Jim Press was once known as a reputable executive in the auto industry. However, his experience at Chrysler was not something to be proud of. After joining Chrysler, the Auburn Hills company went into bankruptcy and Press was unable to work out a deal with Fiat SpA. Word leaked yesterday that Press, 63, has been [...]
Jim Press, the first American member of ToMoCo”s board of directors, said Today that Akio Toyoda was the right executive to save his family”s company from “˜financially oriented pirates.” “The root cause of their problems is that the company was hijacked, some years ago, by anti-family, financially oriented pirates,” Press said. Press went on to [...]
Jim Press, who will retire as deputy CEO by the end of this year, owes almost $1 million in back taxes and is being sued by his credit union for defaulting on a $609,000 loan, according to records obtained by The Detroit News. The IRS has filed a tax lien for $947,409.63 on a house Press [...]
According to a report by The Wall Street Journal, Chrysler’s Deputy CEO Jim Press is planning on leaving the company by the end of 2009. Sources told the publications that Press, 62, will leave before the end of December. Chrysler spokesman Gualberto Ranieri declined to comment on the report. When Fiat took control of Chrysler Group [...]
Today General Motors CEO Fritz Henderson and Chrysler president Jim Press defended their decision to cut a total of almost 3,000 dealers. The two executives submitted their prepared remarks to the Senate Commerce Committee ahead of a hearing scheduled for this afternoon. The “decision about which of the company’s 3,181 dealers would be brought forward [...]
During our live blogging session earlier this morning, Chrysler CEO Bob Nardelli said that he will be stepping down from his position after the company emerges from bankruptcy. He made it clear that the decision was his own and that the U.S. Treasury had not asked him to resign. According to AutoObserver, Nardelli will return as [...]
While some of you are wondering where our visitor zermatt is (zermatt being a very analytical individual who we feel is a great addition to our community), we’re guessing he’s unwinding after a very tiring visit to Detroit on Monday where President Obama’s auto task force visited General Motors and Chrysler. Either way, the auto [...]
