25 result(s) displayed (1 - 25 of 29):
The Obama administration says it has intervened in the auto sector only out of dire necessity, and looks forward to a businesslike restructuring and getting out as soon as possible. But as the bankruptcies and bailouts of Chrysler LLC and General Motors Corp. move along, we are reminded daily of...
Posted on June 10, 2009 1:05 PM
Fiat SpA chairman Sergio Marchionne may or may not have the smarts to meld a busted Chrysler LLC with his firm and produce a viable global auto company. But he at least has the good sense not to further inflame a heated political discussion in the U.S. According to a Reuters...
Posted on June 9, 2009 10:57 AM
Has anyone else been struck by the fact that some of the most famous names in American business are embroiled in arguments with their distribution channels?Probably not wise to overemphasize the parallels. But still: Here are Chrysler LLC and General Motors Corp. (NYSE:GM) trying to reduce their too-big dealer networks...
Posted on May 19, 2009 11:00 AM
The White House is expected on Tuesday to announce new emissions standards that would cut greenhouse gas emissions from new cars and trucks by 30% by 2016. That's bad news and good news for domestic automakers already scrambling to restructure their operations and restore profitability. Automakers have long fought tougher...
Posted on May 18, 2009 3:50 PM
Capital goes where it's wanted and stays where it's well-treated, Walter Wriston famously observed.Labor stays put and demands good treatment right where it is. This is as true, by the way, for the labor provided by rich bankers as it is for auto workers with cushy work rules and benefits....
Posted on May 6, 2009 10:35 AM
President Obama pushed Chrysler LLC into bankruptcy court on Thursday, saying the move was forced by a "handful of speculators" -- in other words, the minority of the automaker's secured creditors who refused to go along with a government-designed deal that aims to leapfrog the unsecured claims of the United...
Posted on May 1, 2009 10:46 AM
Can Chrysler LLC be restructured outside of bankruptcy, ahead of the government's May 1 deadline? It's coming down to the wire.
Posted on April 29, 2009 5:04 PM
The Canadian Auto Workers on Thursday appeared to be inching closer to a concession deal with Chrysler LLC the automaker needs if it is to complete its partnership with Fiat SpA and avoid a bankruptcy filing.Ontario Economic Development Minister Michael Bryant told reporters that he believes progress has been made...
Posted on April 23, 2009 3:16 PM
What to make of the reports on government allegations that Chrysler Financial turned away from low-cost TARP funding because of management resistance to federally imposed salary restraints?At least so far, news accounts leave key questions unanswered about what is going on inside the lender responsible for making loans key to...
Posted on April 21, 2009 2:12 PM
Lots of people have observed that it's a period of tectonic change for the economy. Few have summed it up as bracingly as Fiat SpA CEO Sergio Marchionne did Wednesday when laying out a tough negotiating stance for unions at Chrysler LLC. Here's the quote as it appeared in Lou...
Posted on April 15, 2009 1:47 PM
The U.S. Treasury on Wednesday said a program announced last month to provide a lifeline for troubled auto suppliers has been formally launched, providing some cover to a group of companies that figure to be hard hit should General Motors Corp. (NYSE:GM) or Chrysler LLC file for bankruptcy protection.The Treasury...
Posted on April 8, 2009 12:30 PM
Though the focus has been on General Motors Corp. (NYSE:GM) and Chrysler LLC's need to reduce their costs, the automakers also face a separate and equally vexing problem: bringing customers -- and in particular affluent customers -- into their showrooms. Though domestic quality has improved dramatically in recent years, the...
Posted on March 31, 2009 4:49 PM
The Chrysler LLC-Fiat SpA pieces of the weekend's auto news have driven home two realities about our current situation: 1. The economic crisis, and the automotive component of it, really are global; and 2. Both government and business are in uncharted territory.Here we have the U.S. government telling Chrysler to...
