Just for those of you that love reading press releases, Chrysler has officially released a statement regarding its new partnership with Fiat SpA. “This partnership transforms Chrysler into a vibrant new company with a wealth of strategic advantages,” said Bob Nardelli, Chairman and CEO of Chrysler, who said he will be stepping down once Chrysler [...]
The members of the United Auto Workers have ratified a contract with Chrysler on the eve of the government-imposed deadline for the Auburn Hills automaker to show its viability in the long-term. 82 percent of production workers and 80 percent of skilled-trades workers voted in agreement, while 90 percent of office and clerical workers voted [...]
Tomorrow is April 30th. To many it’s just another day on the calendar but to us and Chrysler, it is the deadline for the Aurburn Hills automaker set by the Obama administration to restructure and partner with Fiat. Obama to announce Chrysler bankruptcy tomorrow: Obama plans to announce tomorrow that Chrysler will be placed into Chapter [...]
So it’s been a pretty crazy morning for the automotive industry with GM officially announcing the death of Pontiac. Of course many of you are wondering what’s going to happen to Pontiac’s product lineup. Well, we have some bad news for you. CEO Fritz Henderson made it clear today no Pontiac car will be rebadged as [...]
Sources familiar with the matter said that Fiat will move forward with a Chrysler LLC alliance even if the company is forced to enter bankruptcy. Insiders said that Fiat officials will continue to work with the U.S. Treasury Department to complete an agreement, reports Automotive News. Chrysler has until this Thursday, April 30th, to complete [...]
Bruno Vitali, head of the automotive sector of the Fim-Cisl Italian union, said that he met with UAW President Ron Gettlefinger today. A reported by Italian wire service ANSA quoted Vitali saying that the “Fiat-Chrysler deal is ready and could be signed as soon as this afternoon.” According to Automotive News, the publication said that Vitali [...]
Chrysler’s CEO Bob Nardelli and president Tom LaSorda sent out a letter to Canadian employees on Friday, warning that if the 8,000 factory workers do not agree to pay cuts, Chrysler will no longer build vehicles in Canada. Canadian Auto Workers (CAW) president Ken Lewenza responded to the letter calling it “an unprecedented and outrageous [...]
Earlier this month, we’re briefly touched on the subject of Chrysler’s board being shuffled around if a proposed partnership with Fiat goes through. However, today we’ll just say what may soon become inevitable. Chrysler’s current boss Bob Nardelli may be asked to step down by Fiat and the U.S. Treasury as the two will select [...]
Fiat’s CEO Sergio Marchionne told the Globe and Mail today that he would ditch the idea of partnership unless Chrysler’s unions agreed to cut labor costs. He told the Toronto newspaper that a partnership between Fiat and Chrysler had a 50-50 chance of succeeding because of the lack of progress in talks with union leaders [...]
If the proposed partnership between Chrysler and Fiat goes through, we could see a revised ownership structure and possible even a change in management for Chrysler. According to AutoWeek, among the options being discussed is a direct role in Chrysler for Fiat CEO Sergio Marchionne. Sources say that a possible chief executive job for Marchionne [...]
