Chrysler News-Most manufacturing operations will be idled

Letter from Bob Nardelli-12:30pm 4/30/09Nardelli announces Fiat allliance, bankruptcy filingDear Chrysler Employees:This is a historic day for Chrysler. As a result of the comprehensive restructuring plan agreed to by many of our stakeholders, I am very...

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Chrysler News-Chrysler to file for bankruptcy

Chrysler to file for bankruptcy WASHINGTON – Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, two administration officials...

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Chrysler Fiat News-Obama praises autoworkers, says Chrysler deal uncertain

President Barack Obama said today he did not know whether a deal preventing a collapse of Chrysler LLC would be done before Thursday's deadline, and praised American autoworkers for their sacrifices to the industry's survival.Speaking at a town hall...

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Chrysler News-U.S. Reaches Deal With Chrysler Banks, Person Says

By John HughesApril 28 (Bloomberg) -- The U.S. has reached agreement with banks on terms to reduce debt of Chrysler LLC, according to a person with knowledge of the negotiations. The banks’ representatives agreed to forgo $6.9 billion in debt in return...

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Chrysler News-U.S. Tries to Broker Sale Of Chrysler's Loan Arm

The Treasury Department is racing to engineer the sale of Chrysler's financing arm in a move the administration deems vital to saving the troubled automaker, but other federal agencies have not given their support, sources familiar with the matter said....

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Massive Cuts at GM - shed 23,000 jobs, kill Pontiac brand

WASHINGTON – General Motors Corp. will cut an additional 7,000 to 8,000 factory jobs in the United States, kill the Pontiac brand and shed 2,600 dealers by 2010 under a revised business plan developed under the Obama administration's eye.The plan, along...

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The UAW and Chrysler;Concessions or Bankrupt

Latest Article From Time.Despite the pressure of Chrysler's April 30 deadline to pull off a rescue package — or face potential bankruptcy — the United Auto Workers has been in no rush to make concessions. "As I see it, the United Auto Workers union has...

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Fiat CEO: Cut Wages or No Chrysler Deal

Fiat CEO: Cut Wages or No Chrysler DealThe Obama administration's attempt to shepherd a shotgun marriage between Chrysler and Fiat appears to be in serious trouble. Fiat CEO Sergio Marchionne is demanding major concessions from labor unions before agreeing...

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Chrysler Demands A $19 Per Hour Wage Cut

Chrysler CAW workers are in protest and rightfully so.Friday CAW workers were told they must make an impossible decision to save Chrysler Canada a $19 per hour Wage cut!Chrysler Canada workers burned CEO Nardelli's Letter to employees and told Chrysler...

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GM, Chrysler in line for more federal aid from The Auto Task Force

Chrysler in line for $500M more; GM weighs fate of Pontiac, GMCRobert Snell and David Shepardson / The Detroit NewsWashington -- The Obama auto task force is preparing to loan General Motors Corp. about $5 billion in additional federal short-term aid,...

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Nardelli Sees New Leaders at Chrysler if Pact Clears

Article From WSJ-JEFF BENNETTDETROIT -- Chrysler LLC will likely get a new chief executive and board of directors appointed by Italy's Fiat SpA and the U. S. government, if Chrysler and Fiat follow through on their plans to form an alliance, Chrysler's...

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Chrysler must slash labour costs to receive gov't funding: industry minister

TORONTO — Chrysler Canada must slash its labour costs to a level competitive with non-unionized plants in Canada, and the pattern established in an earlier deal reached between General Motors Canada and its union isn't good enough, says federal Industry...

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AP sources: UAW focusing on talks with Chrysler

DETROIT – The United Auto Workers union has placed concession talks with General Motors Corp. on the back burner as it tries to reach a deal with Chrysler LLC before an April 30 government deadline, two people briefed on the negotiations said Thursday.The...

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Fiat CEO: Concessions or no alliance with Chrysler

The latest Chrysler News-Santiago Esparza / The Detroit NewsFiat Group SpA CEO Sergio Marchionne is ready to walk away from a proposed alliance with beleaguered Chrysler LLC if the automaker's union workers do not agree to concessions that would put...

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U.S. may swap GM debt for equity

Possible move would improve automaker's shaky balance sheetArticle FromDavid Shepardson and Robert Snell / The Detroit NewsThe federal government may agree to swap some of its $13.4 billion in General Motors Corp. debt for new equity in the company in...

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Will the Auto Task Force Be On Chrysler's New Board?

Chrysler and potential partner Fiat are discussing a new management and board for the U.S. automaker under a proposed alliance that could see Fiat take a stake in Chrysler, Automotive News reported on Monday.Chrysler is racing to complete a partnership...

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Auto Task Force-GM told to prep for bankruptcy filing

WASHINGTON, April 12 (Reuters ) – The U.S. Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court, The New York Times...

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Chrysler's new deal-Different owners and Marchionne-led management team

Article From Automotive News-Different owners, a new board of directors and maybe a Marchionne-led management teamTURIN, Italy — As Chrysler LLC negotiates an alliance with Fiat S.p.A. that would satisfy the Obama administration, sources say the companies...

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Will The Auto Task Force Split Chrysler Up To The Creditors?

Latest Article from the Detroit Free PressFiat would own biggest slice of Chrysler under latest scenario proposed by U.S.Instead of Cerberus Capital Management and Daimler AG holding 80.1% and 19.9%, respectively, of Chrysler LLC, there will be a larger...

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