Chrysler to Idle Plants During Bankruptcy

Chrysler to Idle Plants During Bankruptcy
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Starting Monday, Chrysler will idle most of its plants as the company restructures under a Chapter 11 bankruptcy filing. This will include 8 U.S. assembly plants, as well as facilities in Canada and Mexico. Other pre-assembly facilities will also face temporary closure including five North American engine plants, six stamping plants and seven transmission plants…. Continue Reading...

Chrysler Officially Bankrupt: Merger With Fiat A Done Deal

Chrysler Officially Bankrupt: Merger With Fiat A Done Deal
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At a mid-day press conference President Barak Obama made the official announcement that Chrysler will in fact file for Chapter 11 bankruptcy protection. Included in the announcement was the news that Chrysler has also reached an agreement with Fiat. “I can report that the necessary steps have been taken to give one of America’s most… Continue Reading...

Chrysler/UAW Agreement Gives Union 55 Percent Share of Automaker

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Chrysler/UAW Agreement Gives Union 55 Percent Share of Automaker
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  Less than a day after the UAW, Chrysler and Fiat agreed upon the terms of a contract that would keep the struggling U.S. automaker afloat, details of the agreement have surfaced in which the union will take a controlling share in Chrysler. At first it seemed almost too good to be true that all… Continue Reading...

Canadian Government Cuts Chrysler Emergency $250 Million Check To Make Payroll

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Canadian Government Cuts Chrysler Emergency $250 Million Check To Make Payroll
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Chrysler Canada Headquarters in Windsor, Ontario While President Obama outlined his plan yesterday for General Motors and Chrysler, the Canadian government was forced into some more immediate action. Chrysler Canada, which is currently threatening to remove all of it’s manufacturing facilities from the country if the Canadian Auto Workers (CAW) union cannot make concessions, made… Continue Reading...

Chrysler Solidifies Deal With Fiat…That Was Quick

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Chrysler Solidifies Deal With Fiat…That Was Quick
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*** UPDATE *** Moments after Chrysler released an announcement that a partnership with Fiat was a done-deal, the American auto manufacturer released another statement with slightly revised wording stating that it had just a “framework” of a deal in place. *** UPDATE *** Hours after President Barak Obama gave Chrysler a deadline of 30 days… Continue Reading...

Obama Gives GM/Chrysler Bankruptcy Deadlines

Obama Gives GM/Chrysler Bankruptcy Deadlines
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Just ahead of the Obama Administration’s press conference today, some of the most important details are already out. General Motors is to be given 60 more days to complete its restructuring plan, while Chrysler is being given just 30 days to finalize a partnership with Fiat. This news comes as both fumbling U.S. automakers are… Continue Reading...

Obama Will Set Bankruptcy Deadline for GM and Chrysler on Monday

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Obama Will Set Bankruptcy Deadline for GM and Chrysler on Monday
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According to the reliable folks over at GMInsideNews, on Monday the Obama Administration will announce a bankruptcy deadline for both General Motors and Chrysler.  It has been rumored that the government will release more details about its aid for the U.S. auto industry on Monday, but now it appears the announcement will include this strong-arm… Continue Reading...