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Tag Archives: Chrysler bankruptcy
Ex President George Bush Endorses Federal Auto Bailouts
Former President George W. Bush received large ovations as he addressed the National Automobile Dealers Association Convention yesterday in Las Vegas. Bush’s message on the controversial government bailouts of the U.S. auto industry was simple “I’d do it again,” he told standing-room-only crowd of mostly affluent auto dealers. Continue reading
Ron Bloom Resigns as Assistant to the President for Manufacturing Policy. Was Key Player in Auto Bailouts
Bloom was part of a team headed by Stephen Rattner at the U.S. Treasury Department that was responsible for forcing drastic bankruptcy restructurings and CEO firings at General Motors and Chrysler as they were on the verge of being liquidated in 2009. Continue reading
Posted in auto news, manufacturing, people
Tagged auto bailout, auto informed, auto news, autoinformed, autoinformed.com, automotive news, Chrysler bankruptcy, fiat Chrysler, gm bankruptcy, Ken Zino, obama administration, ron bloom, steven rattner, taxpayer subsidies, united steelworkers, zino
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Chrysler Pays Back Taxpayers. Fiat Now Firmly in Control
The historic bailout differs this time around in what’s left and more importantly who owns it – along with the familiar, nagging question, can Chrysler make it? The new Chrysler Group is now firmly, irrevocably in the hands of Fiat, an Italian multinational firm, which has a global fight in front if it as it too competes to survive in an automobile business dominated by much stronger competitors. Continue reading
Posted in auto news, economy, news analysis, results, transportation
Tagged auto bailouts, auto bankruptcies, auto informed, auto news, autoinformed, autoinformed.com, automotive news, car czar, chrysler, Chrysler bankruptcy, geithner, general motors, iacocca, Ken Zino, marchionne, obama, overhaul, steven rattner
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Chrysler to Pay off $7.5 Billion in U.S., Canadian Bailout Loans
It is primarily the interest on government loans – $1.23 billion – that prevented Chrysler from earning a profit during 2010 and resulted in an overall loss for the year of $652 million. So decreasing interest rates should improve earnings, a necessary precursor for the public offering of Chrysler stock later this year or early next. Continue reading
Chrysler to Repay Loans with New Debt. Fiat to Up Stake to 46%. Credit Ratings under Review for Possible Downgrade?
Chrysler Group will repay the loans provided from the U.S. Department of the Treasury and the Canadian federal and Ontario governments by June. Continue reading
Fiat Increases Ownership of Chrysler Group to 30%
This newly enlarged Fiat position in the Michigan based automaker is the result of Chrysler’s achievement of the second of three performance-related goals dictated by the U.S. Treasury Department when it financed a Chrysler bankruptcy and reorganization in 2009. Continue reading
Chrysler and U.S. EPA Research Hydraulic Hybrid Minivan
Since Chrysler Group’s U.S. sales are comprised of more than 70% of vehicles rated as trucks, the company remains vulnerable to rising fuel prices. The E.P.A. claimed that a hydraulic hybrid could provide +35% in fuel efficiency gains, and possibly as much as a 60% improvement is city driving, compared to traditional powertrains in the same type of vehicles. Continue reading
Posted in auto news
Tagged auto informed, auto news, autoinformed.com, automotive news, chrysler, Chrysler bankruptcy, commercial hybrids, epa, fuel economy, hybrid, hydraulic hybrid, Ken Zino, lisa jackson, marchionne, taxpayer ownership of chrysler, town & country hybrid, uaw, zino
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Ex Car Czar Rattner Settles Bribery Charges for $10 Million
Steven Rattner, the Obama Administrations’ former “car czar,” has settled bribery charges in New York by paying a $10 million fine and agreeing to banishment from appearing before any public pension fund within the State of New York for five years. … Continue reading
Chrysler Group Hiring 1000 Engineers
Chrysler Group plans to hire 1000 new engineers by the end of first quarter 2011. The reorganized company now controlled by Fiat is looking for college grads and those with more experience. Continue reading
