Shepardson / The Detroit NewsAs General Motors Corp. and Chrysler LLC are scurrying to put the finishing touches on their...

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GM, Chrysler may face bankruptcy over U.S. debt:From Bloomberg.Com

GM, Chrysler may face bankruptcy over U.S. debtMIKE RAMSEY AND TIFFANY KARY Bloomberg NewsFebruary 10, 2009General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the U.S. government to assure repayment of $17.4-billion (U.S.)...

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GM News:GM discusses partnership with China's FAW

February 5, 2009 - 12:01 am ET SHANGHAI (Reuters) -- General Motors is holding discussions with major Chinese automaker FAW Group to form a partnership for light commercial vehicles, a GM China spokesman said today. The spokesman declined to specify...

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Chrysler News:Chrysler shutters 3 plants after brief reopening

Bradford Wernle Automotive News February 5, 2009 - 12:01 am ET DETROIT -- Chrysler LLC, hobbled by shrinking sales and soaring inventories, shut down three assembly plants Monday after reopening them two weeks ago.Detroit-area factories that make the...

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