Posted on March 30, 2009 9:55 AM
A Canadian Auto Workers union leader said Friday the group remains "far apart" in negotiations with Chrysler LLC over a concession deal that would keep the troubled automaker from leaving the country.The two sides opened talks this week, with Chrysler seeking to shave about C$20 ($16) an hour off of...
Posted on March 27, 2009 2:08 PM
Canadian Auto Worker leaders on Monday expressed confidence that they will be able to negotiate concessions with Chrysler LLC that will prevent the automaker from following through on its threat to pull out of the country.Chrysler and the CAW head into talks this week aimed at shaving C$20 an hour...
Posted on March 23, 2009 4:12 PM
Steven Rattner, leader of President Obama's auto industry task force, does not sound like a man about to push his charges into bankruptcy.On Tuesday he said bankruptcy is not a "desirable outcome."Friday, in an interview with Bloomberg TV (written up here), Rattner acknowledged that the automakers could need considerably more...
Posted on March 20, 2009 1:05 PM
When the U.S. Treasury announced financial aid for auto suppliers Thursday morning, it noted that General Motors Corp. (NYSE:GM) and Chrysler LLC had agreed to participate. Suppliers that ship to those companies will thus be guaranteed payment, regardless of what happens to the companies.But why isn't Ford Motor Co. (NYSE:F) ...
Posted on March 19, 2009 3:37 PM
Even as Chrysler LLC continues to assemble a viability plan designed to win it upwards of $5 billion in additional bailout funds, the company continues to look elsewhere for assistance and capital needed to help it restructure its business.Chrysler CEO Bob Nardelli, appearing on CNBC Tuesday, said the automaker's finance...
Posted on March 18, 2009 1:44 PM
Steve Rattner did his best to talk tough about the need for the automakers to restructure. But the carefully chosen words of President Obama's car czar if anything only demonstrate what a difficult bind the government is in, and seem more likely to strengthen the resolve of bondholders who so...
Posted on March 17, 2009 1:27 PM
Chrysler LLC executives told employees Monday they believed technology the company would receive as part of its joint venture with Fiat Group SpA would be worth as much or more than the $9 billion it is seeking in government loans.Cerberus Capital Management LP-owned Chrysler has a pending deal that would...
Posted on March 16, 2009 3:01 PM
The report Friday in Italy's Il Sole 24 Ore that Fiat SA and France's PSA Peugeot Citroen SA are considering some kind of combination -- and Fiat's carefully worded comment leaving the door open to same, while also reiterating its commitment to an alliance with Chrysler LLC -- is yet...
Posted on March 13, 2009 9:59 AM
Ford Motor Co. (NYSE:F) has made impressive strides restructuring its operations as crosstown rivals General Motors Corp. (NYSE:GM) and Chrysler LLC plead for government loans to stay in business. But its discussion Wednesday of the benefits of a cost-cutting deal with its United Auto Workers union might mark a key...
Posted on March 11, 2009 1:59 PM
Fiat Group SpA boss Sergio Marchionne got his day before the Obama Administration's auto task force on Thursday, arguing that a proposed partnership between his company and Chrysler LLC could revive Chrysler and leave it better-positioned to repay billions in government loans.Fiat has a tentative deal in place to collaborate...
Posted on March 5, 2009 4:54 PM
General Motors Corp. (NYSE:GM) is apparently keeping an open mind about how much equity it is willing to sell in German unit Adam Opel GmbH in order to raise cash. But company officials appear considerably less flexible when the topic turns to acquiring crosstown rival Chrysler LLC.Chief operating officer Fritz...
Posted on March 3, 2009 2:47 PM
Chrysler LLC execs met with President Obama's auto industry task force, presenting their case for $5 billion in new government loans directly to the group charged with sorting out the automaker's future.A group including chairman and CEO Bob Nardelli and vice chair Tom LaSorda met with the task force, according...
Posted on February 25, 2009 4:27 PM
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